Daniel Casali provides a round-up of key market activity during the week of 13th April.
- Last week saw the FTSE250 record its biggest weekly gain in 36 years (+16.37%)
- Opec and its allies signed a deal on Sunday to cut almost 10% of global supplies, in an attempt to support the price of oil
- Over $2bn of high-yield debt was raised as investors showed a renewed willingness to lend to junk-rated issues following steps taken by the Fed
- More than 16,000 deaths were recorded in England and Wales in the first week of April, the highest total in at least 15 years
- US industrial output had its biggest drop since 1946
- US retail sales fell by 8.7% in March, the biggest one-month decline with 1992
- The IMF has suggested that net public debt will rise from 69.4% to 85.3% of national income in 2020
- Another 5.2m Americans registered for unemployment benefits last week, bringing the total of first-time applicants to 22m
- Lockdown in the UK is to be extended for at least another 3 weeks
- The US rescue fund for small businesses ran out of cash after allocating all of its $350bn
- China’s economy shrunk for the first time in 4 decades, with first quarter GDP falling 6.8%
- A quarter of companies in Britain have been forced to close down temporarily because of the government’s coronavirus containment measures, according to the Office for National Statistics
- Wuhan have added 1,290 fatalities to the coronavirus death toll after checking online data against information gathered in person
Please remember investment involves risk. The value of investments and the income from them can fall as well as rise and investors may not receive back the original amount invested. Past performance is not a guide to future performance.
Government and tax legislation is that prevailing at the time, is subject to change without notice and depends on individual circumstances. Clients should always seek appropriate tax advice from their financial adviser before making financial decisions.
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.
Note to editors
Smith & Williamson Investment Management LLP is part of the Tilney Smith & Williamson group.
Smith & Williamson Investment Management LLP is authorised and regulated by the Financial Conduct Authority.
© Tilney Smith & Williamson Limited 2020