The FTSE is seesawing with no clear direction at the end of a week that saw the index gain 6.8%, one of the largest weekly gains since mid 2017. The slightly stronger pound played a role, helping domestic facing firms, but the market’s pre-holiday wind down mode was reflected in index’s frequent changes of tack Other European gauges are also higher boosted by a positive close on Wall Street.
NMC Health drops 11%
NMC Health (LON:NMC) is still being buffeted by a damning report from research firm and short seller Muddy Waters which questioned the financing of some of the company’s projects and reported profits and debt. Though the Abu Dhabi-based health care firm published a detailed rebuttal to the report it helped little and shares this morning dropped another 11.5% after the company had already lost almost £2bn of its value this week.
Last Brexit vote of 2020?
In what is likely to be the last Brexit vote of 2020 Parliament is due to vote on Boris Johnson's deal to leave the European Union on Friday, the deal which won preliminary approval from MPs even before the election. The pound is stronger against the dollar and the euro as for the first time since Theresa May came into power the PM’s proposal has an actual chance of being approved given that now Conservatives enjoy a large enough majority to vote it through. If there is a “yeay” later today the deal will be ratified after Christmas.
"Disclaimer: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient.
Any references to historical price movements or levels is informational based on our analysis and we do not represent or warrant that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, the author does not guarantee its accuracy or completeness, nor does the author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions."