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Friday the 13th #FinanceFriday

There was some optimism in the London stock market at the beginning of the week. The Biden win coupled with news of success with a vaccine from Pfizer boosted the market. However, the week is ending on Friday the 13th with the virus spreading at an alarming rate and central bankers urging caution.

Friday the 13th

Friday the 13th

Should we sell our holdings and head for safe harbours because it’s Friday the 13th? I don’t think so! This is the 21st-century, put your rabbit’s foot away and listen to the economists and central bankers. We need to be cautious but some stocks are still looking good. The lockdown has meant people eating out less and indulging in afternoon tea. Those exceedingly good cakes from Premier Foods are selling well. Premier Foods share price did fall this week as investors thought financials were a better bet but today investors are in a more cautious mood and backing PFD once more.


The banks and other financials were out of favour yesterday but are making gains today. Overall, I think banks are still underpriced and are a good bet. Gold fell this week as investors sold to get back in the market but caution sent many back to gold yesterday with gold back up to £1432 and ounce. This morning, it has fallen a little and is at £1428 an ounce.


Around 20,000 new cases of covid across the UK were reported yesterday and today’s figure is over 30,000. The so-called ‘r’ number is still above 1 and the lockdown isn’t yet taking effect. My own personal experience suggests that older people are mostly accepting the restrictions but young people are being careless. The infection is spreading amongst older schoolchildren who then take it home to their parents and maybe grandparents. Children in senior schools need to be placed in smaller classes and educated about the spread of covid.


My sister came to see me this week and we talked through an open window with the glass between us. She is part of my support bubble and although the chances of either of us being infected are low, we need to set an example. Parents should set an example for their children too.


Compliance with the restrictions needs to be enforced to protect the NHS and also to protect the economy. I’m sure the economy will recover but at what cost? I can see some well-known names disappearing and shareholders losing their entire investment. We need to assess the risks and as the central bankers have warned, be cautious. My good news on Friday the 13th is that my eToro holdings went into profit this week but only briefly. The GBP appreciated against the USD so that dropped the value slightly and then prices fell on the US markets yesterday. Maybe today they will buck that downward trend. I’m confident that stimulus in the US will be forthcoming soon and that will buoy the market. The risks are high now but so are the rewards if you choose your investments wisely and with caution.

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