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.
10 October 2025
Daily market update: gold miners, Hays, defence stocks, IbstockThe FTSE 100 was stuck in the mud as the rest of Europe ploughed ahead at the end of the trading week.
Strength in consumer stocks and utilities was offset by weakness in miners and healthcare.
Gold miners sold off as investors took some profits following the storming run for the metal price. There was bound to be a pullback at some point given...
9 October 2025
Daily market update: HSBC, tech rally, Lloyds, Mobico, TSMCAnother day, another record closing level for both AI chip giant Nvidia and the tech-heavy Nasdaq index in the US, says Russ Mould, investment director at AJ Bell.
Investors who have held their nerve are cleaning up, yet the drums of worry are banging louder each day.
Concerns around excessive valuations, elevated levels of government borrowing...
8 October 2025
Gold price hits $4,000 for first time: how to invest in the precious metalGold has hit $4,000 an ounce for the first time, extending a series of record highs achieved in 2025. It first moved above $3,000 six months ago when US President Donald Trump announced his ‘Liberation Day’ tariffs, and the US government shutdown has now helped drive the precious metal to new highs.
Even before the tariff turmoil, central bank...
8 October 2025
Daily market update: FTSE 100, gold miners, Lloyds, Anglo American, TeslaAfter a miserable day on Wall Street yesterday, European markets opened with a spring in their step,” says Russ Mould, investment director at AJ Bell.
The FTSE 100 was propelled by Lloyds enjoying a relief rally amid relatively positive news on the motor finance scandal, while Endeavour Mining continued to shine off the back of gold surpassing $4...
7 October 2025
Daily market update: Shell, house prices, Tesla and B&MThe FTSE 100 held firm at the market open on Tuesday as strength in energy stocks was offset by weakness in miners and banks, says Russ Mould, investment director at AJ Bell.
The broader Stoxx Europe 600 index was also flat despite the best efforts of construction group Skanska which stood tall after a bullish broker note.
Futures prices imply a...
3 October 2025
Daily market update: FTSE 100 hits fresh all-time high, cost pressures hit WetherspoonThe FTSE 100 reached new record highs in early trading on Friday as investors shrugged off concerns about the US government shutdown.
News of OpenAI’s valuation reaching $500 billion, making it the world’s most valuable private company, helped fire enthusiasm in the tech sector and push US indices to new records yesterday.
There is growing...
2 October 2025
Daily market update: OpenAI, Tesco, Thames Water, stamp duty holidayYesterday, the FTSE 100 bucked a weak market open by rising above its peers in Europe. Today, it’s done the opposite, says Russ Mould, Investment Director at AJ Bell.
Strength among financials and miners wasn’t enough to offset weakness in utilities, tobacco and energy stocks.
Experian’s shares tumbled after the emergence of a new competitive...
1 October 2025
Daily market update: Diversified Energy, Nike, Taylor Wimpey, Topps TilesThe US government shutdown has left investors wondering what might happen next, with a minor pullback on European equity markets and weaker futures prices for Wall Street, says Russ Mould, Investment Director at AJ Bell. The FTSE 100 bucked the negative trend, rising 0.4% thanks to a surge in pharmaceutical stocks.
AstraZeneca, Hikma and GSK...
30 September 2025
Daily market update: gold, Smith & Nephew, Royal Mail, ASOS, AG BarrThe FTSE 100 was lower on Tuesday as investors started to fret about the prospect of a government shutdown in Washington, says AJ Bell Investment Director Russ Mould.
Relations between the Democrats and Republicans are frostier than an Alaska morning, so markets are not confident on the prospects of agreeing a deal before midnight tonight.
One of...
29 September 2025
Daily market update: FTSE 100, gold, GSK, AstraZenecaThe FTSE 100 was firmly higher on Monday after the market took reassurance from Friday’s reading of US inflation, says AJ Bell Investment Director Russ Mould.
The fact the PCE number – closely followed by the Federal Reserve when making interest rate decisions – came in bang in line with expectations helped create a positive mood on Wall Street...
