ii view monthly round-up: May 2026 – more record highs
Growing hopes for AI and the possibility of a peace deal in the Middle East pushed US and UK markets higher last month. Analyst Keith Bowman looks at the major corporate events.
1st June 2026 13:30
by Keith Bowman from interactive investor
ii view monthly round-up: May 2026 – more record highs
US markets hit record highs for fun during May, with the Nasdaq Composite, S&P 500 and Dow Jones climbing 8.3%, 5.1% and 2.8% respectively. The FTSE-All Share rose 0.7%.
Analyser and moderniser of data Snowflake Inc Ordinary Shares (NYSE:SNOW) proved the standout winner in May, with shares in the New York listed company soaring 87%. First-quarter sales and profits comfortably beat Wall Street estimates, with the Montana headquartered company raising full-year sales growth forecasts to 31% or $5.84 billion from a previous 27% estimate.
Snowflake unites and analyses data from servers across the globe on behalf of customers like ExxonMobil and Citigroup. Its services allow data to be more easily used for AI purposes in the future. Customer numbers rose 38% year-over-year to over 13,900 including over 750 customers that have trailing 12-month product revenues of more than $1 million.
Elsewhere, tech-titan Apple Inc (NASDAQ:AAPL) rose 15% as group estimates for sales during the current quarter to late June exceeded estimates. The iconic phone maker also announced a new CEO to take it forward in the new AI era. John Ternus, current head of hardware engineering, is to lead the company from early September, replacing current head Tim Cook.
In the UK, Dr. Martens Ordinary Shares (LSE:DOCS) rallied by close to a fifth. A recovery plan led by former Apple executive Ije Nwokorie appeared to take a big step forward. Tight cost control helped gross profit margin increase 1.2% to 66.2%, pushing annual adjusted pre-tax profit up 61% from a year ago to £55 million.
Canteen provider Compass Group (LSE:CPG) pointed 14% higher over the month. The FTSE 100 company, which serves over five billion meals a year to staff of thousands of businesses and organisations, increased full year profit hopes. Alongside a 13% hike in the interim dividend to 25.5 US cents per share, the Surrey headquartered group also predicted growth in annual operating profit of 11% or more. That was up from a previous 10% forecast.
UK property owner Land Securities Group (LSE:LAND) also offered cheer. Full-year results to late March saw the FTSE 100 company detailing the fastest growth in rents for almost 20 years. Group properties include offices in the City of London and an interest in Kent's Bluewater shopping centre.
Like-for-like (LFL) net rental growth of 4.6% for the year helped drive a 2% rise in the total annual dividend to 41.2p per share. Land shares currently sit on a forecast dividend yield of over 6.5%.
On the downside, the biggest monthly drop in the price of Brent crude oil since the pandemic dragged shares for Shell (LSE:SHEL) 6% lower. First-quarter results also saw the oil major rebalance shareholder returns towards the dividend and away from share buybacks.
A quarterly share buyback programme of $3 billion was down from the previous quarter’s $3.5 billion. An unexpected 5% hike in the quarterly dividend followed a 4% rise in the fourth quarter. Shell shares currently sit on a forecast dividend yield of over 3.5%.
Housebuilder Vistry Group (LSE:VTY) dived 15% in May. In tandem with its AGM, the affordable homes developer predicted lower annual profits and paused the share buyback programme as management looked to focus on reducing group debt.
Vistry partners with organisations such as local authorities and housing associations to develop mixed tenure homes like shared ownership with an affordability focus. Relatively new CEO Adam Daniels is now leading an operational review, with findings expected no later than half-year results due on 24 September.
In the US, and to the downside, shares in membership retailer Costco Wholesale Corp (NASDAQ:COST) fell 6%. Despite benefitting from US motorists searching for competitive fuel pump prices, growth in paid memberships once slowed again. A gain in Q1 memberships of 4.1% slowed from 4.7% in Q2 and 7% in the prior financial year. Broker Morgan Stanley continued to back the company, reiterating its ‘overweight’ stance post the results.
Finally, entertainment giant The Walt Disney Co (NYSE:DIS) dipped 2% in May. Second-quarter sales beat Wall Street estimates, with Disney reaffirming plans to invest in creative storytelling and technological innovation under new head Josh D’Amaro. However, AI and its potential impact on film making remains tough to predict. President Trump's trade policy also potentially deters overseas visitors to the group’s US theme parks.
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