INSIGHTMOTORSPORTCONTACT
In this week's Market Monday insight, where we analyse some of the globe's major markets; the UK prepares to make its final decision on whether to end coronavirus restrictions later in the month, oil prices reached a two-year high in the US and markets in China saw a small decline compared to the previous week.
Beginning in the UK, a sharp increase in cases of the highly transmissible Delta variant of coronavirus stoked concerns among scientists and government officials - sparking a debate on whether lockdown measures should be fully lifted on June 21. Although the number of new cases rose to levels not seen since late March, Prime Minister Boris Johnson said there was not yet enough evidence to delay a full reopening.
Heading to the US, energy shares performed best within the S&P 500 Index as oil prices reached their highest level in two years. Consumer discretionary shares lagged, weighed down by a decline in Tesla. Trading volumes were generally light, as is typical of the start of the summer holiday season.
In Asia, Chinese stocks retreated after recording three weeks of gains. The CSI 300 Index shed 0.7% and the benchmark Shanghai Stock Exchange edged down 0.2%, according to Reuters. Meanwhile, foreign investors bought USD $8.7bn of Chinese stocks in May, the highest single month this year.
