Having overseas exposure has proved to be the winning strategy for investors so far this year, with the main UK market indices trailing behind most other big markets in the world. Only the key benchmarks in India, Hong Kong and Japan have fared worse than the FTSE 100, 250 and All-Share.
AJ Bell said: “The UK market continues to struggle with upwards momentum with the FTSE 100 taking another step back on Friday, falling 0.3% to 7,251, whereas markets were racing ahead last night in the US.
“On the London market, utilities were out of fashion once again, so too miners and some of the banks.
“Next week sees results from Ashtead and Morrisons. The market will also get the latest policy decision from the European Central Bank which is President Mario Draghi’s penultimate meeting at the helm before stepping away after eight years in charge to make way for France’s Christine Lagarde.”
MAJOR MARKETS SO FAR IN 2019
China: Shanghai CSI 300 +30.4%
Russia: Russian Trading System +24.9%
US: NASDAQ Composite +22.3%
China: SSE Composite +19.7%
US: S&P 500 +18.7%
France: CAC 40 +18.4%
Germany: DAX Xetra +15.2%
Brazil: Bovespa Stock Index +15.1%
US: Dow Jones Industrial Average +14.6%
UK: FTSE 250 +12.4%
UK: FTSE All-Share +8.7%
UK: FTSE 100 +8.1%
Japan: Nikkei 225 +5.4%
Hong Kong: Hang Seng +3.2%
India: S&P BSE 100 -1.8%