GTC WM Trendline – June 2015
Global – “Greeks bearing gifts?”
The first half of the year and more importantly the last three months in particular, have been more than eventful. In spite of disappointing U.S. economic data, the Greek financial crisis and concerns over a slowing Chinese economy, world equity markets have managed to weather the storm and although not entirely unscathed, have retained a remarkable degree of buoyancy.
Domestic – Molefe to the rescue!
The June quarter closed off on a subdued note, with equities and bonds off their previous highs. The JSE/ALSI closed the quarter at 51806 points, some 3382 points below its all-time high of 55188, recorded on 26 April 2015. All other major tradable indices closed down, except for the IND125, which yielded a positive result of 0.94% for the closing month. It is indicative of the volatility of markets that on a year on year basis the Oil and Gas index returned 51.8%, whilst Platinum and Precious Metals lost 42.7%, with Industrial Metals plummeting 52.3%.
