Share Market Update.In local currency for the month of November, the All Ordinaries Index (-7.8%) underperformed against the US S&P 500 (-7.5%), the World MSCI ex Australia Index (-6.7%) and the regional MSCI ex Japan Index (-6.7%). Australian Equity Market Sector Performance. Australian Equity Market Sector Performance to 30 November 2008, over various periods of up to 12 months, is summarised in the table below:
Property (+0.2%) was the only positive contributor during the month. The other relatively good performers were Telecommunication Services (-1.1%) and Utilities (-1.2%). Interest Rates. Official cash rate in Australia was reduced to 4.25% from 5.25% on 3 December 2008. In the US, the target for the Federal Funds rate is currently 1.00%. 2008 is a year most investors would prefer to forget.
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 8 December 2008. |
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