Coronavirus Update

26th February 2021

Weekly Round Up

Global equity markets dropped on the week led by technology stocks. There are concerns that rising long-term interest rates are impacting equity markets.

Monday saw the beginning of the sell-off with electric vehicle and clean energy company Tesla down 8% and multi-national technology organisation, Apple down 3%. The sell-off comes as markets show increasing inflation fears as the 10-year US Treasury Bond yield continues to climb, up to 1.36% early this week.

UK markets have seen traction build following the Prime Minister's announcement of the UK's lockdown plan. Trading was higher on Wednesday with surges in travel and oil stocks as the UK prepares for the easing of lockdown. However, markets failed to hold onto those gains into Friday as the tech sell-off continued.

The FTSE100 was down 0.36% at the time of writing.

Risers

The share price of International Consolidated Airlines Group SA rose 22.89% on the week. The rise followed the Government's announcement on gradually lifting England's lockdown restrictions.

Fallers

Scottish Mortgage Investment Trust is among the fallers this week. The investment trust, which is heavily invested in technology stocks, saw its price fall as the tech sell-off in the US continued. Its share price fell 15% on the week; prior to this it had seen more than 135% of gains over the last 12 months.