26 September 2025
Daily market update: new tariffs, TikTok, PennonThere was a peculiar end to the week for financial markets as Asian indices were in the red while European indices moved higher, says Russ Mould, Investment Director at AJ Bell.
Asia was dragged down by weakness in pharmaceutical stocks as investors worried that numerous players would be caught up in a twist to Trump’s tariff regime.
There was also...
25 September 2025
Daily market update: Mitchells & Butlers, H&M, Babcock, DFSThere was a sea of red across European markets as healthcare, real estate, financials and industrial stocks were out of fashion, says Russ Mould, Investment Director at AJ Bell.
Weakness in names such as HSBC and AstraZeneca would suggest a more cautious tone among investors, but not a complete shift in sentiment.
Futures prices imply progress for...
24 September 2025
Daily market update: JD Sports, Greggs, Alibaba, Beauty TechThe FTSE 100 was off to a poor start on Wednesday, taking its cue from losses in the US overnight as Federal Reserve chair Jerome Powell painted a mixed picture on the outlook for interest rates, says AJ Bell Investment Director Russ Mould.
Powell’s measured take, as he seeks to balance risks posed by inflation and a stuttering labour market, was...
23 September 2025
Daily market update: OpenAI-Nvidia tie-up, Kenvue, Kingfisher, Raspberry PiThe FTSE 100 ticked higher on Tuesday as US shares were higher despite the hoo-ha around visa fees, says AJ Bell Investment Director Russ Mould.
Helping to draw focus from this issue was Nvidia’s $100 billion tie-up with OpenAI which helped US indices and some Asian markets to new record levels.
There was a split of opinion on whether this...
22 September 2025
Daily market update: FTSE 100, gold, airport cyberattackLike a teenager still adjusting to being back at school, the FTSE 100’s recent lethargy continued as the index traded lower at the start of the new trading week, says AJ Bell Investment Director Russ Mould.
US indices may have clawed their way to new record highs last Friday and the Nikkei 225 bounced back on Monday, but UK stocks were held back by...
19 September 2025
What to expect from FTSE 100 dividends this yearThe FTSE 100 has performed well so far in 2025 and has hit new highs. That share price success might have delivered capital gains for investors but also means the prospective dividend yield is less attractive, currently offering 3.3%.
Dividend yields are calculated by expressing the expected dividend per share as a percentage of the current share...
19 September 2025
Daily market update: public sector finances, UK retail sales, TikTok, Live NationThe FTSE 100 was steady on Friday morning as US indices reached record highs overnight before news from Japan inspired some modest selling in Asia, says AJ Bell Investment Director Russ Mould.
While the Bank of Japan kept rates on hold last night there were two dissenters pushing for a hike and this offered a hint the central bank might phase out...
18 September 2025
Daily market update: central banks, gold, Next, InspecsWhile the rate cut machine has whirred back into action for the US, it’s expected to remain idle in the UK for a bit longer, says Russ Mould, Investment Director at AJ Bell.
Central banks have a key focus on two things: inflation and the jobs market. They raise interest rates if inflation or the economy are looking too hot and cut if the economy...
17 September 2025
Daily market update: GSK, AstraZeneca, Barratt Redrow, UnileverIt’s the big day investors have been anticipating all year – the first likely rate cut from the Federal Reserve in 2025. It’s a question of how much, not if, says Russ Mould, Investment Director at AJ Bell.
The market expects a quarter percentage point cut in recognition of a cooling jobs market. That result could help financial markets to keep...
16 September 2025
Daily market update: Nvidia, TikTok, Unilever, KierA barrage of US companies are expected to announce big investments in the UK to coincide with Donald Trump’s state visit, says Russ Mould, Investment Director at AJ Bell.
They are guaranteed widespread publicity and will likely please Trump by making the US look good.
Google-owner Alphabet is the latest name in the frame, with news it will spend £5...
