I wish I could write you all a long diatribe about what has gone on in the stock market today, but it would all be a figment of my imagination. It is dead! It has been like pulling teeth all day. Most investors, when considering the roller coaster ride markets have had this year – Chinese growth short-fall, BREXIT, oil prices doubling, gold up about 30% finishing with an increase in US rates and finally the election of a very ‘left field’ President-elect Trump – will close their books off delighted to have reached the 7k threshold.
At 3.07pm the FTSE is up 10 points at 7021. Evraz, Roman Abramovich’s mining operation has dropped 17% today. No idea why? No doubt it will come out in the wash. DRAX is 8.5% better – again apart from more buyers than sellers, I have little to bring to the party. I assume there is a positive note posted today, but no one wants to gossip! Greencore is up 10% and Ashtead is 4.5% easier as UBS posts a ‘SELL’ notice! It has been a typical Yuletide session.
All good wishes for Christmas!