Hays is the UK Index ’s top riser this morning, its shares +5.3% to trade their best since late February when the shares fell 4.5% from near 2018 highs after disappointing H1 results. As it stands, the shares are building on recent positive momentum (they were already +7% from recent lows), pointing towards another test…
Sky shares are -1% this morning, despite 39% owner Twenty-First Century Fox (17% owned by Rupert Murdoch) upping its offer for the remining 61% stake by 30%. Why? Because the 1400p/share offer represents a 6.3% discount to where the shares closed yesterday (1500p), having doubled since Fox’s first offer in December 2016. This rise was…
Shares in interdealer broker TP ICAP plummeted 33% in early morning trading after the company axed its CEO on the back of a highly disappointing trading update; in both results and outlook. The company blames FX headwinds and increased broker compensation for undershooting profits expectations, but the profits warning itself was small fries compared to…
The strongest factors influencing the direction and momentum of Foreign Exchange (FX) rates are changes in the key interest rates, themselves highly sensitive to macroeconomic data such as inflation and economic growth, as well as geopolitical concerns. Higher interest rates tend to render the currency more attractive (and vice versa) which, in turn, can result in it…
Friday, 6 July Guardian Mike van Dulken of Accendo Markets says Beijing is “teasing the markets” by delaying its response to America’s move, making it clear that the US fired the first shots. https://www.theguardian.com/business/live/2018/jul/06/us-china-trade-war-34bn-tariffs-non-farm-business-live?page=with:block-5b3f286be4b0cb7e6f6c1f69#liveblog-navigation Thursday, 5 July Reuters “Full-year guidance [from AB Foods] remains unchanged but traders are clearly taking this with a pinch of sugar,” said Mike…
The first shots were fired overnight and responded to this morning. $68bn worth to be precise; $34bn in US tariffs on Chinese goods around midnight, and a reciprocal amount from China, just a few hours later, in retaliation. The question now is whether these opening salvos prove to be the first in a series of…