Weekly Market Review – 24th of June 2024

In this week’s market review, in the US the headline news featured NVIDIA, who became the world’s most valuable company, surpassing Microsoft with a market capitalization of $3.335 trillion and maintaining to spot until last Thursday evening. Over the week, the S&P 500 and NASDAQ indices closed up 0.89% and 0.43%, respectively. In Europe equity markets were mixed at the start of last week. On the continent equities underperformed, as political uncertainty emanating from France continued to dominate market sentiment. For the week, the Eurostoxx50 closed 0.71% higher, while the STOXX600 closed 0.49% higher. In the UK, the annual rate of inflation slowed to 2% in May, marking the first time inflation has fallen to the Bank of England’s target rate of 2% since July 2021. In Ireland according to a recent survey by the Central Statistics Office, Ireland welcomed 6.3 million foreign visitors in 2023. Economically, these visitors contributed €7.3 billion through their spending during their trips. In Asia- Pacific news In Asia-Pacific news, the Chinese Ministry of Commerce has initiated an anti-dumping investigation targeting European Union pork imports. This move marks the latest development in the continuing trade disputes between China and the EU.