Remember that minor referendum the UK had on EU membership at end-June? You’d almost be forgiven for forgetting it ever happened. The only thing that has really changed is the value of the pound while UK stocks have delivered a stellar 20% recovery to beyond pre-Brexit levels and a host of macro-economic data (inflation, jobs, retail…
19 Aug Citywire Equities are on the back foot into the end of what has been a week of reversal from post-Brexit highs,’ said Mike van Dulken, head of research at Accendo Markets. ‘Markets remain hopeful that the generous monetary policy circus still has life left in it to fuel the tandem rally of both equities…
What we’re seeing a lot of nowadays is companies blaming Brexit when things aren’t going their way. This morning, for example, shares in insurer Admiral Group went down by 7% after its H1 2016 results missed analysts’ forecasts. The reason? Brexit! Meanwhile construction firm Balfour Beatty saw its share price rise by 7% after its…
Chilean copper miner Antofagasta is the standout performer in early trade this morning, this despite it being a down day for the UK 100 index. The shares are up an impressive 4.4% today thanks to a handful of drivers including management assuaging investors by reaffirming higher Full year output guidance, even if it looks to be…
Macro observations Data from both the US and China disappointed last week, and subsequent pressure on the US Dollar all but confirmed that investors’ attention is fixed there rather than on emerging markets. It’s all about monetary policy and, while markets tend to bet on stimulus and other sorts of meddling from the People’s Bank of China when there’s…
While many investors have sat on the side lines, lamenting Brexit and economic Armageddon in the UK, 6000 has become 6900. US stock markets have continued to make record highs despite having a central bank that’s desperate to have everyone believe it’ll raise interest rates. Of course markets there are very happy indeed that it…