Global share prices weakened over June and investors moved into technology hardware. Elsewhere, oil prices reduced but inflation may continue to rise. 

AI and tech stocks drove market gains in May and oil prices fell despite the continued US-Iran standoff. Further attention on AI is expected with the upcoming IPOs of SpaceX, Anthropic and OpenAI. We include significant exposure to AI in our portfolios but maintain a balanced approach, including attractively valued non-AI firms.

Share prices rose in April, and despite rising inflation, central banks are holding interest rates steady as they assess the impact of the Middle East war. Given ongoing risks in stocks and bonds across Europe and the US, we continue to expand diversifying strategies, first introduced in early 2026.

Global share prices fell in March, but the month saw a strengthening of the US dollar against the pound. Not surprisingly, oil prices rose with fears that inflation may spike as a result. We also consider further economic ramifications of the ongoing conflict in the Middle East.

February saw global stock markets climb - though notably, US shares prices fell. Concern over the disruptive potential of artificial intelligence (AI) and the sizeable investments by major tech companies into AI infrastructure, weighed heavily on US stocks. We also consider possible economic ramifications of the ongoing conflict in the Middle East.

Stock markets reached new highs in January, but US shares continued to lag Europe and Asia. Sentiment remained optimistic, the pound strengthened, and bond markets held steady. Prices for gold and silver reached new peaks as international tensions rose. 

In this update we reflect on 2025, outlining what’s worked and what hasn’t, what needs to change and what doesn’t. We set out the conclusions we have reached and our confident outlook for 2026. 

A monthly market update from our investment team. 

A monthly market update from our investment team. 

Ahead of the upcoming budget, journalists will fill many column inches speculating what the chancellor may or may not do, should or shouldn’t do. Instead of speculating, here’s what the government’s finances actually look like, and a helpful rule of thumb.