After a flirt with 2018 lows, the UK Index rebounded by almost 350pts/5%, and, more importantly, regained the channel from which it fell at the beginning of the month. We may have back-peddled from today’s 7195 recovery highs, but the Bulls are still motivated by the strength of the rebound and the prospect of revisiting…

Taking a look at the UK 100 ’s winners and losers for the week can serve as a good gauge of how investor sentiment is tilted into the weekend. Following a global equity rebound, the UK’s blue-chip index having bounced 350pts from a flirt with 2018 lows, you might well presume the pendulum has swung…

Shares in Paddy Power Betfair traded as high as +5% today after the bookmaker reported solid Q3 results. Revenues grew 8% year-on-year (YoY) while pre-tax profit was flat. After costs associated with recent acquisitions and tax changes are removed, however, profits were up 6%. The sweetest tune for Paddy Power shareholders, however, was news that the company…

Despite Pharma giant Shire posting a decent set of Q3 results yesterday (revenues and profits beat consensus; healthy product sales growth; reiteration of full year guidance), the shares fell by 1.5%. Why? Because the company is being acquired by Japan’s Takeda for 4900p/share. In which case upside potential from better-than-expected results or an improved profits outlook is limited….

One of the biggest intra-day movers on the UK 100 this week was engine maker Rolls-Royce. It’s not the biggest riser or faller today – those “honours” belong to Paddy Power Betfair (+2.4%, rebounding from recent lows) and Evraz (-8.4%, disappointing Q3 production), respectively – but it captured the buzz of the trading floor this afternoon….

They say that a market correction requires a fall of at least 10%. So far, at 6885, the UK Index has fallen 9.1% from September’s 7560 peak. A revisit of 2018 lows of 6840 would take it to 9.6%. Some would say this is enough, especially after a 13% fall from May’s 7900 record ….