Market Monitor - 29 October 2021
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Market Monitor – 29 October 2021

Global stock markets have enjoyed a largely positive week, with shares in the US and Europe boosted by solid company earnings reports and easing fears of a coronavirus resurgence.
There are also signs that the recent surge in oil prices, which has helped keep inflation levels high across much of the world, may be starting to wane. News that sanctions against Iran could soon be lifted has given traders hope that the country’s oil may come back online, boosting global supply. Meanwhile, reports from the US suggest the country’s crude stockpiles are higher than previously thought.

US markets

On Wall Street, the Dow Jones Industrial Average ended trading on Thursday 28 October 0.1% up for the week so far, with the S&P 500 closing 1% higher. US tech stocks have performed particularly well this week: shares in electric vehicle maker Tesla were up ahead of the COP26 climate change summit in Glasgow in November, while strong earnings reports from Microsoft and Google owner Alphabet helped drive the sector higher.
Weaker-than-expect US growth figures for the third quarter of 2021 helped to allay fears of an imminent tightening of monetary policy. But some big American manufacturers including General Motors and 3M continue to complain of supply-chain problems which threaten to hold the recovery back in the months ahead.

The UK

In the UK, the FTSE 100 closed on Thursday 28 October 0.6% up for the week. Rishi Sunak’s Autumn budget and spending review was the financial highlight of the week: the chancellor offered some good news on post-pandemic growth and the public finances, but voters will probably have to wait until near the end of the current parliament in 2024-25 for any significant tax cuts. Shares in Britain’s hospitality businesses, however, rose on Sunak’s announcement of an ongoing business rates discount as well as a reduction on duty on beer and cider served on draught in the nation’s pubs.
The Office for Budget Responsibility said the long-term impact of the pandemic on the UK economy was likely to be less severe than originally forecast, but it noted that Britain’s departure from the European Union was set to reduce GDP by around 4%.
Meanwhile, signs that coronavirus infection rates are starting to level off gave UK travel firms a boost: they are keen to avoid any return to international restrictions this winter. However, shares in Shell fell after the oil company provided a below-par trading update, and activist investor Third Point called for the business to be broken up.

Europe

In Frankfurt, the DAX index ended Thursday 28 October up 1% for the week, a gain that was matched by France’s CAC 40. The European Central Bank said it would keep monetary policy unchanged for now, despite rising inflation across the eurozone.
French aircraft manufacturer Airbus saw its shares rise 3% following a positive trading update – the firm said it has managed to remove some of the supply chain obstacles that hampered production earlier in the year. In Germany, however, Volkswagen reported that its operations were still being affected by the global shortage of computer chips.

Asia

In Asia, the Hang Seng index in Hong Kong slumped 2.2% while Japan’s Nikkei 225 index of leading shares edged 0.1% ahead during a challenging week. Investors are growing increasingly concerned about China’s property sector, with more developers looking likely to miss debt repayments following the recent difficulties at Evergrande.
October 22
October 28
Change (%)
FTSE 100
7204.6
7249.5
0.6
FTSE All-share
4108.9
4137.5
0.7
S&P 500
4544.9
4596.4
1.1
Dow Jones
35677.0
35730.5
0.1
DAX
15543.0
15696.3
1.0
CAC 40
6733.7
6804.2
1.0
ACWI
742.3
747.0
0.6
Hong Kong Hang Seng
26126.9
25555.7
-2.2
Nikkei 225
28804.9
28820.1
0.1

Note: all market data contained within the article is sourced from Bloomberg unless stated otherwise, data as at 28/10/2021.

29 十月 2021
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Market Monitor – 29 October 2021

Important information

For marketing purposes.

This document is intended for informational purposes only and should not be considered representative of any particular investment. This should not be considered an offer or solicitation to buy or sell any securities or other financial instruments, or to provide investment advice or services. Investing involves risk including the risk of loss of principal. Your capital is at risk.  Market risk may affect a single issuer, sector of the economy, industry or the market as a whole. The value of investments is not guaranteed, and therefore an investor may not get back the amount invested. International investing involves certain risks and volatility due to potential political, economic or currency fluctuations and different financial and accounting standards. The securities included herein are for illustrative purposes only, subject to change and should not be construed as a recommendation to buy or sell. Securities discussed may or may not prove profitable. The views expressed are as of the date given, may change as market or other conditions change and may differ from views expressed by other Columbia Threadneedle Investments (Columbia Threadneedle) associates or affiliates. Actual investments or investment decisions made by Columbia Threadneedle and its affiliates, whether for its own account or on behalf of clients, may not necessarily reflect the views expressed. This information is not intended to provide investment advice and does not take into consideration individual investor circumstances. Investment decisions should always be made based on an investor’s specific financial needs, objectives, goals, time horizon and risk tolerance. Asset classes described may not be suitable for all investors. Past performance does not guarantee future results, and no forecast should be considered a guarantee either. Information and opinions provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. This document and its contents have not been reviewed by any regulatory authority.

