Market update

I would dearly have loved to approach today’s equity market activity with drive, zest and verve! I just cannot do it. Market protagonists think Corbyn is toast, but won’t back their judgement.  The market is telling me that the Liberal left are huffing and puffing in twitter with great and acrid success.  They will put up a good showing with their vitriol but their enthusiasm to boot Mrs May into the long grass may not be endorsed by sufficient votes from the young, disenchanted and lazy. Also Corbyn is not as popular outside intellectual London. A tory majority of 60 is expected by many. The FTSE 100 has bobbed around in a very narrow range from -20 points to minus 4 points where it is as I speak at 3.21pm.- 7521.

 

Oil stocks looked weak as did miners, but as the day has progressed oil stocks are up 0.25% and miners are up 1% with Glencore down 1.9% at one time, now in positive territory. AO World was the stand-out loser -6%. IAG is surprisingly unchanged and BP marsh & Partners another company posting numbers today is unchanged. Election nerves saw the FTSE 250 is easier by 1% and the Street of Dreams has not even selected first gear is down 10 points. Conditions may remain somnolent for few more days.

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