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.
22/05/2017 – Market view : Bank of Ireland, Kingspan, CRH, One 51, Greencore, Inditex, Euro Stoxx Banking ETF
OPEC meet in Vienna on Thursday with most analysts expecting an extension of the production cutes originally agreed six months ago. We raised our outlook for EURUSD last month to a new range expectation of $1.07 – $1.13 from $1.05 – $1.10 for the remainder of 2017. Several events have driven the currency pair higher including Capital flows into Europe continue due to a strong earnings season and improving underlying economic fundamental. As reported in the media, the Government are likely to offer certain AIB shares, in a secondary market offering or IPO, to potential investors and certain stockbrokers will be appointed as registered intermediaries to the government and Cantor Fitzgerald are hopeful of being appointed.
- Bank of Ireland – New CEO to provide guidance over IT transformation process
- Kingspan – Add on short term weakness
- CRH – Short term volatility present buy-in opportunity
- One51 – Macro Plastics acquisition continues US expansion
- Greencore – H1/17 results preview
- Inditex – Recent weakness presents opportunity