Daily Digest: Wednesday 29th March
USA
-Wednesday was a generally positive day in terms of US equity performance, the four indexes we follow all closed up shown in the table above, with gains led by the tech sector as shares in tech giant Meta climbed 2.33%, as Amazon jumped 3.10% now trading at $100.25 per share.
-Hearings into the collapse of Silicon Valley Bank and Signature Bank have entered their second day on Capitol Hill, as investigators seek to understand the cause of the collapse and how regulation can be amended and introduced to mitigate future risk
UK
-The FTSE 100 has climbed 1.07%, with gains led by grocery giant Ocado (Ticker:£OCDO) at 7.66%, insurance provider Prudential PLC (Ticker:£PRU) at 4.26% and the savings and investment bank M&G (Ticker:£MNG) whose shares rose 3.68%.
-King Charles has embarked upon his first official tour of Germany, meeting officials in Berlin.
Rest of World
-UBS have reappointed Sergio Ermotti as CEO, taking over from Ralph Hammers who will remain at the firm. Ermotti’s first job will involve overseeing the takeover of rival bank Credit Suisse.