A Brief Market Overview That Can Be Read In 5 Minutes

Most major benchmarks ended the week in positive territory. UK stocks climbed over 3%, helped by the depreciation of the UK pound versus the US dollar. A decline in the UK currency helps to support the index, which includes many multinational companies that generate meaningful overseas revenue. Bonds were mixed for the week, with higher oil lifting inflation concerns.

Technology and growth stocks lagged after Apple’s new product introduction event on Tuesday, which featured a price increase on its top -of -the -line iPhone 15. The products received mixed reviews, which also seemed to dampen sentiment towards the technology sector over the course of the week. However, The stock listing of microchip maker Arm went well, with shares rising on the day.

The US annual inflation rate increased to 3.7% in August 2023 (vs. 3.6% expected), up from a reading of 3.2% recorded in July, mainly driven by an increase in oil prices. The core annual inflation rate, which excludes food and energy, fell to 4.3% (in line with expectations), marking the fifth consecutive decline.

The US annual inflation rate increased to 3.7% in August 2023 (vs. 3.6% expected), up from a reading of 3.2% recorded in July, mainly driven by an increase in oil prices. The core annual inflation rate, which excludes food and energy, fell to 4.3% (in line with expectations), marking the fifth consecutive decline.

The price of oil climbed for the third week in a row and eclipsed $90 per barrel on Thursday for the first time since last November. The price has climbed around 14% over the past three weeks amid renewed oil supply concerns. Last Thursday, China’s central bank cut cash reserve requirements for all banks to boost the country’s economic recovery, and with it, increase potential oil demand.

The price of oil climbed for the third week in a row and eclipsed $90 per barrel on Thursday for the first time since last November. The price has climbed around 14% over the past three weeks amid renewed oil supply concerns. Last Thursday, China’s central bank cut cash reserve requirements for all banks to boost the country’s economic recovery, and with it, increase potential oil demand.

Banks, businesses and households would benefit from lower costs and reduced financial risks by the end of the decade if actions to reduce emissions were substantially accelerated, according to new climate stress test results released by the European Central Bank’s (ECB), which found that banks’ credit risk could rise by more than 100% by 2030 if initiatives to hit global climate goals are pushed out.

In the UK, the Bank of England is anticipated to implement its 15th consecutive interest rate increase, raising the Bank rate by 0.25% to 5.5%, the highest since 2008. Investors will also closely monitor inflation data in the UK. The US Federal Reserve is widely expected to leave its benchmark interest rate unchanged at its twoday policy meeting that is scheduled to end on Wednesday.

For more information or to get in touch with a financial consultant directly, please direct message me or check out our website here.

Website: W1 Investment Group To keep up to date with recent market information, company information and free webinars, please sign up here to our newsletter here . You may unsubscribe at any time.

Source: Multi Asset Investment Team, Financial Times, BBC News, John Hancock, Morningstar, Trading Economics, ESG Today