Focusing on the longer term

A much better performance from equity markets, with the FTSE All-Share (Total Return) Index gaining 6.4 per cent, leaving it down only 0.8 per cent this year. Other notable gains were the Indian Sensex, +6.7 per cent, Nikkei 225, +4.7 per cent and the Dax, +4.2 per cent. The US was stable, with the S&P 500, Nasdaq 100 and Dow Jones all up around 0.3 per cent. Brent crude rose 7.5 per cent to $74.66 per barrel, its highest level in over three years. Despite this strength, the Russian market was down 7.4 per cent, hit by new US sanctions on seven oligarchs, (and 12 companies they control) with ties to President Putin.