© AFP/File / by Jean-Baptiste OUBRIER | British multinationals have delivered upbeat earnings as Brexit looms
Banks and energy groups in particular enjoyed a strong earnings season, mirroring the situation in the US, even though it was more a result of cost-cutting and favourable currency movements than underlying strength of individual companies.
“If you look at the big guys they’re doing pretty well,” ETX Capital analyst Neil Wilson told AFP.
“Banks HSBC and Standard Chartered did well, oil majors are turning profits again and miners are enjoying strong recoveries.”
Wilson added: “These are all exposed to international markets heavily so insulated from Brexit pretty much entirely. I think it’s worth noting the international nature of the FTSE 100 and bulk…
View original post 447 more words