A busy day on the London market, but I will write about the consumer health company Haleon (HLN), which many of you will remember split out from GSK (GSK) back in July last year. Whilst its shares remain above the level when I last wrote about it in November last year, the stock is down 4% today despite apparently having an "extraordinary year” as being the “first listed company 100% invested” in its specific space.

I always analytically like the pharmaceutical sector, even if I am not enough of a sector geek to be a massive expert. It is getting close to two years since I bought GSK plc (GSK) shares for the first time in a couple of decades. It gave a solid Q3 set of numbers earlier today, talking about “2022 Guidance raised…(as it) expect to deliver growth in sales of between 8%-10% CER and growth in 2022 adjusted operating profit of between 15%-17% CER". It is always better to raise numbers than not, but that does not mean that the management, led by the extremely well remunerated Dame Emma, does not still have a bunch of questions to answer.

It remains an interesting macro world when people who are not that naturally interested in the financial markets become obsessed with what the 10-year gilt yield is. It is a bit like when Barbra Streisand described herself as a day trader in late 1999, changes are upcoming soon. Despite the best efforts of the chancellor the UK is not going to go bust, your corporate pension won’t disappear and it remains very stupid to have a massive amount of cash in your back garden.