D-PIMS Weekly Market Update - Week of 26th to 2nd September 2019
Today’s Weekly Update:
In the last week’s financial news Trade and Brexit seemed to dominate, for a change! :-
• On Monday Trade tensions eased, with Trump making more positive comments about China and appearing to agree to further talks in September – this was later confirmed by China.
• Tuesday in the UK, opposition parties agreed to work together and aim to pass laws requiring the Prime Minister to seek a further delay to the Brexit deadline, from the EU. This is their attempt to block a no deal Brexit. The PM said they were working against the UK by taking away its only bargaining chip.
• On Wednesday, in an apparent counter measure against the oppositions plotting, the PM announced that the Queen had approved an extended Parliamentary closure (it was already due to close for the Party Conference Season). It will close at some point between the 9th and 12th of September and re-open after the Queen’s speech on the 14th October which precedes the opening of a new Parliament – just over two weeks before the UK is due to leave the EU.
• Thursday saw China confirm a scheduled meeting in September for Trade talks with the US. This put some further cheer into the Stockmarket. Since then, the planned 1st September tariffs have come into effect without postponement and further tariffs have been proposed from both the US and China.
• Over the last week, the pound has been falling, but Stockmarkets were generally up and this helped the main D-PIMS Portfolios to advance.
• With limited time left before the suspension, the upcoming votes this week in Parliament could see anything happen. From opposition MPs taking control and passing laws to delay Brexit (again!), to a General Election being called. There is also another court ruling in Scotland on whether the upcoming suspension is legal, or not. The Pound will probably be having another bumpy ride this week!
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.