Key Weekly Data Points – week commencing 22/06/2020
Daniel Casali provides a round-up of key market activity during the week of 22nd June.
Daniel Casali provides a round-up of key market activity during the week of 22nd June.
Monday 22nd
- The UK has tightened its takeover rules in order to stop companies falling victim to foreign bidders
Tuesday 23rd
- From March to May, UK factory output fell at a record pace according to CBI’s industrial trends survey. Of the 360 firms that responded to the survey between late May and mid-June, 74% had produced less in the latest three months compared to the quarter ending in March
- Japan has given the UK 6 weeks to strike a post-Brexit deal
- Wirecard, the German payment processor and financial services provide announced that €1.9 billion of cash missing from its balance sheet probably does not exist at all.
Wednesday 24th
- The automobile industry’s trade association has suggested that potentially 1 in 6 British jobs risk redundancy.
- Consultants have predicted that amongst the shifts in the commercial property market, demand for office space in skyscrapers will drop even as people begin to return to work.
- The IMF have projected global GDP growth will decline by -4.9% in 2020 but will rise 5.4% in 2021.
Thursday 25th
- According to the International Monetary Fund, Britain will have to borrow over £400bn by 2022 in order to cover coronavirus costs. Sir Robert Stheeman, the chief executive of the Debt Management Office has claimed that borrowing costs may rise if the Bank of England unwinds quantitative easing.
Friday 26th
- According the ONS, half a million UK furloughed employees have returned to work in the last two weeks.
- The IMF has said that corporate debt levels are at ‘unmanageable’ levels, which could lead to insolvencies and bankruptcies.
- The Fed has instructed banks to reduce shareholder payouts in the next few months to create a buffer for any future shocks.
Source: Bloomberg.com
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DISCLAIMER
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. While considerable care was taken to ensure the information contained within this article was accurate and up to date at the time of publication, no warranty is given as to the accuracy or completeness of the information. No liability is accepted for any errors or omissions in such information, or any action or inaction taken on the basis of this publication.
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.
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Disclaimer
This article was previously published prior to the launch of Evelyn Partners.