|Day's range||7,228.19 - 7,299.19|
|52-week range||6,536.50 - 7,903.50|
Phoenix Group consolidates pension funds and life insurance policies as they wind down. The big dividend is backed by a resilient balance sheet.
Deutsche Lufthansa AG bucked the trend, dropping 5 percent after cutting its growth plans. The FTSE 100 was up 0.4 percent after Britain’s Parliament rejected leaving the European Union without an agreement in place to keep trade flowing, putting the country on course to delay Brexit. “The latest equities sessions have been a little bit tedious, with markets going from less to more in the session and we can keep seeing that trend for some more days,” said David Navarro, equities fund manager at Andbank Wealth Management in Madrid.
U.S. stocks rose as a gauge of demand for certain capital goods suggested that business investment remains strong. Shares of Boeing fluctuated after President Donald Trump said he was issuing an executive order grounding all Boeing 737 Max jets in the wake of Sunday’s deadly crash.
May’s Brexit deal gets voted down again, now lawmakers must decide what to do next and that decision will move the market.
With the market awaiting the latest Brexit vote in a series tonight -- this one on whether to take the no-deal vote off the table -- the pound advanced 0.4 percent, leaving the FTSE 100 flat. Aberdeen Standard Investments, Stephanie Kelly“Sterling is likely to be volatile in the coming days as investors learn whether parliament will vote down no deal and whether Article 50 will be extended”“I would strongly expect that parliament rejects no deal by a large majority”Approval of an extension of Article 50 by the end of the week would mean the technical risk of no deal subsides, sterling should perform well in this scenario“The interesting question is how long the extension is and what, if any, conditionality the EU attaches since it requires unanimous approval in Brussels. UBS, Jon Gordon“This supports our view that investors should remain cautious, and avoid chasing short-term rallies in sterling or increasing exposure to U.K. equities”“Investors with exposure to U.K. assets should consider hedging sterling over three to six months.
The day of reckoning finally arrives for the Pound. Theresa May has managed to garner more concessions but will it be enough for Parliament?
Sterling rebounded sharply on Monday afternoon with traders watching every twist and turn of the Brexit process as the UK divorce from the EU looms just weeks away. The pound rebounded from a three-week low to rise about 0.5 per cent in midday London trading, pushing up to $1.3079. The currency has veered from a closing low for the year of $1.2607 on January 2 to a high of $1.3308 on February 27.
Anger over executive pay grabs headlines but climate-related voting and the push for board diversity will also be important to investors when the 2019 season of annual meetings begins in the next few weeks. In the UK, the new corporate governance code will put some executives’ length of service and pension arrangements under even stronger scrutiny — and fund managers are ready to flex their muscles. “Even in cases where you don’t win, [a protest vote] can still be an interesting temperature gauge,” says George Dallas, policy director at the International Corporate Governance Network.
It’s another big week ahead. More data out of China could rile the markets, with Brexit, the BoJ and a busy economic calendar to keep things interesting…
Major Chinese stocks saw out the week with their biggest one-day fall since October, after a policy pivot from the European Central Bank set off concerns about global growth while China itself reported some muted trade numbers. almost 21 per cent in February compared with a year ago. Adding to investor nerves: a maximum fall of 10 per cent for People’s Insurance Company Group after analysts at brokerage Citic Securities issued a rare “sell” rating on the company.
It shows the impact of interest rates on the returns from cash savings compared with UK equities over the past 20 years, according to analysis from wealth manager Brewin Dolphin. If £100 had been invested in the FTSE 250 in 1999, it would have grown to £380 in real terms over 20 years. If £100 in cash had been held in an interest-bearing savings account over the same period it would have grown to £114.
Officially, the “inheritance tax Isa” is not considered to be a member of the growing Isa family. The Aim-focused version of the stocks and shares Isa has proved hugely popular with investors in recent years, but there are worries that it could emerge as the Isa family’s equivalent of a black sheep. at Aim-listed Patisserie Valerie left a bad taste in the mouths of thousands of Isa investors, who were exposed to the stock via specialist IHT Isa funds.
Melrose Industries hailed the impact of last year’s “terrific” acquisition of GKN, even as it reported widening losses as a result of charges and costs chiefly associated with the £8bn hostile takeover. Shares in the company were up 3.5 per cent in early London trading to 186.4p, as investors took cheer from the company’s confident outlook on the turnround prospects at GKN. The purchase of GKN, an engineering group that supplies aircraft and car components, ended one of the most acrimonious takeover battles in the City of London for a decade.
In the year to December 31, Paddy Power’s sales rose 9 per cent to £1.9bn, while pre-tax profit declined 11 per cent to £219m because of the impact of investing in the US. The new name comes from a dotcom business bought by Betfair in 2001 before it later merged with Paddy Power. According to chief executive Peter Jackson, it is to recognise the increased number of brands in the company as “it’s confusing enough when Paddy Power and Betfair compete”.
William O'Neil & Co. chief investment strategist Randy Watts also says in an interview with Reuters' Fred Katayama U.S. investors should avoid British stocks since the Brexit vote outcome could rock the pound.