Friday, October 13: Despite the omen of the date, today wasn’t the worst. The pound has been influential in the direction of domestic markets recently and today was no exception. Yesterday the FTSE climbed to record highs as the pound weakened and with the recovery of the currency today, the FTSE had to give back some of these gains. Falling around 0.4% in early trade this afternoon the index managed to pare back losses to close 0.28% lower. It doesn’t sound exciting but relative to this week, today has been primetime action packed Steven Seagal level. Well almost. We even had some decent share specific news today, I know right? GKN helped keep the FTSE from breaching higher ground after shares fell almost 10% after they announced profits would only be marginally ahead on last year due to challenges in their North American aerospace business and mystery external claims totalling £40m, which isn’t at all suspicious. Miners rallied on the day and shares in Rio and Glencore took gold and silver positions on the ‘100. The US has enjoyed a mixed open with banks in the spotlight following Wells Faro’s Q3 update.
We’re going to have to also have a special mention, and plug, to John Dance’s winner at Newmarket; Laurens. Not just John, can’t believe I’m saying this but well done Jess, PJ, the wider team, the Horse, the Horse’s parents and so on. Group 1 winner, Friday the 13th isn’t so bad after all.