Stock markets yoyoed and closed the third quarterly in roughly the same place as they started thanks to geopolitical concerns at home and abroad. In the UK, the third quarter kicked off with the appointment of hardline Brexiteer, Boris Johnson, as party leader and Prime Minister. His pledge to leave the EU on 31 October provoked fears of a no‐deal Brexit. At the same time, the global economy was beginning to slow and the US-China trade war added to uncertainty.
After significant falls in Q1, stock markets began to level out at the end of March... just in time for the last two weeks of the ISA season. By the close of Q218, the UK stock market had recovered most of its lost ground, with the FTSE 100 and FTSE All Share rebounding by 8% and performing better than most major stock markets in Q2.