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STOXX 600 down 0.8%
Brent trades around $91/barrel
IEA set to recommend record release of oil stocks
US futures flat
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AJ BELL'S DIY INVESTORS BOUGHT THE DIP
Last week's spike in oil prices at the outset of military strikes in the Middle East sent a shockwave through markets, putting UK rate cuts in doubt and weighing on stocks.
But that didn't stop Britain's AJ Bell's retail investor base from buying the dip, especially in those companies hit particularly hard.
"Dips and dividends were the key trends for AJ Bell DIY investors responding to Middle East conflict-driven market volatility last week," writes Dan Coatsworth, head of markets at AJ Bell.
In fact, there were twice as many "buy" trades as there were "sells" between March 2-6 on the group's AJ Bell and Dodl platforms, Coatsworth says.
The companies that investors turned to included the hard-hit airline stocks, as well as jet-engine manufacturer Rolls-Royce RR.L, and Britain's homebuilders.
Shares in British Airways parent IAG ICAG.L slumped 14% last week but were the fourth most bought stock. EasyJet EZJ.L fell 12% and was the tenth most popular buy.
"The airline industry is no stranger to dealing with crises," Coatsworth notes.
Homebuilders Vistry VTYV.L and Taylor Wimpey TW.L were also in the top 10 most bought, despite fading expectations for rate cuts from the BoE that could have helped stimulate the housing market. Shares in the two companies fell 35% and 13% respectively last week.
(Samuel Indyk)
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EARLIER LIVE MARKETS POSTS
CAN MARKETS GET COMFORTABLE WITH THE WAR? CLICK HERE
EARNINGS BRIEFLY IMPORTANT FOR EUROPEAN MARKETS; INDITEX, RHEINMETALL IN FOCUS
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BEFORE THE BELL: FUTURES SOFTER, KEEP WATCHING OIL
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MORNING BID EUROPE: IT AIN'T OVER YET
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