Waiting game29 Jan 2024 10:54
Whilst I've done well with M&S shares I decided to bail out selling 80% Jan 11th & the balance the 16th. I still believe in M&S but I think last year was full of positive sentiment (results, return to FTSE 100, inflation dropping, talk of rate cuts, Xmas where M&S normally outperforms etc) which I don't think will all flow through into this one, at least not until the FY results come out. International, although small, made a loss in the Xmas trading update, citing India as problematic. They have been investing heavily there recently and it's worth noting that the MD resigned after less than 2 years in the role. I hope I'm wrong but I think there will be more negative sentiment in the markets after the Fed & BoE meetings this week with inflation still sticky whilst pushing back any talk of rate cuts. Therefore I'm a watcher at the moment but keen to jump back in at the right time (which I'll probably get wrong ;-)