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You acknowledge and agree that access to this Site is provided only in accordance with these Terms & Conditions.

By accessing this website (the ‘Site’), you agree to be bound by the following terms and conditions (the ‘Terms’). Before using this Site, you should read carefully the Terms, our Cookie Policy and also our Privacy & Security Statement. If you do not agree to these Terms & Conditions, please do not make use of this Site.

The Site has been approved for issue in the UK by Harrison Rowe Financial Planning Limited trading as Harrison Rowe Private Wealth. Harrison Rowe Financial Planning is authorised and regulated by the Financial Conduct Authority (“FCA”), and is entered on the Financial Services Register with the firm reference number 208467.

Harrison Rowe Financial Planning is part of a global group of businesses known asThe Harrison Rowe Group. Harrison Rowe Financial Planning Limited is registered in England and is established at 56, Wentworth Road, Blacker Hill, Barnsley, United Kingdom, S74 0RP, which is its registered office.

Unless otherwise stated in relevant sections of the website, this website is targeted at investors who are generally classified as qualified, professional, accredited or institutional. The information contained in this website is directed only at persons in a country or jurisdiction where access to the information and the use thereof is not contrary to local law or regulation. It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction when accessing the information contained in this website. In particular, no offer or invitation is made to any US persons (being residents of the United States of America or partnerships or corporations organised under the laws of the United States of America or any state, territory or possession thereof), who are excluded from the services, funds and products included in this site. There will be no public offering of services, funds and products in the United States.

The services, funds and products will not generally be available to U.S. Persons.

Should you wish to contact us please refer to the Contact Us link which can be found on each page of the Site.

In these Terms

  • ‘Content’ means all pages, screens, information and materials included in or accessible through this Site (including any content available on any email or SMS services).
  • ‘you’, ‘your’ and ‘yours’ means you, the person(s) accessing this Site and the party on whose behalf you are doing so.
  • ‘we’, ‘us’ and ‘our’ means HR Capital Partners Limited.
  • ‘HR / HR Group’ means HR Investments Limited, its subsidiaries and associated companies from time to time.

Terms

These Terms cover your use of this Site. All products and services provided by members of the Harrison Rowe Group have their own terms and conditions (the ‘Product Terms’). You must read both the Product Terms and these Terms. To the extent that the Product Terms conflict with these Terms or any Local Sites’ terms and conditions then the Product Terms will prevail.

We are required by law to tell you that the terms and conditions are in English and that we will communicate with you in English.

From this Site we may provide information or hyperlinks to other websites or pages provided by other entities within the Harrison Rowe Group (‘Local Sites’) and other parties. Your use of Local Sites and other parties’ sites may be subject to their own terms and conditions. You should read them.

This Site is intended for those who access it from within the United Kingdom. Because of this we cannot guarantee that the Site, or the information thereon, complies with the local laws or regulations of, or is appropriate for use in, any other jurisdiction from which you access it. If you choose to access this Site from a jurisdiction other than the United Kingdom you do so at your own risk and the Harrison Rowe Group will not be liable for any breach of local law or regulation that you commit as a result of doing so.

Please make sure you read carefully all applicable terms, conditions and disclaimers relevant to your use of the products, services or information that may be offered to you from time to time.

If any part of these Terms is found by any court or other competent authority to be invalid, unlawful or unenforceable then such part shall be severed from the rest of the Terms which shall continue to be valid and enforceable to the fullest extent permitted by law.

Changes to our Terms

You acknowledge that we may amend these Terms from time to time, at our sole discretion. If we elect to amend these Terms, the revised version will be posted on the Site. You undertake to check the Site regularly for any changes we may have made since your last visit to the Site, since any such changes will be binding on you. By using the Site after we have changed or amended these Terms, you acknowledge that you will be accepting those changes or amendments.

These Terms & Conditions were last updated on 6th February 2019.

Availability of site, products and services

The Content, including layout, of this Site or products or services available via this Site may be wholly or partially suspended, withdrawn or changed at any time.

We also reserve the right at any time to immediately suspend the provision of all or any part of this Site to you and/or block your access to this Site.

The provision of financial services or products

Not all the products and services that you may be able to view via the Site are available in all geographical locations. The relevant Harrison Rowe Group member reserves the right to make the final determination on whether or not you are eligible for any particular product or service.

If you choose to enter a website outside your country of residence, you are advised that it may not be legal in that jurisdiction for you to access or use the facilities available on that site and the legal requirements of that jurisdiction may prohibit you from dealing or otherwise transacting in that jurisdiction. No member of the Harrison Rowe Group will be liable for any breach of local law or regulation that you may commit as a result of using and accessing a website in a country in which you are not resident.

Please be aware that some of the products and services listed within the Site and those provided by any other Harrison Rowe Group members or third parties that may be accessed via a link from this Site may not be suitable for all investors. Always read the product information fully before committing to any contractual agreement.

All products or services provided to you by us or any other Harrison Rowe Group member shall only be available in the jurisdiction/s within which the member providing the product or service is authorised to operate.

