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Weekend Roundup - Encouraging news out of the US.

Returns of selected markets over the last week and since 1st January. This week is sorted by the week. Sorted by the last year can be found at the end of this post.

A much better week for financial markets, helped by better-than-forecast June inflation in the US. The headline number of 3.0% was below expectations of 3.1%, and in what was even better news, core inflation dropped to 4.8% from 5.3%. While markets still expect a quarter-point increase in interest rates this month, it could be the last. The $US and Treasury yields tumbled. (Bottom rows of the table above). Commodities had a good week (top rows of the table above).

Let’s hope the UK can follow suit and post some better-than-expected numbers.

JIC Portfolio

The JIC Portfolio is down 8.9 per cent in 2023 v +1.7 per cent for the FTSE All-Share (TR) Index.

For the five years to 14th July 2023, it is up 45.4 per cent. Over the same period, the FTSE All-Share TR Index was up 15.2 per cent.

The AIM All-Share is down 9.7 per cent this year, the FTSE 250 is down 1.5 per cent, and FTSE Small Cap is down 0.2 per cent.

JIC Funds' Portfolio

The Funds’ Portfolio is down 4.3 per cent this year v +6.7 per cent for the FTSE All-World (GBP, TR) Index.

It is up 22.7 per cent since its inception in July 2020. Over the same period, the FTSE All-World GBP TR Index is up 33.2 per cent.

Big Movers over the last week

Positives: Sylvania Platinum +14.8 per cent and Niox +10.9 per cent.

Negatives: None - the worst was Brooks Macdonald -3.2 per cent.

New Three-Month/All-Time Highs last week

Niox, Shoe Zone and Brooks Macdonald

New Three-Month Lows

Polar Capital Holdings, Unilever, Polar Capital Global Healthcare, BH Macro, Schroder UK Mid Cap, VT Argonaut Absolute Return.

Trades and News

A fantastic update from Shoe Zone, robust results from Me Group and Polar Capital Holdings, and Brooks Macdonald posted encouraging 30th June AUMs.

No trades in either portfolio.

Ex-dividends and Upcoming Events

On Thursday, Shoe Zone went ex-dividend 2.5p per share and Schroder UK Midcap, 5.5p.

Based on last year, there could be updates from Sylvania Platinum and Niox next week.

Hargreaves Lansdown posts a trading update on Wednesday, and IG Group and Howden publish results on Thursday.

No ex-dividends next week.

Cash Holdings

0.5 per cent in the JIC Portfolio and 0.3 per cent in the Funds' Portfolio.

31.8 per cent of the JIC Portfolio comprises six commodity holdings – up from 31.4 per cent last week.

Enjoy the weekend.



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