Market update

A positive month for most asset classes – July market update

July was a positive month for the majority of asset classes, as measures of market volatility remained low and indicators of global growth remained on a firm footing.

What happened in the markets?

  • Asia Pacific and Emerging Market equities continued to lead the way, with a stronger month for global commodity prices and continued US dollar weakness supportive of returns
  • In developed equity markets, tobacco stocks fell heavily on both sides of the Atlantic following the news that the US Food & Drug Administration is considering regulating nicotine levels in cigarettes
  • Despite these headwinds, accommodative monetary policy and a positive start to second quarter earnings season helped US equity markets reach new highs
  • In Europe, the recent strength of the euro, which reached a 30-month high against the US dollar following hawkish comments from the European Central Bank (ECB), acted as a headwind for the competitiveness of European equities, despite solid returns from the banking sector

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I hope you have found this update helpful. Please do get in touch if you have any queries or would like more information.

Important information

The value of investments, and the income derived from them, can go down as well as up and you can get back less than you originally invested. This is not a personal recommendation or advice to invest. Past performance is not a guide to future performance.

Funds may carry different levels of risk depending on the industry sector(s) in which they invest. You should ensure that you understand the nature of any fund before you invest in it.

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