» » UK Market Update Thurs 04 April 2019: Ex Divs while Crude Oil test new 6 month highs

UK Market Update Thurs 04 April 2019: Ex Divs while Crude Oil test new 6 month highs

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GBP stumbled today dropping over 0.8% at pixel as UK political uncertainty mired the currencies’ recent progress. At £1.307, it is worth noting that sterling is  much healthier than few months ago's $1.25 level and looks set to move further north rather than breach the $1.25 low seen at the start of ’19.   All of the UK indices closed mildly in the red today in the range -0.1 to 00.6%. Much of today’s index losses can be attributed to ex dividend activity.

MCRO progress was stunted today by a Citi downgrade , shedding 6%, DLG dropped : Saga fell over 37% on poor results. Amongst the AIM megacaps, ASC dropped over 5% with BOO down 2% and PRSM down 4% while DTG rallied 3.5%

Brent crude rallied 0.3% closing just shy of $70 and looks set to clear its 200MA for the first time since Nov 2018. Copper yielded 1% from its  recent strong rally while the iron ore rally continues with ton prices now above $91: gold was flat on the day at $1293 while silver slipped 0.3%

Market sentiment remains remarkably calm with little movement across the VIX, VFTSE and VSTOXX.  The US Fear and Greed Index is at 62, greed while the AAII survey puts investors at neutral to bullish

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