The old adage says “Sell in May, go away, come back on St Leger’s Day”, based on the theory that equities underperform in Summer. With the eponymous Doncaster horserace set for this Saturday, and the UK 100 well off May’s record highs, are we set for a seasonal rush back into equities? In some ways…
Friday, 14 September Reuters “Traders (are) hopeful about U.S.-China trade talks despite President Trump being the fly in the ointment, downplaying prospects for quick negotiations,” Accendo Markets analyst Mike van Dulken said. https://uk.reuters.com/article/uk-britain-stocks/UK Index -tracks-europe-higher-on-trade-hopes-shire-shines-idUKKCN1LU14H Thursday, 13 September CityWire ‘The UK retail sector finds itself on the wrong side of the UK Index fence this…
The Resource sector is one of a few big winners this week, with base metals Miners posting several days of excellent returns. But we’ve seen small jumps for Glencore, Anglo American and Rio Tinto already this year. Could Miners finally turn the page on a miserable year? Traders who invested part of their portfolio in…
The UK Retail Sector finds itself on the wrong side of UK Index fence this morning, with more signs of pain on the high street. Grocer Morrisons may have reported its best quarterly growth in nine years, and offered another special dividend (smaller than last time, mind), helping its shares +0.4%. However, retail peers like…
Shares in equipment rental company Ashtead are +3% in early morning trading after the company beat market’s consensus expectations, growing Q1 underlying rental revenue +19% YoY and pre-tax profit +23% thanks to strong market demand for tool rentals and weaker GBP (Cable is down 9% this year). In further benefit to shareholders, Ashtead announced improvements…
Shares in international food, retail and ingredients group Associated British Foods are -3.3% this morning, extending the 2018’s -22% share price downtrend to levels last seen in June 2016. The company’s latest trading update painted a mixed picture for business outlook and while trading at its core Primark division was 5.5% higher at constant FX,…