6 August 2014

Weekly Market Update – week ending 1 August 2014

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weekly market updateInvestment markets and key developments over the past week

Global shares had a poor week with worries about the US Federal Reserve (Fed), earnings, more sanctions on Russia, Portugal’s Banco Espírito Santo and Argentina’s ‘default’. This dragged down global shares for July by 1%. Over the week US shares fell 2.7%, Eurozone shares fell 3.5% and Australian shares fell 0.5%. However, it wasn’t all bad with Japanese shares up 0.4% and Chinese shares up another 2.8%. While Australian shares got hit on Friday it came after a very strong month with the ASX 200 up 4.4% in July. The ‘risk off’ move by investors weighed on the Australian dollar and commodities with oil down 7.9% in particular, but bond yields were mixed.

 

Please click here to read full article:  Weekly-Report – 1 August 2014

The author is an employee of Verante Financial Planning in Castle Hill, Corporate Authorised Representative of Magnitude Group Limited, Licence No 221557, Magnitude Group Limited ABN 54 086 266 202.

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