Gerald Fitzgerald’s Market Review September 28th
28 September 2020
LAST WEEK IN 30 SECONDS...
Investor uncertainty saw global equity markets move sideways last week. That did not tell the full story, however. With amplifying coronavirus cases globally, ongoing uncertainty on any vaccine’s production timelines and continued indecision at US government level on the provision of further financial assistance investor sentiment remains wary.
Closer to home within the Eurozone, markets sentiment was firmly negative as the German DAX and French CAC 40 finished the week down nearly 5%. Currency markets were particularly volatile as the euro gave up 2% on the US dollar last week. Global equities finished the week 0.1% higher.
THIS WEEK IN 30 SECONDS...
Tuesday sees the first presidential debate as Joe Biden and Donald Trump share a stage to debate whom is best suited to lead the US for the next four years. With both side’s electorate super charged for victory expect a well-choreographed spectacle. Elsewhere, the UK trade deal negotiations with the European Union continues this week with both sides meeting for 3 days in Brussels.
From an economic perspective, Wednesday sees the release of Eurozone inflation and German retail sales. Across the Atlantic, Wednesday sees the release of US GDP with the release of manufacturing PMIs on Thursday.
MARKET RECOVERIES: A TALE OF TWO REGIONS
Coronavirus has had significant impact on real estate investment trusts this year, however, some have held their valuation better than others. Equinix, a world leader in data centres, has seen its share price increase by over 30% year to date.