The rally in Australian equities which began in June 2012 has continued into the first quarter of 2013. The S&P/ASX 300 Accumulation Index was up 8.04 per cent for the March quarter and has gained 25.44 per cent over the nine months since June.
This has been largely driven by improved investor confidence around the globe as the worst of the European banking crisis appears to have passed and the US economy continues to deliver moderate but relatively steady growth. Investors are now looking for improvement in company earnings to push equity markets higher from current levels.
Provided by IOOF.