In a report compiled by accountancy firm BDO they found that mid-sized UK companies – with typical revenues between £10 million and £300 million – created over 100,000 jobs in the capital last year and across the country saw numbers employed rise from 7.1 million to 7.7 million. Managing partner Paul Eagland said: ‘’these high-growth, entrepreneurially-spirited businesses are the lifeblood of our economy. They are often overshadowed by the largest companies and fail to get the same support and attention as small start-ups’’.
Reuters reports that a live televised debate on Spanish TV last night found the leaders of the 4 main political parties tense, argumentative and accusing each other of lying. In a general election that’s seen as the most divisive since the 1970’s return to democracy, Catalonia’s failed bid for independence is seen as the most complex issue. No man emerged as the winner of the debate and the number of undecided voters is extremely high, making the outcome on the 28th April general election too close to call.
DAX 30
Retracing over 61 per cent of the drop since last May with a surprising little hammer against the neckline of the big head and shoulders top.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
FTSE 100
Stochastics flashing a warning in this overbought market.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
S&P 500
Not as overbought as we were the last 2 times we were at current levels.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Westminster’s back from their holiday today and can we put up with their antics for much longer? Cable’s bullish momentum has been erased by triangle consolidation.
SHORT TERM TRADER: Tiny long at 1.3020; stop below 1.2950. Target 1.3300.
POSITION TAKER: Square.
EURO/US DOLLAR
Not even oversold as we’ve flatlined all year.
SHORT TERM TRADER: Long at 1.1245; stop below 1.1170. Target 1.1380.
POSITION TAKER: Long at 1.1225; stop below 1.1170. Target 1.1425.
GOLD
Momentum turned bearish on Friday’s close which was exactly on Fibonacci 38 per cent retracement support. This close was also not quite low enough to complete the head and shoulders top.
SHORT TERM TRADER: Short at 1283; stop above 1290. Next target 1260.
POSITION TAKER: Short at 1292; stop above 1310. Target 1185.