In the UK: issued by Threadneedle Asset Management Limited, registered in England and Wales, No. 573204. Registered Office: Cannon Place, 78 Cannon Street, London EC4N 6AG. Authorised and regulated in the UK by the Financial Conduct Authority.

In Australia: Issued by Threadneedle Investments Singapore (Pte.) Limited [“TIS”], ARBN 600 027 414. TIS is exempt from the requirement to hold an Australian financial services licence under the Corporations Act and relies on Class Order 03/1102 in marketing and providing financial services to Australian wholesale clients as defined in Section 761G of the Corporations Act 2001. TIS is regulated in Singapore (Registration number: 201101559W) by the Monetary Authority of Singapore under the Securities and Futures Act (Chapter 289), which differ from Australian laws.

In Singapore: Issued by Threadneedle Investments Singapore (Pte.) Limited, 3 Killiney Road, #07-07, Winsland House 1, Singapore 239519, which is regulated in Singapore by the Monetary Authority of Singapore under the Securities and Futures Act (Chapter 289). Registration number: 201101559W. This advertisement has not been reviewed by the Monetary Authority of Singapore.

In Hong Kong: Issued by Threadneedle Portfolio Services Hong Kong Limited 天利投資管理香港有限公司. Unit 3004, Two Exchange Square, 8 Connaught Place, Hong Kong, which is licensed by the Securities and Futures Commission (“SFC”) to conduct Type 1 regulated activities (CE:AQA779). Registered in Hong Kong under the Companies Ordinance (Chapter 622), No. 1173058.

Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies.

 

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Important information

For marketing purposes.

This document is intended for informational purposes only and should not be considered representative of any particular investment. This should not be considered an offer or solicitation to buy or sell any securities or other financial instruments, or to provide investment advice or services. Investing involves risk including the risk of loss of principal. Your capital is at risk.  Market risk may affect a single issuer, sector of the economy, industry or the market as a whole. The value of investments is not guaranteed, and therefore an investor may not get back the amount invested. International investing involves certain risks and volatility due to potential political, economic or currency fluctuations and different financial and accounting standards. The securities included herein are for illustrative purposes only, subject to change and should not be construed as a recommendation to buy or sell. Securities discussed may or may not prove profitable. The views expressed are as of the date given, may change as market or other conditions change and may differ from views expressed by other Columbia Threadneedle Investments (Columbia Threadneedle) associates or affiliates. Actual investments or investment decisions made by Columbia Threadneedle and its affiliates, whether for its own account or on behalf of clients, may not necessarily reflect the views expressed. This information is not intended to provide investment advice and does not take into consideration individual investor circumstances. Investment decisions should always be made based on an investor’s specific financial needs, objectives, goals, time horizon and risk tolerance. Asset classes described may not be suitable for all investors. Past performance does not guarantee future results, and no forecast should be considered a guarantee either. Information and opinions provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. This document and its contents have not been reviewed by any regulatory authority.

In the UK: issued by Threadneedle Asset Management Limited, registered in England and Wales, No. 573204. Registered Office: Cannon Place, 78 Cannon Street, London EC4N 6AG. Authorised and regulated in the UK by the Financial Conduct Authority.

In Australia: Issued by Threadneedle Investments Singapore (Pte.) Limited [“TIS”], ARBN 600 027 414. TIS is exempt from the requirement to hold an Australian financial services licence under the Corporations Act and relies on Class Order 03/1102 in marketing and providing financial services to Australian wholesale clients as defined in Section 761G of the Corporations Act 2001. TIS is regulated in Singapore (Registration number: 201101559W) by the Monetary Authority of Singapore under the Securities and Futures Act (Chapter 289), which differ from Australian laws.

In Singapore: Issued by Threadneedle Investments Singapore (Pte.) Limited, 3 Killiney Road, #07-07, Winsland House 1, Singapore 239519, which is regulated in Singapore by the Monetary Authority of Singapore under the Securities and Futures Act (Chapter 289). Registration number: 201101559W. This advertisement has not been reviewed by the Monetary Authority of Singapore.

In Hong Kong: Issued by Threadneedle Portfolio Services Hong Kong Limited 天利投資管理香港有限公司. Unit 3004, Two Exchange Square, 8 Connaught Place, Hong Kong, which is licensed by the Securities and Futures Commission (“SFC”) to conduct Type 1 regulated activities (CE:AQA779). Registered in Hong Kong under the Companies Ordinance (Chapter 622), No. 1173058.

Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies.

 

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