Lloyds Banking shares are on the back foot this morning after Q3 results, despite no new PPI provisions making for a rather refreshing change. Also being ignored is upgraded FY guidance. Investors are clearly more concerned with increased loan impairments (single large corporate + MBNA acquisition), worried about the potential for this to worsen into…
Macro observations Having remained an observer of foreign exchange movements for much of the fourth quarter so far, the Euro will claim back the headlines with some gusto this week as the Catalonian constitutional crisis comes to a head, while the European Central Bank is finally set to announce a major policy change. Both the…
It’s a 50/50 split for UK 100 risers and fallers this week, the index itself flat. But this masks the fact that ten of the hundred are up/down by more than 5%, some by around 20%! For blue-chips it’s been a truly exciting week with plentiful news flow and the index holding within touching distance…
As we reach the tail end of third quarter earnings season, there are still some major players yet to report their figures. None more so than the lifeblood of the UK economy, the Banks, with the four major players in the sector beginning announcements from next Wednesday. Furthermore, with the UK 100 only 50 points…
Shares in Interserve are up another 14% this morning, extending yesterday’s 30% rebound from profits warning lows (down up to 40%), its second in a month and third for the year. A major contract win (5yr, £227m, facilities management for UK Department for Work & Pensions) offers hope after management highlighted a worrying deterioration in Q3…
I’ve lost count of how many times I’ve heard “it’s got to pull back from here, surely”. Meanwhile the tally of record closing (and intraday) highs grows. The Dow has pushed through 23K, the S&P above 2550, the Nasdaq has bettered 6100 and German DAX smashed through 13K. As a group they have registered nearly…