15 September 2025
Daily market update: Centrica, Aldi, AOThe FTSE 100 was flat at the start of what could be a crunch week for financial markets, says AJ Bell Investment Director Russ Mould.
Later this week the Bank of England and US Federal Reserve are set to announce their latest decision on interest rates. Most of the recent progress made by US stocks has been founded on an expectation that a US rate...
12 September 2025
Daily market update: GDP figures, FTSE 100, FTSE 250, Ocado“A lacklustre GDP figure is more relevant to the FTSE 250 than the FTSE 100 index given the former has a greater proportion of domestic-focused companies,” says Russ Mould, Investment Director at AJ Bell.
“It’s never a good look for a country to be stuck in the mud, and the GDP data will put even more pressure on chancellor Rachel Reeves to find a...
11 September 2025
Daily market update: defence and oil stocks, Trainline, Klarna“Despite a mixed session on Wall Street last night and a small rise in the Vix volatility index, pockets of Europe and Asia moved higher on Thursday,” says Russ Mould, Investment Director at AJ Bell.
“The UK’s FTSE 100 led the charge in Europe as defence and energy stocks were at the top of investors’ buy lists. Ongoing geopolitical tensions have...
10 September 2025
Daily market update: Oracle, Primark, Zara, Apple, Novo Nordisk“European shares pushed ahead on a busy day for corporate news,” says Russ Mould, Investment Director at AJ Bell.
“A record-breaking day for Wall Street yesterday helped to calm investor nerves over Poland shooting down Russian drones that violated its airspace. Geopolitical concerns have been front and centre for multiple years, and investors had...
9 September 2025
Daily market update: French equities, Computacenter, Anglo American, Dunelm“A spate of deal-making fired up equities, with many of the main market indices advancing in Europe and Asia. Futures prices also imply a decent start to Wall Street when US markets open later,” says Russ Mould, Investment Director at AJ Bell.
“ Anglo American unveiled a deal to gobble up rival copper miner Teck. On a smaller scale, Novartis said...
8 September 2025
Daily market update: Japanese stocks, Domino's, Vistry, Grainger“The FTSE 100 ticked higher on Monday as investors shrugged off the weak US jobs numbers which affected sentiment at the end of last week,” says AJ Bell Investment Director Russ Mould.
“Investors were hoping for a Goldilocks number – which was not hot enough to prevent the Federal Reserve from cutting rates when it meets next week but not so tepid...
5 September 2025
Daily market update: housebuilders, Lululemon, Broadcom, Gear4Music“Equity markets were quiet at the end of the week, albeit there is still a chance for a last-minute wobble if US jobs data delivers a shock,” says Russ Mould, Investment Director at AJ Bell.
“Non-farm payrolls are expected to have grown by 75,000 in August, slightly above July’s 73,000 figure. Investors are looking to see if the jobs market is hot...
4 September 2025
Daily market update: Eurocell, Jet2, Currys“The FTSE 100 pushed ahead as bond markets calmed down and the focus shifted to US jobs data,” says AJ Bell Investment Director Russ Mould.
“Ahead of non-farm payrolls on Friday, sharply lower job openings across the Atlantic suggested a weakening in the labour market which could push the Federal Reserve to cut interest rates more aggressively.
“Ma...
3 September 2025
Daily market update: Alphabet, Hilton Food, Canal+, Watches of Switzerland“It’s another uneven day for financial markets as the worry list gets even longer,” says Russ Mould, Investment Director at AJ Bell.
“Having been troubled by a jump in long-dated government bond yields yesterday, equities got off to a wobbly start again as investors woke up to leaders of China, Russia and North Korea coming together in public for...
2 September 2025
Daily market update: Centrica, Nestle, Tesla, gold and silver“The FTSE 100 slipped in early trading on Tuesday as investors await the resumption of trading on Wall Street after yesterday’s Labor Day holiday,” says AJ Bell investment director Russ Mould.
“Tobacco, utilities and banks acted as a drag on the UK index, failing to offset strength in energy and healthcare.
