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Morning Round-Up: Ashtead, Oil giants, FTSE and US equities


The FTSE was up a tad in early trading, posting a three point rise after the bell this Tuesday morning.

It’s the Oil giants that are keeping the FTSE in positive territory as news of the closure of a major North Sea pipeline for repairs boosts oil prices. FxPro analyst, Edward Anderson commented “WTI is 0.45% higher overnight to trade around $58.33 in early Tuesday trading. With a major Brent pipeline “off-line”, for major repairs, Brent’s rise has pulled WTI higher.”

The mornings biggest riser though, has been Ashtead. A rise in profits of 16% in the first half has given its board the confidence to announce that profits for the full year will be ahead of expectations. On top of that, a £1bn share buy back and increased dividend has boosted the Ashtead share price by 3.5%.

Over in the US, “equity markets notched yet more record highs on Monday, with both the Dow Jones and S&P 500 reaching fresh highs, while the Nasdaq outperformed on Tech sector strength.” Noted Accendo Markets analyst, Mike van Dulken. “ Apple and Disney led the Dow higher, offsetting Boeing weakness, while Energy names helped the S&P to a fresh record close.”

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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