Coronavirus Update

4th June 2021

Weekly Roundup

European and US markets have seen another volatile trading week.

The US NASDAQ and S&P500 both saw a negative week down 1.3% and 0.2%  at the close on Thursday, however recovery at the open on Friday, saw the NASDAQ gain +1.5% and S&P500 0.62% on the week.

Vaccine rollout remains successful in both the US and UK with 75% of adults now having received one dose and 50% fully vaccinated.

As the success of the programmes continues and industries begin to re-open, inflation remains the primary concern for investors amidst further central banks economic stimulus policies.

Several US tech stocks retreated on Thursday as President Biden announced a ban of investment into 59 Chinese defence and surveillance technology companies, including tech giant, Huawei -although these initial negative movements have seen a turnaround at the open on Friday, with the likes of Apple and Alphabet moving into positive weekly territory.

Risers

BP is the biggest riser in the FTSE100 in what has been a relatively flat trading week. The oil and gas giant sees a +5.2% rise as crude oil prices continue to rise. 

Fallers

B&M European Value Retail sees a -7.3% fall this week as the convenience retailer announced its anticipation for lower like-for-like revenue moving into fiscal year 2022.

‌‌