May has generally been a positive month for global stock markets. The Bank of England held interest rates steady, as did the U.S. Federal Reserve.
A Weak Pound
The pound has been weak in May, after a strong run earlier in 2018. The weak pound and the Bank of England's reluctance to raise interest rates, both are likely reflecting weaker than expected U.K. growth in the early months of 2018. It remains to be seen whether this softness is weather-related, or a signal of a more U.K. negative trend. Nonetheless, U.K. stock markets saw growth in May.
Generally Positive Global Economy
Internationally, most economies continued to perform well with North America and Asia among the better performing regions. In terms of negatives, the Turkish currency and stock market fell in the lead up to elections, and Brazil saw some disruption from a broad trucking strike contributing to Latin American weakness.
Increasing Oil Price
Nonetheless, despite some areas of weakness, the general economic picture appears to be one of steady growth without major trouble spots, though of course things can always change quickly. We've also seen the oil price move up strongly so far in 2018, helping the performance of energy companies. which is one of the top performing sectors of the stock market so far this year.