1st Sep 2020. 10.33am
UK Sector Snapshot
Three big sector themes have re-emerged during the last three sessions, these are:
1. Strength in Metals & Mining –fuelled by a weak US dollar
2. Weakness in Banking – driven by low interest rates and a sharp increase in bad debt
3. Weakness in Oil & Gas – whilst crude prices have been relatively stable during the summer, prices are still 34% below their Jan highs due to a sharp contraction in global economic growth and the inability of OPEC to restrict supply.
Whilst we are already long Fresnillo, we will more than likely look to add to these sector themes in the UK market should the correct technical setups present themselves.
This research is prepared for general information only and should not be construed as any form of investment advice.