The markets: resilient
The share-markets were seemingly resilient this week, with each of the All Ords and the S&P 500 rising slightly. This in the face of the 'Sell in May, and go away' fear.
Of the 20 Leaders, the outliers this week were:
Plus: Macquarie Bank (higher expected EPS) and Woolworths (rumours of a private equity bid) each bounced over 7%
Minus: AMP lost about the same amount on poor new business inflows.
But trading was thin, without significant news. Perhaps the ennui of elections has put investors to sleep.
More generally, the Australian market, including dividends, has staggered into a positive return for the FYTD, plus 3.7%. At the end of February the figure was minus 6.4%.