It’s fair to say that there’s still a degree of head-scratching going on as to where markets go now in the wake of that shock win for Donald Trump in the US presidential elections, but digging into what policy details we do have, it’s difficult to imagine that this honeymoon period for stocks can last all that much longer.
Standard Life is topping the London index in early trade with a price target upgrade from brokers lending support here, whilst Hikma is one of the biggest fallers, again driven by a broker note, driving the stock under its pre-election lows. With a rather subdued economic calendar, direction seems unlikely to emerge off the back of any fundamentals, meaning it’s all going to be about sentiment. We’ve already seen some of the froth knocked out of the FTSE-100 over the last couple of days, but it would be little surprise if we saw further profit taking ahead of the weekend break.
