It was a mixed week for markets globally. Most markets fell at the start of the week, but many recovered those losses. The spread of the delta variant and the likelihood that growth is slowing has impacted markets, but we saw some positive economic data coming out of Europe and some optimism return in the US as companies reported earnings.
Last week’s performance – major stock markets
|Euro Stoxx 50||+1.82%|
http://skywaysmedia.co.uk/video/mvis-photo-promo/ US: Stocks rebound from sharp sell-off
US. Stocks ended the week higher, rebounding from a sell-off on Monday. Monday’s declines were likely due to the spready of the delta variant of coronavirus and the impact it would have on the economy. By Tuesday markets had recovered. Many companies reported their earnings for the Apr-Jun 2021, which helped boost investor confidence
buy modafinil sun pharma Japan: Olympics begin amongst COVID-19 concerns
Japan’s stock markets closed in negative territory on Wednesday, ahead of a long weekend that marked the start of the Tokyo Olympics, amid concerns it could worsen the country’s COVID-19 outbreak. Exports rose by almost 50% in June from a year earlier. US demand for cars and chipmaking equipment exports to China helped exports.
Vavatenina China: No major economic readings in a mixed week for markets
Chinese stocks recorded a mixed week. The large-cap CSI 300 Index declined 0.1%. No major economic readings were released over the week.
Europe: Shares rise as optimism improves
Shares in Europe rose on the European Central Bank’s reaffirmation of its low-interest-rate policies and optimism about the upcoming corporate earnings season. This helped to reverse early weakness stemming from fears that the spread of the delta variant of the coronavirus could delay a global economic recovery. Economic data suggested that the European economy continues to expand.
UK: ‘Pingdemic’ and Brexit in focus
The FTSE 100 and the FTSE 250 rose 0.28% and 1.85% respectively. Covid-19 cases continued to climb and labour shortages were exacerbated by the so called ‘pingdemic’. Meanwhile, travel companies and airlines reported a surge in bookings for holidays abroad. The UK government seeks to renegotiate part of the Brexit agreement on the checks required at the Irish Sea.