Connor Campbell, Financial Analyst at Spreadex details the macro outlook for markets – FTSE100, Cable, Saga (LON:SAGAG), Mitchells & Butlers (LON:MAB) and Kier Group (LON:KIE) - in which clients are positioned. He is joined by Tip TV’s Zak Mir.
Key points:
FTSE100 – pre Fed and BOJ lull. Clients aren’t comfortable to predict a breakout ahead of CB rate decisions.
Cable – Clients are buying around 1.30 levels in anticipation of Fed not doing anything on Wednesday. Upside could be capped around 1.31 in case Fed throws a hawkish surprise at the markets.
Saga – Travel sector is volatile. Clients are selling around 220 levels. Looking for a short-term drop.
Kier Group – Signed 5 billion pounds worth of deals since Brexit. Clients buying around 260-270 mark.