While the UKX and NMX closed flat on the day, the MCIX and AIM roared back today both lifting over 1.5% with numerous stand out performers recovering 5-15% in price. Clearly confidence is returning to beaten-up markets with dip buyers spotting bargains

BT rose over 10% today on an earnings beat while in the MCIX, SPI rose 12%, JUST 11.5% and TCG 11% with numerous other shares rising 5% or more. Crucially all of the major indices closed above their 21EMAs for a second trading session which is a good sign that confidence is returning. The TASX also rose 0.8%.

Stand-out sectors (apart from BT lifting Comms) were Gen Retail Mining and Computers all up over 2%. Underperformers were O&G and O&G Services down 3.8%, Pharm -1% and Beverages -1%

GBP also roared back today up almost 2% on the day and rallying off a double bottom reversal with the August low: the narrative for this lies with the good news for FS on Brexit and the BoE rate decision.

Oil took a dive today down 2.5% and below its 200MA for the first time in a year. This took down the O&G sector along with RDSB reported earning falling short of expectations. Metals were flat on the day apart from Gold up 1.6% to reassert its bullish trend

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