Australian Value: April 2014
May 19, 2014
The Australian market ended this month higher at 1.7%, as measured by the S&P/ASX 300 Index. The RBA left rates unchanged at 2.5%. The Australian dollar rose against most currencies to US$0.946 during the month, but retreated to end the month at US$0.928 after the release of weaker-than-expected Consumer Price Index data. (All returns stated in Australian-dollar terms.)
Sector performance was once again mixed for the month, although a majority of the sectors delivered positive absolute returns with the exception of technology and healthcare. Defensive sectors, such as utilities and consumer staples were among the best performing sectors in April.