Coronavirus Update

18th December 2020

Weekly Roundup

As we enter into the final weeks of the calendar year, the FTSE100 has seen a relatively quiet week of trading, seeing an advance of 0.3%. The UK Government continues to be at a cross-roads with the EU as negotiations enter their final stages. The sovereignty of fishing rights is a key stumbling block with EU Commission head, Ursula von der Leyen stating it will be very challenging to bridge the differences.

With the UK set to leave the EU on December 31 with no deal yet to be agreed and the festive period seeing reduced trading volumes, the markets are trading cautiously.


Risers and Fallers

Nichols plc, the soft-drink beverage manufacturer, has seen a positive trading week, seeing the share price advance 17.7%. Nichols has been a poor performer this year due to one of its divisions being reliant on the pub and restaurant trade. The sector has started to look beyond the pandemic and Nichols has started to track some of that recovery sentiment.

Engineering group, Goodwin Plc announced on Wednesday a lower profit for the first half of the year. It identified Covid-19 uncertainties as the cause for the delay in some capital projects, seeing its share price fall 15%. Goodwin said that despite the uncertainties, its cash flow and order book remains strong at £174m as of October 31.