RBS was the beneficiary of good news this morning, propelling its shares back to May highs. More importantly, they extended their 12-month post-Brexit recovery. Many are now looking north towards the highs of 2015 as a potential target. But what is required to get them there? The good news this morning was RBS swinging back…
Next shares surged as much as 12% this morning to test May highs as investors breathed a sigh of relief. Here are five potential reasons why; Sales growth is an endangered species on the high street amid fierce online competition. News of Q2 sales +0.7%, boosted by directory (includes key online segment) and good weather,…
Rolls Royce shares are 8.5% to the good this morning, potentially on course for their best daily gain in almost 18 months (12 Feb 2016, +14%). The jump comes after first half results revealed a better than expected return to profitability (H1 last year impacted by Brexit vote GBP plunge hurting currency hedges), propelling the…
4 Aug Guardian Mike Van Dulken of Accendo Markets says there is “unrelenting US dollar weakness” right now. https://www.theguardian.com/business/live/2017/aug/04/us-dollar-grand-jury-non-farm-payroll-jobs-business-live 3 Aug Pound Sterling Live BoE Chief Economist Andy Haldane teased markets after last month’s policy update, suggesting he was close to jumping the fence vote for a rate hike in light of overheating inflation,” says Michael van Dulken,…
Macro observations As we move headlong into August, a continuing theme has emerged in foreign exchange markets concerning the performance of the global reserve currency. Having traded at a 14-year high only two days into the new year, the US dollar has since fallen over 10% to its lowest level since May 2016. Investors will…
UK Index Tobacco shares are sharply lower (down 4% to 7%), weighing on the blue-chip index into the close (7.6% of index) as investors interpret any US regulatory efforts to dampen demand for cigarettes, by reducing nicotine to non-addictive levels, as a negative for the industry. This may be an overreaction, however. Firstly, this is…