Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Friday 8 January 2016
UK equities trade got off to a positive start as alert traders pounced on value buys after yesterday’s sell-off. Miners and financial stocks were the main beneficiaries.
“China has abandoned the use of circuit-breakers so there were no more suspensions of equities trade in China overnight and this seems to have soothed investors to some extent,” said Russ Mould, investment director at AJ Bell.
“There is some encouraging interest in miners after they were sold heavily lower yesterday, but the global crude oil supply glut and on-going tensions in the Middle East are acting as dampers on most oil majors. WTI was at USD33.91/bbl and Brent was as USD34.4/bbl, both having improved from Thursday. Safe-haven gold was easing but still at an impressive USD1100/oz.
“Meantime, REACT (LSE:REAC) enjoyed double-digit gains after securing a 750,000 euros loan facility that it will use for the continuing investment in its portfolio of biomass gasification projects in the UK.
“There were also a good number of trading updates issued today, with the market receiving those from Turbo Power Systems (LSE:TPS), Sopheon (LSE:SPE), Churchill China (LSE:CHH) and Paysafe (LSE:PAYS) particularly well.”
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