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D-PIMS Weekly Market Update - Week of 25th to 31st October 2021

Today’s Monday Update:

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

• On Monday, London widened the area motorists with older and more polluting cars will have to pay £12.50 to drive in, as part of efforts to improve air quality. The Ultra-Low Emission Zone has already been operational in the city centre and will now apply up to the North and South Circular roads, stretching to Tottenham in the north and Brixton in the south. The charge affects petrol cars that do not meet at least Euro 4 standards, which became mandatory in 2005, and diesel cars not at Euro 6 levels or higher, in place since September 2015.

British Prime Minister Boris Johnson said on Monday it was "touch and go" whether the upcoming United Nations COP26 global climate conference will secure the agreements needed to help tackle climate change.

British Brexit minister David Frost said on Monday that the European Union's proposals to solve the problem of trade involving Northern Ireland did not go far enough and significant gaps remained between the two sides. The two sides are in negotiations to find a common solution to issues with the part of a Brexit deal that governs trade between Britain, British province Northern Ireland, and EU member Ireland.

• On Tuesday, Liz Truss announced the signing of a groundbreaking agreement with Greece. She welcomed Greek foreign minister, Nikos Dendias, for the signing of a strategic framework between the United Kingdom and the Hellenic Republic of Greece. Ms Truss, the new Foreign Secretary, explained that the deal will "deepen trade and security ties" between the UK and Greece.

London's Heathrow Airport does not expect air traffic to recover completely until at least 2026, with the number of passengers travelling through Britain's biggest airport well below pre-pandemic levels despite a pick-up in the past three months.

• On Wednesday, Delta Air Lines Chief Executive Ed Bastian said that travellers should be prepared for initial long lines when the United States lifts international travel restrictions for fully vaccinated travellers on 8th November.

Chancellor Rishi Sunak promised higher public spending as Britain's economy rebounded more strongly from the COVID-19 pandemic than previously expected, and he vowed to protect households from rising inflation. Sunak used a half-yearly budget statement on Wednesday to announce multi-billion-pound investments to help Prime Minister Boris Johnson meet his spending promises to voters and ease a cost-of-living squeeze for low-earning households. But the plan comes with a cost: Britain's official budget forecasters said the government's tax take was on course to be its biggest since the 1950s, thanks in large part to tax increases announced in March and September.

• On Thursday, Britain condemned France's "disproportionate" seizure of a British fishing boat in French waters, marking a sharp deterioration in a row over post-Brexit fishing rights that is in danger of spinning out of control.

Britain will remove the last seven countries on its Coronavirus "red list", which currently requires newly arrived travellers from these destinations to spend 10 days in hotel quarantine, transport minister Grant Shapps said on Thursday. The seven countries which will be removed from the list from 1st November are Colombia, Dominican Republic, Ecuador, Haiti, Panama, Peru and Venezuela. Britain's chief medical officers ruled that they were no longer of concern.

• British Prime Minister Boris Johnson said he will meet French President Emmanuel Macron this weekend amid a row over post-Brexit fishing rights in which France has seized a British boat and London has threatened to board French trawlers. Johnson's spokesperson said the prime minister and Macron were expected to meet on the margins of the G20 summit of the world's 20 biggest economies on Rome on Saturday and Sunday.

• Over the week, the main Global Stockmarkets were mixed, with some up and some down. The Far Eastern Markets were by far the worst performers and the US the best. All the D-PIMS Portfolios were up, especially the lower risk portfolios which were help by better Bond returns than of late. Overall 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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