Market Update Week Ending 13 November 2020

Last week was very positive for global equity markets following great news about a possible coronavirus vaccine.  The vaccine being developed by Pfizer and Germany’s BioNTech has been found to be more than 90% effective, in a breakthrough that could make the shot available for use by the end of the year if drug authorities give it the green light.

Weekly performance up to 13 November 2020
FTSE 100 (UK) +6.9%
Dow 30 (US) +4.1%
Euro Stoxx 50 (Europe) +7.1%
Nikkei 225 (Japan) +4.4%

In terms of £ Sterling, it closed the week (to 13 November), at 1.32 US Dollars, which was 0.2% higher than the figure at the end of the previous week (6 November).

Against the Euro, £ Sterling closed on 13 November at 1.11 Euros, which was 0.6% higher than the closing figure on 6 November.

Inflation, as measured by the Consumer Prices Index including owner occupiers’ housing costs (CPIH), was 0.7% in September 2020 (this is September’s data which is reported in October).  This was up from 0.5% in the previous month with transport costs, and restaurant and café prices, following the end of the Eat Out to Help Out scheme, making the largest upward contributions.  The 12-month rate for the Consumer Prices Index (CPI) rate which excludes owner occupied housing costs and council tax was 0.5% in September, up from 0.2% in August.

There were no further changes to the Bank of England base rate last week following the two previous cuts in March.  The current rate remains at 0.1%.

The Omnis Managed funds, Openwork Graphene Model Portfolios and Omnis Managed Portfolio Service provide you with a diversified asset allocation in line with your Attitude to Risk, investing in Developed Market Equities, such as UK, US, Europe and Asia Pacific as well as Emerging Market equities.  Cautious and Balanced investors will also have significant holdings in UK and Global Bonds, as well as Alternative Strategies.

We believe this multi-asset approach aims to minimise global equity market falls in volatile periods.  Past performance is not a guide to future performance.  The value of an investment and any income from it can fall as well as rise as a result of market and currency fluctuations.  You may not get back the amount you originally invested.



Markets:  More certain outlook lifts shares
UK:  Pound falls despite record growth
US:  Inflation flat in October
Commodities: Optimism about rising demand boosts oil prices


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