Share markets started the year in a positive mood despite some old and new concerns. This is because there was ample good news to offset the bad, such as the improving global economy and earnings backdrop, expectations of further global monetary easing, and the avoidance of a US debt ceiling stand-off.
Global shares returned almost 10% for the quarter with heavyweights Japan, the US and the UK driving the market higher. New Zealand shares had another strong quarter, confounding reports of overvaluation, with solid earnings, increased dividends, and an improving economic backdrop helping the market reach new highs.
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