Omnis Market Update

A generally positive week for stock markets globally, except for Asia, driven by positive investor sentiment. Investors continue to keep a watchful eye on inflation. In the UK, a weaker pound drives markets higher and England enter the second phase of its roadmap to easing lockdown.

US: Investors positive sentiment drives markets higher

The S&P 500 was up 2.8%, with technology, casinos and cruise line shares performing strongly. Energy stocks lagged as Brent ended the week down at USD 63.0 per barrel. Economic data was mostly positive during the week.

Asia: Most indices end the week lower

The CSI 300 fell 2.4% and the Shanghai Composite Index shed 1.0%. Higher inflation data weighed on sentiment and outweighed positive corporate earnings. Economic data however has been encouraging. Japan’s indices were also down during the week.

Europe: Mixed gains, stronger Euro and vaccine challenges

Individual Stock markets were mixed but the EuroStoxx 50 was up 0.9% on hopes of an economic recovery. The euro was stronger ending the week at 1.19 USD per EUR. Germany has begun negotiations with Russia to purchase the Sputnik V vaccine.

UK: More than half of adult population has received first dose

The FTSE 100 was up 2.7%, partly owing to a weaker British Pound which fell to 1.37 USD per GBP. The FTSE 250 returned 2.5%. Data showed UK construction grew the most since 2014. England moves to the second phase of its lockdown exit roadmap.

The Week Ahead

• In the UK, retail sales, industrial production and trade figures released.

• In Europe, retail sales, economic sentiment and industrial production data released.

• In the US, inflation, retail sales, employment and consumer sentiment figures released.