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Should you buy UK stocks now that FTSE 100 trades at a new all-time high?

Most of the attention in the past few months has been on the Federal Reserve’s potential pivot and what it might mean for equities and the US dollar….



Most of the attention in the past few months has been on the Federal Reserve’s potential pivot and what it might mean for equities and the US dollar. Sure enough, the Fed is the leading central bank in the world.

But investors in other parts of the world also look at the Fed. Also, they look at other markets with potential.

One is continental Europe. Stocks there are on a tear higher, fueled by lower interest rates than in the US.

Another is the United Kingdom. Since Brexit, investors have been reluctant to invest in the UK, but things have changed. That is especially true if one looks at the FTSE 100 index, which tracks the largest 100 companies in the UK by market capitalization.

Before looking at the technical picture for the FTSE 100 index, it is worth mentioning that the UK is as attractive as the US when it comes to stocks that might rally over 30x. Also called 30 baggers, these are stocks that appreciated in value 30x or more in the last 30 years and have a minimum market capitalization of GBP150 million.

Therefore, opportunities exist. So, is it time to buy UK stocks now that the FTSE 100 index trades at a new all-time high?

FTSE 100 trades at a new all-time high as the bullish momentum continues 

2023 has started on a positive note for investors in the UK stock market. FTSE 100 broke above the previous high and now trades at historical levels.

The rally from the COVID-19 lows is nothing short of impressive. However, if one thinks that the US stocks have made multiple all-time highs following the pandemic, then it appears that the FTSE 100 index is lagging.

However, the index consolidated in a bullish pattern in 2022, one that broke higher recently. Given its nature, it suggests further upside, especially since the index broke above the previous all-time high.

All in all, the sentiment and momentum remain positive for UK stocks. While above 7,500, the market should still rally. On the flip side, a daily or weekly close below 7,500 would invalidate the bullish scenario.

The post Should you buy UK stocks now that FTSE 100 trades at a new all-time high? appeared first on Invezz.

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US Taps 2,000 Troops for Potential Deployment To Support Israel

US Taps 2,000 Troops for Potential Deployment To Support Israel

The Pentagon says it has selected 2,000 troops it is readying for potential…



US Taps 2,000 Troops for Potential Deployment To Support Israel

The Pentagon says it has selected 2,000 troops it is readying for potential deployment in support of Israel as it battles Hamas in Gaza and potentially Hezbollah across its northern border.

Based on US officials speaking to The Wall Street Journal, American troops are not expected to serve in any combat roles, but only in advisory capacities or missions like medical support. 

File image, US Army

"The troops are currently stationed both inside the Middle East and outside, including Europe, the officials said," WSJ writes. "It isn't clear under what circumstances the U.S. could deploy the troops or to where, but the Pentagon decision signaled it is preparing to support Israeli troops should Israel launch a ground incursion into Gaza."

Already US Marines have been moved from Kuwait in preparation for potential greater support roles related to Israel. The Biden administration has dispatched two carrier strike groups to the general region, likely expected to enter the eastern Mediterranean at some point soon.

Separately, a defense official told the AP that the troops would "not be sent to Israel but could be sent to countries in the region."

The situation remains highly fluid and unpredictable, as there have been reports that Israel's ground invasion is "imminent" for the past three days. There are signs Israeli leaders could be delaying not only out of concern for the some 200 hostages Hamas has, but due to the threat of Hezbollah opening all-out war in the north. Iran's threats have also been increasing. 

The US is also assisting Israel with intelligence, particularly related to the captives, among them Americans. However, so far the Pentagon has ruled out the idea of sending US commandos as part of rescue efforts. 

Of course, given the population density of Gaza, and given the difficult urban warfare environment, any military rescue mission might be a 'mission impossible' kind of scenario - even if intelligence could pinpoint their exact locations, which is unlikely.

If Israel does go into the strip with full force, but without knowing the exact locations of the hostages, it could be highly dangerous for the captives.

Tyler Durden Mon, 10/16/2023 - 18:55

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Israel Rejects Zelensky’s Request To Visit: “Now Is Not The Time”

Israel Rejects Zelensky’s Request To Visit: "Now Is Not The Time"

Ukraine’s President Zelensky has been refused his own request to visit Israel…



Israel Rejects Zelensky's Request To Visit: "Now Is Not The Time"

Ukraine's President Zelensky has been refused his own request to visit Israel out of "solidarity" after the Oct. 7 deadly attacks by Hamas, in yet another awkward moment for Kiev.

He was reportedly told by the Netanyahu government that "now is not the time" for such a state visit, according to Hebrew-language media. However, his office was told that there might be a later date for such a visit.

File image, Flash90

Israel's i24News wrote that "The yet unexplained denial of Zelensky’s solidarity visit comes as the U.S. President Joe Biden is reportedly expected to visit Israel as soon as Wednesday."

Zelensky had since the start of the new Gaza war issued series of strong statement in support of Israel. "The world must stand united… so that terror does not attempt to take or destroy life anywhere and at any moment," he had said.

He has also claimed that Russia is stoking conflict in the Middle East, also as a way to distract from its operations in Ukraine, but without offering any evidence.

