“The FTSE 100’s not just had a helping of Ready Brek, it’s also scarfed down a supermarket meal deal and could be heading back for a double fudge brownie,” says Danni Hewson, Head of Financial Analysis at AJ Bell.
“It feels wonderfully right to be crowing about the fact an index that’s still sadly short on tech stocks is finally keeping pace with the home of tech stocks. And whilst the FTSE 100 has a varied roster of companies helping propel the blue-chip index upwards, it is still that magnificent minority doing the heavy lifting over on Wall Street.
“Frasers Group’s investor sweetener in the form of an £80 million share buyback helped lift the retail behemoth up the ranks today, rubbing shoulders with outgoing packaging giant DS Smith and takeover target Anglo American. The surge in interest in companies like Anglo and DS Smith is bittersweet, coming only now both have been spotlighted by avaricious outsiders.
“Can the FTSE 100’s run of form continue? Can the current momentum tempt more companies and more investors to look again at London?
“It seems churlish to speak of the woes the index has struggled with when there’s such optimism in the air, but there’s no better time to fix the roof than when the sun is shining. And as today’s gains haven’t quite had the same momentum enjoyed in recent days it could be we are in for a bout of unpleasant indigestion.”
Tesla
“Elon Musk comes in for a lot of stick but the one thing he does appear to do well is those sensitive hand-shaking moments.
“Tesla’s been fighting down in the sandbox with the rest of the EV kids but what it really wants to do is remain elevated from the fray. Its cutting edge, autonomous tech is likely to be the bit that holds Tesla’s cars above other EVs and allows the US company to charge a premium for its models.
“Getting that tech signed off for Chinese drivers is going to be a crucial part of the company’s next difficult chapter and today Mr Musk has taken some important strides forward in making that happen. But with the issue of data such a controversial and lucrative topic, huge concessions about processing could hinge on whether US China relations thaw or freeze further as ByteDance fights against a TikTok ban.”
Domino's
“Domino’s gave investors a lunchtime treat in the form of an expectation beating earnings update. This is a business that understands its consumer and has delivered targeted promotions that have given inflation weary Americans the green light to indulge in a night in.
“Its growing successful partnership with Uber also takes the hassle out of ordering, something that will make it top of the list for last minute meal planning.
“As costs fall consumers will be watching and judging how businesses pass those savings on. Get the dance wrong and those consumers will choose another partner to tango with.”
These articles are for information purposes only and are not a personal recommendation or advice.
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- Thu, 16/05/2024 - 10:29