On Mondays, we release our Weekly Trader in which we outline key themes driving market sentiment, a review on critical developments within our preferred sectors, equities commentary and market-moving stories to start the week. Our in-house Investment Committee meets on a weekly basis to craft this strategy, aimed at allowing our clients to dynamically position portfolios and to take advantage of market developments.
12/06/2017 – Market view : Heavy tech sell off weighs on market
Last Friday, the US Tech space experience a heavy sell off sparked by comments from Goldman Sachs chief investment officer that the Tech trade has become overcrowded and volatility in the space is too low relatively to cyclical and regulation risks. Theresa May is set to face her Conservative Party today and is likely to face heavy criticism. She is set to meet DUP leader tomorrow to agree to a coalition government. The US Federal Reserve is set to begin its two day monetary policy meeting tomorrow, and the market is 97% priced for a further 25bps rate hike on Wednesday. AIB equity prospectus is set to be announced towards the end of this week which will disclose the pricing range for the stock. Cantor is acting as a participating intermediary for existing and prospective clients looking to gain exposure to the upcoming IPO.
- Conviction List: Update on UK exposed stocks
- Bank of Ireland – Add to positions against key support levels
- Kingspan – Take advantage of share price weakness
- CRH – Strong fundamentals with Trump upside optionality