» » UK Market Update Mon 15 April 19: FTSE 250 and AIM All-Share Continue in Catch-Up Mode

UK Market Update Mon 15 April 19: FTSE 250 and AIM All-Share Continue in Catch-Up Mode

posted in: Market Narrative | 0

While the big cap indices stayed flat today, the FTSE250 and the AIM All-Share continued their recovery up 0.6% and 0.7% respectively. The lifting of the Brexit fog combined with the start of a new tax year and fresh capital allowances have helped to lift the smaller cap indices.

Brent crude pulled back 0.6% while GBP staged what may be the start of a small recovery bounce rallying above the $1.31 as the currency reflects the reduced worry of the economic damage of a hard Brexit.

In sectors, Mining took one of the biggest hits down 1.5% with gold miner Acacia down almost  13% owing to production problems at one of its mines.  Gen Retail, Tobacco, Life Insurance and F&D retail were all in the green by 0.8-1.2% in a fairly broad rally across indices

Market sentiment continues to show relaxed investors who are not expecting much volatility in the coming month or so, this despite the start of earning season. Clearly many investors are expecting good things in the weeks to come, in the current market, even the smallest failures have been severely punished so this rally could well be upset if bellwethers disappoint

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