Mrkts..15 Jan 2019 05:37
Late into the pm session the ftse was trading down 67 awaiting the crucial vote tomorrow, result after the mrkts close. It was very much a risk off day for invstrs. Sterling rose to a 7 month high ($1.285) on May saying she had received valuable new assurances from Brussels.
Whether that will be enough to save her skin is doubtful but should she pull a rabbit out of her hat and the DUP are minded to support her some MPs might switch sides.
Stocks in focus were miners and oils mostly lower on the OP and China data. RBS added 7 among banks. Strange happenings on flybe in receipt of an offer from Virgin at 1p rose to 4.12p as ex Stobart CEO picked up a 12.2% stake.
At the close the 100 was off 63 (6855), All down 33, the 250 fell 125 (18418) and Aim down 6 (904).
In NY stocks came under selling pressure from the bell sinking to a low of 23765 (-231) as the Q4 banking report season gathers pace. Citigroup rose c 4% on profits beating estimates but short on revs.
Others reporting this wk are W.Fargo (a core Buffet holding) JPMC both today and Goldman, BOA (both Buffet stocks) on Wed & Morgan Stanley on Thursday.
Incidentally Buffet owns 700m shares in BOA, 11.4m in Goldman and 482.5m in Wells Fargo as of 2017.
A sour note to the days trading was the
announcement from PG&E Corp a gas/electricity Co filing for bankruptcy, shares tanked 52%.
The Dow fell back late on to close down 86 (23908) the 500 off 14 (2583), Nsdq -66 (6906) & R2000 lower by 15 (1433).
Diff picture in Asia mrkts up across the region on news from China that they will be instituting measures to reduce burdens on companies. They also said that 2019 GDP is forecast at 6 to 6.5%. TK up 178 playing catch up, HK gaining 430 and SH adding 22.
The nos: Oil $59.71. Gold $ 1290. Β£$ 1.290. Β£β¬ 1.124.
Vix 19. FF+48. DF+150.
Morning all.