Mid and Small caps had a day in the sun today as the UK focused FTSE 250 and AIM All-Share broke out after a few weeks of sideways consolidation, with the MCIX up 1.2% and AIM All-Share up 0.8%. In AIM the outperforming sectors included Gen Retail, Equity Investments Personal Goods. In the FTSE 350, Spirent moved ahead almost 8% while Gen Retail, Construction, Tobacco and FS rallied 2-3% resulting in the NMX gaining 0.6% on the day.
Brent crude sold-off almost 2% but remains above its 21EMA with the intermediate uptrend still intact for now despite recent weakness. Gold and silver sold off as did copper while iron ore pared back some recent losses gaining 1.5%
GBP softened slightly against USD but remains at $1.32. Market sentiment still shows market across the UK, EU and US as sanguine with a risk-on emphasis and VIX scores in the 12-14 regions while the Fear index is above 70 (Greed) and the AAII weekly survey showing almost 42% of US investors as bullish above the historical 28.5%.
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