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YOU AM market commentary: August

  • 2 minute read

August was a calmer and more rewarding month for investors, with most major markets recovering the ground lost during July’s turbulence. Many of the technology and “AI” related shares that were sold off heavily in July rebounded strongly, as investors regained some confidence in the returns that may be achieved from record levels of AI spending. The tech-heavy Nasdaq 100 index rose +3.4% over the month, with some of the companies that had fallen furthest bouncing back the hardest. This recovery in sentiment was also felt across Asia. Japan was among the strongest major equity markets, up +2.6%, while Emerging Markets recovered +2.6% despite Chinese equities falling -1.1%.

In commodities, ongoing tensions in the Middle East continued to support energy prices and the Bloomberg Commodity Index, a broad measure of global commodity prices, rose a further +7.4% in GBP hedged terms, having already risen +7.6% in July. Encouragingly, and in contrast to July, bond markets took this in their stride: the Bloomberg Global Aggregate Index of global fixed interest securities edged up +0.1% in GBP hedged terms and longer dated US government bonds, whose prices are more sensitive to interest rate moves, also recovered some ground. Closer to home, the UK equity market paused for breath after being one of the best performers in July, with the FTSE All Share rising a more modest +0.7%.

All performance figures are stated in Sterling terms unless otherwise specified.

Any opinions stated are honestly held but are not guaranteed and should not be relied upon.  

The information contained in this material is for information only and is not to be regarded as an offer to buy or sell, or the solicitation of any offer to buy or sell, any investments or products.

All the data contained in the communication is believed to be reliable but may be inaccurate or incomplete.

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