9th Sep 2020. 9.41am
UK Sector Snapshot
The recent market weakness has seen the Consumer Defensive sector come to the fore. The likes of Unilever (ULVR), Reckitt Benkiser (RB.) and Diageo (DGE) have all put in bullish reversals during the last three sessions. This is a theme that we will look to play should the right setup present itself.
The Pharma sector has also started to show strength again, but this has been dominated by Hikma (HIK) whose share price looks in far better technical shape than Astra (AZN) or Glaxo (GSK).
Perhaps more significant than any sector theme is the shift that we’ve seen during the last four sessions, away from US equities and into European and UK stocks. This has been much needed on both sides of the pond as the US market had become ludicrously overbought. We’ll be watching closely to see when the US retracement phase comes to an end.
This research is prepared for general information only and should not be construed as any form of investment advice.