Barclays shares are having a shocker of a day – down over 10% which now puts them around 2011 lows. The reasons, they say: FY adjusted pre-tax profit -2%, quarterly profits -50%, £1.4bn in additional provisions for PPI, dividend slashed and a muted outlook for investment ban king division in Q1 2016. It’s the latter that’s…
London Stock Exchange shares have taken another leg up to make fresh all-time highs based on potential competing bids for its operations. Intercontinental Exchange (ICE: owner of 23 exchanges across the US, Canada and Europe, incl. NYSE and London’s LIFFE futures) could be mulling swooping in with a more interesting and rival bid to the…
Macro observations Brexit debate still weighing on GBP USD strength derived in part from further Chinese currency devaluation Note PBoC cut the reserve ratio requirement (RRR) on Monday 29 Feb, though market reaction unusually muted. Key data this week (Sign up here to get our daily live macro-calendar) UK M4 Money Supply, Mortgage Approvals (Mon)…
Morrisons shares are back at the 200p mark last traded around the UK 100 ’s highs of last April. This comes as the company takes its move on-line to the next level, in a continued effort to fight fierce supermarket pricing competition resulting from the rise of highly successful discounters as well as play catch-up with…
Fellow UK bailout victim Royal Bank of Scotland (RBS) has failed to follow Lloyds Banking Group (LLOY) higher this morning. While the latter pleased investors yesterday with a special dividend and suggestions that the last of major PPI was behind it, and its shares are higher again today. A delay in the return of RBS dividends…
What a great week for trading! Not only did we witness the UK 100 managing to hold up around the ceiling of its 3-month falling channel (opening up the possibility of a bullish breakout into next week), but the UK banks also brought some amazing trading opportunities to the table. First of all, Lloyds Banking Group…