Global Matters Weekly – 20 June 2022

Striking a chord

by Mark Wright, CFA

Just over a month ago the United Kingdom (UK) reversed years of embarrassment to finish second place in the Eurovision Song Contest. Sam Ryder’s ‘Space Man’ impressed but was pipped to the post by Ukraine’s entry, ‘Stefania’ by Kalush Orchestra.

Popular opinion is that politics has a big influence on how votes are cast, and this year’s result did nothing to dispel those suspicions.

Market Snapshot

  • Global equities fell by 5.9% last week
  • All major world indices logged another big week of losses
  • Brent crude fell by 7.3% last week to $113.1 per barrel
  • Gold fell by 1.7% to $1839.4 per ounce.