Weekly Market Insight

Latest Economic & Market Update 11th February 2021

11th February 2021

Good afternoon, it is February 11th 2021 and here is your economic and market update from BlackBee. 

Today’s focus:

  • European Commission accelerates projected timeline for Covid economic recovery
  • Amsterdam surpasses London as Europe’s largest share trading centre

A return to pre-pandemic level of Euro zone output will occur sooner than previously expected according to the European Commission’s revised forecasts. The EC predict that the monetary union’s output will return to pre pandemic output in the middle of 2022. Late last year the EC forecasted that the recovery would not be complete until 2023. The ongoing vaccination program and easing of lockdowns is highlighted by the EC as a significant factor in brighter outlook. The Euro Zone’s economy contracted by 6.8% last year. Growth for 2021 and 2022 is projected to be 3.8% (Source: Irish Times)

Amsterdam edged passed London as the largest share trading centre in Europe last month according to CBOE Europe exchange. Amsterdam located exchanges traded €9.2 billion a day in January, higher than the €8.6 a day traded in London. European Union investors were forced to relocate their trading venues following Brexit. This week ICE exchange announced that the trading of EU carbon credits will move from London to Amsterdam also. (Source: RTE)

Best & Worst Performers of Large Cap US Stocks on Wednesday
Click image to enlarge

Global Market Update
(as at close of markets 10/02/2021)