Yellen preview & dissecting UK CPI, Rolls Royce numbers - Panmure Gordon
Panmure Gordon Senior Market Commentator David Buik dissects January’s UK consumer price inflation data, which stood at the highest level since June 2014 (at 1.8%), but narrowly missed the estimate of 1.9%.
Buik also presents his take on Rolls Royce, which posted an expected kitchen sink’ set of numbers. Buik says, in the last 3 years Rolls Royce shares have fallen 42%, but are up 20% in the last year… so the recovery has happened, but the road ahead still looks bumpy.”
The segment concludes with Buik explaining what one may expect from Yellen testimony. The central bank chief faces a challenge of anticipating the fiscal plan from the ever predictable President Trump. Buik warns, “the repatriation money (following tax cuts) could go into the pockets of the shareholders rather than into the pockets of blue collar workers”
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