Market Wrap

The month of February was a strong one for the S&P/ASX 200, with the benchmark index recovering all of January’s losses and then some, advancing 4.14%. The rally was driven by a reasonable company reporting period where steady earnings growth, high payouts and hints of better trading conditions boosted investor confidence.

Overall earnings season on the whole was solid with analysts upgrading second half expectations. Despite the mild uptick to expectations, earnings per share estimates continue to track below trend with upward revisions not flowing through to FY15.

Weekly Indices:

The Australian All Ordinaries Index has moved down decreasing by -2.1% since closing last Friday to 11:30 am today.

The rest of the world as measured by the MSCI index decreased -1.0% in A$ from closing last Friday to end of trade Thursday.

Have a good weekend,

The team at IPS