Coronavirus Update

27th November 2020

Weekly Round up

The FTSE 100 has seen another relatively flat trading week, marginally lower than a week ago. After a 1.6% increase on Wednesday, the index dropped after concerns about the veracity of the recent vaccine data. AstraZeneca has announced that it is likely to run an additional vaccine trial after acknowledging a manufacturing error in its recent late-stage study. Wall Street, on the other hand, has seen a positive rise this week with the Dow Jones topping the 30,000 mark for the first time in history as investor confidence increased amid hopes for a vaccine and the smooth transition in the presidency. The US markets were closed for trading on Friday for Thanksgiving holiday.

 

Risers and Fallers

 
In a relatively flat market, Glencore is the biggest riser this week, with a weekly rise of 10%. AVEVA Group Plc issued the stated 125m shares as part of their rights issue to raise capital to fund part of the acquisition of US firm, OSIsoft. With the new shares issued at £22.50, the averaging of the share price brings the price down 21.3% on the week.