US
- The US economic indicators point to the recession coming to an end, however, little encouragement from the consumer sector as retail sales disappoint amid a weal labour market.
Europe
- The summer rally in equities extended for another month as stocks reacted from the economic data and the positive earnings. European equities registered the strongest gains due to France and Germany emerging from the recession. Although unemployment still rises.
UK
- The UK equities has had another positive month. Cyclical sectors outperformed, while defensive areas of the market lagged.
Asia Pacific
- The Japanese economy has returned to growth, expanding at an annualised rate of 3.7% in the second quarter, although some disappointment in Chinese economic data prompts profit taking.
Emerging Markets
- Latin America also advances, benefiting from upbeat US economic data.
Monthly Market Roundup August 2009
Mark Hollingsworth, Director, Hollingsworth International Financial Services Ltd
Tel: +357 99066840 (Cyprus Mobile), +356 21316298 (Malta Office)
e-mail: info@hollingsworth-int.com Website: http://www.hollingsworth.eu.com/
Authorised by the Malta Financial Services Authority to provide investment services, license IS/32457
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