It’s that Rhyme time again - Justin A. Urquhart Stewart's latest commentry

Justin is one of the most recognisable and trusted market commentators on television, radio, and in the press.

Originally trained as a lawyer, he has observed the retail market industry for 20 years whilst at Barclay's Stockbrokers and developed a unique understanding of the market’s roles and benefits for the private investor.

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It’s that Rhyme time again

Well it’s that time again when Doncaster finally appears on the financial calendar – albeit somewhat briefly. It is of course the St Leger meeting at Doncaster races, which is the second half of the old rhyme ‘Sell in May and go away, and don’t come back until St Leger day’.

So should we have obeyed the rhyme? Well the FTSE100 ended up 1.7%, but that hides a pretty erratic time with a low in July of about 4,800 - quite a way below where it stands at the time of my writing (5500). However, contrast this with the FTSE Gilt index which rose by some 5.7% which has been quite remarkable change when you consider the comments earlier in the year of the potential toxic nature of UK debt – Pimco’s comment about nitro-glycerine comes to mind.

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