Barnier on UK Banks, Twitter outperforms & US Tax reforms edge closer
Morning Show: Barnier on UK Banks, Twitter outperforms & US Tax reforms edge closer. Matt Brown, Finance Editor at Core Finance speaks to Nick Batsford about the bigger market moving events of the day.
With Michael Barnier stating UK Banks will not have a bespoke deal in a post Brexit environment, is the E.U. trying to hamper the business of the City of London? How will this impact jobs and services in the capital? Twitter outperforms in the US overnight, boosted by a "top pick" recommendation from JP Morgan for 2018 and the roll out of controlling extreme tweets. With the full backing of streamlined US tax reforms from Senators Lee & Collins, the chance of a vote passing through the US houses in the next day or two has risen, if passed, the expectation that Donald Trump will sign off the bill as early as Thursday.
FTSE Stock to watch - London Stock Exchange With an EGM called day to vote on the future of Donald Brydon, with expectations he will remain at the helm following the departure of Xavier Rolet, it is unlikely that TCI head Sir Christopher Hohn will be in attendance.
AIM Stock to watch - Nichols Soft drinks maker updates the market. The Vimto brand owner has seen sales grow but supply chain issues in getting products in Yemen have taking the fizz out of the update.
Broker update AB Foods, owner to Sector perform from Outperform. Moving it's target price of the Primark owner down to 3100p from 3500p
With a light macro diary ahead, the key focus today will be on US tax reforms again. The market expectation of a bill being passed before Christmas.