The huge news yesterday broke with a potential vaccine, and the big positive seems mainly because of the rate of effectiveness being up at 90% which is a lot higher than the Food & Drug Administration (the US regulator) had in mind to “green light” a vaccine (anywhere above 50%). We saw the FTSE up above 5% in a single day, second largest one day climb in history ! So it is all over ? Whilst the index is up in general of course some of the individual constituents of the index are really up following a tumultuous time (a real clobbering) at the hands of the pandemic. Rolls Royce & IAG (Owners of British Airways and Iberia), stocks all rocketed yesterday and after a good run delivering takeaways to us locked in our homes (which will continue for a while yet) the Just Eats and the Ocados, and exercise company Peloton and Zoom Conferencing applied the brakes and began to fall away – we can expect more of the same in the coming months ahead.
We certainly are not out of the woods yet, and it is very important to keep a close eye on your portfolio, so ensure that its properly managed. Please feel free to reach out to me if you would like to discuss any aspects of financial planning and investment advice.