Although the UK Index looks to close out the week +40pts, we are trading around the floor of a week-long 6975-7075 range. Why? Traders are factoring in the risk of little-to-no progress on the trade war resolution front, despite President Trump and Chinese counterpart Xi organising a tete-a-tete at the G20 in Argentina. Banks…
Building on what my colleague wrote yesterday about Tuesday’s upcoming UK Index review (a.k.a the Quarterly Reshuffle), I thought I’d look at all the shares in contention for a move up or down on Christmas Eve. This includes changes between the UK 100 blue-chip index (think Premier League of football) and the mid-caps (think Championship). It…
The worst performing UK Index sector in the final trading session of November are the Housebuilders (-3.6% in aggregate). This in spite of Nationwide House Price data showing UK home prices +1.9% YoY in November, beating expectations of +1.7%. What’s driving the Construction sector decline and are there any nuggets of gold in the muck?…
Deck the halls with risers and fallers. ‘Tis the season for the quarterly UK Index review and everything points to Royal Mail ending up on Old Nick’s naughty list. Next Tuesday is the cut-off date for determining who’s too small (by market capitalisation) to stay in the UK 100 (“blue-chips”), and who’s big enough on the…
Just two days before it was scheduled to publish full year results Thomas Cook delivers yet another profits warning. The first two pushed the shares -74% from 2018’s 150p peak to its 39p trough. Today’s hat-trick-maker has lopped off another 20% (-32% at day lows ), undoing some of the late October bounce above 50p, putting…
After a brief flirt, Wednesday, with the ceiling of November’s falling channel (7065), the UK Index is on the back foot into the weekend. Losses from the heavyweight Oil majors and Miners are overpowering the strength from a selection of Defensives (tobacco, pharma, telecoms) and high-street Banks (Lloyds and HSBC). The Pound Sterling has been both…