Coronavirus Update

19th March 2021

Weekly Round Up

The Federal Reserve and the Bank of England are both taking the same stance on interest rate policy, in the UK rates are on hold at 0.1%. This came as a relief to investors who looked to be on edge earlier in the week, anticipating an interest rate rise.

London markets reacted well, the FTSE 100 and FTSE 250 closed 0.3% up and 0.1% respectively on Thursday evening. 

Markets across Europe were higher following the Federal Reserve statement, despite vaccine rates slowing down and Covid-19 cases surging in some regions.

German automotive manufacturer VW announced ambitious plans to become fully electric by 2025, boosting their share price by 20% (Monday open to Thursday close).

There was positive news for the AstraZeneca vaccine, following the safety backing announcement. The CAC 40 gained 0.1%, while shares in Milan were up 0.3%.

Oil prices have declined consistently this week, now trading at $63.4 per barrel.

 

Risers

Henry Boot, the British construction and property development business, was one of the largest risers this week showing +7% growth. This follows their announcement of a significant urban development project in Sheffield.

Fallers

British producer of premium drink mixers, Fevertree Drinks plc, slipped 12% following their poor results released on Thursday. Their sales in bars and restaurants were disrupted by the pandemic, with retail sales offsetting some of those losses.