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D-PIMS Weekly Market Update - Week of 12th to 18th July 2021

Today’s Monday Update:

Over the course of the last week, headlines were mostly Coronavirus and economy related:

• British Prime Minister Boris Johnson urged caution on Monday as he confirmed plans to remove nearly all remaining COVID-19 restrictions in England from 19th July, despite a surge of cases to levels unseen for months. He set set out proposals to eliminate rules on mask-wearing and social contact, and the instruction to work from home, on what he has called a "one-way road to freedom". "The global pandemic is not over yet,". "Cases will rise as we unlock, so as we confirm our plans today, our message is clear. Caution is absolutely vital, and we must all take responsibility, so we don’t undo our progress."

Big businesses in Britain are rushing ahead with post-lockdown investment plans that could usher in a long-awaited improvement in the country's weak productivity growth, a survey of chief finance officers showed. Accountancy firm Deloitte, said on Monday, its poll found CFOs were planning to increase investment, as well as hiring, at the fastest pace in almost seven years and were their most aggressive about acquisitions in 11 years.

• Four weeks ago, Israel was celebrating a return to normal life in its battle with COVID-19. After a rapid vaccination drive that had driven down Coronavirus infections and deaths, Israelis had stopped wearing face masks and abandoned all social-distancing rules. Then came the more infectious Delta variant, and a surge in cases that has forced Prime Minister Naftali Bennett to reimpose some COVID-19 restrictions and rethink strategy.

• Australian authorities extended a lockdown in Sydney on Wednesday by at least 14 days, after three weeks of initial restrictions failed to stamp out the biggest outbreak of COVID-19 this year in the country's largest city. New South Wales state Premier Gladys Berejiklian said restrictions would remain in place until at least 30th July after reporting 97 new locally transmitted cases, a slight increase from a day earlier.

• Tax data on Thursday, showed the number of employees on British company payrolls surged in June by the most since the start of the Coronavirus pandemic, according to data which painted a picture of a roaring jobs market and growing inflationary pressure from rising wages.

Two thirds of people in Britain think at least some Coronavirus restrictions should stay in place after 19th July, according to an opinion poll published on Thursday. Sixty-six percent of people taking part in the poll by Kantar Public wanted some, most or all of the restrictions to remain and 60% thought everyone should continue to wear face masks in shops and on public transport. Boris Johnson has said people in England should use their own judgement about whether to use masks after 19th July.

• Over the week, the main Global Stockmarkets were split by rising markets in the Far East and falling Markets everywhere else. The D-PIMS Portfolios were mostly flat, with the higher risk Portfolios slightly down. The Portfolios were helped by their diverse allocations.

 

The value of investments and the income from them can fall as well as rise and you may not get back the original amount you invested.


Past Performance is no guarantee of, or guide to future returns.


The comments made above represent our interpretation of events and market views and are in no way a guarantee of future investment performance.

 

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