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MoneyWeek 1043

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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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United Kingdom
Dennis Publishing UK
51 Issues

in this issue

3 min.
from the editor-in-chief...

“From France to Florida, birth rates fell sharply during the pandemic” There once was an idea floating around that markets move with the moon. It sounds silly, but does stand up to some scrutiny. Research suggests the moon affects how we feel – more negative around a full moon; more positive around a new. We know that psychology plays a major part in market moves. So it makes sense that the two might be connected. Indeed, several studies show that markets do better around a new moon than a full – to the tune of 3%-5%. Fascinating, isn’t it? And once you know about it, it can seem to explain everything. Forget money flows and valuations –it’s all about the moon. The problem, of course, is that lunar cycles aren’t the only…

1 min.
the man who created a market icon

The Sicilian sculptor best known for the 3.5-tonne bronze statue of a bull he “illegally deposited” outside the New York Stock Exchange has died aged 80, says Clay Risen in The New York Times. It took Arturo Di Modica two years and $325,000 of his own money to craft the “Charging Bull” (pictured), which he was inspired to make as a morale-boosting gift to the American people following the 1987 “Black Monday” stockmarket crash. He illegally placed the sculpture outside the New York Stock Exchange in 1989, after scouting the location for police officers for weeks. It was swiftly removed and taken to a warehouse, where he paid a $500 fine to get it back. The sculpture ended up on a traffic island in Bowling Green, not far from his intended…

1 min.
good week for

Swimmers rejoice – the UK is embracing a “lido revival”, says Helen Pidd in The Guardian. Albert Avenue pool in Hull is the latest venue to benefit – Hull City Council plans to invest £4.6m in upgrading and reopening the venue. It is one of a string of lidos set to reopen as outdoor swimming soars in popularity. An executive who caught her “millionaire lover” in bed with another woman won a legal fight over their £2.5m Cotswolds home, says Jonathan A Ames in The Times. Sharon Blades, 63, and her husband Chris Rowland, 65, were described as“very much in love” before Blades discovered the affair. The judge ruled she was entitled to an equal share of the property, leaving Rowland with legal fees of more than £200,000.…

1 min.
bad week for

French bank BNP Paribas is being sued for £3.4m in damages by a banker who claims her victory in a 2019 gender discrimination case against the bank has “tarnished her reputation”, harming her career, says Jamie Fullerton in The Daily Telegraph. Stacey Macken originally sued BNP for £4m, claiming that over four years she was paid far less than male peers. An employment tribunal at the time ruled in her favour. Lockdown has driven a boom in demand for “the humble cactus”, but now retailers are warning of a “looming cactus crisis” due to Brexit, says Shanti Das in The Times. The British Cactus & Succulent Society warned that bureaucracy and border checks are making it difficult for garden centres to get their hands on the plant. Many European nurseries have…

2 min.
expect a supercycle in industrial metals

Everyone is talking about a commodities supercycle, says Ashutosh Pandey in Deutsche Welle. Google Trends reports that searches for the term have hit the highest level in over a decade. Copper prices have soared by 75% over the past year. The red metal, dubbed “Doctor Copper” because of its “uncanny ability to predict” economic growth, is leading the charge. Iron ore prices are up by more than 80% over the past year; aluminium has gained a third. Brent crude oil has jumped by 30% in 2021. Corn (maize) futures are up by 47% over the past 12 months, says Steve Goldstein on MarketWatch. The United Nations reports that food prices have reached their highest level since 2014. We could be in the early stages of an “upward price cycle of commodities...…

1 min.
consumers are a coiled spring

The total net worth of US households in the final quarter of last year was $122.9trn, says Justin Lahart in The Wall Street Journal. The figure had climbed from $111.4trn a year before. That’s unusual for a recession: after 2008 US household wealth fell and “then took years to recover”. The gains have been driven by rising stockmarkets and property prices, but Americans also have more cash on hand: $2.8trn, a 21% annual increase. Households across 21 rich countries saved about $6trn during the first nine months of last year, says The Economist. That is roughly double what they would probably have put aside absent Covid-19, generating “excess savings” of $3trn. The rise in global savings does not follow the same pattern everywhere. In the UK and the eurozone it has…