Weekly Round Up
The UK FTSE 100 changed little over the course of the week, hovering around the 7000 level. This was despite strong results from both Unilever, Lloyds and BP through the course of the week, suggesting the bar has been set quite high on earnings expectations with good news already priced in.
There were strong results this week from the major US tech stocks, with Apple, Facebook, and Amazon among some of the biggest names posting very positive results driving US market increases. The S&P 500 and Dow Jones both hit more all-time highs with the NASDAQ finishing up on the week.
Sadly, there has been little relief from India’s second Covid-19 surge. Cases reached 18 million on Wednesday as the country struggles to keep up with demand for oxygen. The country recorded the largest ever number of Covid deaths in one day on Wednesday, with vaccinations remaining the only real global exit strategy from the pandemic.
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