Macro observations What a week it was for the Dollar, as the global reserve currency posted its longest string of positive sessions since 2013 to reach a record 13-year high when weighted against a basket of its peers. A bout of increased optimism of the state of the US economy under the leadership of President-elect Donald…
18 Nov Telegraph Mike van Dulken, of Accendo Markets, said: “Calls for a positive open in Europe come thanks to Fed Chair Janet Yellen sending the USD through the roof by suggesting a December rate hike could be appropriate ‘relatively soon’, which markets take as next month. The reciprocal of this – a weaker GBP and EUR – are…
‘What a week and what a year. And it’s not over yet!! Any traders/investors seeking even a little respite from the market excitement that we are witnessing will, I’m afraid, be sorely disappointed as we envisage anything but a docile conclusion to 2016. Many key dates lie ahead in the calendar certain to move markets…
This week’s UK Index winner is supermarket Tesco (TSCO) whose shares have climbed an impressive 6.7% as investors went wild in the aisles for a broker upgrade (HSBC upgrades to Buy from Hold, target increased to 260p from 195p) and helpful monthly market share data. The importance of broker upgrades (and downgrades) is indisputable with…
Royal Mail shares are bottom of the postie’s bag this morning, investors uninspired by H1 results. A 5% fall in underlying operating profits on revenues +1% may have beaten consensus, and a 5.7% dividend hike and 20% increase in cost cutting plans may well be good news.However, there were no London property disposals (Brexit?) and letter…
Barratt Developments (BDEV) is the UK blue-chip laggard this morning after negative messages within a Q1 trading statement offset a solid order book and reiteration of FY guidance. Weakness in the higher priced and higher margin key London market requiring ‘price action’ (management means discounts and disposals) is a concern for investors, especially after such…