Tomorrow, Thursday, will be the first trading day (FTD) of August.
As explained in the 2013 edition of the Almanac, the market has a tendency to be strong on the FTD of a month. And this effect has been even more pronounced in recent years.
Since 1984, the FTSE 100 Index has risen on average 0.03% on the August FTD – ranking it 7th of all the monthly FTDs. The index has had a positive return on this day in 62% of years since 1984.
The following chart shows the returns for every August FTD since 1984.