DAILY TRADING STRATEGY

Tuesday, Nov 28

UK OVERVIEW
U.K. stocks turned higher Monday, aiming for a gain after two days of losses, even as mining shares fell under the weight of concerns about the health of Chinese companies.  Insurers got a boost after a report that Aviva PLC is ready to launch a share buyback. The FTSE 100 index flipped up 0.3% to 7,4131.67 after opening slightly lower. Only the basic materials and tech sectors were losing ground. On Friday, the London benchmark lost 0.1% but logged a weekly rise of 0.4% to snap a two-straight run of weekly losses. The pound changed hands at $1.3347, up from $1.3332 late Friday in New York. Sterling picked up 0.9% against the U.S. dollar last week, according to FactSet data. Most mining shares started the week in the red in London. The sector logged losses on Asian markets as bond yields climbed and as Beijing kept up its crackdown on so-called shadow banking. Higher yields on debt would increase borrowing costs for companies. Chinese stocks stumbled Monday, with the Shenzhen Index 399100, losing 1.6%. 

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