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Walker Crips' Market Commentary

Equities continue their amazing streak

Season 1, Ep. 7

It has become quite common this year for stock markets to reach new all-time highs, and to do so without significant corrections along the way. This pattern was very much in evidence last week, as equities continued their amazing streak following October’s blip. The S&P 500 index rose to an all-time high for the seventh day in a row, and has broken so many records for undiluted optimism this year that market commentators have mostly given up highlighting them. Continental European stock markets were just as bullish, with the benchmark Euro Stoxx 50 index reaching new post-credit crunch highs for seven straight days. While most equity indices in the developed world have fared well over the past month, some have been more equal than others: UK equities have risen, but still significantly lag their pre-pandemic levels. The US stock market is now close to its all-time high in relative performance against the UK, and is trading at a 40% valuation premium, while European stock markets are trading at a 20% premium to the UK, a new post-referendum high.


Stocks featured:

Airbnb, Berkeley Group, Moderna, Peloton Interactive, Taylor Wimpey and Tesla


To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/


This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange.

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