Regency View:

UK Sector Snapshot

Normal service has resumed this week with the predominant sector themes of the year re-emerging…

Strength in Metals & Mining has coincided with weakness in Banking and Oil & Gas. These are well established themes with stocks that have well established trends. We’re currently long Antofagasta, having taken profits on our Fresnillo position last week. We don’t have any Banking or Oil & Gas exposure, but we do have a price alerts on HSBC at 314p and BP at 253p.

Consumer Defensives have continued to show strength and we added Reckitt Benkiser to our trading portfolio yesterday.

Overall, these themes are relatively clean with plenty of momentum, so if the FTSE continues to climb back towards the top of the summer range we would expect the themes to remain in play.

FTSE 100 Key Sector Snapshot