“Oil stocks and precious metals miners...
1 September 2025
Daily market update: defence stocks, Rolls-Royce, BYD, Domino’s Pizza“European markets enjoyed a decent start to the week, grabbing investors’ attention as US markets will be closed later for the Labor Day holiday,” says AJ Bell Investment Director Russ Mould.
“Wall Street was weak last Friday as a key measure of inflation came in higher than expected. That negativity weighed on Japan where the Nikkei saw a big drop...
29 August 2025
Daily market update: UK banks, US inflation data, Wood Group“The UK stock market ended the week on a sour note amid suggestions that the government could help to fill its fiscal hole with a new tax on the banking sector,” says Russ Mould, Investment Director at AJ Bell.
“Some of the biggest names in the FTSE 100 are lenders so if they’re out of favour on the stock market, it acts as a drag on the whole UK...
28 August 2025
Daily market update: Nvidia, Tesla, Drax“The UK market was steady on Thursday morning after mixed trading in Asia and modest gains on Wall Street overnight,” says AJ Bell Investment Director Russ Mould.
“ Nvidia may have taken a bit of a tumble as its earnings proved mixed but that didn’t damage investor sentiment too much on a broader scale.
“A modest recovery in the dollar, despite the...
27 August 2025
Daily market update: FTSE 100, Nvidia, JD Sports, National Grid“A small rally on Wall Street last night set the tone for a calmer session in Europe on Wednesday,” says Russ Mould, Investment Director at AJ Bell.
“Trump’s latest meddling with the Federal Reserve had threatened to cast a dark cloud over global markets, yet investors didn’t enter the panic zone.
“The FTSE 100 advanced 0.2% to 9,280, led by oil...
26 August 2025
Daily market update: Costa Coffee, British American Tobacco, Bunzl“A jump in US Treasury yields indicates that bond investors aren’t happy about how Trump continues to meddle with the Fed and threaten its independence,” says Russ Mould, Investment Director at AJ Bell.
“Equity markets were in the red across Europe and Asia, and futures prices imply Wall Street will follow suit when it opens for trading later today...
18 August 2025
Daily market update: Jackson Hole in focus and LandSec office sale“The FTSE 100 ticked higher on Monday morning but was still firmly below the intraday record highs achieved on Friday morning,” says AJ Bell investment director Russ Mould.
“Any optimism that the summit between President Trump and Russian leader Vladimir Putin would yield immediate progress towards a peace deal proved misplaced, but the market will...
15 August 2025
Daily market update: FTSE 100, Intel, Associated British Foods“It is not often that the market’s attention is centred on Alaska but the US state will be firmly in focus on Friday as President Donald Trump and Russian leader Vladimir Putin meet to discuss the Ukraine conflict,” says AJ Bell Investment Director Russ Mould.
“Any outcomes will not come until after UK markets have concluded trading for the day but...
14 August 2025
Daily market update: Admiral, Aviva, Antofagasta, Centrica“The FTSE 100 dipped from yesterday’s record close on Thursday morning after gains on Wall Street and mixed trading in Asia overnight,” says AJ Bell Investment Director Russ Mould.
“Increased hopes for interest rate cuts from the Federal Reserve helped US indices to advance on Wednesday, though some of that momentum had evaporated by the time Asian...
13 August 2025
Daily market update: tariffs, global stocks, Persimmon“Animal spirits are definitely in charge of the market right now, as investors embrace the potential for the Fed to cut interest rates in the wake of what was seen as a soft inflation reading in the US,” says Russ Mould, Investment Director at AJ Bell.
“The US central bank still remains in cautious mode, waiting to observe if tariffs stoke a pick...
12 August 2025
Daily market update: Spirax, Entain, Bellway“Markets reacted with relief to news of an extension on the US-China trade deadline which was set to expire today,” says AJ Bell Investment Director Russ Mould.
“However, this relief was measured given the market had largely anticipated such an outcome. Asian stocks were higher overnight and the FTSE 100 got a boost from a mining sector whose...
