- One addition to the Funds Portfolio
- A selection of alterations to the JIC Portfolio
The UK and continental European equity markets were held back by election fever in June. Despite the UK election result looking like a foregone conclusion, the leading UK indices marked time after previous months' gains. The FTSE All-Share was down 1.2 per cent, but the indices more sensitive to the health of the UK economy were down more; the FTSE 250 fell 1.9 per cent, and the Aim All-Share fell 4.9 per cent.
In France, President Macron's decision to call a general election following the success of the 'right' in the European elections was considered a reckless gamble. The CAC 40 was down 6.2 per cent over the month, and the yield on French government bonds increased. The malaise spread to other European markets, with the Italian MIB down 4.1 per cent and the Dax down 1.4 per cent.