Coronavirus Update

12th February 2021

Weekly Round Up

Global equity markets have seen a relatively mild trading week. The recent rally in commodities is now showing signs of stalling. The FTSE 100 remains relatively unchanged through the week, despite the news that the UK economy fell 9.9% in 2020, the largest drop in 300 years, and double the fall during the financial crisis.

Inflation indicators remain relatively stable, however there is evidence that supply chain congestion could start to become an issue later in the year. If normal activity resumes throughout the year, demand could outstrip supply leading to increased prices.

US equity markets have shown marginal gains on the week, with the NASDAQ up +0.5%. Investors continue to digest President Biden's $1.5 trillion stimulus package and its impact on capital markets.

 

Risers

Pressure Technologies Plc is among this week's biggest risers; its share price sees a weekly rise of +19.84%. The specialist engineering group announced a major contract win with Haskey Hydrogen Group, part of Ingersol Rand Inc. The UK-based company will be supplying high-pressured steel vessels for hydrogen storage.

Fallers

Ted Baker Plc's share price has seen a weekly fall of 11.4%. This follows the fashion brand reporting their Q4 revenue fell 47% year-on-year due to the continued disruption coronavirus has brought to the business.