Wednesday, 3rd October: Yesterday Wall Street endured a mixed session but the Dow continued to be undeterred to record highs yet again. Its now the longest winning streak for the index since mid-July, currently up for the fifth straight session, the FTSE hasn’t had a five day win streak since late April. Nevertheless today the FTSE close 0.48% higher managing to end a three day loss streak, with European markets helped after renewed optimism on Italy’s budget issues.
Aston Martin made their stock market debut today, and despite slipping over 4.5% on their first day they are still valued at approximately £4.3bn, which gives them the potential to be the first car manufacturer on the FTSE 100 since Jaguar.
Tesco released their interim results today, which showed strong revenue growth and modest profit growth. They have pledged to hike the dividend but shares were the biggest loser on the day, declining 8.6% on the weak profit growth. Strategic progress nonetheless remains sound.
Theresa May addressed fellow MP’s at the crucial Tory party conference. Despite stating she would be willing to leave without a deal, the pound had a fairly strong reaction and picked up group versus the euro during the day. Perhaps more linked to the ongoing worries surrounding Italy and the relative weakness inherent in sterling at the moment. Oh, and if you have missed it, May danced again. Only this time it was worse, and she has no excuses this time because no children were there to apply any sort of pressure. On that bombshell, we will leave it at that.