Connor Campbell, a financial analyst at Spreadex used trumpís parlance to call the first quarter GDP data coming out of America a HUUUUUGE disappointment. The reading was the worst quarterly reading in the last three years, something that some may consider validation of their criticism of Trumpís policies. However, itís important to remember that Trumpís policies wonít have had much of an effect on the countryís growth just yet - hence why the marketís reaction to the reading is so muted.
The dollar has responded quite well - shrinking in its losses against the pound and the euro. The Dow Jones, however, slipped by 30 points to 20950 - still 200 points higher than the starting point for the week.
WPP chief Sir Martin Sorrel took a £22 million pay cut last year, in spite of his business delivering significant increases in revenues and profits. His total pay and bonuses fell to £48.1 million, down from £70.4 million in the previous year. This was down to a smaller share incentives award. His base salary remained flat at £1.15 million. Sorrel remains the FTSE 100 highest paid executive, and the controversial incentive scheme means that his total renumeration over the last five years was in excess of £200 million. At last yearís annual meeting, one third of the companyís shareholders rejected the companyís renumeration report, and a less generous renumeration scheme was introduced.