“A decent showing on Wall Street last night has not extended to Europe or Asia on Tuesday, with the FTSE 100, Dax, CAC 40, Nikkei 225 and Hang Seng only showing minimal change on the day. Investors are likely to be taking stock of events and thinking about where markets might go next year,” says Russ Mould, Investment Director at AJ Bell.
“The narrative has shifted from how fast interest rates could go up to now focusing on when rates might start to go down. Smaller companies have perked up on the market in recent weeks, alongside long duration investments such as infrastructure and property funds, which implies a slight shift in investor thinking. However, these are bouncing off a low base and it is too early to proclaim any definitive market rotation.
“Among UK stocks issuing updates, shares in outsourcing group Capita jumped 9% after the company said it would accelerate the delivery of efficiency savings. Good news for shareholders as it should benefit the company’s profit margins but bad news for 900 employees of Capita who face potential redundancy.”
CRH
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