Pearson (PSON) may have finally turned a page, its share price looking the perkiest in a long time; +11%. This comes courtesy of a reassuring and long overdue trading update comprising 6% underlying Q1 sales growth, in line with guidance. Coupled with a review of its US K12 business, and plans for another £300m in…
Next (NXT) shares are bottom of the UK 100 this morning after disappointing Q1 sales forced management to cut only recently issued FY guidance for revenues and profits. Today’s share price drop of 6.6% is the worst since January’s -14.4% reaction to a profits warning and very gloomy outlook. Thereafter you have to go back…
Last week I wrote about how a strong pound sterling was proving a hindrance for the UK Index and its many internationally exposed names (reminder). We are witnessing a similar drag on the index into this long weekend, GBP having embarked on another leg higher (bullish pennant?) versus the USD to trade its best since…
As we clock off for yet another Bank holiday weekend, this three-day break provides a fantastic opportunity for traders to take stock (no pun intended) of the week that was. The latest in a string of eventful trading weeks, we take a breather as we look forward to another jam-packed week ahead. Even if it is…
28 Apr CityAM “Crude oil prices have bounced back from yesterday’s sharp sell-off (Brent >$52; WTI >$49), one that was driven by continued fears about rising US output following this week’s inventory data compounded by Libya bringing its largest oil field (Sharara) back on-line, merely adding to headwinds Opec already faces with its production cut…
Macro observations Foreign exchange markets have started the week with some gusto as we digest the French presidential election first round results. The pollsters have won some redemption from 2016’s nightmare as centrist independent candidate Emmanuel Macron and Marine Le Pen, the right wing leader of the National Front, won the highest and second-highest amount…