This market commentary has been produced by the Investment Management team at Hanson Asset Management.
July passed in a haze of sporting events; Test Matches, Goodwood, Wimbledon, the British Open and Henley to name but a few. The Greek situation was “resolved” by another EU fudge, exercise in kicking the proverbial can further down the road. The refugee crisis has spread from Italy and Greece to France with thousands of refugees attempting to come to the UK from Calais on a daily basis. All has gone quiet in the Ukraine as some form of impasse has been reached and the sanctions imposed on Russia, together with a falling oil price, have had a serious impact on the country’s economic fortunes and short term outlook. Meanwhile, ISIS continues to cause mayhem wherever they go and the battles for strategic towns in Syria seem to see-saw with great regularity. Turkey has finally become involved, but has bombed the Kurds as well as ISIS, which caused something of an incident in diplomatic channels.
The full report can be downloaded here.
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