Good morning!
The RNS feed today is uninspiring, frankly.
To add to the gloom, the market is awash with red ink and is down by 1.3% as I write this.
In particular, I have a holding in British American Tobacco (LON:BATS), which is lower on news that cigarette consumption is reducing at a faster-than-expected rate, mostly because people are switching to alternatives more quickly than anticipated.
But the tobacco sector doesn’t explain why the market as a whole is weaker. Mainstream media tries to help us understand the wider malaise:
The blue-chip index took a tumble after the opening bell on Wednesday, falling 0.7 per cent as traders struggled to find anything other than the US-China trade war to focus on.
That doesn’t help us much, I’m afraid. Oftentimes, it’s not clear why the market is doing what it is doing – the only ones who know are the ones doing the big buying and selling on that day.
Whatever the reason, I’ve taken advantage of the improved pricing this morning to increase my FTSE exposure, via put options. I haven’t got my buying boots on properly yet but I would if we saw the index back around…
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