Energy stocks lead the week after oil rallies back past $40 a barrel The top line figures for the major US stock indices do not tell the full story of last week. Given their dominance market cap wise, the tech giants can easily swing indices into the red even when other sectors are performing well.…
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AstraZeneca pauses Covid-19 vaccine trial The pound continued to slump yesterday, falling below $1.30 after reports that the UK is stepping up preparations for a possible no-deal Brexit. The tumbling pound buffered UK stocks from the broader Tuesday sell-off globally (as large UK firms make a significant proportion of their money overseas in other currencies)…
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House of Fraser sets landlord ultimatum Thursday was a gloomy day for UK stocks, with the FTSE 100 sinking by 1.6% and the FTSE 250 off 0.5%. Asset managers were some of the names dragging the FTSE 100 lower, with Standard Life Aberdeen and M&G both sinking by more than 6%. Miners were down across…
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Utility names lead FTSE 100 higher Despite the official news that the UK entered the worst recession on record in Q2, London-listed stocks soared yesterday, with the FTSE 100 adding 2%. That gain took the index to a three week high. Utilities stocks were among the biggest winners of the day, with Severn Trent, Pennon…
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FTSE 100 back below 6,000 on struggling banks and US economic woes Financial firms led the FTSE 100 2.3% lower on Thursday amid profit warnings from Lloyds Bank, the UK’s largest retail bank, and jitters caused by dire GDP data from Germany and the US. The FTSE 250 meanwhile was down a more modest 1.3%.…
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UK stocks cool on Brexit trade fear and China tensions Both major UK stock indices fell on Wednesday on the back of rising China tensions and Brexit trade gloom, with the FTSE 100 down 1%. Both indices dipped on the news that the UK Government was close to ‘giving up hope’ of a Brexit trade…
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What to watch US home sales: On Monday, existing home sale data for May will be released in the US, with a figure of 4.2 million anticipated, versus 4.3 million in April - a figure that was 18% lower than March’s number. New home sales data will then follow on Tuesday, with the pair of…
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What to watch Zoom Video Communication: The rise of Zoom has been dramatically accelerated by the coronavirus pandemic, which has propelled it into both the public consciousness and companies worldwide. The company’s share price gained 13% on Monday ahead of its latest set of quarterly earnings on Tuesday, as investors are widely expecting an impressive…
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What to watch Walmart: Grocery giant Walmart’s 90% plus share price gain between the beginning of 2016 and end of 2019 was in part driven by the firm’s successful transition to an online world. The company reports its Q1 2020 earnings today, having outperformed the broader market by a significant margin in 2020. Year-to-date,…
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UK stocks sink on GDP figures, US headlines Despite a Friday rally, London-listed stocks sank last week. In addition to the headlines and economic data out of the US, investors also got a view into the impact of the pandemic-induced lockdown on UK GDP, alongside March industrial and manufacturing production numbers. The UK economy shrank…
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