Hays is the UK Index ’s top riser this morning, its shares +5.3% to trade their best since late February when the shares fell 4.5% from near 2018 highs after disappointing H1 results. As it stands, the shares are building on recent positive momentum (they were already +7% from recent lows), pointing towards another test…
Sky shares are -1% this morning, despite 39% owner Twenty-First Century Fox (17% owned by Rupert Murdoch) upping its offer for the remining 61% stake by 30%. Why? Because the 1400p/share offer represents a 6.3% discount to where the shares closed yesterday (1500p), having doubled since Fox’s first offer in December 2016. This rise was…
Shares in interdealer broker TP ICAP plummeted 33% in early morning trading after the company axed its CEO on the back of a highly disappointing trading update; in both results and outlook. The company blames FX headwinds and increased broker compensation for undershooting profits expectations, but the profits warning itself was small fries compared to…
The strongest factors influencing the direction and momentum of Foreign Exchange (FX) rates are changes in the key interest rates, themselves highly sensitive to macroeconomic data such as inflation and economic growth, as well as geopolitical concerns. Higher interest rates tend to render the currency more attractive (and vice versa) which, in turn, can result in it…
The first shots were fired overnight and responded to this morning. $68bn worth to be precise; $34bn in US tariffs on Chinese goods around midnight, and a reciprocal amount from China, just a few hours later, in retaliation. The question now is whether these opening salvos prove to be the first in a series of…
Next week sees the start of quarterly reporting season in the US, which means that it won’t be long until companies begin reporting results here in Europe too. Why so important? Because a certain key sector, namely the Banks, is first up. And this can offer a great indicator of economic health and thus a…