April 2026 Market update

Overview

April saw a strong rally in equities, with global stocks rising 7.2% and several regions reaching new highs.

This strength came despite elevated geopolitical tensions and ongoing disruption around the Strait of Hormuz, highlighting the market’s focus on resilient growth and earnings.

The end of the US - Israeli bombing campaign at the start of the month helped ease immediate geopolitical concerns and supported sentiment, contributing to the rally.

At the same time, the focus has begun to shift beneath the surface: inflation expectations are rising and central banks are signalling a more cautious stance, even as markets continue to price in economic resilience.

Full update below…