Market Update Week Ending 20 November 2020

Global equity markets stabilized last week following further positive news about possible coronavirus vaccines.  Moderna became the second company to reveal positive results with nearly 95% protection in trials.  This followed the announcement by Pfizer and Germany’s BioNTech that their vaccine was found to be more than 90% effective.

Weekly performance up to 20 November 2020
FTSE 100 (UK) +0.6%
Dow 30 (US) -0.7%
Euro Stoxx 50 (Europe) +1.0%
Nikkei 225 (Japan) +0.6%

In terms of £ Sterling, it closed the week (to 20 November), at 1.33 US Dollars, which was 0.7% higher than the figure at the end of the previous week (13 November).

Against the Euro, £ Sterling closed on 20 November at 1.12 Euros, which was 0.5% higher than the closing figure on 13 November.

Last week, we had updated inflation, as measured by the Consumer Prices Index including owner occupiers’ housing costs (CPIH), figures.  It was 0.9% in October 2020 (this is October’s data which is reported in November).  This was up from 0.7% in the previous month with clothing, food and furniture, furnishings and carpets 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 0.7% in October, up from 0.5% in September.

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:  Vaccine rally loses steam

UK:  Consumer spending rises unexpectedly in October

US:  Retail sales slow in October

Europe: Relief package delayed

Japan: Economic growth beats expectations


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