Global sharemarkets rose in June, led higher by the US sharemarket, with US US technology companies continuing to lead the way.
European markets fell amidst heightened political uncertainty across Europe.
NZ’s sharemarket fell -1.2%, reflecting the ongoing weakness in the local economy. Companies exposed to the local economy continued to underperform.
Australian equities rose 1.0% in June, benefiting from global developments but faced a headwind of likely higher interest rates after inflation surprised to the upside.
Fixed income offers an attractive yield with the potential for capital gains from declines in interest rates.