It was a volatile week for global equity markets with rising coronavirus cases in countries like India causing concerns as well as Joe Biden’s proposed capital gains tax rises in the United States.  All of the major global equity markets fell.

Weekly performance up to 23 April 2021
FTSE 100 (UK) -1.2%
Dow 30 (US) -0.5%
Euro Stoxx 50 (Europe) -0.5%
Nikkei 225 (Japan) -2.2%

In terms of £ Sterling, it closed the week (to 23 April), at 1.39 US Dollars, which was 0.3% higher than the figure at the end of the previous week (16 April).

Against the Euro, £ Sterling closed on 23 April at 1.15 Euros, which was down 0.6% on the closing figure on 16 April.

Last week, we had updated inflation figures, as measured by the Consumer Prices Index including owner occupiers’ housing costs (CPIH).  It was 1.0% in March 2021 (this is March’s data which is reported in April).  This was up from 0.7% in the previous month, with rising prices for motor fuels and clothing causing the largest upward contributions to the change.  The 12-month rate for the Consumer Prices Index (CPI) rate which excludes owner occupied housing costs and council tax was 0.7% in March, up from 0.4% in February.

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.


It was largely a poor week for stock markets globally, with surges in Covid-19 cases overshadowing positive economic news during the week. China was one of the few markets to post positive returns following several weeks of more challenging performance.


US: Unemployment falls to lowest level since March 2020

In the US, the S&P 500 ended the week down 0.1%. President Biden’s plan to increase Capital Gains Tax rates for the wealthy weighed on markets. Initial unemployment claims fell to the lowest level since March 2020.

Asia: Rising cases impact Japanese and Indian stock markets

Japanese stocks fell 2.2% as the government looked to tackle surging Covid-19 cases. Indian stocks also fell sharply as the country was hit by a devastating Covid-19 second wave. Chinese stocks were up led by companies posting big jumps in earnings.

Europe: Major country stock markets fall during the week

In Europe, the Euro Stoxx 50 fell 0.4% and most major country benchmarks fell. Concerns that a rising coronavirus caseload could slow the pace of the economic recovery overshadowed strong corporate earnings and positive economic data.

UK: The economy shows signs of rebounding strongly

The FTSE 100 and the domestically focused FTSE 250 were down 1.1% and 0.6% respectively. The economy is showing signs of a strong rebound as companies reported surging demand and consumers begin spending cash as lockdown measures eased.

The Week Ahead

  • In the UK, the focus will be on Covid-19 news and market sentiment
  • In Europe, GDP, inflation, and unemployment data released
  • In the US, GDP data released as the Federal Reserve meet this week

Read more here >>

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