The UK has been through more dark days than many others over the past year as they grappled with a suitable COVID response, however three national lockdowns and a crippled economy are now giving way to signs of hope and a return to normality as nearly 37m vaccine doses have been administered and over 50% of the population have now had the jab. At this rate, it will only take another 4 months to cover 75% of the population with their required 2 doses, Boris & co are certainly running rings around their Australian counterparts given we’re yet to hit the 1m mark.
As is the case in Australia, the UK’s FTSE 100 Index has not followed global markets to new all-time highs and the recovery over the past 2 months has become anaemic. Like our own index, the 6800 level has been a significant magnet, however like our own index, the longer it ‘hangs in there’ the more likely a pop will eventually happen, most likely in the direction of the trend i.e. up.