Last Wednesday, Axios reported that "Zelensky's office sent an official request to the Israeli Prime Minister's office asking to coordinate a visit, the Ukrainian and Israeli officials said." 

It seems the pro-Ukraine cause in general, including efforts in Congress and by the Biden administration to keep the billions in aid flowing, has been sapped of its prior enthusiasm and momentum. 

And it's perhaps also the case that Israel perceived that Zelensky is trying to link Ukraine's cause with Israel's as a matter of PR. 

At this moment, a major Israeli full offensive by air and ground appears imminent, though it's been delayed after there was an expectation that it would start this weekend. Some reports have said that bad weather is a factor.

But the Jerusalem Post has offered a different perspective, writing Monday, "Yet, now we have arrived at late Monday, and if anything, the signs (which could also be psychological warfare) are that the invasion is further away, and not yet imminent."

Tyler Durden Mon, 10/16/2023 - 17:35

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Europe “Shaken” By “Islamist Terrorist Attack” In Brussels; Shooter Still At Large

Europe "Shaken" By "Islamist Terrorist Attack" In Brussels; Shooter Still At Large

Update (1730ET): French President Emmanuel Macron said…



Europe "Shaken" By "Islamist Terrorist Attack" In Brussels; Shooter Still At Large

Update (1730ET): French President Emmanuel Macron said on Monday that Europe had been "shaken" by a "terrorist attack" in Brussels, after two Swedes were killed in a shooting.

"A few minutes ago, Brussels was hit again by an Islamist terrorist attack which apparently, as I speak to you, took the lives of at least two other Europeans, two Swedes," Macron said during a visit to Tirana, according to AFP.

Perhaps most ironically, given the comments from various world l;aders about this "terrorist" attack by a muslim man, who recorded a video of himself explaining this was to "avenge the Muslims that have died for their religion", the Belgian prosecuor has issues a statement that there is 'no immediate link to Israel-Hamas'.

“So there has been a claim via social media where someone says he is the perpetrator, that he has sympathies for IS, and what is also important, he mentions the Swedish nationality of those victims,” Eric Van Der Sypt, a spokesman for the federal prosecutor’s office, told the Belgian broadcaster VTM.

“For now, at the current stage of the investigation, there would be no relationship to the conflict in Gaza,” he added.


Belgium’s government crisis center confirmed reports of the killings and asked the public not to share images or videos that might be related to the incident.

As a reminder, Brussels was hit by major Islamic State terrorist attacks in 2016, which left more than 30 people dead and hundreds injured.

*  *  *

Update (1630): Belgium's crisis center has raised Brussels' terror alert status to its highest level, and France was tightening controls at its border with Belgium, France’s interior minister, Gérald Darmanin, said.

“Horrified by the terrorist attack which left two victims in the heart of Brussels,” Belgian Foreign Minister Hadja Lahbib said in a post on the X social media network.

“All necessary means must be mobilized to combat radicalism.”

“We are monitoring the situation and ask the people of Brussels to be vigilant,” Belgian Prime Minister Alexander De Croo said in a post on X, but appeared to confirm the link to terrorism:

"I have just offered my sincere condolences to the Swedish prime minister following tonight's harrowing attack on Swedish citizens in Brussels.

"Our thoughts are with the families and friends who lost their loved ones. As close partners, the fight against terrorism is a joint one."

Additionally, the Euro 2024 soccer qualifier between Belgium and Sweden (taking place in Belgium's national stadium in Brussels) has been abandoned at half-time after the attack, with fans locked in the stadium.

No suspect has yet been arrested.

*  *  *

As Remix News' Thomas Brooke reported, two people have been shot dead and others injured in central Brussels on Monday evening and the perpetrator remains at large, Belgian police have said.

Authorities have confirmed a shooting took place in Ieperlaan at around 7:15 p.m. local time and two people of Swedish nationality were killed.

The victims are understood to have been supporters of the Swedish national football team and were visiting the Belgian capital to attend the European Championship qualifying fixture between the two nations at the Heysel Stadium on Monday evening.

Amateur footage circulating outline showed the perpetrator, dressed in a fluorescent orange jacket and wearing a white helmet, equipped with an assault rifle on the rampage in the city. The suspect arrived at the scene on a scooter before opening fire in the street causing pedestrians to flee into a nearby apartment building.

The man followed those fleeing the scene into the lobby of the residential building before firing several more shots, before returning to his scooter and taking off at speed.

Belgian media reported eyewitness testimony which stated the shooter shouted “Allahu Akbar” before opening fire.

Additional footage circulating online purports to be a video message recorded in Arabic by the shooter who is wearing the same identifiable clothing following the attack. According to the Sudinfo news outlet, the attacker said his motivation for the mass shooting was to avenge the deaths of Muslims around the world and boasted about killing “infidels.”

“In his very violent speech, he said he had shot two people to ‘avenge the Muslims and that we live and die for our religion,'” the news site stated.

The tweet is viewable here but not embeddable...

Crisis meetings have taken place between the Belgian federal police, the Brussels local police, the security services, and Belgian Interior Minister Annelies Verlinden and Justice Minister Vincent Van Quickenborne.

Authorities have not yet made an arrest and the suspect remains at large.

This is a developing story...

Tyler Durden Mon, 10/16/2023 - 16:15

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