You agree that any of the products or services provided to you by us or any other HR Group member shall be deemed to be provided in the jurisdiction within which the member providing the product or service is authorised to operate.

No offer

Information or opinions contained on this Site or in any Local Sites do not constitute an offer to sell or a solicitation, or offer to buy, any securities or financial instruments or investment advice or any advice or recommendation in respect of such securities or other financial instruments.

Should you seek to rely in any way whatsoever upon any Content contained on this Site, you do so at your own risk.

Before you make any decision or take any action that might affect you or your personal finances or business, you should always consult a suitably qualified professional adviser(s) to obtain appropriate financial, legal, accounting, tax and other advice.

No warranties

Other than the warranties and representations contained in these Terms, all other warranties and representations, whether express, implied or statutory are, to the fullest extent permitted by the law, excluded. We do not exclude or restrict our liabilities or duties to you where or to the extent that this is prohibited by law or regulation. Use of this Site is at your sole risk.

We do not represent that:

  • any information contained on this Site will be accurate, complete or up to date or meet your specific requirements,
  • this Site will be available,
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We do not provide any guarantee about the accuracy, functionality or performance of any third party software, Content or equipment used in connection with this Site.

Exclusion of our liability

To the extent permitted by law, neither we nor any member of the Harrison Rowe Group shall be liable for any damage, loss or liability (whether arising in contract, tort, including negligence, or otherwise) arising out of or in connection with:

  • your use of this Site,
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The above exclusions apply to any damage which is direct, indirect, special, incidental or consequential or consists of loss of profits, business, opportunity or data.

All of the above exclusions apply even if you have advised us or any other member of the Harrison Rowe Group of the possibility of the above types of damage, loss or liability.

Password and security

In order to use the Site or one or more parts of it, you may be required to become a registered user. In order to become a registered user we will issue you with one or more of the following, namely, registered username, password other security identifier (‘Password’) in accordance with our procedures in place from time to time.

You will keep your Password secret and confidential at all times. Your Password will allow you to access your personal and confidential account and/or financial information.

You must tell us immediately of any unauthorised access to the Site using your Password or any unauthorised transaction or instruction which you know of or suspect of if you suspect someone else knows your Password. We will need you to help us and any law enforcement agency in trying to recover any losses. We may disclose information about you or your account to a law enforcement agency or other third parties if we think it will help prevent or recover losses.

You are wholly responsible for use of the Site by any person using your Password.

We reserve the right to suspend access to the Site in the event that we suspect that an unauthorised person is attempting to access the Site using your Password.

Your obligations

Security – it is your sole responsibility adequately to:

  • protect and back up your data and equipment,
  • undertake reasonable and appropriate precautions against any computer virus or other destructive materials or elements, and
  • ensure that your computers and your access to this Site are adequately secured against any unauthorised users.

Your use of this Site – you may not use this Site or permit others to use this Site:

  • in any way (including via electronic means) and for any purpose which is unlawful, defamatory or libelous, offensive, abusive, indecent, menacing or threatening or in any way that infringes any intellectual property rights or breaches any obligations of confidence, or
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You undertake to comply with any terms notified to you as required from time to time by any third party supplier of data or services to this Site, including but not limited to, where necessary, entering into a direct agreement with such third party in respect of your use of their data.

Third party site and endorsement

  • Links to Third Party Sites – where we provide hypertext links to other locations on the Internet, we do so for information purposes only. We are not responsible for the content of any websites or pages of third parties linked to or from this Site. Following links to any websites or pages of third parties shall be at your own risk. We shall not be responsible or liable for any damages or in any other way in connection with such linking of those websites or pages.
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Links to our site

Neither you nor any other party may use any part of this Site on any other website, or link any other website to this Site, without our prior written permission.

We are not responsible for the set-up of any link from a third party website to our Site.

Neither you nor any other party may deep link to, frame, spider, harvest or scrape the Content or otherwise access the Content for any purposes, or use any machine, electronic, web based or similar device to read or extract the Content by machine based or automated means, without our prior written permission.

Intellectual property rights

  • Our Rights – all intellectual property rights (including, without limitation, copyright, database rights, design rights, patents and trademarks) in the Content are owned by or licensed to us unless otherwise stated.
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    • create any data base in electronic or structured manual form by systematically downloading and storing all or any of the Content; or
    • redistribute any of the Content (including by using it as part of any syndication, content aggregation, archive or similar service); or
    • remove the copyright or trademark notice from any copies of Content made in accordance with these Terms.

Internet and e-mail communications

Messages sent over the Internet (including e-mail) cannot be guaranteed to be completely secure as they are subject to possible interception, monitoring, delay, loss or alteration.

Neither we nor any other member of the Harrison Rowe Group are responsible for any such messages nor liable to you or anyone else for any damages or otherwise in connection with any messages sent by you to us or any other party or any messages sent or appearing to be sent by us or any third party to you over the Internet (including e-mail). You should not include any sensitive or confidential information in such messages.

Our monitoring of communication

To help us improve our service and in the interest of security, we may monitor and/or record communications (whether over the Internet, telephone or otherwise) between you and us. All recordings are our sole property.

