Markets

Posted by siteadmin on Monday 1st of May 2017.

(DATA COMPILED BY THE OUTSOURCED MARKETING DEPARTMENT)

April maintained the bullish sentiment prevalent in global equity markets, as political elements concentrated the mind of investors. Unfortunately, the FTSE100 bucked the trend somewhat, towards the end of the month, having experienced a volatile period mid-month to register a 251 point swing from its high of 7,365.5 to its intra-month low of 7,114.36. It closed the month at 7,203.94, registering a fall of 1.62%. The wider FTSE250 fared better, gaining 3.39% to 19,615.36, with the AIM gaining 3.69% to 963.72.

The US President’s proposals for tax reform across the pond boosted both the Dow Jones, which rose by 1.34% to end April at 20,940.51 and the technology weighted Nasdaq broke through the 6,000 threshold for the first time ever and finished at 6,047.61, for a lift of 2.3%.

This theme continued in Europe where the Eurostoxx50 gained 1.68%, ending at 3,559.59, as the result of the first round of the French Presidential election was digested.

Japan also prospered, with the Nikkei225 gaining 1.52% to 19,196.74.

The surprise call for a general election in the UK caused a rush to Sterling, as the foreign exchange markets reversed their initial bearish stance, to push the pound to a six-month high against the US Dollar of $1.29, a gain of 3.2% in the month. It also fared well against the Euro, where it gained 1.71% to €1.19. The Greenback, however, slipped somewhat against the Euro, closing the month out at $1.09.

US shale productions continuing increases saw Oil, as measured by the Brent Crude benchmark, drift off $1.10 to close out the month at $51.73 a barrel. A fall of 8.96% since the turn of the year.

Gold continued its four-month price rise, as investors continued to favour the precious metal. It increased by $18.63 a Troy Ounce to end April at $1,267.76, up 10.15% on the year-to-date.

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