11 August 2025
Daily market update: FTSE 100, gold, S4 Capital, Nvidia/AMD, Marshalls“The FTSE 100 made a decent start to the trading week as some recent laggards attracted attention from bargain hunters,” says AJ Bell Investment Director Russ Mould.
“The market seems very relaxed ahead of tomorrow’s deadline on US-China trade talks, reflecting the assumption an extension is in the offing and a deal will eventually be reached...
5 August 2025
Berkshire Hathaway stops building cash but share price slide continuesIn the three months since Warren Buffett announced his retirement plans, Berkshire Hathaway’s share price has continued to slide, perhaps suggesting that investors are yet to convince themselves the company can continue as an investment powerhouse without Buffett at the helm.
The decline in Berkshire’s share price since Buffett’s announcement on 3...
5 August 2025
Daily market update: Smith & Nephew, Fresnillo, BP, Diageo, Palantir“The FTSE 100 has its recent record highs in its sights again as global markets shake off the latest tariff turmoil,” says AJ Bell Investment Director Russ Mould.
“Strong corporate results are helping as they show businesses can still thrive despite the turbulent backdrop.
“ Smith & Nephew seems as if it’s been on the waiting list for a recovery...
4 August 2025
Daily market update: Supreme Court motor finance ruling, Clarkson, BP“The FTSE 100 managed a cautious recovery on Monday morning after the tariff-related sell-off at the end of last week,” says AJ Bell Investment Director Russ Mould.
“Concern about the ongoing ructions in global trade was compounded by the Trump administration’s decision to fire the head of the Bureau of Labor Statistics off the back of weak jobs...
1 August 2025
Daily market update: tariffs, AstraZeneca, GSK, IAG“Equity markets were flashing red as Trump’s tariff regime hits another milestone,” says Russ Mould, Investment Director at AJ Bell.
“Investors have been caught off guard, having previously hoped Trump would kick the new tariff levels down the road pending further negotiations with foreign trade partners. Instead, we’ve got new rates galore and...
31 July 2025
Daily market update: Shell, Unilever, Next, Rolls-Royce“Stellar results from Microsoft and Meta have fired up investors, quickly shifting the focus from US interest rates potentially staying higher for longer, to an environment where big tech is ruling the roost again,” says Russ Mould, Investment Director at AJ Bell.
“The probability of a US rate cut in September has fallen since the Fed’s rate...
30 July 2025
Daily market update: HSBC, Taylor Wimpey, BAE Systems“Investors got out of the wrong side of the bed, judging by the negative reaction to the latest round of corporate earnings,” says Russ Mould, Investment Director at AJ Bell.
“While certain stocks fell for good reason such as HSBC and Taylor Wimpey amid negative news, there were plenty of other big stocks like BAE Systems and GSK who couldn’t get a...
29 July 2025
Daily market update: Greggs, Barclays, AstraZeneca, WH Smith, Card Factory“The FTSE 100 enjoyed another good start, lifted by positive market reaction to AstraZeneca’s numbers and Games Workshop delivering yet another strong set of results,” says Russ Mould, Investment Director at AJ Bell.
“It’s a busy week for corporate earnings in the UK and US, and investors have plenty of news to digest. The latest set of UK results...
28 July 2025
Daily market update: European markets rally, AstraZeneca, GSK, STV“The much-awaited trade agreement between the US and the EU has finally been struck, sending a wave of relief across financial markets,” says Russ Mould, Investment Director at AJ Bell.
“As widely expected, the agreed tariffs aren’t as high as previously feared, which means investors are taking the trade agreement as a massive win.
“In reality...
25 July 2025
Daily market update: NatWest, Puma, Rightmove, Marshalls“The FTSE 100 lost some ground as investors took stock after another breathless week for the markets,” says AJ Bell Investment Director Russ Mould.
“There was positive economic news from the UK as retail sales bounced back in June helped by warm weather – although beyond the headline there were several signs that consumer confidence remains fragile...
