June 2014
The Australian share market continued to move higher during May with the S&P/ASX300 accumulation index rising by 0.7% for the month. The US S&P500 hit a new record high during the month and rose 1.9%.
May is traditionally “confession season” for corporates and for the past 5 years there have been a slew of profit downgrades. This May was notable for the lack of large cap downgrades.
The best performing sector during May was the Energy sector followed by the Utilities sector. The worst performing sector was Metal & Mining and then the Consumer Discretionary sector.
This month we have a look at what Australia needs to do if we are to continue to grow real nominal income per capita at the rate we have for the past 3 decades. As we highlighted last month, there are substantial headwinds. This reality has hit the Federal Budget.
Ralton SMA Monthly Reports