Market Analysis – July 2019

 

In the UK, the main blue-chip index, the FTSE 100 was up 2.17% in the month to end on 7,586.78. The mid cap index, the FTSE 250, followed suit, gaining 1.05%. In European markets, the Euro Stoxx saw a drop of 0.20% in the month.

 

In the US, the Federal Reserve cut interest rates at the end of the month, the first cut in a decade. Contrary to expectations, the head of the US central bank said the move might not be the start of a lengthy series of cuts to shore up the economy against risks, including global economic weakness. The Dow Jones and NASDAQ closed the month up 0.99% and 2.11% respectively.

 

On the foreign exchanges, sterling closed the month at $1.21 against the US dollar. The euro closed at €1.09 against sterling and at $1.10 against the US dollar.

 

Brent crude dropped 0.51% in the month, to close at $64.06 a barrel. This drop came despite a bigger-than-expected decline in inventories in the US and a drop in crude production among OPEC members, along with Libya cutting exports. US output remains well supplied. Gold closed the month up 0.32% on $1,413.71.

 

It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor.

 

The value of investments may fall as well as rise. You may get back less than you originally invested.

THE VALUE OF INVESTMENTS MAY FALL AS WELL AS RISE. YOU MAY GET BACK LESS THAN YOU ORIGINALLY INVESTED.

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