Monday's trading on UK markets started positively, only to freefall into the red by close of play. The weak stocks were telecommunications, financials and oil and markets fell further due to US markets at a lower level. The FTSE 100 closed down by almost 1%. The FTSE TechMARK closed down just over 1%. Analysts believed that the markets had no guidance, bringing lack of confidence. Strong corporate earnings are now needed.
Tuesday saw UK markets pull back most of the losses made during the day, with all thanks going to the US (not surprisingly). The latest US consumer confidence index figures were out and they were confident! February's figure was 95 with 98 expected in March. What they actually got was 110.2! Despite some big losses during the day, the FTSE 100 managed to close slightly lower. The FTSE TechMARK closed down by almost 1%.
Wednesday was the first day this week for gains on the FTSE 100 - up by almost 0.5%. Not such good news for the FTSE TechMARK, it lost almost 0.5% due to unsettling news from the telecommunications sector.
Thursday saw another day in the black with the FTSE 100 closing up over 1%. This was also the first day this week in the black for the FTSE TechMARK, also closing up over 1%. Pushing the gains were pharmaceutical, financial and oil stocks, together with a good start from US markets with solid Gross Domestic Product data.
Friday saw UK markets closed for the Good Friday bank holiday. Trading will start again on Tuesday next week due to markets again being closed on bank holiday Monday.