Lots to catch up inside my portfolio having spent the last few months financing home improvements etc.
But, as we get beyond the traditional May milestone "Sell in May da-de dah...etc. etc." and are still mired in the various trade disputes, and Brexit trials and Tory leadership turmoils there are various sectors under watch as they plough recent lulls and lows due to cyclical and uncertainty reasons.
I've developed a constant question when faced with rhetoric and newsflow that some of you might be able to bring to mind, that being "what's in it for them?" and this is generally aimed at reporters, analysts and politicians!
It seems more strongly prevalent than ever, particularly when we look at the House of Commons, the ongoing fight for no. 10 from both outside and within the Conservative party.
Brexit really seems lost amongst personal and party ambitions.
I see various quotes about supporting a second referendum and letting the people decide, and it seems this is being used a shield with a pretence of democracy. Unfortunately, the people had already decided but this historic fact seems lost amidst the personal ambitions of our so called representatives.
Anyway back to the game, retailers, house builders and many other sectors are being hit by uncertainty and with many household names amongst them they are at valuations that might be termed attractive in recent and in some cases historic timeframes.
Both Ted Baker and Associated British Foods are amongst these having been affected by trading conditions and uncertainty, will they or can they bounceback?
Tobacco stocks are also in the midst of perfect global storm of negative newsflow and statistics and there is much uncertainty about what these companies may look like in the future?
The uncertainty around these sectors is also affecting many others in a similar groove, yet overall markets are still holding good levels with the FTSE comfortably above the long held ceiling that was 7000.
It seemed to spend the best part of 20 years trying to break through (beginning in 1999), but has managed to maintain a hold (apart from a blip or two), above that mark since the end of 2016.
Anyway, I'm still managing home improvements but had these trails of thoughts following ABF news today regarding Primark which gave me pause for thought particularly given its global presence in retail now.
Thursday 4 July 2019
Tuesday 14 May 2019
Strained times!
Dow - 25,324.99, - 617.38 (-2.38%)
NASDAQ - 7,647.02, -269.92 (-3.41%)
FTSE (as at 10:03) - 7,211.76, +48.08 (+0.66%)
Well I switched on this morning expecting a bloodbath after hearing that the US markets had fallen following further ratcheting up of tariffs on US and Chinese goods.
Bizarre then to see the FTSE up in positive territory and most of my watchlist green (what remains of it anyway after the Digitallook decimation).
Of course, there was a continuing, and growing impact to Apple which fell a further -$11.46 (-5.81%), to $185.72 as the huge Chinese market is seen as a key frontier to Apple.
After the company's second quarter report seemed to re-assure markets that it had sufficiently stabilised things after the shock of a profit warning in its previous reporting, the share price had staged a recovery back up to around $212.
Growth and profits really cannot continue on an increasing trajectory, without some form of re-calibration.
Strange times indeed, or should that be "strained" given the pressures on global trading relations. In a generation that has seen companies seemingly span the globe making billions, we are now being reminded what the underlying web of tariffs that countries and governments have in place.
On another front is the UK's Brexit debacle and future trading relationship with Europe. I'm not even sure why this is up for debate given the promotion of free trade by the EU.
It complained to the WTO following US tariffs increases on EU imports why then are we even having a debate on its future trading relationship with the UK, as it should remain as open and tariff free as possible given the regularity and frequency (steering clear of the word dependency), that has become standard practice and custom.
The fact that the UK has said "no more" to the need for an increasing sovereign state Bloc control of Europe (in my mind at least), this shouldn't be an obstacle to trade.
Anyway, strange and strained times indeed.
NASDAQ - 7,647.02, -269.92 (-3.41%)
FTSE (as at 10:03) - 7,211.76, +48.08 (+0.66%)
Well I switched on this morning expecting a bloodbath after hearing that the US markets had fallen following further ratcheting up of tariffs on US and Chinese goods.
Bizarre then to see the FTSE up in positive territory and most of my watchlist green (what remains of it anyway after the Digitallook decimation).
Of course, there was a continuing, and growing impact to Apple which fell a further -$11.46 (-5.81%), to $185.72 as the huge Chinese market is seen as a key frontier to Apple.
After the company's second quarter report seemed to re-assure markets that it had sufficiently stabilised things after the shock of a profit warning in its previous reporting, the share price had staged a recovery back up to around $212.
Growth and profits really cannot continue on an increasing trajectory, without some form of re-calibration.
Strange times indeed, or should that be "strained" given the pressures on global trading relations. In a generation that has seen companies seemingly span the globe making billions, we are now being reminded what the underlying web of tariffs that countries and governments have in place.
On another front is the UK's Brexit debacle and future trading relationship with Europe. I'm not even sure why this is up for debate given the promotion of free trade by the EU.
It complained to the WTO following US tariffs increases on EU imports why then are we even having a debate on its future trading relationship with the UK, as it should remain as open and tariff free as possible given the regularity and frequency (steering clear of the word dependency), that has become standard practice and custom.
The fact that the UK has said "no more" to the need for an increasing sovereign state Bloc control of Europe (in my mind at least), this shouldn't be an obstacle to trade.
Anyway, strange and strained times indeed.
Friday 25 January 2019
Apparently: Treasury may rule out online tax that 'could save high street'.
https://uk.webfg.com/news/news-and-announcements--/treasury-rules-out-online-sales-tax-that-would-save-high-street--3708294.html
"as official felt it would have broken European Union rules."
"Mel Stride, financial secretary to the Treasury, wrote to Nicky Morgan, chairwoman of the Treasury select committee to warn her there was a high “risk” that the tax would not be compatible with EU regulations, the Times reported on Friday."
Breaking EU rules? Incompatible with EU regulations?
Is it just me, and am I missing something, or does the Treasury seem certain of our future relationship with the EU?
Perhaps they didn't get the memo?
If they do, perhaps they should share that information with the rest of us, or start working towards a potentially different outcome instead of talking just the present and using language that gives the impression they are doing nothing about Brexit.
No surprise then, that the UK seems so ill prepared and that there is so much talk of a negative fall-out if key Government departments potentially aren't preparing for change and different scenario outcomes.
Would that practice and lack of vision survive within a business? Not for long, or at least the business wouldn't.
"as official felt it would have broken European Union rules."
"Mel Stride, financial secretary to the Treasury, wrote to Nicky Morgan, chairwoman of the Treasury select committee to warn her there was a high “risk” that the tax would not be compatible with EU regulations, the Times reported on Friday."
Breaking EU rules? Incompatible with EU regulations?
Is it just me, and am I missing something, or does the Treasury seem certain of our future relationship with the EU?
Perhaps they didn't get the memo?
If they do, perhaps they should share that information with the rest of us, or start working towards a potentially different outcome instead of talking just the present and using language that gives the impression they are doing nothing about Brexit.
No surprise then, that the UK seems so ill prepared and that there is so much talk of a negative fall-out if key Government departments potentially aren't preparing for change and different scenario outcomes.
Would that practice and lack of vision survive within a business? Not for long, or at least the business wouldn't.
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