Weekly Market Review 13th of May 2024

In this week’s Market Review- In the US, AI focused stocks performed well, with NVIDIA increasing 3.7% while Super Micro Computers gained 6.1%. The Biden administration last week revoked the export licenses for two of the largest producers of semiconductors in the country, which allowed trade with Chinese telecoms companies. In Europe, the Swedish central Bank cut rates for the first time in eight years. European and UK equities would reach new highs last Wednesday, with the Eurostoxx50 posting a new 23 year high, while the STOXX600 reached a new all time high. In the UK, the Bank of England’s Monetary Policy Committee (MPC) had its May meeting. There was no change in the interest rate. In Ireland, wind generation for April was the second highest on record for the month, with 1,076GWh of power generated and accounting for 32% of total power generation in Ireland in April. In Asia- Pacific trade in the world’s second largest economy, China returned to growth in April with both exports and imports increasing, boosted by high end manufacturing. .2521 1.2521 1.2521 1.2521 1.2521 1.2521 1.2521