EEA's David Urch explains why this year will be a tough one for UK equities - and why he is shorting Ladbrokes and Smiths Group.
Profit warnings There has been a mixed set of results from corporate UK during the first quarter of 2014. We have seen a number of profit warnings and related share price falls in Rolls Royce, Royal Bank of Scotland, Tate and Lyle, Rexam, BAE, Smiths Group and WM Morrison among others. Insurers, meanwhile, saw their share prices weaken in the wake of George Osborne’s surprise announcement on pension reforms in the budget. Gambling firms similarly suffered on news they will face fresh taxes. Ladbrokes and Smiths Group The profit warnings and related share price performance ...
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