Cable, four-hour Having made a fresh three-month high around $1.275 overnight, the pound has now retreated somewhat against many currencies today including the dollar. More news of the UK’s lockdown being eased is awaited, and a general weakening of “risk on” so far today has weighed on the pound somewhat. No real progress was made…
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What to watch Chewy: Online pet food and supply retailer Chewy has been a natural beneficiary of the coronavirus pandemic, as large numbers of people have chosen to adopt dogs and other pets during this period. At the same time, many haven’t been able to go shopping physically. The company reports its latest set of…
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EUROPEAN SHARES European shares were little changed on Tuesday with this week’s consolidation phase continuing ahead of tomorrow’s Fed meeting. Even if the strong bullish pace on equity markets slowed significantly this week, the lack of sharp downside corrections prevents the current trend from being really threatened. This lateral tone in the very short-term is…
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What to watch Coupa Software: California-based Coupa provides software that helps large companies maintain oversight of how money and resources are spent within their businesses. The firm’s share price has jumped 48% year-to-date and is up almost 80% over the past 12 months, as cloud-based software providers have become an investor favourite with large swathes…
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OIL The oil price has started the new week in green as investors are celebrating the deal reached by OPEC+ over the weekend. The WTI price for both July and August expiry has now reached and surpassed the psychological threshold of $40, while the general sentiment remains positive as markets are betting on a quick…
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What to watch US jobs report: On Friday the Labor Department in the US will release its May jobs report, which includes data on non-farm payrolls, the unemployment rate, and average hourly earnings. The report captures the period ending on the 12th of the month, so will not reflect the start of moves to reopen…
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EUROPEAN SHARES A raft of bullish factors saw European Stocks open significantly higher, following the tone set by Asian markets overnight, and with US Futures also pointing to a firmer open, trading optimism has rarely been this high. The party goes on for stock traders after the ECB surprised investors by announcing a higher than…
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FTSE 100 and 250 soar in lock step Both of the UK’s major indices jumped 2.6% on Wednesday, with the FTSE 250 now up 12% over the past month. London-listed stocks remain well behind their US counterparts but have been making solid progress in recent weeks. The gains reflect investor optimism about both the UK…
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What to watch Campbell Soup: Campbell’s Soup has been one beneficiary of the pandemic, as investors rushed to stock up on canned goods and other cupboard staples. The firm’s share price is up 5.2% year-to-date, and 36.5% over the past 12 months. Investors will be watching for growth in the company’s snacks business, and details…
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OIL Risk-on is still the main story on stocks markets as investors are betting on a quick recovery of economies. This scenario, in conjunction with expectations for an extension of the cut by OPEC, is lifting oil. Moreover, the API released figures yesterday announcing a modest but surprising draw of half million barrels in the…
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