Publication of monthly factsheet - Correction

About this update from Uil Finance Ltd Zero Div Pfd Registered Shs 2018-31.10.26

[{"type":"text","content":"\n\n24 June 2024\n \nCorrection: This announcement replaces the announcement 4370T released at 12:29pm on 21 June 2024.  In the first paragraph under 'Portfolio' the text should have referred to UIL (rather than UEM) selling half its shareholding in Novareum.   The full corrected announcement is set out below.\n \nUIL LIMITED\n(LEI Number: 213800CTZ7TEIE7YM468)\n \nPublication of monthly factsheet\n \nThe latest monthly factsheet for UIL Limited (\"UIL\" or the \"Company\") will shortly be available through the Company's website at:\nhttps://www.uil.limited/investor-relations/factsheet-archive\n \nMonthly commentary\n \nPERFORMANCE\nUIL's NAV total return declined by 3.8% in May, underperforming the FTSE All Share total return Index which increased by 2.4% over the month.\n \nGlobal stock markets were mixed in May, as inflation in many jurisdictions proved more stubborn than previously expected. In the US the Federal Reserve kept rates on hold, notwithstanding which the S&P 500 Index strengthened by 4.8% as consumer spending held up and the rally in AI stocks continued. European markets were more benign, but also posted positive performances with the European Central Bank signalling that policy rates would be cut for the first time since 2019 in the June meeting. This follows a period of sustained falls in inflation with concern mounting that the European economy was stagnating. The Eurostoxx and FTSE 100 Indices were up 1.3% and 1.6% respectively over the month.\n \nIn emerging markets, pre-election jitters saw the India Sensex ease by 0.3% and the Mexico Bolsa IPC decline by 2.7%, though both remain close to all-time highs. India GDP growth again exceeded expectations, coming in at 7.8% in the quarter ended March 2024. In Brazil, the Bovespa Index fell by 3.0% after the Central Bank slowed its pace of interest rate cuts. In China, manufacturing activity unexpectedly contracted in May with the Shanghai Composite Index declining 0.6% over the month. Vietnam was a rare bright spot, with the Ho Chi Minh Index up by 4.3%.\n \nSterling strengthened against most currencies in May, up 1.7% versus the US Dollar, 3.1% against the Brazilian Real, and 1.7% against both the Indian Rupee and the Chinese Renminbi. Sterling was broadly flat against the Euro and declined by 0.7% v...

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