Lonsec Market Commentary – October 2016

Lonsec Market Commentary – October 2016

The Australian market sold off in October, with the S&P/ASX 200 following US indices down to end the month at 5,229.00 pts. All sectors suffered, with the exception of Materials, which was able to add to large gains over the past five months, returning 1.29% in October, while the Financials sector produced a small positive return of 0.76%, with modest gains from the big four.

Global shares were down in October, with a gradual sell-off in the US and renewed pressure on the UK market. Europe’s largest shares managed to bounce back from recent falls, allowing the European index to finish in positive territory. Global shares, measured by the MSCI World TR Index, returned -1.36% in AUD terms, while the S&P 500 TG Index returned -1.27%, with some pre-election nerves making themselves felt throughout the month

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