For professional clients only. Big Tech continued to climb higher, further raising questions over market breadth. In the second quarter, more sectors in the main US bourses were negative than were positive, whilst larger capitalised companies with strong balance sheets continue to outperform. Meanwhile, politics was front and centre in June, with elections in India and Europe, whilst the UK & US built up to theirs (the Labour party decisively winning the UK election in July).

This months stock selection is Klabin, a leader in the paper and pulp industry, specialising in the production of sustainable paper & packaging solutions. Our ethical news section covers a range of issues, from Lidl working with WWF to reduce food waste, to BP taking a more conservative approach to clean energy.