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Read moreMonday Musings 10/02/2020
I always thought that Corona was a soft drink or a manufacturer of beer, both of which I have enjoyed at different times in my life, latterly the beer not the lemonade. Some of you may remember that the soft drink, was delivered to the door in glass bottles and boasted that every bubble has passed its physical. Ironically Corona’s door to door service was killed by the supermarkets which in turn are being killed by the new door to door delivery. These days of course Corona has a totally different image as the virus from China.
Anyway, back to the point. In 2003 when the Sars epidemic hit, China generated about 8% of world Gross Domestic Product whereas today it is closer to 20%. China produces kit for companies throughout the world which means that its current strategy for dealing with the Corona Virus is hitting supply chains of a huge range of companies from luxury brands such as Burberry, Canada Goose and Estee Lauder to car manufacturers. It must be said this disruption will be short lived in real terms, but it may well force large companies to examine their supply chains and look elsewhere rather than China.
As far as the markets are concerned even though there was a fall on Friday, over the week, with the exception of China, markets had a good week on the back of strong economic data with the USA leading the way in the wake of the Trumps acquittal and good employment figures. As you might expect the Shanghai was down nearly 4% with somewhat ironically the Hang Seng up just over 4%.
So, to the numbers.
Market movements of the week
FTSE 100 up 2.48%
DOW JONES up 3.00%
NASDAQ up 4.04%
S&P 500 up 3.17%
NIKKEI up 2.68%
HANG SENG up 4.15%
SHANGHAI down 3.38%
CAC 40 up 3.85%
DAX up 4.10% fffffffffff
I had a strange encounter on Facebook this week (sounds silly, bear with me…). A new mum put a post up on a local group asking for help. She said.
Read moreAs I’m sure is the case for you, I’ve been watching the coverage of the Israel – Hamas war with horror. The loss of innocent civilian lives, the impact of.
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