Lonsec Market Commentary – October 2019
Following relatively strong performance in the September quarter, the outlook appears mixed across most sectors. Australian shares were in the red in October, dragged down by the Information Technology (-3.95) and Financials (-2.8%) sectors.
Optimism among investors is being driven by monetary stimulus, signs of a recovery in the housing market, and a soft Australian dollar, which boosts earnings from foreign operators.
Working in the opposite direction is sluggish wages growth, relatively weak building and construction activity, and an uncertain global outlook.
(Lonsec October 2019.)