Political issues are the focus of today’s headlines.
Theresa May is facing a lot of pressure from her backbenchers and politicians to step down. Although Matt understands their vote of no confidence in Theresa May, this is a critical time for the UK in negotiating the best deal possible from Brexit. The divorce bill currently must be a priority as a lot of figures are being flown around. It is very hard for May, if her party are not even backing her, how is the government and the country meant to?
Matt is concerned that Europe will see this weakness and the UK will suffer. This by Europe trying to get a few more billion into their deal as she is in such a weak decision. This has not been good for the Pound however the FTSE hasn’t even rallied off the back of it.
FTSE one to watch
BAE systems are trading down. This is partly because Ultra Electronics, a smaller company, has come out with a profit warning, down 20%. The CEO is stepping down after 28 years. This is rumoured to be because the UK government are cutting back their defence spending, thus leading other defence stocks to drop. Watch the segment to find out why is bad news for the company, and how it is effecting others defence stocks alike.
AIM one to watch for the day
Fishing Republic. Selling fishing equipment, been on the market since September. Down 40%, cost of expansion is too much – they haven’t dealt with their online presence as well as they could have.
Also discussed in this segment is the
- Pound Outlook, GBP/USD & EUR/USD
- Broker Recommendation – Coca Cola
- Core Number – -0.80%
- Economic Calendar
Watch the full segment to see more of Matt Brown’s thoughts.
You can see more episodes of the Daily Market Show by using this link: http://www.corelondon.tv/c/finance/london-show/