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DelphiNews May 2016

I’m pleased to enclose the latest edition of DelphiNews.

Market Update

The recovery in equity and commodity prices continued in April helped by reasonable economic data and commentary from central banks, whilst oil prices continued to move higher, up another 20% in April.

In the United States GDP growth was disappointing for the quarter, whilst GDP was stronger than expected in Europe.

China quarterly growth figures were reasonably solid, whilst in Japan deflation pressures continued with CPI falling 0.1% year-on-year.

At home the RBA cut the cash rate from 2% to 1.75% and Australian business conditions and employment levels remained strong.

Economic Update

In the latest Economic Update, John Owen Portfolio Specialist at MLC, reviews events in Australian and Overseas markets during April. John notes that despite a late in the month sell-off in response to the Bank of Japan’s (BoJ) decision not to extend its monetary policy stimulus program, share market returns in April were largely positive, though modest in nature.

Australia’s share market did very well, outperforming its global peers. The S&P/ASX200 Accumulation Index was up 3.4% in April. Most of this rise was due to the price strength of many resources and energy stocks as the oil price increased 18% and the iron ore price rallied a further 15%.

Australian appetite for longevity products continues to grow

Australian accumulators and pre-retirees would invest on average at least 55% of their super savings in a longevity protection product according new research released recently. Full details are contained in the article below.

Five ways to make technology your best friend

If you are still handing your smartphone to an eight year old to sort out, below are five handy tips to make technology work for you.

Please contact us if you have any questions regarding your financial requirements or this month's articles.

 

Regards

Vince Dore CFP
Director