Themes from June
Conservative MPs narrowed the choice of the next PM to either Boris Johnson or Jeremy Hunt – the final choice will be made by Conservative party members ending on 24th July 2019.
June 2019 was a strong month for US equities, the S&P 500 had its best month since 1955.
G20 summit, both US and China agreed to restart talks aimed at unblocking the stalemate, however President Trump signalled he was in no hurry to conclude talks.
US Federal Reserve softened its language at its recent meeting, noting trade frictions and moderating global growth stating “we will act as appropriate to sustain the expansion”.
Woodford Equity Income Fund decided to suspend investor cash withdrawals for 28 days following a decision by Kent County Council to transfer £263m.
Companies in which Woodford funds have significant stakes have dropped sharply on the expectation of stake sales.
Millennium & Copthorne Hotels board agreed an offer from parent company City Developments worth 685p per share – so far US holders have not objected.
Merlin Entertainment agreed a 455p cash offer from the Kirkbi consortium comprising the Danish majority owners, Blackstone and CPPIB.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider (Saxo Bank). You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money.