Daily Snapshot

A tumultuous few days in both the markets and the Morrison household as train and tube strikes caused significant Childcare disruption. So safe to say I was very pleased with a few of the snippets in the UK Budget, especially the 30 hours Childcare support a week for 1 and 2 year olds and also hopes that more strikes may be avoided with potential pay deals on the horizon. The moves have been substantial and swift this week and at times it’s hard to catch your breath though I would say there is…

Well I think we were due a day of relative calm having had 3 of the livelier sessions of recent memory and though there were certainly early wobbles we managed to see those off and rally into the afternoon. The Stoxx 600 closed up +1.5%, reversing some of the losses from the past two days but the move certainly looked more like a rebound than anything with serious conviction. I’m not sure the market is any closer to working out whether the fallout from the SVB saga could spread to other parts,…

No way of getting away from it there is a lot going on right now isn’t there? It would be a lie to say we’re on top of it all, we try of course, but there are new angles, stories and moves popping up everywhere and things are moving at such an aggressive pace I have no doubt the Snapshot will be out of date by the time it is read/deleted. Cracks in system have been appearing and growing over the past 3 days and it felt like today was a day when risk managers, unaware of where this could lead, a…

I can’t remember exactly what I was doing on January 18th but I think it was something quite boring with it being in the middle of dry January. The Stoxx 600 had raced away to an 8% rise on the year, the mood was bullish and we were well ahead of other indices around the world. Fast forward 7 weeks, 36 trading sessions and you get to today and we are trading at virtually the same level. In that time we’ve had earnings season come and go, central banks raise rates and chime in wherever possible,…

Today sees the world celebrate International Women’s Day, and whilst we should be embracing all walks of life daily, it is a great moment to remind ourselves that there is always more that can be done to promote gender equality. We were particularly pleased that Redburn’s very own Kathryn Stonebank was interviewed as part of the ‘In conversation with…’ series with The TRADE discussing her journey to the execution desk. IWD’s theme for 2023 is #EmbraceEquity to promote true inclusion, understand…

Greggs results today and a new tradition of mandatory Greggs’ breakfast Bacon Rolls/Sausage Rolls/Vegan Sausage rolls every quarter just to get a real ‘I-know-what-this-company-is-all-about’ feel for the shares ahead of them opening. The desks reaction to their food a lot better than the -2% share price move today as cost pressures were blamed for the weakness but the good news for all is an additional 150 still in the plans to open! Slightly different format to today’s Snapshot as there was on…

Sat between an Arsenal fan and a Man United fan made for quite an interesting morning. One’s aspirations for a Premier League title saved by a 7th minute added time winner, the other’s recent ascent firmly halted in quite embarrassing style and the side arguably saved by the final whistle. Not a huge amount to shout about today and there was a sense, with the upcoming highlights on the macro calendar, that today’s session was somewhat saved by the final whistle, not wanting to move a great deal…

“Will there be any companies left in the UK at this rate?” I asked my UK sales specialist. Plenty of M&A in the post-Brexit aftermath at lowly levels followed by a rush to be listed in the U.S. has left a somewhat depleted look. CRH the latest to call time on it’s primary London listing and shift to New York, following Fergusson last year with ARM choosing to avoid the City of London all together will come as a major blow. Its been reported that dealmakers are inundated with incoming from clien…

Sorry for the delayed Snapshot today but I’m catching up with all that’s been going on having been in to see a client about our Scaling Auction Algo. Amazing amount of work gone into it, though if you ask Phil Risley to explain the mechanics around it, you might have to push back your next meeting (or two)! As always happy to run anyone through the mechanics (as I know them) but if you want the nitty gritty then happy to set that up with the team too! The Stoxx 600 closed down 75bps on okay vol…

I for one am very happy February lasts just 28 days this year. Not wanting to wish away time (especially as I get older) but it really has been a tricky month for everyone involved with markets. A mixture of very little clarity, a lack of direction and an absence of conviction all making it extremely difficult to see the wood from the trees on a daily basis. The pattern was similar today with lots of moving parts but with risers and fallers largely offsetting, the Stoxx 600 ended the day broadl…