Oil Holds Near 12-week High, With Energy Stocks Soaring

FTSE 100: +0.3% Friday, -15.8% YTD (+0.6% last week)

FTSE 250: 0% Friday, -10.9% YTD (+1.2% last week)

What to watch

Agilent Technologies: Laboratory instrument firm Agilent (A) is up 30% year-to-date, including a 12.8% gain over the past three months. The firm delivers its latest set of quarterly earnings on Monday, after delivering significant earnings beats in the previous two quarters. Earlier in November, the firm announced that it has had a new method for regulating and detecting dioxins (a group of pollutant chemicals that find their way into the food chain) approved by the US Environmental Protection Agency. Wall Street analysts are currently split between a buy and hold rating on the stock.

Warner Music Group: Warner Music Group (WMG) only listed on the Nasdaq exchange this year, with an initial public offering priced at $25 a share. Since then, the firm’s share price has risen to $29.32. The company is one of the largest recording firms in the business and has artists including Ed Sheeran and Beyoncé in its stable. WMG will hold its quarterly earnings call on Monday. Currently, analysts lean towards a hold rating on the stock and are anticipating an earnings per share figure of $0.04.

The winners and losers since Pfizer’s vaccine announcement

It has only been two weeks since Pfizer first announced its 90% plus effective COVID-19 vaccine trial result on November 9th, but the winners and losers stock-wise since then provide some indication of how markets might behave as vaccine approval and distribution begins to gain momentum.

Until Pfizer (PFE) made its announcement, the commodities, financials and energy sectors had suffered this year, with losses of 34%, 17% and 50% respectively according to financial advice firm Edward Jones. From November 9th to November 18th, those three sectors gained 6%, 10%, and 22%. At the other end of the spectrum, the technology and consumer discretionary sectors had gained 34% and 29% respectively in the year up to Pfizer’s announcement. From November 9th to 18th, the sectors both fell back by 1%.

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