FTSE Index derivatives

Last month, U.K. equities rebounded as clearer policy signals and improving domestic conditions brought more clarity to investors. Headline inflation came slightly higher in June versus May, yet the Bank of England left rates unchanged, and markets, however, still anticipate further cuts later in the year.

Against this backdrop, the commodity heavy FTSE 100 Index gained 4.2% for the month as it benefited from supportive commodity prices and strong earnings from energy and financial companies. Meanwhile, FTSE 250 Index was modestly up 1.6%.

Year-to-date, the FTSE 100 Index and FTSE 250 Index are respectively up 11.7% and 6.5%, reflecting resilient performance despite shifting macro conditions.

Notable updates

MSCI Index derivatives

July was another strong month for global equities on the back of progress on U.S. trade agreements and large-cap earnings. The MSCI ACWI PR USD Index gained 1.3%, reaching a series of new highs. This strength reflected investors optimism around trade agreements between the U.S. and its partners; as well as mega-cap technology firms posting strong results. International developed markets underperformed last month with the MSCI EAFE PR USD Index down 1.5%.

Emerging markets ended the month in positive territory with the MSCI EM PR USD Index gaining 1.7%, helped by a 4.8% rally in Chinese equities and supportive commodity prices, though manufacturing data pointed to a potential slowdown of economic output across Asia. The U.S. dollar Index meanwhile was up 3.2%, reflecting a stronger dollar.

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Notable updates

Micro NYSE FANG+ Index futures

The NYSE FANG+™ Index consolidated in July after a significant 48% rebound from its April lows. The index was up 1.6% and is now up 16% year to date.

Micro NYSE FANG+ Futures: YTD ADV of 2,830 lots, representing $218 million in notional daily volume; OI set a month’s end record at 18,783 lots or $1.4 billion in notional value.

For more details: FANG Futures