Mrkts.24 Apr 2018 06:58
Markets did little till around 3 then the 100 put in a quick spurt to close 31 better on the day (7399).The A/S, 250, S/cap & Aim all gained. Miners led advances on Russian sanctions effecting supplies of key metals. Whitbread rose on news of the likelyhood of selling off its Costa Coffee division which activist investor Elliott has been urging them to do. Outside the 100 Capita rose 11% on new strategies planned and a RI to raise £700m. Bigest faller was Prothena which slumped 70% on news of flagship drug had failed to meet its primary end point and all spending will be stopped immediately. Woodfords PCT fund tanked 10% -- it has 9% of Prothena one of his bigger holdings. Woodford doesn't seem able to catch a break atm but to be fair he invests in start ups and high risk drug firms, many of which fall by the wayside. TSB had a royal screw up on the overhaul of its tech systems while migrating customers elsewhere.
Data breaches and inaccurate customer balances added to client woes. Rate rises might be on the back burner as UK growth is forecast to lag all other major economies and Brexit worries are back in the forefront of mrkt concerns, not the time to add to consumer costs....one would think. Like London the US markets were flat posting small losses. The S&P has just posted its longest run in 'correction' territory (51 trading sessions) and is off 7% from peak the Dow (-8%) & Nsdq (-6%). Asia is having a good day Tokyo up 173, HK up 324 & Shanghai gaining 65 heading towards close. The nos: Oil $74.93 - Gold $1325 - Vix 1634 - £$ 1.395 - £€ 1.142 - Bcon $8792 - FF (+5) - DF (+70). A vacancy has arisen in the early morning slot.This is my last post. I could blame writers cramp but you wouldn't believe that. A new slant / refresh is needed imo. So
interested parties should send CVs (no expertise required) to the G committee. Cheers and morning all.