Another day in green for the UK markets with a better than expected UK employment number this am. This helped to lift GBP up 0.25% on the day while the FTSE 100 was up 0.3%, the FTSE 250 and AIM All-Share up 0.1% . Crude sold-off over 1% and is below the $63 mark. The TechMARK has rallied back strongly but has yet to break out above the previous 2019 high of 3640 set in March. It does look set to make another attempt soon. Both the NMX and the UKX look bullish with good breakouts in evidence while the MCIX is turning increasingly bullish. That said, today's price action shows signs of fatigue with a potential for a pullback especially if crude continues to weaken. Continues GBP strength would also adversely affect the FTSE100.
Woodford’s much beleaguered Patient Capital trust caught a bid today up 7.5% although HL. continues to sell-off as the FCA is urged launch an investigation into the impartiality of Fund’s Best Buy Lists with which HL. Touted Woodford’s Equity Income Fund
In the 250, TED dropped almost 30% on results while in AIM TAP lost almost 40% of value on news of a court case in the US on alleged fraud
Market sentiment supports recent bullishness with muted VIX scores as the US is at 16, UK below 12 and Europe below 15. The Fear Index has relaxed back to 37.
FTSE 100 ( +0.3% 72 Rising , 27 Falling, 8 Unch.)
TOP GAINS: HLMA +4%, JE. +4%, NMC +3.7%
TOP LOSSES: CNA -1.8%, HL.-1.8%, TSCO -1.3%
FTSE 250 (+0.1%: 120 Rising , 116 Falling, 14 Unch.)
TOP GAINS: WPCT +7.5%, KAZ +6.6%, AML +5.5%
TOP LOSSES: TED -29%, FCH -9.6%, ETO -4.9%
AIM All Share (+0.2% 211 Rising , 255 Falling, 313 Unch.)
TOP GAINS: SNT +29%, BZT +17.6%, TOM +16.7%
TOP LOSSES: TAP – 36.4%, MPM -36%, AXM -29%