Share performance October 20

I 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…

For 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!).

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Posted by Richard Holway at '20:37'