Asset prices have rallied sharply off their lows in recent days as a result of the massive economic support packages that have been put in place by governments and central banks around the world. The pace of formulation and enactment … More
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The MSCI UK All Cap NR index returned +0.9% during the three months to the end of September, underperforming the MSCI World ex UK (£) NR index which returned +4.0% in Sterling terms and +1.6% in local currency. The relative … More
During the three month period to the end of March, Sterling strengthened somewhat from its oversold position against the US Dollar. As expected, the UK government triggered Article 50 at the end of March, thus starting the formal process for … More
Investor reaction to Trump’s success in the US Presidential election has been remarkable. The US equity market (as well as the US Dollar) has risen strongly as investors anticipate the success of a switch away from extraordinary monetary policy towards … More
During the three month period to the end of October, Sterling weakened still further following the surprise ‘Leave’ result in the UK’s European Union referendum in June and confirmation that the government was looking to trigger Article 50 before the … More
During the three month period to the end of September, Sterling weakened still further following the surprise ‘Leave’ result in the UK’s European Union referendum in June. Generally, UK listed companies with significant overseas earnings made good gains and those … More
During the three month period to the end of August, Sterling fell sharply following the surprise ‘Leave’ result in the UK’s European Union referendum. As a result, for the UK based investor, all major asset classes performed strongly. Generally, UK … More
THE THREE MONTHS to the end of January have been extremely volatile as investors grappled with conflicting messages. Some dared to believe that the first interest rate rise in the US for nearly ten years was a signal that the Federal Reserve believed that the … More
EQUITIES PERFORMED STRONGLY during the three months to the end of November, clawing back some of the market losses witnessed over the summer as the Chinese authorities cut interest rates again and policy makers in Europe and Japan hinted at renewed quantitative easing to counter … More
EQUITIES PERFORMED STRONGLY during October, clawing back some of the losses witnessed earlier in the three-month period under review, as policy makers in Europe and Japan hinted at renewed quantitative easing to counter the global slowdown in economic activity and the Chinese authorities cut interest rates … More
THE UK STOCK MARKET generated a negative return of 5.7% (FTSE All-Share Index) during the third quarter, marginally underperforming the FTSE World ex UK (£) Index which produced a negative return of 5.3%. In Sterling terms, the S&P500 Index (-2.9%) was the best performing regional … More
THE UK STOCK MARKET generated a negative return of 8.6% (FTSE All-Share Index) during the three month period to the end of August, marginally underperforming the FTSE World ex UK (£) Index which produced a negative return of 8.2%. In Sterling terms, the S&P500 was … More