The Australian share market was down in June with the All Ordinaries index falling 2.8% to close the month at 4,775.4 points. The poor performance comes on the back of a 4.9% fall in May. Notwithstanding the recent pull-back, the Australian share market still recorded a very strong financial year, gaining more than 15%.
Global shares also finished June in negative territory with the Dow Jones Index falling 1.4%, the FTSE falling 5.6%, the Hang Seng falling 7.1% and the Nikkei 225 falling 0.7%.
With tax revenues falling well short of expectations - $17 billion write-down in tax receipts - it has been clear that promises of a return to surplus in 2013 could not be kept.
Set against a backdrop of uncertainty around the global economy and the domestic political situation, the Budget night proved to have no surprises, with the majority of measures announced prior to the night itself.
Increase in Medicare Levy
The Australian share market rebounded in April, with the All Ordinaries index closing the month up 3.8% at 5,168.6 points.
Global shares also finished April in positive territory with the Dow Jones Index gaining 1.8%, the FTSE gaining 0.3%, the Hang Seng gaining 2.0% and the Nikkei 225 gaining 11.8%.
The shift in market sentiment was sparked by positive earnings results in overseas equities, notwithstanding that key economies are still delivering mixed economic results.
The Australian share market took a breather in March, with the All Ordinaries index closing the month down 2.7% at 4,979.9 points. The pull-back was somewhat expected, after a long period of stellar returns.
Global shares were generally well supported in March with the Dow Jones Index gaining 3.7%, the FTSE gaining 0.8% and the Nikkei 225 gaining 7.3%. The Hang Seng once again bucked the global trend, declining 3.1% for the month.
The Australian share market continued its positive start to 2013, with the All Ordinaries index closing February up 4.5% at 5,120.40 points. Global shares were generally well supported in February with the Dow Jones Index gaining 1.4%, the FTSE gaining 1.3% and the Nikkei 225 gaining 3.8%. The Hang Seng bucked the global trend, declining 3.0% for the month.
Investment markets started the year on a positive note, Prime Minister Gillard flagged further changes to superannuation and (in an unprecedented move) the Federal Election date was set....... over seven months away!
The All Ordinaries index closed January up 5.1% at 4,901.0 points. As a result, the All Ordinaries index has now gained in excess of 18% for the financial year-to-date.
Global shares were equally supported in January with the Dow Jones Index gaining 5.8%, the FTSE gaining 6.4%, the Nikkei 225 gaining 7.2% and the Hang Seng gaining 4.7% for the month.
The Australian share market finished the calendar year on 18-month highs, Treasurer Wayne Swan abandoned the idea of a budget surplus, the RBA cut interest rates and the fiscal cliff in the United States was avoided... well for the time being!
It was a flat month for the Australian share market, the RBA kept rates on hold, Barack Obama convincingly won the US election and Green Moon won the Melbourne Cup by a length...
The All Ordinaries index finished November marginally down 0.4% at 4,518.00 points. Global shares were mixed with the Dow Jones Index falling 0.5%, the FTSE gaining 1.5%, the Nikkei 225 gaining 6.3% and the Hang Seng gaining 2.0% for the month.
The Australian share market recorded another month of gains. The All Ordinaries increased by 2.9% to close October at 4,535.40 points. However, investors showed caution with low trading volumes due (in part) to the upcoming presidential election and hurricane Sandy in the United States.
Global shares were mixed as a result of the above issues with the Dow Jones Index falling 2.7%, the FTSE gaining 0.7%, the Nikkei 225 gaining 0.1% and the Hang Seng gaining 3.7% in October.
The Australian share market continued to consolidate recent gains with the All Ordinaries increasing by 1.6% for the month to close September at 4,406.30 points. Aussie shares have now gained 7.2% for the 2012 calendar year.
Global shares were also positive in September, with the Dow Jones Index up 2.6%, the FTSE up 0.5%, the Nikkei 225 up 0.8% and the Hang Seng up 7.2% for the month.