ASX All Ordinaries Movement FY 2021. Click to expand.
Throughout Europe, the control of COVID has been problematic with continued outbreaks occurring. Particularly in the first half of the financial year, the pandemic wreaked havoc on local economies while leaders of the EU and UK progressed with the Brexit deal. In the third quarter, like in much of the world, there was optimism surrounding vaccine progress and economic recovery with forecasts suggesting that the UK and Eurozone economies are on track to reach pre-pandemic levels by mid-2022.
In the Australian securities market, the ASX All Ordinaries increased by 26% over the financial year as vaccine-related news generated optimism, the Reserve Bank of Australia lowered the official interest rate to 0.1% and Biden won the US presidential election.