View more on these topics

Investment analysis

RAJ hallen Investment director,Premier Fund Managers

Most of the major global bourses performed strongly in April, with

the benchmark FTSE World index advancing by 7.7 per cent during the

month.

The end of military conflict in Iraq boosted sentiment early on, with

support coming from a collection of better than expected corporate

earnings&#39 data throughout April.

The one exception was the Japanese market, which was hit by pension

fund selling. Economic news continued to be mixed.

In the US, indices were spurred on by news from the Gulf early in the

month and mostly ignored poor employment numbers and a bigger than

expected fall in business activity confirmed by the Chicago

purchasing managers&#39 index.

Wall Street was also boosted by positive earnings&#39 news from a broad

spectrum of companies, President Bush&#39s support of another term for

Alan Greenspan as Federal chairman, better than forecast retail sales

figures and the consumer confidence index, which came in well ahead

of expectations.

After a faltering start, predominantly due to the poor-performing

insurance sector, European bourses ended the month sharply higher and

were comfortably the month&#39s best performers – the representative

FTSE Eurotop exc UK index gained 14.5 per cent.

Strong US sales figures saw the German car manufacturers BMW,

DaimlerChrysler and Porsche drive markets ahead early in April. This

was followed by encouraging forward guidance from Swiss Life which

helped the region&#39s insurers.

The FTSE 100 index started the month perilously close to the 3,500

level and then flirted with the psychologically important 4,000 mark

towards the end of April before closing the month 9 per cent higher

at 3,926.

Markets shrugged off CBI data, which showed that retail sales for

March had fallen at their highest annual rate in more than a decade.

Both the FTSE 250 and the Hoare Govett smaller cos indices

outperformed the main index, rising by 11.6 per cent and 9.8 per cent

respectively.

Recommended

Firms lose authorisation for flouting watchdog

The FSA has removed the authorisation of two IFA firms, saying theyhave flouted the Financial Ombudsman by not paying awards madeagainst them.Tudor House Financial Services, of 34 Chester Street, Wrexham, failedto comply with five ombudsman awards and failed to cooperate at allin dealing with another ombudsman investigation into a complaint madeagainst it by a client.Action […]

Chartwell Investments – Chartwell Capital Secure Plan

Type: Guaranteed equity bond Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £3,000-no maximum, £7,000 Isa Term: Six years Guarantee: Original capital returned in full regardless of performance in index Return: 20% growth at the end of three years if index grows by 20% or more, 30% growth at the […]

Pat Meehan

L ondon and Bristol-based IFA Holden Meehan has seen steady organicgrowth over the past 17 years. After starting out with just PatMeehan and co-founder Peter Holden, the firm now boasts 25 RIs and abook of high-net-worth clients.Holden parted from the company four years ago and Meehan has clearideas about the firm&#39s future strategy, based on […]

B&CE&#39s Jory joins ABI pensions committee

Construction workers&#39 affinity group B&CE deputy chief executiveJohn Jory has been appointed to the ABI pensions & savingscommittee.Jory&#39s remit on the committee includes development of policy andpensions on the European Union and supervision of sub-committees andworking groups.The affinity group is the UK&#39s biggest stakeholder pension provider,with over 200,000 policies receiving regular employee and emp-loyercontributions.The B&CE […]

InFocus - thumbnail

In Focus — February 2015

Jelf Employee Benefits looks at the issue of paying anaesthetist fees when the patient had no chance to discuss or agree to them prior to care; and provides recommendations for avoiding this scenario.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment