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Each month you think life can’t get anymore unpredictable and then it does. Maybe it was apt that the UK was meant to be leaving the EU on Halloween. But now we will know the result of upcoming General Election early on Friday 13th Dec 19! Let’s face it the omens are not good!
They don’t seem much better on the global scene with President Trump facing impeachment, an on-off-on-off trade war with China, a far from clear policy in the Middle East and Germany facing recession.
Can it get any worse?
Not that you would really glean any of this turmoil from the stock markets where US markets have all hit record highs. NASDAQ rose another 3.8% to a massive 25% gain YTD. The 2.2% fall in the FTSE100 was, in some respects, ‘good news’ as it reflected the strengthening in the £ in Oct 19. Most FTSE100 constituents make most of their revenues outside the UK so translating these earning back into sterling can affect results significantly.
The FTSE Fixed Line Telecomm Index was up 13.6% in Oct (still down 12.2% YTD) This was pretty much entirely down to BT.
The FTSE SCS Index, which most closely tracks the UK quoted software and IT services companies that we follow, rose 5.2% in Oct (thus beating the rise in the NASDAQ) - 17.5% YTD. The two biggest risers were both down to takeover bids.
For the full, detailed Review of Share Price Performance in October 19, See HotViews Extra. Exclusively only available to TechMarketView’s paying subscribers including HotView Premium subscribers. For more details of how to become a subscriber see How to become a HotViews Premium Subscriber. Or Signup here.
Posted by Richard Holway at '17:26'