Russ Mould is AJ Bell's Investment Director. He has a Master's degree in Modern History from the University of Oxford and more than 30 years' experience of the capital markets.
He started out at Scottish Equitable in 1991 as a fund manager, where he had responsibility for the Nordic and Swiss equity markets. In 1993, Russ joined SG Warburg, now part of UBS investment bank, and worked there as an equity analyst covering the technology sectors for 12 years. He has also worked on IPOs and M&A deals. Russ was voted best analyst in the semiconductor sector in 2001 by Institutional Investor and reached the level of Managing Director in 2003 when he became head of UBS' global semiconductor research effort.
A member of the Chartered Institute for Securities and Investment (MSCI), Russ is responsible for providing written and video content for customers and clients. He also helps to build the company’s profile in print and broadcast media as part of AJ Bell's wider PR and brand team, working alongside the Investment Committee.
Russ joined Shares Magazine as technology correspondent in 2005 and took on the post of Editor in 2008. He was appointed as AJ Bell's Investment Director in 2013 following the company's acquisition of Shares' parent company, MSM Media. Russ regularly creates content across the AJ Bell website, including the Daily Market Update and Chart of the Week, and he hosts his own 'Breaking the Mould' weekly video series.
Outside of work, Russ is a qualified cricket coach, Italian speaker and avid fan of Doctor Who and NFL.
30 April 2026
Daily market update: Markets mixed as Iran crisis continues, United Utilities, Rolls-RoyceThe relative calm the market has displayed so far over the Iran war has started to dissipate, with oil prices creeping higher on fears a timely resolution to the conflict is slipping away.
The FTSE 100 was helped by its oil and gas heavyweights but elsewhere there was heavy selling in Europe as the energy price shock threatens to intensify and with...
27 April 2026
Daily market update: Equity markets higher, Whitbread, motor finance redress schemeEquity markets pushed ahead in Europe despite oil prices creeping ever higher.
The exception was the FTSE 100 which held firm as energy and industrial sector gains were offset by weakness in consumer non-cyclicals and miners.
The oil market has been the place to watch closely since the start of March when the Middle East crisis unfolded. Oil below...
24 April 2026
Daily market update: FTSE falls after Bank of England warning, Intel, MondiAn official from the Bank of England has warned of a potential global stock market correction.
Deputy governor for financial stability Sarah Breeden told the BBC that current share prices didn’t reflect economic pressures facing the markets.
The stock market reflects what investors think will happen in the future. While markets have been wobbly...
22 April 2026
Daily market update: Markets steady on ceasefire extension, JD Sports, Shoe ZoneThe FTSE 100 was steady after an extension to the ceasefire between the US and Iran.
Mixed messages from Donald Trump, and an insistence that a US blockade of Iran will continue, mean investors are still playing a guessing game. Suggestions from the Iranian side that they will not attend today’s talks in Pakistan and an attack on a container ship...
21 April 2026
Daily market update: new CEO for Apple, British Land, Associated British FoodEuropean markets trod water in early trading as investors waited for the next update on US-Iran peace talks.
Oil prices remained below $100 a barrel which suggests cautious optimism that the Middle East conflict won’t intensify. However, the longer oil remains in the 90s range (currently $95), the higher the chance of an inflationary shock and a...
21 April 2026
What do events in the Middle East mean for the commodities market as a whole?Ask the experts. Russ Mould is on hand to answer your queries about the financial markets. If you'd like a question considered for a future edition, send it in now .
Or alternatively leave a rating for the article and include your question in the comment box.
There’s been plenty of news about rising oil and gas prices recently but I’m interested...
20 April 2026
Daily market update: Stocks slip back, oil above $90, Evoke, FTSE 100It appears last week’s market enthusiasm over the Strait of Hormuz reopening may have been premature.
Events over the weekend have left the ceasefire between Tehran and Washington looking as fragile as ever.
The Strait was open for just a day before the US seizure of an Iranian vessel. The continuing blockade of the country’s ports over the weekend...
