The Australian share market managed to make a net gain in the month of October, however volatility increased late in the month, with further signs that COVID-19 is spreading unabated in the northern hemisphere, and political uncertainty with the United States election only a matter of days away.
The Australian share market gave back its recent gains in September, with the All Ordinaries index closing the month 3.8% lower at 6,009.3 points. The result was impacted by a poor last day of the month, with the market falling 1.8% on the 30th as the first United States presidential election debate unfolded.
It was a positive month for investment markets, with the All Ordinaries index closing the month 3.1% higher at 6,245.9 points. The Australian share market followed the lead of global share markets despite the rising domestic Coronavirus cases.
Against the backdrop of a second wave of Coronavirus outbreak centred in Melbourne, the Australian share market finished the month of July flat, with the All Ordinaries index closing the month 0.9% higher at 6,058.3 points.
Investment markets were volatile in June, although we ended the month on a positive note. The benchmark All Ordinaries index for the Australian share market gained by 2.2% in the month, closing June at 6,001.3 points.
Investment markets consolidated recent gains in the month of May. The benchmark All Ordinaries index for the Australian share market gained by 4.9% in the month, closing May at 5,872.2 points.
Investment markets settled in the month of April, with some optimism relating to containment of the spread of Coronavirus and effective government stimulus measures.
The continued spread of Coronavirus has resulted in further carnage across global investment markets, with the magnitude of market falls not seen since the 1987 stock market correction.
As foreshadowed in last month’s newsletter, the rapid spread of coronavirus has resulted in carnage across global investment markets – particularly late in the month as it became apparent that the spread of the virus was far from contained.
The Australian share market started the New Year on a positive note, with the benchmark All Ordinaries index gaining by 4.6% to close the month at 7,121.2 points. However, late in the month, global investment markets pulled-back sharply with concerns around the likely impact of the rapidly spreading “coronavirus”.