Sell In May and come back again on St Leger Day?

Any investors who followed the old market maxim “Sell In May” won’t feel too sore, as the FTSE 100 made awfully hard work of scratching out a 2% capital gain during the summer months.

But a gain is a gain and the index’s ability to make any progress at all in the face of the ongoing Brexit negotiations, heated rhetoric between North Korea and the USA and a spotty summer reporting period from UK stocks may further embolden those clients who are bullish of UK stocks.

They may be adhering to another adage, namely that “markets climb a wall of worry,” but they may also be looking forward to seeing the results of the second half of the “Sell in May” message, which is “Come back again on St. Leger day.”

Saturday 16 September was St. Leger day this year, as Doncaster’s Town Moor track hosts the final ‘Classic’ horse race of the Flat season, so invetors may now feel this is the time to assess their strategy as we prepare for the run-in to the year end.