Next shares have extended their October reversal after a disappointing trading update. Poor Q3 sales growth (Retail -7.7% vs -3.7% est; Total +1.3% vs +2.9% est) and a narrowing of FY guidance (essentially a cut to the top end) have not gone down well. Directory Sales actually beat guidance, accelerating in Q3 (13.2% vs 11.4%…
Heavyweight BP’s Q3 results have sent its shares over 3% higher, adding a significant 12pts to the UK 100 index this morning. This comes after the oil major delivered a consensus-beating $1.87bn in Underlying Replacement Cost Profits (preferred industry measure), reporting its highest refining earnings in five years and good news of its E&P segment…
Macro observations As earnings season draws to a conclusion for another quarter, the focus for foreign exchange traders will be firmly set on geopolitics and central banks as a raft of potential market bombshells are prepared this week. Things get off to a flying start as we expect the first indictments from former FBI chief…
27 Oct The Armchair Trader (Link) Accendo Markets analyst, Mike van Dulken commented on the results, “It may still be a case of “next year Rodney”. However, given where the bank has come from in terms of travails, this morning’s positive reception to the Q3 update suggests shareholders still of the view that, in the grand scheme of things,…
Things just got interesting. Just as some traders began to assume earnings season was bumbling towards a lacklustre ending, a multitude of shocking UK 100 results day moves have caught the attention of investors. Most notably, Barclays (BARC), the second largest UK bank by assets, dived 7% on Thursday following disappointing investment banking revenues, only a…
There are two ways to get a trade wrong. Actually, there are lots, but let’s concentrate on two of the most important to help transform you from a good to a great trader. Firstly, a trade can go against you for reasons you could never have foreseen. Think profits warning or a big currency move after…