By: The Quinnipiac University Economics Research Team, Jack French
Most of the Central European indices showed modest gains this past week. The Slovakian SAX lost almost two percent while the remaining indices were positive. The Czech PX was up half a percent, the Hungarian BUX and Romanian BET gained nearly one percent, and the Polish WIG 20 rose about two percent following a strong finish to the week. The US S&P 500 fell over five percent and the UK FTSE dropped nearly three percent.
The CEE indices looked strongly correlated with the partial exception of Slovakia. The two ways the US split from the European indices were on Monday when the US dropped and all but Slovakia was sharply up and on the week end when four of the five CEE indices were positive and the US was substantially negative. The US market faced harsh news throughout the week as economic data was poor and coronavirus cases were spiking.
Note: in this one-week update (instead of our usual 2-week update) we only present the index graph for the past week's stock market performances. We plan to issue weekly quick reports and then longer bi-weekly reports.