Check the background of this firm on FINRA's BrokerCheck.

Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

Check the background of this firm on FINRA's BrokerCheck.

Diamonds and Dogs

6/27/16

Brexit shocker means another risk off day. Any stocks with UK or European exposure like the banks (Barclays) have been taking a hit. Today's dog is Ryanair (RYAAY) the passenger-airline service provider based in the UK (enough said). The stock dropped 10% even though management said bookings have remained strong despite last week's Brexit vote. Unfortunately investors are focusing on the CEO's comments from last week when he said an economic downturn lasting two or three years could occur if the Brexit vote passed, and the company's budget-conscious customers could be hit hardest. 

Boring is beautiful. After the Brexit vote, it's a risk off market with money flowing to boring stocks like utilities, consumer staples and telecom. Many US utilities made 52 week highs, but today's diamond is Japanese based utility, Nippon Telephone and Telegraph (NTT) up 5%. No real news on the stock, but a major restructuring to unlock value may be finally coming to fruition.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.