The Australian share market bounced back from a disappointing June to gain 4.2% in the month of July, with the All Ordinaries Index closing at 5,681.7 points. The positive result came as negotiations between the Greek government, the European Commission and the International Monetary Fund advanced.
The Australian share market closed the month down 5.6%, with the All Ordinaries Index closing at 5,451.2 points. For the 2015 financial year, the All Ordinaries Index gained a modest 1.2%.
The Australian share market closed the month flat, with the All Ordinaries Index steady at 5,774.9 points. The Australian share market is clearly experiencing a period of consolidation following the strong performance in the first quarter of 2015.
Global shares were also relatively subdued in May with the US Dow Jones Index gaining 1.0% the London FTSE gaining 0.3%, the Hong Kong Hang Seng Index falling 2.5% and the Japan Nikkei 225 Index the standout performer gaining 5.3%.
Last year's tough budget has been followed up with a budget aimed squarely at growing the economy.
According to Federal Treasurer Joe Hockey, this is a "responsible, measured and fair" budget with generous tax cuts for small business and a range of youth unemployment and infrastructure spending initiatives designed to stimulate growth.
Importantly, the government kept to its promise of no new taxes on superannuation. However, the budget contains significant changes to the age pension assets test and childcare subsidies.
The Australian share market closed the month flat, with the All Ordinaries Index declining 0.6% in March to close at 5,861.9 points. Global shares were mixed, with the US Dow Jones Index falling 2.0%, the London FTSE falling 2.5%, the Hong Kong Hang Seng Index gaining 0.3% and the Japan Nikkei 225 Index gaining 2.2%.
It was another stellar month for the Australian share market, with the All Ordinaries Index increasing by 6.2% in February to close at 5,898.5 points. The Australian share market has now increased by more than 9% for the 2015 calendar year, outperforming even the most optimistic forecasters’ expectations.
It was a positive start to 2015 for the Australian share market, with the All Ordinaries Index increasing by 3.0% in January to close at 5,551.6 points. The positive result came despite fresh Eurozone debt concerns following the Greece election result.
It was another volatile month for the Australian share market, with the All Ordinaries Index increasing by 1.7% in December to close 2014 at 5,388.6 points. For the 2014 calendar year, Australian shares gained a modest 0.7% (although when allowing for dividends the total return was more like 5%).
The Australian share market gave back its gains from October, falling 3.8% in November to close the month at 5,298 points. Australian equities underperformed global equities, largely on the back of falling commodity prices, although further political uncertainty didn't help matters.
Global shares across the board were generally stronger in the month, with the US Dow Jones Index gaining 2.5%, the London FTSE gaining 2.7%, the Hong Kong Hang Seng Index flat and the Japan Nikkei 225 Index gaining 6.5% for November.
The share market finished the month of October strongly with the All Ordinaries index gaining over 4% to close the month at 5,505 points. As I noted in last month's newsletter, the September market decline did not look like the commencement of a systematic decline – and it is welcome news for investors to see the share market recover strongly.