Data protection and Privacy

Cookies

Governing Law

These Terms are governed by and are to be interpreted in accordance with the laws of UK.

The courts in England and Wales will have non-exclusive jurisdiction in respect of any dispute which may arise in connection with the Terms or your use of this Site.

Weekly Market Update February Sunday 23rd 2020

Mixed week for markets despite encouraging economic indicators & expectations for Chinese stimulus

It has been a mixed week for markets, with equity markets on course to record their first weekly loss in a month. This is despite rising expectations for Chinese authorities to increasingly focus on reviving their economy post the outbreak of the coronavirus and the release of reassuring leading economic indicators from the Eurozone and the UK. The softness in markets may be explained by a cluster of new coronavirus cases in Beijing and South Korea. Or it may simply be an air of caution, following the markets rallying hard over the past month. Investors have focused on loose monetary policy from central banks and the knowledge that previous coronavirus epidemics have tended to be buying opportunities rather than a reason to panic.

As of 12 pm London time, US equities are down 0.21% over the week, whilst US technology stocks are up 0.2%. This is despite Apple warning this week that the supply of iPhones will be temporarily constrained, as Chinese factories take longer than expected to get back up to speed following the outbreak of the virus. This impacted several technology companies in the Apple supply chain. European equities are down 0.1%, whilst UK equities gained 0.2%. Australian equities climbed 0.1%, whilst Japanese equities fell 1.7%, as the latest GDP data suggested that Japan is on course for a technical recession, defined as two consecutive quarters of negative growth. Japanese growth has been hit by both the coronavirus and the increase in consumption tax in the final quarter of last year. Emerging markets are down 1%, although domestic Chinese equities were up 4.2% for the week, erasing all the losses from the country’s biggest one-day sell-off in more than four years at the beginning of February.

Government bonds nudged up in price over the week, with the 10-year US Treasury now yielding 1.49%, German Bunds minus 0.43% and UK Gilts 0.59%. Gold rose over 3% to its highest level in seven years, now trading at $1,637 an ounce. Gold is being supported by fears over the coronavirus and increasingly, views being expressed by the US Federal Reserve (Fed) that interest rates will remain on hold for the foreseeable future, even if inflation edges above their 2% target rate.

The oil price rose 1.5%, with Brent crude trading at $58.2 a barrel and US WTI (West Texas Intermediate) $52.9 a barrel. However, the copper price, considered by many as a leading indicator as to the health of the global economy, fell 0.7% over the week.

Chinese authorities increasingly look to revive the economy

At the start of the week, the People’s Bank of China cut rates by 0.1%, signalling to markets that the authorities are increasingly looking to restart the Chinese economy following the outbreak of the coronavirus.

Japan comes unstuck once more following a rise in consumption tax

This news did little to support Japan, as fourth-quarter GDP numbers were released showing the economy contracted by 1.6%, or 6.3% annualised, following a hike in consumption tax. This was despite Prime Minister Abe introducing a number of stimulus measures designed to prevent a repeat of the growth setback in 2014, the last time consumption tax was increased. The tax, equivalent to VAT, increased by 2% on this occasion, up to 10%, triggering a fall in consumption at an annualised rate of 11%. In recent years, Chinese tourism to Japan has become increasingly important, but since the outbreak of the coronavirus, Chinese tourism has all but ceased, leaving the country facing the second quarter of weak growth.

Further encouraging US lead indicators

Encouraging economic data continued to be released from the US, with the Empire State manufacturing survey, released by the New York Fed, exceeding forecasts and recording the highest level since May of last year.

Eurozone PMI strongest since February 2019

It was a similar story for the Eurozone, with the manufacturing PMI (purchasing managers index), considered a lead indicator as to the health of the manufacturing sector, coming in ahead of forecasts at 49.1. This was still below 50, the dividing level between contraction and expansion, however, it was the highest level since February 2019. The slower pace of decline was due to stronger domestic orders in Germany, whilst overseas orders fell away markedly.

UK earnings finally exceed pre-crisis levels for the first time in twelve years

The UK’s flash composite PMI was released for February, coming in at 53.3, the same level as in January, but giving confidence that the UK economy is consolidating post the weakness in the final quarter of last year. UK inflation rose for the first time in six months, with CPI (consumer price inflation) coming in at 1.8%, a significant jump from the 1.3% annual rise in December. However, this remains below the Bank of England’s target of 2%. Wage growth data released this week revealed a slowing down in wage inflation, with average weekly earnings increasing by 2.9% annually, including bonuses. However, once this was adjusted for inflation, and with bonuses excluded, it was still enough to lift the level of earnings above their pre-financial crisis peak for the first time in twelve years. Although earnings are still below pre-crisis levels if bonuses are included. The employment rate, the share of working-age people in work, rose to 76.5%, the highest level since records began in 1971. Whilst unemployment, defined as those looking for work, remained at 3.8%. All in all, despite the continued noise from Brexit since the referendum in 2016, the UK economy has remained remarkably resilient.