17 April 2026
Daily market update: S&P 500 has increased, Asian and European markets, IntertekCrisis, what crisis? In forging ahead to new all-time highs on Thursday night, the S&P 500 has now increased by $1.5 trillion in value since the Iran war began.
While other global indices aren’t quite as buoyant – Asian stocks largely easing back in their latest trading sessions and European shares starting Friday modestly lower – most of the falls...
15 April 2026
Daily market update: Markets edge higher, ASML, Barratt RedrowMarkets appear to be more optimistic about a Middle East peace deal, with stocks edging higher across Asia and Europe.
Despite the advance in equities, there was still a slight sense of nervousness as there remains considerable uncertainty over a successful outcome from peace negotiations.
Investors seem happy to dip their toe in the water again...
13 April 2026
Daily market update: Markets slip, Strait of Hormuz blockade, Vistry, Heathrow, LidlThe failure of initial talks between the US and Iran cannot be counted as a huge eye-opener, but Donald Trump’s threat to launch a US blockade of the Strait of Hormuz might not have been on the market’s bingo card.
Investors are trying to gauge whether a fragile ceasefire will hold, and they are waiting to see the next moves from Tehran and...
2 April 2026
Daily market update: Markets in retreat, FTSE 100, BP, ShellInvestors didn’t get what they wanted from President Trump’s address to the American people and have reacted accordingly.
Famously, uncertainty is kryptonite for the markets and between the contradictory messages from Trump, disputed claims on both sides, and the lack of clarity on a plan which can provide a resolution to the conflict they are...
1 April 2026
FTSE 100 dividend forecasts hold firm in face of conflictThis article uses data from our quarterly Dividend Dashboard report. To dive into more detail you can read the full guide .
Despite the market drops in March following conflict in Iran, forecasts for aggregate FTSE 100 dividend payments for 2026 are up slightly over the last three months, at £88 billion compared to £86 billion in December, and...
1 April 2026
Daily market update: Markets surge, oil drops, Berkeley, BabcockThe market appears increasingly optimistic that an end to the war in Iran is in the offing as big gains in the US and Asia were matched in Europe on Wednesday morning.
The FTSE 100 is now firmly ensconced above the 10,000 mark and nearly 5% above its lows last week while Brent crude oil prices have dropped below $100 per barrel. European gas prices...
31 March 2026
Daily market update: Trump, Unilever, McCormick, LloydsThe FTSE 100 consolidated Monday’s gains to stand firmly above the 10,000 mark as investors continue to weigh competing narratives over the Iran conflict.
Wall Street saw selling yesterday and Asian shares were weaker on Tuesday but European markets responded positively to suggestions President Trump is mulling an exit from the war.
Reportedly this...
26 March 2026
Why bond yields are so important to stock marketsThe 2-year gilt is warning of possible interest rate increases, while the 10-year gilt yield now exceeds the FTSE 100 dividend yield by more than one-and-a-half percentage points. Both are factors which help to explain the FTSE 100’s retreat from its February all-time high.
The 2-year gilt yield is seen as a summary of financial markets’ views as...
25 March 2026
Daily market update: Equities, UK inflation, ASOS, Crest NicholsonEuropean markets moved higher in early trading on Wednesday, despite conflicting messages about the Middle East crisis.
The FTSE 100 moved back through the 10,000 level, led by banks and miners. Oil prices remained volatile as talk of a potential peace plan was offset by ongoing strikes in the Middle East and reports of the US sending more troops...
23 March 2026
Daily market update: Shares, bonds and gold hit by Trump 48-hour deadlineThe risk dial has been turned up again on the Middle East conflict, causing widespread turbulence on financial markets.
Donald Trump imposing a tight deadline changed the narrative for markets. Up until yesterday, investors were unsettled by activities but hoped the US president would eventually back down.
Trump telling Iran it had 48 hours to open...
21 March 2026
Why are banking shares doing badly this year?As of the close on Thursday (19 March), the FTSE 350 Banks sector index was down by 6% in 2026.
That leaves the sector ranked just 24th out of the 38 industrial sectors that make up the FTSE 350 overall, which is a huge contrast to 2025 when Banks ranked third behind only Precious Metals & Mining and Aerospace & Defence – and indeed the last five...
