InvestNow News – 16th Jan 20 – Mint Portfolio Returns & Commentaries – January 2020
Market overview
Global share markets rose in December while global bond yields drifted higher as geopolitical risk appeared to recede a little. The trade truce between the USA and China continued with both parties making positive comments about a Phase One agreement due for signing in January; while Boris Johnson’s conservatives won a decisive victory in the UK election. US consumer stocks remained supportive to markets with Apple up 10% for the month and Nike +8.4% after reporting strong 2Q margins. At the other end of the spectrum Boeing fell -11% after suspending the production of its troubled 737 Max planes.
New Zealand shares were up 1.5%, continuing from the very strong November return, with positive performances from the retirement sector stocks and from the
ports. Port of Tauranga (50% owner of Northport) saw strong investor demand as policy chatter increased around the Port of Auckland possibly being moved to
Northland. The retirement sector stocks had been climbing on signs of an improving residential property market, and confirmation of the takeover interest in Metlifecare during the month spurred the sector further.
Australian shares bucked the trend and were down 2.2% in December with only the materials sectors in positive territory (+1.6%), with consumer staples and real estate leading the fall down 8.1% and 6.2% respectively.