16th April 2021
Weekly Round Up
Equity markets have been broadly positive this week as the recovery from the pandemic gets under way. European and US markets are hitting all-time highs, whilst Asia-Pacific and UK markets rallied following good retail sales data, and the easing of coronavirus restrictions.
The UK broke through the 7,000-point mark for the first time since February 2020 as investors piled into value stocks featuring heavily in the UK blue-chip index. This was reflected in the gains made by financial, basic material, and industrial sectors.
US markets are reacting well to the news of unemployment claims falling by 193,000 last week. The S&P 500 index gained 1.1%, while the Nasdaq gained 1.3% on the week.
Cryptocurrency has been a popular talking point this week. The world’s largest crypto currency exchange, Coinbase, came to market, with investors valuing the company at around $80 billion.
Antofagasta, the international mining company, rose 7% this week following continued strength in the commodities markets.
Rolls Royce was volatile again this week. The engineering company was down 6% as traders looked elsewhere for short term gains and concerns over the recovery in travel markets persist.