22nd January 2024

Weekly Espresso

The infoshot to help kick-start your week

Last Week

  • UK inflation unexpectedly increased in December for the first time in 10 months. Inflation rose to an annual rate of 4 per cent in December which was above the 3.9 per cent figure seen in November and above the 3.8 per cent forecast by economists. The data contributed to a strong sell of in gilts as traders reconsidered when central banks will start cutting rates. The FTSE 100 fell 1.8 per cent on Wednesday morning as prospect of an early rate cute in the UK faded.
  • The S&P 500 hit a record high on Friday with technology companies pushing the benchmark higher. Despite setting a record high, the index has lost momentum in the beginning of 2024 as disappointing data has hurt early interest rate cutting expectations. Despite this, a handful of tech companies managed to push the S&P 500 higher last week with Meta, Microsoft and Nvidia all closing on record highs on Friday.
  • China’s economy grew an estimated 5.2 per cent in 2023 according Premier Li Qiang, the country’s deputy leader, in a speech in Davos. Li also noted that the growth rate was above the 3 per cent seen in 2022 and was achieved without the need of a large amount of stimulus. The country had set the 2023 GDP at 5 per cent which was the lowest in decades and economists are expecting the 2024 target to remain at 5 per cent.

Market Pulse

Coming Up

  • UK PMI data released, Wednesday 24th January at 9:30am.
  • ECB Interest Rate Decision, Thursday 25th January at 1:15pm.
  • US Q4 GDP data released, Thursday 25th January at 1:30pm.


For professional advisers only, Copia does not provide financial advice, and the contents of this document should not be taken as such. The performance of each asset class is represented by certain Exchange Traded Funds available to UK investors and expressed in GBP terms selected by Copia Capital Management to represent that asset class, as reported at previous Thursday 4:30pm UK close. Reference to a particular asset class does not represent a recommendation to seek exposure to that asset class. This information is included for comparison purposes for the period stated, but is not an indicator of potential maximum loss for other periods or in the future.Open document settingsOpen publish panel

Risk Barometer


as at latest realignment 31/12/2023


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    Copia Capital Management

    Hamilton House, 1 Temple Avenue, London, EC4Y 0HA

    Understanding the risks

    This information is intended for professional financial advisers only. Copia does not provide financial advice. This information is not intended as financial advice and should not be interpreted as such. Model investment portfolios may not be suitable for everyone. The value of funds can increase and decrease, past performance and historical data cannot guarantee future success. Investors may get back less than they originally invested.

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