Another week, another record for Wall Street. The world’s most followed stock market indices once again notched record closing highs this week, with the Dow Jones Industrials Index cruising past 24,000 for the very first time. But why has the 30-stock index waited until this week to move sharply higher, and could this latest leg…
Shares in Marstons are 10% to the good this morning, extending their rebound from 100p. This is thanks to statutory pre-tax profits growing three times as fast as revenues (revs +8% profits +24%) on strength from its brewing segment and higher average profits per pub. Even if underlying growth suggested the reverse (revs +10%, profits…
Macro observations As if 2017 hadn’t already faced enough election battles, Ireland is shaping up to be the next European country to face a run-off between party leaders. An ongoing scandal engulfing the Deputy Prime Minister, or Tánaiste, threatens the prospect of the opposition calling for fresh elections. As the Northern Irish border becomes the focal…
Stocks with supposed ‘defensive’ qualities (e.g. Utilities, Telecoms, Health, Tobacco, Consumer staples) should be less sensitive – if at all – to the economic cycle, acting as portfolio buoyancy aids to limit damage when risk appetite sours and your more sensitive, higher beta stocks (e.g. Miners, Financials, Property, Oil) turn south. But that doesn’t mean…
Next week holds a big day for one man in America. Jay Powell, a current Fed Governor, will go through a gruelling job interview that could see him become the next Chair of the Federal Reserve. But why would this affect someone who trades the UK 100 ? It all comes down to the US…
Shares in Mitchells & Butler are down 10.2% this morning, dragging peer Greene King 4.8% underwater. This after it reported an 18% decline in full year pre-tax profits (adj. op profit -3.2%) as inflationary pressures hit margins to offset 1.8% growth in like-for-like sales (total revenues +4.5%). Even if Q4 was hurt by disappointing weather,…