Well is the jolly blond giant reorganising his team in order to make good on his election promises or has he become a bit of a megalomaniac. Of course, you could be of the view that we have a new Prime Minister in the shape of Mr Cummings. In any event the one thing we know for sure is that only two chancellors have resigned the other being Nigel Lawson who also resigned over an argument with the sainted Margaret over advisers; in that case her economic adviser Sir Alan Walters. By the way did you know that the new Chancellor is a Southampton boy. Quick competition, what local school did he go to. Prize this time for the first correct answer plus another for the first correct from the posted musings. The prize, lunch at the Limewood Hotel with me, plus a guest of your choice, not your spouse or another Straight Talk client.
On reading some of my previous musings I realised that I have been guilty of what I accuse the daily news shows of. They say for example that the FTSE100 is up 5% rom yesterday. What they do not do is say what happened yesterday, in other words if the FTSEE100 had fallen 20% yesterday, the 5% growth today looks a little different. From this week onwards I will give the position of each index compared to where it was at the be beginning of the year.
So to the Markets
Despite the ongoing concerns over the Corona virus and the way we have been re-chancellored, is that English? except for the FTSE100 and the NIKKEI which fell slightly, the markets have had a reasonable week. But as I said above, we need to look at the results since the beginning of the year.
|January 2nd||February 17th|
|FTSE 100||7604||7409||Down 2.63%|
|DOW JONES||28584||29398||Up 2.77%|
|S&P 500||3261||3380||Up 3.64%|
|HANG SENG||28543||27815||Down 2.62%|
|CAC 40||6037||6069||Up 0.53%|