UK Market Barometer: May

UK small-cap value stocks had an oustanding month, helped by the economic recovery and a number of outperforming companies

James Gard 3 June, 2021 | 9:25AM
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Global stock markets had a minor sell-off in early May but then maintained their upward direction, despite concerns over inflation as the world economic recovery cranks up. Value stocks still have the upper hand over growth so far this year, which is reflected in the performance of the UK stock market. 

It was another positive month for the large value stocks in the Morningstar UK Index such as Lloyds Banking Group (LLOY), but large growth stocks like retailer Next (NXT) also put in a respectable showing. Both styles were up just under 2% in May. But it was small-cap value stocks that led the charge in May with a 4.32% rise, helped by outsized gains from the likes of infrastructure group John Laing (JLG). While mid-cap value shares had a less impressive month, in the year to date these stocks are ahead of all other styles and sizes with a return of 18%, compared with 15% for large-cap value and 14% for small-cap value.

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James Gard  is content editor for