Market News & Analysis
FTSE makes small moves as festive mood takes over
Fiona Cincotta December 24, 2019 10:42 PM
BT shares are on course to end the year down almost 20% despite the company fighting tooth and nail to convince investors that it is capable of modernising amid recent plans to cut over £1 billion in costs. Having been one of the prime nationalisation targets on Labour’s agenda, the company rallied during the election period as it became clear that Labour was unlikely to win. For the moment, BT’s main appeal remains the 6% forecast dividend yield which is likely to slow down any further decline.
The beleaguered NMC Health has also slipped this morning but the move was fairly modest compared with the rollercoaster share moves over the course of last ten days. The company’s plan to bring in an independent agency to analyse the allegations made by short-selling specialist Muddy Waters is helping to stem any further selloff.
Gold rallies led by Asian trading
Gold rallied 0.4% in light of pre-year end book squaring. Prices for the precious metal have risen over 13% this month boosted by the uncertainty in the first half of December caused by unresolved US-China trade issues and the UK election. Though prices briefly dipped once the US and China agreed on the first phase of the deal, investors still feel that there are too many risk factors remaining in the global economy, not least the strength of the US stock market, which is constantly being questioned and keeps gold’s safe haven appeal still valid.
From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.