Tomorrow will be the last trading day (LTD) of July.
As explained in the 2013 edition of the Almanac the LTDs of months used to be stronger than average, but in recent years they have been weak. This is quite different from the first trading days of months which strongly out-perform the average for all days, and where the effect has strengthened in recent years.
Since 1984 the market has on average risen 0.14% on the LTD of July, which makes it 5th in the ranking of month LTDs.
Since 2000 the average change on the July LTD has been 0.15% – largely unchanged, with positive returns in 46% of those 13 years.
The following chart shows the FTSE 100 Index returns for every July LTD since 1984.