FTSE100 companies entered the lockdown with enough cash to cover their debts for 292* days on average, shows a study from Bowmore Asset Management Ltd, the asset manager. However, that is down from 369 days’ worth of debt that FTSE 100 companies could pay out of their cash reserves in 2009 during the height of the financial crisis.
Supermarkets and pharmaceuticals were the sectors that held up the best across the FTSE350 during the coronavirus-driven stock market sell-off of recent weeks, says Bowmore Asset Management, the asset manager.
Over the first quarter of this year supermarkets and pharmaceuticals both saw share price falls of 10%* (despite their defensive qualities) – compared to a fall in the FTSE350 of 27% over the same period.
The coronavirus crisis continues to throw up more questions than answers. In this article I look to address a series of questions that both advisers and investors have been grappling with as the pandemic continues to unfold; ranging from where we see value, to which market is best positioned to rebound…