Mr Carney Upsets the Markets (Again!)

Mr Carney Upsets the Markets (Again!) By Victor Hill July 15.  St. Swithin's Day. An ancient British folk-tale holds that if it rains today, that will set the weather for another 40 days. As I have argued before, meteorology and economics have much in common. Perhaps economists would be better forecasters if they just ignored the central bankers. Dear old George is gone. (I tried to warn him this might happen.) And he's probably already forgotten by the wonderful Great Unwashed who overwhelmingly voted LEAVE. But Mark still walks tall: frightening pensioners; jousting with parliamentary committees, and talking down the Pound. He carries no scintilla of self-doubt. Never underestimate the extraordinary sense of self-entitlement of a Goldman Sachs alumnus. But Dr (to use his correct title) Mark Carney, Governor of the Bank of England, the UK central bank, recently spooked the markets with an improper use of auto-suggestion (the technique by which advertisers – and others – bury biases in the public psyche.) And not for the first time. During the EU referendum campaign, he was brazenly partisan. That is not necessarily reprehensible, if you believe that he was sincerely defending British interests, as he saw them. However, this conduct by a public servant is constitutionally questionable – as the estimable Jacob Rees-Mogg MP has implied... Click Here To Read The Full Story The Master Investor Market Report The FTSE 100 closed the day at 6,669.24, an increase of 14.77 points. The FTSE 250 fell 60.77 points to finish at 16,727.04. The FTSE All Share climbed 4.44 points to finish at 3,606.72. The FTSE AIM All Share finished at 723.77, down by 0.77 points. FTSE 100 business support services provider DCC (DCC) said that operating profits during the six months ended 30th June were ahead of market expectations as the Energy division benefited from good organic growth as well as last year's acquisitions. The company's earnings in the second half of the year should be higher than in the first. The shares climbed by 20p to 6,690p. Download our July issue today! Click HERE to read. Domestic emergency support firm Homeserve (HSV) reported that trading in the current financial year has been in line with expectations. It added it has signed a new deal  in the UK with a water provider with a quarter of a million customers, and that it continues to develop its pipeline in North America. Activity in Continental Europe is in line with forecasts. The shares dropped 9.50p to 537p. AIM-listed market research agency BrainJuicer (BJU) increased its revenues by 13% during the six months ended 30th June and gross profits were up by 15% as the company benefited from the decline in sterling. Much of the growth was in the company's US, Brazilian and European arms as the UK and China's performances declined slightly. Full results will be published in September. The shares climbed 12p to 380p. Monday's news today British Land (BLND) and Rio Tinto (RIO) will hold their AGMs. Quote of the day "However difficult life may seem, there is always something you can do and succeed at." - Stephen Hawking Latest Stories Chart of the Day: Highland Natural Resources By Zak Mir Highland Natural Resources was one of the better early 2016 calls on a technical basis that I made, with perhaps the lucky part being that the fall from 70p plus was so quick there was no real opportunity to buy at what became the top… Click Here To Read The Full Story Something for the Weekend – Grave New World By Adrian Kempton-Cumber Some years ago I had a Polish friend called Ola who was living here in London. Her English was excellent so, being in cosmopolitan London, she decided to learn Spanish... Click Here To Read The Full Story Small Cap Opportunities in a Post-Brexit World By Richard Gill On an asset class basis, most of the investment media focus post Brexit has been upon the performance of sterling, which as I write is down by 9.4% against the US dollar since referendum day and 7.5% lighter against the euro… Click Here To Read The Full Story Coal To Power Update By John Cornford A fair lot has happened behind the scenes in this still little-known situation where present shares could, in the right circumstances, multi-bag. But the market, if only because such projects are unfamiliar, is still being cautious… Click Here To Read The Full Story Chart of the Day: SuperGroup By Zak Mir As I approach the age of 50, I have to confess that knowing what is trendy and what is not has become an issue. This matter has arisen with retailer SuperGroup, where we can see the price action of the Superdry brand staging a sharp turnaround… Click Here To Read The Full Story Join the movement on social media: Copyright 2016 Master Investor Ltd, All rights reserved. You are receiving this email because you opted in at our website. If a Daily Bulletin is too frequent, why not opt in to our once weekly mailing list for a round up of the week's news straight to your inbox. Once Weekly Round-Up Our mailing address is: Suite 88, 22 Notting Hill Gate, London W11 3JE Master Investor is a trading name of Master Investor Limited. Material contained within Master Investor Magazine and its website is for general information purposes only and is not intended to be relied upon by individual readers in making (or refraining from making) any specific investment decisions. Master Investor Ltd does not accept any liability for any losses suffered by any user as a result of any such decision.

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