First things first, the last competition, which local school did a new chancellor go to? got a great response so much so that I decided to have two winners who replied within a split second of each other. The winners are Simon S and Ranjeet S. Well done both of you.
This week the markets have been driven to a great extent by the Corona virus, as you will have read it is no longer just being spread by people leaving China, but from many different countries. As I said last week the impact has been felt by companies both small and large and across almost every area of commerce.
One of the interesting things that is going on is that Fund Managers are taking the opportunity to buy into luxury brands such as Estee Lauder and Burberry; you will recall that I mentioned these firms last week. The logic is that their share price has fallen dramatically, which makes them a good buy, but should recover fairly quickly. This goes to demonstrate that often an active fund is a better bet than a passive.
This week’s competition for a bottle of champagne, what is a passive fund. As usual the first three correct answers win.
So, to the markets.
|January 2nd||February 24th|
|FTSE 100||7604||7403.92||Down 2.71%|
|DOW JONES||28584||28992.41||Up 1.42%|
|S&P 500||3261||3337.75||Up 2.23%|
|HANG SENG||28543||27308.81||Down 4.32%|
|CAC 40||6037||6029.72||Down 0.13%|