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The UK Stock Market Almanac 2016: Seasonality analysis and studies of market anomalies to give you an edge in the year ahead by Stephen Eckett

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Days of the month

On page 78 we looked at the behaviour of the UK stock market in an average month; here we will look in some detail at the historic behaviour of the market on each day of the month.

The following chart plots the average daily returns for the 31 calendar days in a month for the FTSE 100 over the period 1984-2015. For example, since 1984, the FTSE 100 has on average increased 0.27% on the 1st day of each month.

Note: the chart here plots the average returns on the calendar days of the months, whereas elsewhere in the Almanac we usually look at just the trading days.

Some observations:

  1. The first day of each month has the highest ...

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