skip to Main Content

Free Newsletter: Actionable insight every morning for the self-directed investor. Find out more

Join

The Chancellor and Bank of England chief are giving their delayed Mansion House speeches this morning.

“Hammond is expected to use his address to push for a softer Brexit” commented Spreadex Analyst, Connor Campbell, ” urging the flagging Prime Minister to put the economy first.”

“Carney, meanwhile, is talking for the first time since May’s near 3% CPI reading and the Monetary Policy Committee’s subsequent – and unexpected – rate vote split, so investors will be keen to pick through his comments to see if and how the central bank is going to tackle the UK’s soaring inflation.

“So far the prospect of all this is being treated as pound-positive, if only just, the currency rising 0.1% against both the dollar and the euro. This in turn meant that the FTSE couldn’t get any momentum after the bell, the UK index opening flat at 7520.”

Over in the Eurozone, indices are still trading off the back of Emmanuel Macron’s parliamentary election victory over the weekend. The DAX pushed 0.3% higher while the CAC rose by 0.2%.

US equity markets closed at record highs last night as the Tech sector surged once again, leading the S&P500 to join its fellow blue-chip index the Dow Jones at a fresh record closing high.

Accendo Markets Analyst, Mike van Dulken noted “The large-cap ‘FAANG’ stocks – Facebook, Amazon, Apple, Netflix and Google parent Alphabet – all rallied, with Amazon trading a fresh all-time high shortly after the open. Unsurprisingly, the Tech-focused Nasdaq outperformed peers, up 1.4% in its best single session of 2017 so far.”

“the Tech resurgence suggesting the recent sector sell-off may have been more ‘tech check’ than the ‘tech wreck’ some had forecast.” he added.

Become a better investor with SharePad Designed to give you the confidence to pick your own investments, Sharepad gives you access to a wealth of information on UK, US & European stocks. Find out more

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Michael Morton

Michael Morton

Michael has worked within the Financial Industry for more than 20 years. Starting out as a financial analyst, he has extensive experience working with fund management groups and brokerages.

With an interest in Stocks and Shares, Funds, ETFs and Commodities, his investment focus is medium to long term gains, with the objective of financial security on retirement, and building wealth for his young children for their adult life. His broker of choice is Hargreaves Lansdown.

Stocks in Focus

Here are some of the smaller companies we are following most closely. They all represent significant growth stories in our view. Our in-depth reports go into more detail on why we like them.

Comments


Back To Top