It’s the UK Index Miners that are finding it hardest to get back to work after the long weekend, giving up 2-4% in a flat market. Holding back the sector are two drivers. The first is technicals after major breakdowns in the prices of key raw materials iron and copper, both barometers of global growth….
It’s the UK 100 ’s commodity contingent that is holding it back from more impressive gains this morning. A stronger USD is the result of from hawkish Fed chat weighing on metals prices (industrial and precious) and their Miners (down 2-4%) and a pullback by oil prices weighing on general sentiment for the key space. This is…
The major driver this week has been….. drum roll please….. Brexit! But not Brexit itself, more the propensity for UK macroeconomic indicators to fly in the face of the ‘doom and gloom’ warnings that have hitherto dominated the headlines post-referendum. On Tuesday, we saw a raft of UK inflation and retail sales prints smash expectations,…
The UK 100 ’s post-Brexit recovery has slowed up since mid-month but the fact it remains within touching distance of its post-referendum highs leaves me rather optimistic. Those two weeks spent range trading sideways may yet prove the consolidation required to help the index continue with its reversal from 2016 lows. Next week’s peaking of…
An exciting UK Index earnings season will peak next week, a long list of household names updating on recent quarterly performance. While revenues and profits are of course important, the Brexit situation means outlook is more key than ever. Prepare for some big share price moves by the likes of Barclays, Lloyds, BP, Shell, BT,…
Looking at the shares that have suffered most since Brexit is a common client strategy for identifying recovery opportunities and we could be set to see a great rotation. It’s human nature to consider the possibility that share prices will return to where they fell from. So my clients have me closely monitoring a handful of names…