Coronavirus Update

20th November 2020

Weekly Round Up

The UK FTSE100 remains relatively unchanged this week, seeing a slight improvement of 0.1% at the time of writing. The increasing positive momentum surrounding the hopes of a vaccine failed to ignite the markets above their already positive response to Pfizer and BioNTech’s announcement last week.

Although further research found up to 95% success in vulnerable ages, Covid cases continue to rise globally, failing to stimulate investor confidence by continuing to dent hopes of any early economic recovery.

Wall Street has seen a slight recovery heading into the weekend following its mid-week falls as Covid deaths passed 250,000 and jobless claims were well above estimated numbers. It has been the tech stocks that have helped lift the market from its weekly downturn, with advances by Microsoft, Apple and Alphabet as well as a 14% surge in Tesla’s share price as the electric car company was accepted into the S&P500 on Monday.

 

Risers and Fallers

Young & Co Brewery has seen a second positive week of trading following the recent half-year report announcement. It stated that the UK pub operator saw like-for-like sales reach 81% of the prior year levels in the 10 weeks to September 28.

The share price sees a further weekly rise of 13.6% off the back of last week’s positive moves of 32.6%.

The Sage Group Plc, is this week’s biggest faller among the FTSE100 constituents. The accountancy-software firm reported lower annual organic operation profit and margins in its full-year results announced on Friday. The shares fall 13.2% on the week.