Market Summary Week Ending 19/11/2023

The UK’s Bank of England held interest rates at its most recent vote, as did the US. This Tuesday (21 Nov) the Federal Reserve will release minutes from its November meeting which will offer insight into whether the US central bank is expected to raise or hold rates again this year.

European shares had a strong week generally with news coming out of the US this week, particularly the Fed potentially strengthening this further. The pan-European STOXX 600 ended the week 2.8% higher, with bonds yields falling. German bond yields hit their lowest in more than 2 months. With the markets pricing in a 1% rate cut by the European Central Bank by end-2024.

Japanese stocks have returned to highs not seen since 1990. The Nikkei is up in excess of 8% so far this month and almost 29% year to date.

Jeremy Hunt is looking to revive the stagnant UK economy as he delivers the Autumn Budget this week.

Please note for this weekly summary, we focus on the major indices within the financial markets such as the FTSE 100 (UK) and the Dow Jones and NASDAQ (US) to provide a factual account of what has happened within a certain index. Performance figures quoted are factual from the previous week’s trading and this summary is for commentary purposes only.

The performance of these indices is not a representation of an individual fund or portfolio. Past performance is no guarantee of future returns. The value of your investment can go down as well as up. You could get back less than you originally invested.