This week the UK 100 broke back out of its 2-week sideways channel, giving bulls hope of a return to record highs. The index may only close the week 0.3% higher but blue-chip traders benefited from attractive share price moves of +/- 7%. As we write, the index has potential to see prior resistance turn…
With Alcoa giving up its coveted position as the curtain raiser for US earnings season earlier this year, it’s unsurprising who has swooped in to take pole position. Three US banking giants have swiftly cemented themselves as the opening act, preparing us perfectly for UK Banks’ own reporting season, beginning 27 July. Today’s figures from Citibank,…
Construction and support group Carillion (CLLN) shares are down another 18% this morning to 99p/100p having breached Q4 2002 support at 106p to trade levels not seen since late October 2000. After yesterday’s 39% drop, this takes the declines to 48% in less than two sessions. Investors (both those nursing losses and those circling for…
Macro observations Central Banks remain the key drivers of foreign exchange markets, with policymakers in both North America and Europe continuing their gradual turn towards a more hawkish standpoint. However, investors now have to decide who is in the strongest position to amend current accomodative policies. Has the Fed tinkered too much, too soon? Will…
The headlines this week have been dominated by several speculative M&A reports involving some of the largest companies in the UK. After all, it’s not often that a UK 100 giant will be approached by another firm looking to purchase it, let alone two in a single week. The first story detailed multiple supposed takeover…
We look set for a flat UK Index finish this week, however this masks the exciting gains and then declines for Miners and Oil (and gains for housebuilders and financials). Which is great for those who missed out, as it offers another bite at the uptrend cherry next week. Especially with the index still holding…