Market Summary Week Ending 27/11/2022

The UK market has remained relatively steady after last week’s autumn statement. It closed on Black Friday 1.7% up, buoyed largely by energy stocks.

The Bank of England has remained fairly quiet since the November rate meeting. All eyes will be on the next rate review on 15th December. It noted that the ‘fiscal tightening’ in the autumn statement was largely delayed into 2025, and so this could contribute to keeping inflation high.

Next week will bring the market’s reaction to Black Friday sales figures, which bounced back this year despite predictions that they would fall due to current inflationary pressures.

The US had a quiet week, with markets closed on Thursday for Thanksgiving and only open for a shorter day on Friday. Positive earnings reported helped lift stock indexes. The S&P 500 Index finished above the 4,000 level for the first time in two months.

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 intended as commentary 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 invested.