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of FTSE 350 He had the start of the week on Monday, and on Tuesday he faces great uncertainty.
Shares and Sterling
The pound fell to record lows against the US dollar following last Friday’s small budget. Uncertainty over how the new UK government will perform has cast further doubt on the market, with Chancellor Kwasi Kwarteng promising further, unfunded, tax cuts.
of FTSE 100 It fell below 7,000 points again, but recovered to close the day just 2 points lower at 7,021.
The FTSE 350 regained lost ground in the afternoon, but ended 7 points lower at 3,875.
American markets
U.S. stocks had a steady day, but that may not continue on Tuesday, depending on what’s going on in the U.K. and European markets.
of S&P 500 It lost 1% to 3,655 points on Monday. and the Nasdaq It fell 0.6% to end at 10,803 points.
Bank of England
The falling pound has fueled rumors of an emergency Bank of England (BOE) meeting to decide on an immediate interest rate hike. He suggested that the estimate could be as high as 1% to mitigate the collapse in confidence in sterling.
Late Monday, the BoE said there would be no emergency decision. But he said he will do whatever is necessary when the Monetary Policy Committee meets next November.
This left most commentators dissatisfied. So investors can be expected to wait for any new announcements that may come on Tuesday.
Results
We should have a first half result. on top on Tuesday. The soft drinks maker is out of the FTSE 350, but its market capitalization of £557m is higher than its current low.
Revenue is expected to reach approximately £157m. That’s 16% ahead of last year, and 19% on a like-for-like basis.
AG Barr’s share price has fallen a modest 6% over the past 12 months, especially since the summer when inflation really started to bite.
Date of division
Two FTSE 350 companies will pay their interim dividends on Tuesday.
Insurer Intelligent It will pay its first interim dividend of 5.74 US cents per share for the year. Any conversion to sterling will expire before the end of the sentence. Analysts expect a full-year profit margin of around 1.7%.
Investment manager Abrdn Despite the poor performance, it is paying 7.3p per share, unchanged from the first half of last year. An unchanged full-year dividend yields 10.7% at the current share price.