I have been watching the stock market this week and it was a dire week. I might pull back those losses today though. Oil majors and banks are up today and as long as the market doesn’t tank in the next hour I should end the week very much as I started it. In the UK we are waiting for a new Prime Minister and a new government and that has caused uncertainty. I’m still hoping Rishi Sunak wins the leadership contest.
The energy crisis is still threatening to slash our discretionary incomes. My fix ended at the end of August and I checked today and I’ve been moved to the standard rate (capped). I’ve been trying to cut my energy usage not just to save money but I think we should all cut our energy usage in support of the people of Ukraine. In fact, in the future, I think we should avoid doing business with Russia so that they are limited to trading with other communist nations.
The pound fell to $1.1573 this week. I benefit if it’s low so it can stay there a while and help our exporters. It would help alleviate our energy crisis if it made some gains though. NATGAS is quoted at $8.87 on eToro, -3.47% down. I hope it keeps falling but I think supplies are still very limited.
A good end to the week?
Major supermarkets have introduced economy lines to help people who are struggling. Asda has Just Essentials. I eat a lot of salads and so I tried the Just Essentials ham and it tasted better than the more expensive ham! I also had the Just Essentials soya drink to pour on my cornflakes and they are just as good as the dearer one. Last week I had 6 bottles of wine and saved with 25% off for buying 6. Hopefully, I can keep them for Christmas, they’re down to 5 now!
There are still 30 minutes until the LSE closes but I think I’ll break even this week and that’s good considering we appear to be going into a recession. I have just seen that Cineworld Group is up over 13% today. Maybe they will stay in business after all. Anyway, I think I can go into the weekend in a good mood. I have a number of annual bills coming up but they will be followed by a number of dividends!
Leave a Reply