We’ve been hearing about it non-stop for months on end. First the Supreme Court case, now the House of Lords. But finally, next week should see the end of the debate as Prime Minister Theresa May is expected to officially announce the UK’s intention to leave the European Union. Looking back, the day after the…
BT is the blue-chip winner this morning, its shares +4% on headlines news that it has bowed to regulatory pressure and competitor criticism, agreeing to legally separate Openreach, its network that serves as the backbone of the UK’s physical telecommunications network. The deal gives Openreach its own board (majority independent) and control of assets, and…
Insurer Aviva (AV.) is the darling blue-chip this morning after a 6% bullish breakout to test 22-months highs of 545p. The fuel for this is not so much solid 2016 financial results, although these are what have enabled management to entice in fresh bulls with an attractive 12% dividend hike and the promise of additional…
Temporary power supplier Aggreko (AGK) is the standout underperformer this morning after a 3% fall in 2016 revenues was eclipsed by a 24% plunge in profits. While lower oil prices hurt it in 2016, especially North America, the challenging year was capped off with some nasty margin contraction. 2016 results may well have been in-line…
Macro observations For this week at least, the two hot topics that have driven FX space for what seems like the majority of 2017 – the US Federal Reserve and Brexit – may disappear off to stage right, with a climactic return written in next week. However, taking their space in the spotlight this week…
This week, I have the pleasure of writing about an astonishing week for global financial markets. Not only have we seen one of the largest IPOs of all time take place with Snap Inc. but we’ve also seen fresh all-time times on indices on both sides of the Atlantic. Of course, the plaudits will go…