UK Market Barometer: June 2021

Large-growth stocks roared back to life last month, but UK small-cap value stocks are still ahead at the midpoint of the year

James Gard 6 July, 2021 | 1:35PM
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After a value rally for most of this year, June was a strong month for growth stocks worldwide, and that is reflected in our lists of best performing funds and trusts last month. Every month we look at how the stocks in the Morningstar UK Index have performed according to size and investing style, and a similar pattern is visible here too. Large-cap growth stocks were the best performers in June, but small-cap value still has the upper hand in the year to date. June returns for Morningstar UK Barometer

The Morningstar UK Index, which covers more than 300 stocks with a market cap ranging in size from a few hundred million pounds to around £100 billion, gained around 1% in June but is up 13% in 2021 so far – compared with a loss of 11% in 2020. Within the index, the performance of the various styles and sizes of stocks was largely undramatic: mid-cap value stocks were down 1.61%, while large-cap value gained 1.19%. Large-cap growth was the standout category with a gain of more than 4% in June, which took the year to date gain to just over 14%. Only 10 stocks make up this category, but it includes dominant stocks like London Stock Exchange (LSEG), up 5% in June, and Ocado (OCDO), which gained 6% last month. Still, both companies’ share prices are under water so far this year.

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James Gard  is content editor for Morningstar.co.uk