Market Perspective Summary

    Australian Value: October 2012

    October 04, 2012

    The Reserve Bank of Australia cut rates during the month by 25 basis points, down to 3.25%. These increasingly accommodative financial conditions and M&A activity helped the Australian equity market to rally and finish up 2.9%, as measured by the S&P/ASX 300 Accumulation Index. The Australian dollar remained unchanged at US$1.04.

    Sector performance was positive for the month, though only telecom, industrials and financials outperformed the market. Technology, energy and utilities lagged most among the underperforming sectors.

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