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MoneyWeek

MoneyWeek

1061

MoneyWeek is a weekly magazine that enables you to become a better-informed, smarter investor and enjoy the rewards of managing your money with confidence. Week-in, week-out we'll guide you through the financial world as it changes, alerting you to all the opportunities to profit and dangers to avoid, as they appear. Income strategies, rising-star companies, the best funds and trusts, clever ways to preserve your wealth during market turmoil... you will get the best ideas from the sharpest financial minds and investing professionals in Britain.

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Country:
United Kingdom
Language:
English
Publisher:
Dennis Publishing UK
Frequency:
Weekly
$9.11(Incl. tax)
$216.66(Incl. tax)
51 Issues

in this issue

2 min
global equities pause for breath

“There is now a feeling that the UK could be staring at a fresh Autumn lockdown,” says Susannah Streeter of Hargreaves Lansdown. “Far from giving investors a jolt of confidence, Freedom Day has seen it evaporate, as sharply rising infection rates disrupt businesses.” The pandemic strikes again Global markets plunged on Monday as investors feared the Delta variant could derail the recovery. The FTSE 100 fell by 2.3% to close below 7,000. The FTSE 250 dropped by 2.2%. Aviation and leisure stocks were among the worst hit. The pan-European Stoxx 600 had its worst day of the year so far. America’s S&P 500 retreated by 1.6%. The US ten-year Treasury bond yield fell to 1.18% as prices rose, the lowest level in five months. Japan’s Nikkei 225 index hit a six-month low on…

1 min
gold is poised to glitter again

It has been a dispiriting year so far for gold investors, but the yellow metal could be poised to glitter again. Gold prices started the year around $1,900/oz but fell back as investors piled into “risk-on” assets in anticipation of economic reopening. This year’s cryptocurrency mania has also stolen some of gold’s thunder as a hedge against currency debasement by central banks. By early March, the price had tumbled to $1,700/ oz. June was the metal’s worst month since 2016. Yet gold has perked up to trade around $1,820/oz this week. It has risen by 2.5% since the start of July in dollar terms. Why? Because of gold’s traditional role as an inflation hedge. Inflation surged to 5.4% last month in the US and also went over the central bank’s target…

1 min
■ it’s tin’s time to shine

Move over copper, its tin’s time to shine. The price of the silvery-white metal has nearly doubled over the past 12 months to trade above $34,600 a tonne this week, surpassing its previous peak of around $33,000 in 2011. Soft and malleable, the metal is used in solder in circuit boards. It is benefiting from booming demand from the electronics industry. Other industrial metals have dipped recently, with copper still 13% off its May high, but tight supply has kept tin prices buoyant. Much of the world’s tin is mined in Asia, but flooding in China’s Yunnan province, political unrest in Myanmar and disruption from the Covid-19 Delta variant in big Southeast Asian producers is keeping a lid on supply.…

1 min
city talk

• Posh-mixers maker Fever-Tree reported that its like-for-like sales during the six months to June “rose by a third to £137m”, says Lex in the Financial Times. But the shares slid by 6% on the news. Rocketing transport costs are weighing on margins: “Sea freight rates to the US... have almost trebled since the start of the year.” The group’s expansion into the US won’t be derailed – it is ramping up production locally. Still, “on a price/ earnings ratio of almost 60, shares in this drinks maker look too frothy”. • Hedge-fund billionaire Bill Ackman has been “too clever for his own good”, says Chris Bryant on Bloomberg. Not “content” just to raise $4bn to fund the largest special purpose acquisition company (Spac) ever, he also plotted “the most complex”…

3 min
pm snatches defeat from jaws of victory

“The aesthetics of a prime minister in isolation on Freedom Day are, of course, not super,” says Hugo Rifkind in The Times. “It’s like announcing the end of a war while wearing a gas mask.” As for the mysterious VIP pilot scheme, which meant that at 8.01am on Sunday Boris Johnson and Rishi Sunak didn’t have to self-isolate after contact with Sajid Javid, but by 10.38am they did, it prompts the question, “who is flying this plane”? With about half a million people currently isolating in “this United Pingdom of ours”, did Number 10 not realise how this would look? The government is “in danger of snatching defeat from the jaws of victory”, says Jeremy Warner in The Daily Telegraph. After a “disastrously ill-judged” initial response, followed by the huge success…

2 min
the vaccines are doing their job

The Delta variant of the virus is “ripping” through Britain, with more than 40,000 new cases being reported daily (roughly two-thirds of the January peak), says The Economist. But daily hospital admissions have fallen to around 750, a sixth of the peak, patients are younger (60% aren’t vaccinated), treatments are better, and hospital stays are shorter. Scientific advisers stress that vaccines have weakened, not “severed”, the link with serious illness and death, says The Guardian, and around 40 people are still dying of Covid-19 every day. But this is a fraction of the 1,800 peak in January and the majority of deaths are actually now among the vaccinated, says The Conversation. Why? Because a vaccinated 70-year-old is still at greater risk from Covid-19 than an unvaccinated 35-year-old. In Israel, where 56%…