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PLU Financial Review February 2024
1st March 2024
For some January felt like it lasted a lifetime, but February (even with the extra day this year!) flew by and markets responded positively.
European and US equities, in particular, performed well and UK large caps were also marginally up over the course of the month.
With earnings season done and dusted, broadly speaking it was a little bit better than expected – especially the results from US chip designer, Nvidia, who shattered the stock market record by adding over $230 BILLION in value in one day!
To put that in perspective, that one day rise is over 1.5 times the market cap of oil major, Shell – the largest member of the FTSE 100. The mind boggles!
For the romantics, February sees the return of Valentine’s Day and (for the cynics) overpriced food, in overfilled restaurants – so the debate around the direction of travel for inflation remains.
That being said, even the European Central Bank seem to be feeling the love with an incredibly cringey poem, posted on X:
Roses are red
Violets are blue
We’re nearing our target
And we will reach 2
Apologies…
This communication is for informational purposes only based on our understanding of current legislation and practices which are subject to change and are not intended to constitute, and should not be construed as, tax advice, investment advice, investment recommendations or investment research. Investing involves risk. The value of investments can go down as well as up, and you may not get back the amount originally invested. Past performance is not a reliable indicator of future results. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.