2nd Jun 2020. 8.50am
UK Sector Snapshot
Metals & Mining have continued to drive higher following better than expected manufacturing data from China.
The other momentum sector right now is Telecoms which have hit new highs this week. However, it is worth noting that at the stock level, the bigger picture technical outlook for many of these stocks remains weak.
Housebuilding & Construction have consolidated last week’s gains while Consumer Defensives continue to look attractive.
Banking and Oil & Gas remain the underperformers and both sectors look tightly coiled so we could see fresh momentum in the coming weeks.
This research is prepared for general information only and should not be construed as any form of investment advice.