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…
The UK 100 index is now just 200 points from making fresh record highs. It’s been an incredibly strong finish to the week with the UK blue chip index shrugging off a heavy 36 point dividend impact on Thursday to break back above 6900 – a bullish sign that markets are reacting well to the…
Macro observations One of the most pertinent drivers last week was the surprisingly strong US jobs report. US rate hike expectations increased on the news with the probability of a September move rising, but a December hike more likely still. Markets still appear to be pricing in neither, however, as US and global monetary policies diverge like never before. So…