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FTSE heads for new 11 month high but Anglo American leads miners lower

Discussion in 'Market News' started by Lily, Jul 20, 2016.

  1. Lily

    Lily Forum Member

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    Better than expected UK jobs data helps support shares as sentiment improves

    Leading shares have headed higher again as global jitters eased, but mining shares were still under pressure.

    The sector continued to subside as commodity prices ease as a consequence of the stronger dollar, the US currency being boosted by a growing expectation that a Federal Reserve rate rise is not off the agenda.

    UK car insurers have been the best performing sub-sector in 2016, re-rating due to defensive characteristics, yield attractions and a rising rate environment. We now expect greater appreciation of the growth opportunity, ultimately driving near term earnings surprises and further multiple expansion. As we have seen at our recent Disruptive Innovation conference, we think that some nimble and innovative insurers can begin to reposition as far more customer-centric product providers.

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