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Financial Market Bulletin July 5th 2010
Markets Stage Broad Retreat
Global equity markets retreated across the board last week as the bears gained the upper hand, sending share prices south as investors headed for the safety of the sidelines. After a more confident start, markets gradually gave ground in the face of poor economic news and data which raised fears of a so-called ‘double-dip’ scenario. Already worried about the impact on future growth of austerity measures being taken by many European countries, investors were additionally forced to think about a possible economic slowdown in two of the world’s largest economies – America and China. Boosted by unprecedented economic stimuli by their respective governments back in 2008-09, the world’s two engines of growth looked to be on track, with China quickly resuming double-digit growth and the US returning to long-term trend growth of around 3.5%.
On Thursday though, the mood changed when it became clear that firstly, the Chinese economy was slowing. The country’s official purchasing managers’ index for June fell from 53.9 to 52.1 - less than expected but still positive (any figure over 50 means positive growth). ..................
contd.......
( The complete text of this weeks Financial Bulletin can be downloaded as a 'pdf' file here. )
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Extract from this weeks Financial Marketing Bulletin, issued by RBA Wealth Management Ltd.
To see the full Financial Briefing Note and to sign up to receive them automatically each week
visit their web site : www.rbawealthmanagement.com or call 01889 568444
