Shares in Asia-focused Standard Chartered (STAN) are leaking most on the UK 100 this morning after Q3 profits (pre-tax, pre-exceptionals) missed consensus. Management highlighting still elevated loan impairments and expectations for markets to remain challenging is a message investors don’t want to hear. Not when data from China shows signs of stabilisation, soothing market fears…
In the 3 months since the Brexit vote, the UK 100 went from dire straights in the immediate aftermath to a bounce worthy of an Olympic gymnast as the foreign earners’ club lifted the index to post fresh all-time highs. But as we reach the home straight of third quarter earnings season, some of those…
Macro observations October is set close as the second worst month of the year for the Pound, as the start of November provides multiple central bank monetary policy updates that could see FX markets swing from one extreme to another in the coming days. Placing runner up only to the referendum month of June, ‘hard’ Brexit fears…
28 Oct The Telegraph Henry Croft, of Accendo Markets, said: “A negative opening call comes as expectations that the US Federal Reserve will hike base interest rates in December rise once more on strong US macro data reported yesterday evening while a mixed bag of overnight earnings from the US companies also weighs on market sentiment. “Fallout from RBS’s…
Lloyds (LLOY) shares have staged a remarkable recovery and are back in positive territory following the bank’s Q3 earnings release this morning that was headlined by a profit miss, a pension fund swinging into deficit and a £1bn PPI repayment bill. With profits down on expectations by 6% (-15% YoY) shares opened down by 3% this morning….
Macro observations It looks like the Pound may have finally found some footing against both the US Dollar and the Euro, although it will be macro data released this week that will have the greatest impact on all three currencies. Major event risk for currencies this week comes in the form of Q3 GDP expectations…