Over the course of this year – and well before – we have grown used to the incredible outperformance of the US technology sector. Such is the size and strength of Silicon Valley that at times US mega-cap tech stocks have accounted for most price moves in the overall stock market. But tech has been…
Back in February, tumbling oil prices were a harbinger of things to come. It became clear the world was heading for a crisis – one that would eventually force governments to shutter their economies and plunge the global economy into its deepest-ever recession on record. The economic ice age to come would severely hamper oil…
Halloween is around the corner and markets had plenty to frighten them this week. Across Europe, the second wave of infections has risen higher than the first. While new lockdown measures are less stringent this time (schools and businesses can remain open unless social distancing is impossible), shutting down social interactions, just as the service…
Indian equities have been on a roll. Since the global sell-off through the end of February and March, Indian stocks have recovered over 40%. That still leaves the Indian market down around 2% year- to-date, but compared to other emerging markets, India is faring well, outrunning China particularly over the past couple of weeks. One…
The International Monetary Fund (IMF) created considerable waves this week with mixed messages in its biannual world economic outlook. IMF economists now expect a decline in economic activity of 4.4% for 2020, with the slight increase from June’s forecast owing to better than expected growth in the second quarter of the year. The higher base…
A noticeable winter chill is in the air this week. The threat of fresh lockdown measures has become reality, with renewed restrictions coming into force not just in the UK, but across most of continental Europe as well. But unfortunately, the UK – once again – is faring particularly badly in virus terms. At the…
The US technology sector is full of winners. For years now, the growth-intensive strategies of the Silicon Valley mega-caps have driven an astonishing rise to wealth, power and influence. Taking advantage of new and uncharted territory, they have achieved a level of dominance in their various markets that we have not seen for decades. In…
It may be the hundredth time saying this, but despite the all-dominating focus on COVID, it is now also Brexit crunch time, given the UK government rejected the offer of a further extension when the lockdown ‘sabotaged’ the already tight negotiation schedule. Britain’s official transition period of EU membership still only lasts until the end…
Following the unsteadiness of September, markets have further regained their composure and continue to drift upwards. This stands in stark contrast to the flow of bad news. The White House, centre of power for the mighty US, has become a COVID hotspot, similar to many regions across Europe and the UK. Meanwhile, the Brexit negotiation…
Throughout the middle of this year, we saw an impressive bounce back in economic activity. While the global economic shutdown had frozen business and manufacturing activity, the opening-up into the summer months suggested we may be on course for a sharp V-shaped recovery. Purchasing Managers’ Indices (PMIs) – a survey-based measure of business confidence –…