» » UK Market Update Fri 17 May 19: Pound Takes Another Pounding, Markets Flat

UK Market Update Fri 17 May 19: Pound Takes Another Pounding, Markets Flat

posted in: Market Narrative | 0
Market Sentiment CLICK TO ENLARGE IMAGE

UK Markets            FTSE 350         FTSE 250    AIM All-Share       Short Interest         Market Sentiment         Sector Deep Dive

Click on the above links to open the individual market reports

GBP continued to slide as the Con-Lib talks ended without a compromise on Brexit and May’s departure looks set. Given her replacement is likely to be a staunch Brexiter, the risk of a hard Brexit once again stalks the markets and the currency.  Brent also took a pause today down almost 1% but still north of the $72 mark. The FTSE, 100, 250 and 350 closed almost unchanged while the AIM All-Share yielded -0.25%.

Market sentiment stayed little changed  although the weekly AAII Sentiment survey in the US shows a shift towards bearishness with  39% Bearish and just 30% Bullish with 31% Neutral

FTSE 350 Sectors and Outperforming/Underperforming Shares CLICK TO ENLARGE IMAGE

AIM ALL Share (-0.25%)

AIM All-Share  dropped -0.25% ; STAF shocked markets on a profit warning and dropped 61% while MYSL lost another 38%

FEVR lost 2.5%, ASOS -1.5%  BOO -1.5& and PRSM -2.6%

AIM All-Share Sectors and Outperforming/Underperforming Shares CLICK TO ENLARGE IMAGE

Short Interest

Metro's big 26% rise today was a great example of a short squeeze as good news on its shares' placing left shorters scrambling to cover: ARW now takes poll in the most shorted share as MTRO  dropped from almost 12% yesterday to 10.8% today though it is highly likely many more shorters closed today which will be announced in the coming days: today's volume in MTRO was treble the normal daily volume.

 

UK FCA Short Interest CLICK TO ENLARGE IMAGE

Leave a Reply

Your email address will not be published.