By Tony Cross, Monk Communications
The heavyweight mining stocks are very much dominating the table, although it’s interesting to see house builder Taylor Wimpey performing so well in the light of its latest results, which revealed the fact that cancellations are up on the year, with investors instead happy to focus on improved earnings guidance. The support firm DCC is however leading the board in early trade, up by almost 8% after it ramped its profit targets for the full year.
Precious metals miners are the biggest losers so far this morning, with the falling price of gold driving sentiment here, whilst we have some of the classic defensive stocks – National Grid, Severn Trent and United Utilities – also struggling, underlining how the risk averse plays are truly out of favour this morning. There’s not much on the economic calendar today, but overall markets are kicking off the new week with a glass half full mindset.
With Donald Trump’s rhetoric softening by the day there may well be something to cheer, but the increasingly fractious outlook for continental European politics should not be ignored, either.