Market Overview – 29/04/2021

Markets finished last week relatively unchanged after a couple of ups and downs, suggesting we are in the eye of the storm as companies begin to release their 2quarterly earnings for Q1. The US dollar continued its slight fall in value against other major currencies. Meanwhile the FTSE 100 was the only major index to fall by any significance at -1.2%. Despite breaking even for the week, US equities reacted negatively to news from President Joe Biden of a possible capital gains tax hike to be used for his Families Plan, although this is expected to be formally proposed in the coming days.

While positive news continues to come regarding vaccine rollouts for much of the western world, rising Covid-19 cases across Asia and parts of Europe is still causing concerns of a delayed economic recovery. India in particular, one of the fastest growing economies in the emerging markets, is reporting more than 350,000 new cases every day and is showing signs of struggle to control the spread amongst its 1.3 billion population.