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Saturday 31 October 2020

Share performance October 20

AharesSharesI write this review of Share Performance in Oct 20 on a dismal weekend of rain and wind. I write it after one of the worst weeks on the markets this year.  I write it as I listen to the PM announce another period of draconian lockdown restrictions. I write it not knowing the outcome of the US Presidential Election on Tuesday. I write it not knowing whether the UK can agree some kind of deal on BREXIT to avoid an exit with ‘No Deal’ in just two months. I could go on. But I am too depressed already.

All this uncertainty and doom-laden outlook finally hit the markets.

The FTSE100 dropped nearly 5% in Oct – its worst performance since March when the last lockdown was announced. FTSE100 is now down a massive 26% YTD

NASDAQ fell 5% last week to close down 3.3% in Oct. But worth noting that NASDAQ is still UP 21% YTD and up over 50% since its March 20 low. Contrast that with the UK’s TechMark100 which is down 9% YTD.

It was even worse for UK quoted Software and IT Services stocks. The FTSE SCS Index fell 8.1% in Oct and is now down 16% YTD.

The outlook?

I think I should write the outlook statement in a week’s time. We’ll then (possibly) know the outcome of the US Presidential Election, the consequences of the UK new lock down and who knows what else.

Anyway, this is not a time for clever-clogs know-it-all analysts…

HVPFor a more detailed and extensive review of Share Performance in Oct 20 see HotViews Extra. This includes details and commentary on the main risers and losers (rather more of the latter!).

Available to all our paying subscribers including HotViews Premium . IT COULD BE YOU!  Sign up for just £395+VAT pa.  CLICK HERE!

Posted by Richard Holway at '20:37'