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Good morning, this is Jeremy Deedes of Planning for Life, life and financial planning consultants from Helmsley, North Yorkshire.
This is my market perspective for Monday 25th April 2011
Highlight of last week
Shortened week, but key points:
S&P threatened downgrade of US debt - rising debt, political inability to deal with it
Bank of China tightened liquidity by increasing banks required reserves for the fourth time this year
Greek debt rescheduling marched inexorably closer
Earnings reports turned more favourable after a shaky start last week
US housing improved, whilst US manufacturing stalled a little, but is still on an upward trend
Apple posted record 2Q revenue of $24.7 billion and record 2Q profits of nearly $6bn on sales of Macs, ipods and ipads.
Earnings news lifted markets after the sharp falls at the start of the week:
Europe +1.5% but UK only managed +.5%
Little economic data meant investors could focus on favourable US earnings which pulled the markets up. Companies finding ways of maintaining and improving profits, even if the recovery is still bumpy. Investors became less risk averse, leading to a fall in the US$.
This week - market moving events
may be a short week this week in the UK, but a mass of market moving data to come this week:
FOMC announcement and press conference
Bank of Japan meeting
Advance estimates of UK and US 1Q GDP
Please note that nothing in this commentary should be regarded as advice. Planning for Life cannot be held responsible for the outcome of any action taken based on this commentary if advice has not been sought beforehand. You should contact Planning for Life on 01439 770 105 or through our website, www.planningforlife.org, or your professional advisers, before taking any action relating to your personal finances.
Planning for Life is authorised and regulated by the Financial Services Authority; our number is 448184.
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