Share Market Update.In local currency for the month of May, the All Ordinaries Index(+2.1%) outperformed against the US S&P 500 (+1.1%), the world MSCI ex Australia Index (+1.1%) and the regional MSCI ex Japan index (-2.1%). Australian Equity Market Sector Performance. Australian Equity Market Sector Performance to 31 May 2008, over various periods of up to 12 months, is summarised in the table below:
The best performing sectors for the month of May were Energy(+19.7%), Information Technology (+6.1%) and Telecommunication Services (+4.2%). The best performing stocks in the ASX 200 (price) index were Sundance Resources (+66.7%), Felix Resources (+58.2%), Emeco Holdings (+43.8%), Fortescue Metals Group (+43.7%) and Arrow Energy (+42.3%). The worst performing sectors for the month were Property (-9.2%), Industrials (-2.9%) and Healthcare (-2.3%). The worst performers in the ASX200 (price) Index were Allco Finance Group (-58.1%), Babcock & Brown Power (-29.6%), Transfield Services (-27.0%), Perilya (-26.3%) and PMP Ltd (-25.9%). Interest Rates. Official cash rates in Australia remain at 7.25%. In the US, the target for the Federal Funds rate is currently 2.00%. Beyond the Bowser - How Rising Oil Prices can affect the Global Economy. Recently, oil prices hit a new record of nearly $US139 a barrel. This is roughly double the levels a year ago, and nearly thirteen times above their 1998 low point.
Prior to acting on the above information please speak with your financial adviser and/or taxation accountant, so they can assess your situation and evaluate the relevance of this information in relation to your current circumstances. Perks Wealth Management Pty Ltd |
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* Please note, these rates are provided as at 10 May 2008 |
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