Next week sees the key banking sector continue to update on how it fared in the last quarter of 2015. We’ve already had US and European majors tell us that things were tough (revenues flat, profits under pressure, regulation a burden) and some potentially overdone sector concerns (Negative interest rates, China slowdown, US recessionary risk,…
Shares in Coca-Cola HBC are top of the pile this morning, back testing 2016 highs as investors welcome a better than expected set of FY 2015 results as sustained underlying volume growth in Q4 helped deliver a positive result for the full year and put management in a position to hike its dividend by 11.1%….
Coca-Cola HBC Beats Expectations On Profit And Volume Growth LSE / Alliance News – 19 Feb http://www.lse.co.uk/AllNews.asp?code=5igookno&headline=UPDATE_CocaCola_HBC_Beats_Expectations_On_Profit_And_Volume_Growth UK 100 knocked lower as commodity shares struggle Marketwatch – 18 Feb http://www.marketwatch.com/story/UK Index -100-knocked-lower-as-commodity-shares-struggle-2016-02-18 Glencore raises €7.5 billion to refinance short-term debt early Irish Times – 17 Feb http://www.irishtimes.com/business/energy-and-resources/glencore-raises-7-5-billion-to-refinance-short-term-debt-early-1.2538656 LPC-Glencore to refinance short-term debt early, shares rise…
Glencore stock remains in recovery mode today, making a bullish breakout beyond 6-month falling resistance at 100p. This comes from positive investor reaction to the miner being able to refinance a major loan facility early. An existing revolving credit facility (RCF) of $8.5bn is being replaced by a new $7.7bn facility which is good news, keeping…
Mario Draghi’s speech at the European Parliament is essentially an exercise in reassurance, because no one – not even the central banks – knows what’s going on at the moment. The market simply doesn’t stay in one place long enough to be prescribed the right treatment. So we must wait until March for genuine talk…
GBP/USD (‘Cable’) GBP/USD (15-min) GBP/USD (daily) Macro observations Dovish US Fed rhetoric still the main driver for USD strength Bank of England more likely to hike UK rates than cut them in 2016 (yet more likely it’ll do nothing) Technicals (based on daily price data unless otherwise stated) Trading around 7-yr lows Circa…