Market overview
The FTSE/JSE All Share closed last week at 73 616.06, increasing by 0.26%. The health care and basic materials sectors increased by 2.81% and 2.51% respectively during the week. The technology and consumer staples sectors decreased by 3.24% and 1.70% during the same period.
Looking at the MSCI indices, developed markets increased by 0.16% during the previous week while emerging markets increased by 2.11% over the same period.
US inflation lower, but still sticky
The annual inflation rate in the US fell back to 3.1% in January 2024 following a brief increase to 3.4% in December but came higher than forecasts of 2.9%. Compared to the previous month, the CPI edged up 0.3%, the most in four months, and above forecasts of 0.2%. Annual core inflation held steady at 3.9%, compared to expectations it would slow to 3.7%. The monthly rate edged up to 0.4%.
UK slips into recession
Initial figures are showing that the UK slipped into a technical recession in the final quarter of 2023.
All three main sectors of the UK economy contracted in the fourth quarter, with declines of 0.2% in services, 1% in production and 1.3% in construction output. For the whole of 2023, the UK economy grew by 0.1%.
Thanks to PPS Investments for the Market Overview.
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