9th Jun 2020. 10.04am
UK Sector Snapshot
This morning’s weakness aside, the key sector story during the last week has been the recovery in Banking and Oil & Gas.
Those of you who follow these Sector Snapshot posts will know that both Banking and Oil & Gas have been consistent laggards during the last three months and have failed to participate in the recovery rally, that is until now.
It remains to be seen how sustainable the recovery in both sectors will be, especially given the long-term downtrends of many of the individual stocks, but it is something that we will be paying close attention to.
Metals & Mining remain strong while we have seen some of the hot air come out of the Pharam and Telecoms sectors.
Should the FTSE undergo a sustained bout of selling pressure we will be paying close attention to the Consumer Defensive and Utilities sectors as these may start to show some relative strength again.
This research is prepared for general information only and should not be construed as any form of investment advice.