Last week the new Omicron variant continued to impact markets, as new data began to emerge on its impact and spread around the world. Germany and Austria moved last week to place further restrictions on unvaccinated people, while in the US President Biden ordered tighter restrictions
Last week a new COVID-19 variant emerged, weakening markets, as investors were reminded just how tenuous the global recovery could be. The new variant, named B.1.1529 but dubbed ‘Omicron’ by the World Health Organization, first appeared in Southern Africa. There are concerns it could be substantially
Despite strong retail sales in the UK, the FTSE 100 struggled over the last week. Retail sales volumes rose by 0.8% in October in the UK compared to September. October sales were also up 5.8% compared to the pre-pandemic February 2020 levels. The month-on-month increase would
Market growth stalled last week, as continuing US inflation began to dent market confidence. Last week, US government figures revealed headline inflation hit 6.2%, the highest rate in 30 years. The high rate of inflation can be attributed to several factors – increasing energy costs, stretched supply
Global equity markets generally rose last week, as investors processed the US Federal Reserve’s plans to begin tapering its economic support, while the Bank of England (BoE) unexpectedly chose not to raise rates. It was widely predicted that the BoE would raise interest rates at its
Global markets were pushed up further last week by ongoing strong results, although there was a sting at the end of the tail. Specifically, Apple and Amazon both warned that supply constraints were slowing their growth on Thursday. In the case of Apple, the iPhone maker
Global markets continued their recovery last week, even as the Bank of England suggested an announcement of increasing UK interest rates could happen in the next two weeks. In the UK, inflation dropped to 3.1% in September, compared to 3.2% in August. However last week
Investor fears around supply constraints, and inflation worries, were eased by a series of strong results posted last week exceeding market forecasts . The recovery was further aided by a bounce back from last week’s tough trading period. On Thursday, the S&P 500 and Nasdaq both
The ongoing fuel crisis, fears around inflation, slowing growth, worries around the Chinese property market and hardening language from central banks about their plans all combined over the past week to help push down global markets. In the US, there was the added pressure caused by
Fears around wider fallout from the crisis engulfing Chinese property developer Evergrande brought global shares down last Monday. The S&P 500, for example, experienced its worst fall since May, as investors weighed up the chances of another Lehman Brothers-style crash, this time focused on the large
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