Investment update - July 2026
read
Published on 31 Aug 2026Global investment markets delivered mixed outcomes in July, with pronounced regional differences. The month was characterised by the resilient economic activity in parts of the global economy, alongside renewed inflation concerns linked to higher energy prices.
US equity markets were essentially flat as the Technology sector declined, reflecting both valuation concerns and questions around the sustainability of artificial intelligence momentum. European and Japanese equities declined modestly, amid more cautious commentary from central banks. In contrast, UK equities delivered a standout performance, supported by meaningful exposure to the commodity and energy sectors, which performed well.
Australian equities also delivered solid returns. Resource equities advanced, as oil prices jumped sharply in response to renewed geopolitical tensions in the Middle East, while industrial commodity prices, such as copper, strengthened following announced policy support from China. Financials performed well in the month, benefiting from higher bond yields.