Silver miner Fresnillo trades fresh 2018 lows after a 12% share price plunge Thursday and another 7% today. Why? Analysts at Morgan Stanley downgraded it to Underweight and cut their target to 715p (from 1100p). Why? A series of bills in the Mexican parliament that could restrict mining. This highlights a glaring issue for long-term…
As we move into the weekend the UK 100 is bouncing from another flirt with round number 7000, albeit still stuck in what is now a week-long sideways channel with a 7000 floor and 7100 ceiling. Uncertainty remains with regards to UK politics and Brexit, which could yet move GBP next week with a knock-on…
The biggest blue-chip faller over the past several weeks has been UK Index tobacco manufacturer British American Tobacco (BAT). Its shares have now hit 7-year lows, having fallen close to 25% in the past 3 weeks and -46% year-to-date. The latest news hurting British American Tobacco originates from the United States where government regulator the Food &…
Having recovered some of last week’s sharp losses, the UK Index is back trading within a 5-month falling channel. Can it extend its rebound to revist the channel ceiling around 7350? Although still 100 points away from November highs, the index is firmly out of sell-off territory, as the Bulls provided enough optimism to regain…
If anyone says that the UK’s UK Index doesn’t currently offer good buying prospects, or not enough volatility to make it worth their while, I’m not sure what UK Index they’re looking at. The UK 100 is 10% from 2018 highs, and a 3.5% bounce from a recent flirt with 2018 lows means potential for…
Shares in UK Index cybersecurity company Sophos have taken a hammering today following a disappointing set of half-year results. After multiple suspensions in early trading, which saw the shares fall as low as 280p (-38.6%) the shares have now pulled back to a less catastrophic, though still bruising, 335p (-26.5%). Why such a drastic share price move?…