Tonight sees the culmination of the latest US Federal Reserve’s latest Federal Open Monetary Committee (FOMC) meeting and, despite markets widely expecting an interest rate hike when the policy update is announced at 7pm, it is still uncertain as to what the effect on markets may be. In order to assess what impact the meeting will…
Housebuilder Bellway (BWY) is the biggest gainer this morning, helping bigger peers (BDEV, TW, PSN) to the top of the UK 100 . This comes after a trading statement highlighting strong sales, upgraded guidance and soothing rhetoric about robust demand for new homes across all regions despite political uncertainty. Reservations +13% Feb through June allows…
Another vote, another tough outcome for the UK electorate. No outright winner came from the 8 June General Election. Instead, we came away with a hung parliament as all major UK political parties suffered some form of loss: The Conservatives lost their parliamentary majority The Labour Party gained the moral victory, but still came second…
Capita (CPI) is today’s standout UK Index stock, shares up over 12% thanks to better than expected recent trading. This puts management in the enviable position of being able to upgrade March’s forecast for H1 performance to “no worse than” the second half of 2016 (a period chock full of profits warnings; shares at 10yr low)…
Macro observations As the dust settles after the one of the most surprising and insightful general elections in recent British history, foreign exchange traders will have to re-adjust their forecasts for Pound Sterling. When the election was called, Prime Minister Theresa May and her Conservative party were expected to significantly increase their parliamentary majority. However,…
Financial markets detest uncertainty… well, unless that uncertainty causes the value of sterling to fall, boosting the earnings of some 70% of UK 100 constituents trading in dollars, and results in an index gain nearing record levels – welcome to the general election fallout! Does this mean the UK Index could continue to trickle north…