April’s Performance Overview
- Equity markets remained volatile during April.
- Early strength soon gave way to another round of profit taking driven by the IMF cutting its growth forecasts for the US (higher oil prices).
- Another large aftershock in Japan increasing concerns around nuclear fallout risks and a pull back in commodity prices increasing investor concerns about the sustainability of recent rises.
- Ongoing strength in offshore markets following continued positive surprises in US corporate results saw the Australian market (ASX200) rally before another round of selling on the back of the strong AUD saw the market finish April down 0.3%.
Download the Wrap Up of the Market for April 2011 here.