Market Overview May 2020

UK The UK Economy has taken a huge hit in the past 4 weeks as government restrictions extend into May. Large parts of the economy have ground to a complete halt and many businesses are turning to government for help. UK composite PMI slumped to 12.29 in April, a record low and down from 36 in March. To put this into context, 2008 PMI during the depths of the financial crisis in 2008 hit 38.1. Increasing numbers of UK companies are suspending or cutting dividend payments as they look to consolidate cash flows and shore up their balance sheets. The good news is that at no time in history has so much aid been afforded to large UK companies. They can borrow directly from the Bank of England, tak

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