June was another strong month for global stock markets, following on from a very positive May. US indices rose sharply, led by the Nasdaq, which gained nearly 7%, driven by continued optimism in the technology sector. The S&P 500 also reached new record levels after rising by around 5%. Interest rate cuts by both European and Swedish central banks, reduced concerns about trade tariffs and increased risk appetite among investors contributed to the improved market sentiment.
The Swedish stock market, like the Nordic index, performed more cautiously and ended up around zero. The Swedish krona continued to strengthen, particularly against the dollar, which had a negative impact on returns in foreign holdings for Swedish investors.
Japan continued its strong performance in June, in line with the optimism expressed at our dinner presentation with Japan’s ambassador, Hideaki Mizukoshi. The country is strong both economically and in terms of innovation, and companies such as Sony, Toyota and SoftBank are good examples of the breadth of competitiveness that exists in the country. The Japanese stock market rose by nearly 7% during the month.
US technology companies continued to drive the stock market upwards, in line with the discussions we had during our Future Evening – Perspectives and Innovation. The event highlighted how AI is seriously transforming both business and society. Examples were given in the pharmaceuticals and self-driving vehicle sectors and how AI is being used in practice by companies such as Microsoft, ServiceNow and Gilion.
Please email us to receive Jonas’ publication ‘The importance of being long-term and fact-based in 2025’. Despite recurring crises, the global economy has grown by an average of 3% per year for over a century – a reminder of the importance of maintaining a calm, long-term perspective even in times of change.
As confirmation of our strategy, our Nordic fund Nordic Equities Strategy was recognised in late spring by Lipper France, where it was named the best Nordic fund over the past five years.*
We at Nordic Equities would like to take this opportunity to wish you a wonderful summer!
General risk information:
*There is no guarantee that an investment in the Nordic Equities’ funds will not result in a loss, even at times when financial markets are otherwise performing favorably. Past performance is no guarantee of future return. The value of the capital invested in the Nordic Equities’ funds may increase or decrease and investors in the Nordic Equities’ funds cannot be certain of recovering all their invested capital. The fund’s full and half-year statements are available free of charge on request, please contact us at mail@nordeq.se or at +46 8 545 045 00.
Fact sheets and information brochures are available on request or at www.nordeq.se.