20 March 2026
Daily market update: Markets rebound, Unilever, McCormick, WetherspoonsA small rebound in European stock markets brought a sense of relief to the end of a turbulent week.
Oil prices eased back and the FTSE 100 advanced 0.5% to 10,113 thanks to a solid showing from banks and miners – the two main culprits for Thursday’s market weakness.
Unilever sprung to life as talk about selling its food brands intensified. The...
18 March 2026
Daily market update: Markets, Prudential, BHP, Ramsdens, UnileverTalk of a deal between Iraq and Turkey to restart oil supplies has helped to calm financial markets.
This provided some relief to investors on the edge of their seats amid worries about disruptions to oil supplies. While the news helped to nudge down Brent prices by 0.5% to $102.89 a barrel, getting the commodity value significantly lower still...
17 March 2026
Does the volatility in gold signal the end of the bull market?Ask the experts. Russ Mould is on hand to answer your queries about the financial markets. If you'd like a question considered for a future edition, send it in now .
I’ve been following the move higher in the gold price and the recent slump – is gold likely to remain under pressure from here?
Ken
Russ Mould, AJ Bell Investment Director, says:Wi...
16 March 2026
Daily market update: FTSE 100, CRH, Thames Water, Scottish MortgageThe FTSE 100 ticked higher at the start of the week as its material weighting towards energy continued to offer some ballast during the Iran conflict.
Oil prices were higher again and Asian markets were lower as fighting in the Middle East rumbles on. By the time markets opened in Europe, oil was a little off its highs for the session. Over the...
12 March 2026
Daily market update: FTSE 100 falls, Shawbrook, On The BeachOnce again the FTSE 100 was protected from the worst of the falls on Thursday as its higher exposure to the energy sector helped support the UK stock index.
Nonetheless, UK stocks were still in the red as investors reacted to ongoing disruption to energy markets from the Middle East conflict. Oil prices surged through the $100 per barrel mark for...
10 March 2026
Daily market update: Trump, oil, Persimmon, Domino’s, Edinburgh WorldwideThe market is in highly speculative mode thanks to the absence of any certainty about what the next few days, let alone weeks will look like.
In these circumstances, Donald Trump’s comments about the Iran war ending soon have been seized upon like water offered to someone who’s just consumed a full bag of salty crisps.
The levels of volatility in...
6 March 2026
Daily market update: FTSE 100, oil prices, IMIMarkets displayed resilience in the face of events in the Middle East, with the FTSE 100 ticking higher on Friday.
This comes after mixed trading in Asia and with futures pointing to small gains on Wall Street later. Concern about inflation remains elevated with oil prices on course for their largest weekly gains since Russia’s invasion of Ukraine...
4 March 2026
Daily market update: Vistry, Metro Bank, Adidas, motor financeIf yesterday was capitulation, today is investors catching their breath.
Most of the main European stock markets regained their balance and either edged higher or held firm, much to the relief of investors who have witnessed two days of share prices flashing red.
Tuesday was dominated by investors selling assets that had already served them well...
27 February 2026
Daily market update: IAG, Senior, Hays, Warner BrosThe FTSE 100 is now less than 1% away from hitting 11,000, suggesting the milestone is perfectly in reach in a matter of days or hours rather than months.
Two months in, it looks like 2026 could be a second bumper year in a row for investors putting their faith in UK stocks if current performance trends continue.
Rightmove regained its poise after...
25 February 2026
Daily market update: FTSE 100, HSBC, TrainlineThe FTSE 100 resumed its upwards charge after well-received results from HSBC reenergised the market.
The UK index hit a new intraday high of 10,778 in early trading as HSBC did some heavy lifting alongside Shell, and RELX extended yesterday’s recovery rally after a nasty AI-related sell-off last month.
The strong showing from the UK stock market...
23 February 2026
Daily market update: tariff uncertainty, gold, MONY, Johnson MattheyThere is some trepidation in the air after last Friday’s ruling from the Supreme Court.
