Market Update Week Ending 4 December 2020

It was another record-breaking week for some global equity markets.  Close to home, the FTSE 100 ended the week at its highest level since March this year.  While in the United States, the three major equity markets – Dow Jones 30, S&P 500 and Nasdaq – all recorded intra-day and closing highs on Friday.

Weekly performance up to 4 December 2020
FTSE 100 (UK) +2.9%
Dow 30 (US) +1.0%
Euro Stoxx 50 (Europe) +0.3%
Nikkei 225 (Japan) +0.4%

In terms of £ Sterling, it closed the week (to 4 December), at 1.34 US Dollars, which was 0.9% higher than the figure at the end of the previous week (27 November).

Against the Euro, £ Sterling closed on 4 December at 1.11 Euros, which was 0.4% lower than the closing figure on 27 November.

Inflation, as measured by the Consumer Prices Index including owner occupiers’ housing costs (CPIH), 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.

OMNIS INVESTMENT MARKET UPDATE – 7TH DECEMBER:

PROSPECT OF FURTHER ECONOMIC SUPPORT AND RISING OIL PRICES BOOST US SHARES

US: Shares hit record high

UK: Vaccine approval buoys shares

Europe: Customer spending rises in October

Japan: Customer spending recovers in October

Commodities: Oil prices rise despite plans for higher output

Read more >>

At Money & Mortgages, our team are working and available during the coronavirus lockdown and we’re happy to arrange video meetings and phone appointments.  For more information please contact us on 0161 505 0601 or via email info@moneymortgages.co.uk

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