Market Summary Week Ending 23/04/2023

It was a mixed week across major global indices as investors digested key economic data releases.

In the UK the FTSE 100 continued its strong rally for April with its fifth straight week of gains, despite CPI data from 19 April showing inflation staying stubbornly high. The positive performance of defensive stocks such as Severn Trent and Astra Zeneca provided the boost, with an overall gain of 0.49%.

Meanwhile, it was a disappointing week for all the major US indices as investors mulled over the latest earnings report. Companies broadly beat expectations across the week, but overall profit reports failed to boost confidence in equities. Investors fear an earnings drop looming with the potential for a recession in the US ahead.

As a result, across the week the Dow Jones lost 0.23% to snap a four-week positive streak, with the Nasdaq and S&P also falling 0.42% and 0.10% respectively.

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.