Market Commentary
Weekly Market Update 26/07/2024
It has been a big week in the US with Joe Biden stepping down from the presidential race and Kamala Harris becoming the new Democratic candidate. It was on Sunday that 81-year-old Biden announced he would be withdrawing, after weeks of infighting among Democrats over whether the president would be mentally or physically able to…
Read MoreWeekly Market Update 12/07/2024
The UK economy experienced strong growth in May, with GDP up 0.4% according to data from the Office for National Statistics, double the expected figure from Reuters. This strong growth was driven by a rebound in housebuilding and continued expansion in services. This could complicate the Bank of England’s decision of when to start cutting…
Read MoreWeekly Market Update 28/06/2024
The UK economy grew 0.7% in the first quarter of the year according to the Office for National Statistics, higher than the previously estimated 0.6%, boosted by stronger household spending. This is the fastest growth in UK GDP since the end of 2021, and marks the end of last year’s technical recession. However, monthly figures…
Read MoreWeekly Market Update 21/06/2024
Nvidia continued its dramatic journey this week, surpassing Microsoft to become the world’s most valuable listed company in trading on Tuesday, valued at $3.335tn, equating to about $135 per share. Two years ago, the company was valued at around $300bn, and eight years ago was worth less than 1% of its current value. Turning…
Read MoreWeekly Market Update 14/06/2024
The S&P500 and Nasdaq hit new all-time highs this week as investors focussed on the unexpectedly lower inflation figure of 3.3% in May, down from 3.4% in April. However, Federal Reserve officials have signalled they now only expect to cut rates once this year, holding rates at a 23-year high with concerns that inflation remains…
Read MoreWeekly Market Update – 07/06/2024
This week, the European Central Bank cut interest rates for the first time since 2019. Rates were cut by 0.25% to 3.75%, a move that the Federal Reserve and Bank of England are yet to follow, although both of these central banks are holding their next policy meetings in the coming weeks. ECB president Christine…
Read MoreWeekly Market Update – 31/05/2024
After weeks of negotiations, this week Czech billionaire Daniel Křetínský has agreed to buy the owner of Royal Mail, International Distribution Services, for 370p per share, valuing the group at £5.3bn. Křetínský’s EP Group must meet commitments such as retaining its UK headquarters and maintaining Royal Mail’s obligation to deliver mail everywhere in the UK…
Read MoreWeekly Market Update – 24/05/2024
The country was caught by surprise on Wednesday, when Prime Minister Rishi Sunak announced a snap election on 4th July, months earlier than the anticipated Autumn timescale. Some within the Conservative party have criticised the timing whilst the Tories are currently so far behind in the polls, and that Sunak has not given the economic…
Read MoreWeekly Market Update – 17/05/24
The old stock market adage “sell in May and go away” would so far have proved to be a costly strategy this year, with major global market indices registering another week of solid gains. Investors cheered the US inflation print on Wednesday, with US stocks closing at record highs after the data showed inflation…
Read MoreWeekly Market Update – 10/05/24
It was a positive week in global financial markets, with all of the major indices making headway. US futures pointed to more gains on Friday, leaving the S&P 500 index on course for a third consecutive weekly rise. The rally was given fresh impetus yesterday by data that supported the case for Federal Reserve interest…
Read More