Shares in Persimmon (PSN) are topping the blue-chip leader board this morning thanks to a strong FY trading update that highlighted revenues +8%, selling volumes and prices both +4% and expansion in gross margin. The well-received update from management has seen bullishness among investors push the shares above their recent highs and 200-day moving average…
This morning’s fourth quarter update from UK retail stalwart Next was never forecast to be impressive. However, the surprising magnitude with which the company missed expectations resulted in Next’s share price falling by as much as 16% shortly after the London market opening this morning, a performance that has continued into this afternoon with the shares…
Macro observations Despite moving into the New Year it remains old themes that are likely to have a strong bearing on currency movements in the first few months of the year of the year. With less than three weeks until Donald Trump’s inauguration as US President (January 20) and Theresa May expected to invoke Article 50, the legislation…
30 Dec Marketwatch Mike van Dulken, head of research at Accendo Markets, said there was “some reticence to take on additional risk on this final session of the year given the strong run that equity markets have had and the myriad political hurdles we face in 2017.” http://www.marketwatch.com/story/european-stock-set-for-first-yearly-slide-since-2011-2016-12-30 29 Dec Bloomberg “Having boosted markets yesterday, oil’s…
January couldn’t be a more crucial month for crude oil. The OPEC and non-OPEC production cut deal comes into force on the first day of the new year as producers including Saudi Arabia and Russia look to reduce supply in the currently flooded crude oil market. With the IEA reporting that oil demand could continue rising up…
The UK Index looks set to close flat today, with only small gains for the week. Whilst not exactly offering the excitement of recent weeks or that seen earlier in the year, there are a host of strong positives and hidden messages to be taken from such a calm move into the festive period. For…