Crude oil made its biggest intraday move since Dec 2018 today dropping almost 5% despite better than expected GDP results in the US. Despite the sizeable move, crude is up over 30% ytd. GBP rallied almost 0.3% against USD but remains south of the $1.30 handle.
The UKX reversed its earlier loses today closing flat on the day in a move that does look bullish. While WPP cheered with results, RBS dropped 4% on poor results and the yesterday’s departure of its CEO . JE reported better than expected results but guided down and dented its SP by over nearly 5%. GLEN dropped over 3% while BP. Gave back 2.5%
The MCIX was unchanged on the day: CCC delighted with its result and rallied over 18% which offset the almost 30% drop in FXPO as auditor Deloitte dropped FXPO over questionable charity donations. HSTG dropped almost 13% on poor results while SGC rallied almost 10% with AJB up 8% on results
The AIM All-Share continued to claw back gains making another 2019 high up almost 0.5% today, with big caps PRSM +7% and ABC +4% did a lot of the lifting.
Gold rallied off a base today up almost 0.9% on the day, copper up 0.8% while iron ore is up 0.2%.
In market sentiment, VIX across the board stayed low dropping around 3-5%: the F&G Index remains on greed.
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