Shares in Coca-Cola HBC are top of the pile this morning, back testing 2016 highs as investors welcome a better than expected set of FY 2015 results as sustained underlying volume growth in Q4 helped deliver a positive result for the full year and put management in a position to hike its dividend by 11.1%….
Glencore stock remains in recovery mode today, making a bullish breakout beyond 6-month falling resistance at 100p. This comes from positive investor reaction to the miner being able to refinance a major loan facility early. An existing revolving credit facility (RCF) of $8.5bn is being replaced by a new $7.7bn facility which is good news, keeping…
Mario Draghi’s speech at the European Parliament is essentially an exercise in reassurance, because no one – not even the central banks – knows what’s going on at the moment. The market simply doesn’t stay in one place long enough to be prescribed the right treatment. So we must wait until March for genuine talk…
GBP/USD (‘Cable’) GBP/USD (15-min) GBP/USD (daily) Macro observations Dovish US Fed rhetoric still the main driver for USD strength Bank of England more likely to hike UK rates than cut them in 2016 (yet more likely it’ll do nothing) Technicals (based on daily price data unless otherwise stated) Trading around 7-yr lows Circa…
Reckitt Benckiser shares have furthered their bounce from 4-month lows after its shares gapped 5% higher this morning. This comes as investors cheered consensus-beating FY15 results at both the top and bottom-line, a 12% hike to the dividend and management maintaining its guidance for comparable revenues up 4-5% this year and for moderate margin expansion in…
Analyst summary – 12 Feb 2016 Last week we wrote about handsome share price gains (10-35%) for many of the base metal miners (Anglo American, Glencore, Antofagasta) who benefited from a weaker US dollar (a boon for commodity prices) on fading expectations the US Fed could raise interest rates at all in 2016. Yay! Good…