UK Equity Income monthly commentary July 2026
A meaningful increase in the price of oil was the biggest external financial parameter to affect global capital market in July. Exchange rates were not a big factor although Sterling improved a little against the dollar during the month.
Despite the negative impact of higher energy prices, the UK stock market made satisfactory progress over the month and took most indices to new all-time highs.
Given that background it is no surprise that the best performing sector was Energy with a gain well into double digits far outstripping any others. Communication Services, Financial Services and Real Estate lagged some way behind, but all delivered high single digit returns.
The remaining sectors struggled to deliver modest positive performance with the exception of Health Care, Unclassified and Utilities that all declined over the month.
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