FTSE not getting off Trump’s Wild Ride

The FTSE has made a strong start for the week, with bullishness back in vogue in spite of a geopolitical dust-up at the weekend's G7 Summit in Canada. Investors appear to be writing off President Trump's bickering with his colleagues as same old, same old (start in attack dog mode, dial back rhetoric later), perhaps more interested in the Singapore summit with North Korean leader Kim Jong Un.

FTSE not getting off Trump’s Wild Ride

The FTSE has made a strong start for the week, with bullishness back in vogue in spite of a geopolitical dust-up at the weekend’s G7 Summit in Canada. Investors appear to be writing off President Trump’s bickering with his colleagues as same old, same old (start in attack dog mode, dial back rhetoric later), perhaps more interested in the Singapore summit with North Korean leader Kim Jong Un. This ahead of twin monetary policy updates from the ECB and Fed, and a key Brexit Bill vote. Nonetheless, defensive stocks are dominating the FTSE leaders, suggesting a still cautious investor attitude, rather than the genuine risk-on start to the week.

Contributors: FTSE100 +55pts, boosted higher by contributions from the usual suspects BATS/DGE/ULVR/IMB (defensives, weak GBP), Miners/Energy (weak GBP), PRU/GSK (rebound), VOD (M&A), EVR (ex-div recovery, Fitch upgrade) and STAN (expansion to virtual banking, Asia exposure). Resisting the uptrend are HSBA (heavyweight), OML (downtrend, IPOing wealth management division) and RR (more engine problems).

Technicals: The FTSE100 is off Friday lows, but still trading in a sideways range

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