09:00 Banks and Non Life Insurance Sectors Stay Ahead As We Start a New Month- Pharm and Healthcare Lag
New month starts with money into the banking and Non Life Insurance sectors: these charts can be access in the Daily RPG reports under sector momentum: us the Drop Down to select an individual sector and then the drilldown arrow to view all sector shares. The same process can be done end of day in the market Dashboard Sector Momentum over much longer timescales to identify longer term trends in play
Drilling into the banking sector, NatWest and Bank of Georgia continue today with relative outperformance to the sector shown over the past week
Non Life Insurance is more of a mixed bag as Personal Group Holdings stages a recovery while Conduit and Beazley build on positive momentum
UK Weak Finish to a Red Month - Gold Moves North Despite Stronger Dollar: Base Metal Weakness : Oil flat: BTC Holds $61K: EU CPI
FTSE 100 rallied early in the session on Thursday but reversed with month end selling to close below the 50 MA showing continued risk aversion .
the FTSE 250 made a similar move rejecting the 21 EMA but closing +0 .3 percent to the good in a fairly unconvincing way. Meanwhile the AIM small caps pitched lower yet again moving further south from the 200 MA. It did close off the lows which gives some glimmer of hope and tomorrow being the first of March may see some reprieve from the selling. New month new money
We close the month with red candles on the mid and small cap charts : FTSE 100 unch, FTSE250 -2.3%, AIM -2.4%
In terms of internals today saw Identical selling to buying 523 risers to 524 fallers: : Once again a lot of the selling was in the Pharmaceuticals & Biotech , Oil & Gas Travel & Leisure Consumer Services. Banks continued in green while Personal Care Aerospace Insurance Retail and Household Goods found a bid
Following the US inflation data yesterday, gold made a shift out of channel rallying to the 2050 level before pulling back slightly. While the dollar index also looks to be moving north, clearing the $104 level - gold has held above the channel line overnight and may be set to move further north. Brent oil remains around the 82 level and continue sideways. Copper continues sideways and remains below upper channel line resistance, iron ore slips further below 200MA while platinum shows continued weakness
Dollar index clears $104 - Click to expand
Copper remains in channel - Click to expand
