July 2026 Market update

Overview

Global markets experienced a volatile month in July as investors balanced another strong corporate earnings season against renewed geopolitical tensions and increased uncertainty over tech stock valuations.

UK investors ended the month with a 1.4% decline from global stocks, however markets remain up 17% YoY, highlighting the strong recent performance.

Market leadership became less concentrated over the month, with the struggles in the technology sector being partially offset with renewed strength in more cyclical parts of the economy.

These areas were aided by economic activity proving more resilient than expected while corporate profitability remained robust.

Full update below…