Ready for action

Published on 05-06-2020 13:37:21

Moving into the weekend, we’re ready for action again.

The ECB’s decision yesterday to extend the PEPP emergency programme by another €600bn has breathed life back into global markets and EU stocks are even outperforming Wall Street since mid-May. Fund-picking investors are choosing active over passive, and they’ve pumped the most money into US bond funds since 2007.

There’s lots of action around the pandemic today. New Zealand’s proactivity means it will be COVID-19 free next week, but Sweden’s chief epidemiologist admits the country could have done more. The virus is nastier than we thought – it attacks blood vessels and lasts for months – but companies are taking action as AstraZeneca doubles capacity for a vaccine. But do we need to be wary of ‘vaccine nationalism’? Not from AstraZeneca – they will ensure supply to poor countries globally.

COVID-19 aside, Google says China and Iran are election meddling and Iran is acting tough over oil shipments to Venezuela.

In the UK, house prices are down and buyers are taking action as Taylor Wimpey notes that interest is surging. Good news for Premier Oil, too. The most shorted UK company this year has some pressure relieved as it settles a rift with its biggest creditor and renegotiates acquisitions from BP – its shares rose 12% on the news.

We are pleased that Edison clients Civitas Social Housing and Oxford Biomedica will be included in the FTSE 250 from 22 June – Civitas will be the first listed REIT of its kind. And our investment trust webinar, which we flagged on Wednesday, has proven to be popular –215 people have signed up so far. Spaces are limited so please register soon.

Finally, the action isn’t limited to Earth – NASA’s ‘Mole’ finally makes a breakthrough on Mars and one man in Belgium wishes things would quiet down – spare a thought for him if you order pizza this weekend.

Until next week,

The Stream Team

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