Returns of selected markets; over one week and since 1st January. This week Sorted by the year-to-date column. Sorted by the last week can be found at the bottom of this post.
An eventful week. It started with a mini panic on Monday before the US market staged a late recovery on Friday, leaving the NASDAQ and S&P 500 both up slightly on the week. A straw in the wind perhaps. Oil hit $90 and ended the week at its highest since 2014. The FTSE 100 was down 0.4%, faring much better than mid and small cap – Aim All-Share was down 4.4% (11.0% this year), FTSE 250 -2.8% and FTSE Small Cap-2.4%. It also fared better than Continental European markets with the DAX down 1.8% (growth figures disappointed), CAC -1.5% and MIC -2.4%. Powell’s hawkish words convinced the markets he would get on top of inflation with the $US strengthening and gold falling.
There is still a day left but the chart at the top of the page, which was published before Friday’s rally, shows the -7.01% fall in the S&P so far this year makes it the fourth worst January since 1929. For what its worth, (probably not much) in 1970, the market bottomed in May and in 2009, in March. In both cases it then staged a strong recovery.
The JIC Portfolio ended the week down 2.8%, worse than the 0.8% drop for the All-Share. Year to date JIC is down 4.8% v +-0.6% for the Index. Too much small cap, not enough FTSE!
The JIC Funds’ Portfolio lost 3.5%, compared with the 0.1% fall in the All-World Index. Year-to date, the Funds’ Portfolio is down 8.2% v -5.5% for the Index.
Last week’s big movers: Positives; Serica Energy +7.0%, and K3 Capital +5.1%.
Negatives: Supreme -14.8%, L&G Gold Mining ETF -10.1%, Keystone Positive Change -8.2%, Baillie Gifford Shin Nippon -6.9%, Renew Holdings -6.2%, Biotech Growth Trust -6.1%, Blackrock Throgmorton -5.8%, L&G ROBO Global Robotics & Automation -5.4%.
New three-month or all-time highs last week: Lundin Energy
New Positive Rectangle Breakouts: Lundin Energy?
New three-month lows last week: Baillie Gifford Shin Nippon, Biotech Growth Trust, SDI Group, Bioventix, Central Asia Metals, CentralNic, Renew Holdings, Blackrock Greater Europe, Fundsmith, Smithson, JP Morgan Emerging Markets, Blackrock Throgmorton, Keystone Positive Change Trust, Worldwide Healthcare Trust, L&G Gold Miners ETF, Premier Miton UK Smaller Companies and L&G ROBO Global Robotics & Automation ETF.
New Negative Rectangle breakouts: None
Trades: I cut my position in De La Rue following a disappointing trading update. I added to Biotech Growth Trust in both Portfolios, taking the position to 3.7%.
News: Disappointing update from De La Rue but then positive updates from Renew Holdings, Somero Enterprises and Anglo Pacific.
Ex-dividends: Renew Holdings went ex 11.17p on Thursday
Next week: Lundin Energy 2021 results on Tuesday and Blackrock Energy & Resources Income on Friday?
Cash: Now at 2.4% in the JIC Portfolio and 11.2% in the Funds’ Portfolio.
Comments