The U.K. Stockmarket
- The U.K. Stockmarket was slightly higher this week.
- Theresa May survived a “no confidence” vote but her position is weakened with 117 MPs voting against her.
- Following the vote EU leaders turned down her request to renegotiate the Brexit deal forcing her into the position of having to stick with the deal and trying to get it through parliament. A challenge which most seem to agree is beyond her right now.
- Our Breadth Indicator stayed negative this week and our Momentum indicator ticked lower again.
The U.S. Stock market
- The U.S. stockmarket was lower this week.
- Reports that Chinese exports were down set-off fears that global growth may be slowing.
- This seemed to outweigh any optimism of apparent progress in the U.S.-China trade dispute and a weak Friday gave back gains made earlier in the week.
- Our Breadth indicator stayed negative and our Momentum indicator ticked lower again.
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This communication is not intended as a recommendation to invest in any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication. The information provided is for illustrative purposes only, it should not be relied upon as recommendations to buy or sell investments.’