1 week on from the historic vote, and it’s becoming increasingly clear that the UK’s economy is set to take a hit from the momentous decision to leave the EU. It’s obvious that after 40 years of being inside the world’s largest trading bloc, we’re geared for being there, not outside it. So there will…
Fresnillo (FRES), the safehaven equity play and silver miner, is topping the UK 100 this morning as the UK flagship index tries to close the week on an equally positive note to last Friday’s post-Brexit vote rebound. This as silver outperforms its yellow metal cousin with a breakout amid continued bias for safer assets. The…
If there was one phrase that could be the definition of ‘depressed’, it might easily be ‘UK banking stocks.’ The brokers are eternally hopeful the financial sector can regain its pre-crisis prowess, yet things just keep getting uglier and uglier for the banks. Now we’ve had the Brexit vote, what have the brokers got to hang on to?…
Macro observations The US Dollar surged on Friday given the double whammy or weakness seen in both GBP and EUR following the UK’s Brexit vote. While the short term is sure to see both bullish and bearish swings as further details emerge serving to smooth out political and financial uncertainties, the long term outlook is solid…
easyJet (EZJ) has joined peer Int. Consolidated Airlines (IAG) with a Brexit-inspired profits warning that sees its shares sharply lower again today, down another 15% after giving up 14% on Friday. This comes as the airline appears to capitulate in the face of mounting issues with Friday’s Brexit vote potentially being the straw that broke…
We can more or less forget the preceding week, save to say that markets were pretty sure we’d get a ‘Remain’ vote in the UK’s referendum on EU membership. The harder they come, the harder they fall, and that’s just what happened. What really matters is what followed throughout today – the 24th June. I’ll get…