While tariffs are generally not seen as market friendly, investors had absorbed the trade policies announced by the Trump administration last year and were just hoping for some certainty and stability.
Last week’s intervention from the Supreme Court delivers...
20 February 2026
Daily market update: FTSE 100, retailers, Klarna, Anglo AmericanThe FTSE 100 started off its final trading session of the week in decent fettle, although remained a distance from its recent record highs above 10,700.
Threats of military action against Iran from the Trump administration, if the country doesn’t make a deal on its nuclear programme, created some jitters in the market yesterday – with selling in US...
20 February 2026
Is now the time to shine a light on emerging markets?Ask the experts. Russ Mould is on hand to answer your queries about the financial markets. If you'd like a question considered for a future edition, send it in now .
Amid all the talk about Trump it feels like emerging markets are being ignored, what is their outlook like in the current market environment?
Michael
Russ Mould, AJ Bell Investment...
18 February 2026
Daily market update: oil prices, BAE Systems, Glencore, motor financeThe FTSE 100 made new record highs above 10,600 as inflation dropped more sharply than expected to a 10-month low.
This increases the chances of an interest rate cut when the Bank of England meets next month – which is typically good news for stocks and shares in general. It is also a positive for the FTSE 100 given the likely knock-on effect on...
17 February 2026
Daily market update: BHP, Antofagasta, InterContinental Hotels, DebenhamsThe FTSE 100 continues to edge quietly higher and is comfortably outperforming the US stock market so far this year.
The FTSE 100 is up 5.6% versus a 0.1% decline in the S&P 500. The gap is even wider against the tech-heavy Nasdaq index which is down 3% year-to-date.
Driving the UK market higher on Tuesday was a rebound in the plethora of stocks...
13 February 2026
Daily market update: tech gloom weighs on Asia and Europe, NatWest, ITVA gloomy session on Wall Street on Thursday put investors in a grumpy mood at the end of the trading week.
Association with AI has gone from party to peril as investors reappraise what the technology means for companies.
Some are concerned about excessive levels of spending and others fear AI will disrupt multiple industries. It all adds up to a...
11 February 2026
Daily market update: Barratt Redrow, Heineken, London Stock Exchange GroupThe FTSE 100 ticked higher on Wednesday, supported by gains in bank and resource stocks and chatter that London Stock Exchange Group has been targeted by activist investor Elliott.
A recovery in commodity prices after the recent volatility helped give the miners and energy stocks a lift. Oil was supported by US-Iran nuclear deal uncertainty, while...
9 February 2026
Daily market update: Japanese shares, gilts, Ocado, FedEx InPost bidA calm start to the week on financial markets is a major relief given recent tech sector jitters.
All the major European indices moved higher, with the FTSE 100 led by mining stocks.
Ocado nudged higher on reports it will cut up to 1,000 jobs. Investors typically welcome such moves as it removes costs from a business. Ocado has been through a...
6 February 2026
Daily market update: Stellantis, AmazonIt’s been a week from hell for tech stocks as AI spending plans caused upset across global markets and pushed investors to unplug hyperscalers from their portfolios.
Amazon has followed its peers by turning up the dial to max on AI spending, leaving investors with their jaws to the floor. The hyperscalers are so confident that AI will change the...
3 February 2026
Daily market update: gold, Japan rally, SpaceX and xAI, AG BarrThe sharp sell-off in gold over the past few days has encouraged investors to buy on the dip, scooping up the precious metal in their droves and making it sparkle again.
Gold has delivered such strong rewards to investors over the past year that many people will have treated the recent sell-off as a New Year’s sale, a chance to grab more metal at a...
2 February 2026
Daily market update: commodity prices slump, AI competition heats upCommodities markets have experienced a significant shockwave, with metal prices down sharply. This has reversed a winning trade for the plethora of commodity producers on the FTSE 100.
Miners including Fresnillo and Antofagasta, and oil producers BP and Shell, were pulled into the red as investor sentiment towards their sectors wanes and earnings...
