We’re up 2% today as the positive news just keeps on coming. Intel with better figures, kicked things off. Followed by the old Chinese headfake, prep the market for a poor number and then come out and beat it (bank lending in this case). Rumours abound too now about China GDP coming in ahead and JPM figs too.
Everything is blue today, well almost, utils and bevs are small down, a mix of disdain for defensives and the poor figures from DGE. Exane downgraded pernod to boot. Btw, how much did Nomura have to pay CNBC to air their day long ad?
Good figs from Posco last night, RIOs nos were better too, as were ASML. Punch taverns disappoint and cut the divi though.
$ continues to fall with DXY at 75.50, almost the same level as oil! OPEC raises Global demand forecasts by 700k brls per day. GBP has found some long lost friends today as jobs numbers come in better and is making its way back to 1.60. If sustained next resistance is 1.6040 and 1.6100...however hearing of interest to buy dips in eurgbp 0.9290 area which may temper further cable enthusiasm. Another day, another new high for gold, plus ca change.
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