28/02/2025 09:49

UK FTSE 100 Index

The UK FTSE rallied to a fresh weekly high overnight, with Rolls-Royce and the London Stock Exchange Group (LSEG) boosting the FTSE 100.

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31/01/2025 09:53

UK FTSE 100 Index

European indices pushed higher overnight, aided by the anticipated 0.25% rate cut by the ECB; due to sluggish economic growth in the region, another three such cuts are expected through 2025.

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27/05/2024 08:49

Equity Indices

The ASX200 was whacked on Thursday and Friday after the Fed Minutes weighed on equities in general, but especially the miners, as gold and copper surrendered some of their recent gains - Copper fell 8%, and gold fell almost 5% into the weekend. However, we believe this is a pullback in both commodities and related stocks to buy, which should eventually help the local market's performance compared to its global peers.

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13/05/2024 09:15

First Up

April witnessed a bearish move by bonds and equities, driven by escalating interest rate fears as “sticky inflation” became a regularly used catchphrase across financial markets.  Conversely, so far in May, we’ve witnessed a complete reversion in the market's thinking/pricing for the future path of interest rates after both the Fed and RBA left rates on hold and delivered less hawkish rhetoric than many feared. Also, for good measure, markets embraced the recent “goldilocks” US employment data, which was a miss on job creation, while monthly wage growth slipped 0.2% from March; the latter was the number that caught most people's attention.

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08/05/2024 09:37

Global Markets

US indices experienced a quiet session overnight due to a dearth of news compared to the last few weeks, but the bullish takeout is that the broad-based S&P500 still closed higher. Quarterly reporting threw up some mixed results, with UBS Group (UBS US) up over 7% on very strong earnings while Ferrari (RACE US) slid 6% on an earnings miss.

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06/05/2024 09:19

Equity Indices

The ASX200 rallied +0.7% higher last week as easing bond concerns saw the rate-sensitive stocks/sectors recover strongly, e.g. The Real Estate +3.2%, Tech +2.3%, and Consumer Discretionary +2.1% sectors advanced strongly. After Fridays market friendly employment data, we expect more of the same at the start of the second week of May, aided by a more than 3% surge by US Tech following Apple’s(AAPL US) earnings beat – the US2.8 trillion dollar stock surged almost 6%.

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29/04/2024 08:56

Equity Indices

The ASX200 closed higher last week, although it didn't feel like it after Friday's 1.4% unwind, which saw over 80% of the main board close in the red - BHP accounted for around 30% of the index's loss. At this stage, we are 50-50 as to the market's next 150 points, which is not a common stance for MM; we are usually far more committed! We are still in “Buy Mode”, carrying reasonable cash levels, looking for optimum entry points, ideally a little lower for stocks we’ve been flagging in recent reports.

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26/04/2024 09:19

Global Markets

US stocks recovered strongly from their initial aggressive sell-off following the META result and, significantly, average guidance. If we exclude last night's tough tech session, it was a balanced session for US stocks, with 5 of the main 11 sectors closing higher, led by the resources, which should bode well for the likely names ex-BHP. Reporting season is delivering its usual volatility under the hood, but we don’t see any major concerns at the index level.

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24/04/2024 09:27

Global Markets

US indices extended their recovery overnight with all of the influential FANG stocks in the winner's enclosure led by Netflix (NFLX US) +4.2% and Nvidia (NVDA US) +3.7%. Telsa (TSLA US) reported well after-market beating expectations, sending the stock up over 5% in late trading which should add to support for US Futures today. Under the hood, General Motors (GM US) raised its profit outlook after strong first-quarter numbers, the stock closed up 4.3%, while PepsiCo (PEP US) earnings missed analyst expectations, resulting in a  3% dip by the stock.

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25/03/2024 08:43

Chart of the Week

The FTSE rallied strongly last week, ending up +2.6%, well ahead of most of its peers after tracking sideways over the last year. The chart below illustrates the strong correlation between the FTSE and ASX due to their similar composition. We believe both can enjoy a relatively strong few months as investors strive to find some semblance of reasonable relative value across markets that are on the “rich” side.

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