29 January 2026
Daily market update: Lloyds, EasyJet, Meta, MicrosoftThe FTSE 100 got off to a strong start as gold moved through $5,500 and oil ticked up amid mounting tensions between the US and Iran.
The mining sector did much of the heavy lifting for the index, buoyed by a positive production update from Glencore and the impact of precious metals strength on Fresnillo and Endeavour. BP and Shell were lifted by a...
28 January 2026
Daily market update: ASML, SpaceX, British LandThe FTSE 100 moved higher despite a continuing slide in the dollar, as it took its cue from gains on Wall Street overnight.
A weaker US currency is a headwind for the large contingent in the index which derive their revenue from across the Atlantic – although it continues to provide support to dollar-denominated gold which has moved above the $5...
26 January 2026
Daily market update: gold, Nikkei, Ryanair, Spire HealthcareThere may not be any big geopolitical news to rival last week’s Greenland drama, but internal tensions in the US are helping to keep precious metals prices elevated.
Gold has moved through $5,000 for the first time – showing investors are still seeking out the traditional haven for some insurance against what remains a febrile backdrop.
In less...
22 January 2026
Daily market update: markets rebound, B&M, The Works, WickesDonald Trump’s TACO bell has rung once again, much to the joy of financial markets.
Trump has form in chickening out of his threats, and investors are pleased he confirmed no plans to use military action to take Greenland or to impose new tariffs on parts of Europe.
Following a strong session for Wall Street last night, Asian and European markets...
20 January 2026
Daily market update: markets lower with Greenland in focus, Kraken, GSKDespite a difficult start to the week it feels like the market is still in wait-and-see mode over whether there will be a full-blown trade war between the US and Europe.
Since the market close last Friday, the French and German flagship indices are down 2.5% and 2.3%, partly thanks to French luxury goods firms’ and German carmakers’ substantial...
16 January 2026
What do sky-high government debt and records for equities and gold mean for investors?Ask the experts. Russ Mould is on hand to answer your queries about the financial markets. If you'd like a question considered for a future edition, send it in now.
Equities and gold are close to all-time highs, while government debt has also sky rocketed. What does this mean for investors?
Simon
Russ Mould, AJ Bell Investment Director, says:The...
15 January 2026
Daily market update: GDP, Dunelm, TSMC, Taylor Wimpey, AsdaThe UK stock market was flat despite positive GDP news.
The FTSE 100 is not a direct play on the UK economy given the multitude of overseas earners. The flat performance was a result of gains in financials and industrials being offset by weakness in oil producers and miners.
Brent crude fell by 3.2% to $64.40, a substantially larger movement than...
12 January 2026
Daily market update: gold, Barclays, British Land, Heineken, Auction TechnologyMarkets dipped as investors feared about the independence of the Federal Reserve.
US prosecutors launched a criminal investigation into Fed chair Jay Powell over a renovation of the central bank’s headquarters. Powell implied the root of the issue was the Fed’s refusal to cut interest rates as fast as Trump wants, rather than any matters involving...
9 January 2026
Daily market update: mining mega-merger talks, TSMC, Sainsbury’sThe FTSE 100 solidified its position above 10,000 on Friday after a mixed week which has seen the index attain fresh record levels.
The mood music around UK stocks remains positive, even if Christmas updates from the retail sector have not inspired too much cheer – a downbeat update from the British Retail Consortium on footfall only adding to the...
8 January 2026
Daily market update: Trump's defence spending proposal, Tesco, Shell, GreggsWatch the bond market closely as Trump’s proposal to radically increase defence spending could put even more pressure on the already sky-high US national debt.
While Trump insists any extra spending would be paid for by tariffs, bond markets might not be as convinced. Equity markets are already looking a bit doubtful, with futures prices implying a...
7 January 2026
Job security for FTSE 100 bosses much higher than for their football counterpartsShareholders are not necessarily famous for their patience, but they seem to possess more of it than football boardrooms or supporters.
Recent events at Manchester United suggest as much, and there were, once more, fewer changes in FTSE 100 CEOs than English league football managers in 2025.
Fourteen FTSE 100 firms saw a change in chief executive...
