The words I am writing today are not those that I thought they would be, I thought that I would be talking about the American election and the impact of a Biden or Trump victory. Although this is an important topic, it is clearly overshadowed by the latest decision to put in place a lockdown across the UK.
Like many small and medium sized companies, the lockdown will have an impact on Straight Talk. Where we are fortunate is that we have a plan in place covering how we continue to deliver the service you quite rightly expect when there seems little chance that we will all be working during the lockdown period. Please rest assured that the team and I will be doing all we can to maintain the service during this difficult time.
I hope that you can get through the next month or so in safety and look forward to the resumption of “business as usual” soon.
As this is meant to be a weekly market commentary I had better talk about the negative impact of the Pandemic. As you might have guessed the biggest falls have been in the USA with all three index’s having dropped. This is no doubt a combination of the chaotic election campaigning and Covid, although clearly the Presidents attitude to Covid has not helped. The FTSE100 took a hit which seems to be entirely driven by Covid uncertainty across virtually all sectors. It’s quite interesting that the three main Eastern markets have been least affected. This is probably because where you have a less democratic form of government, rules can be imposed more easily.
So, to the markets.