The NZ share market rose 1.7% in April and Australia rose 2.4%, following strong performance by overseas markets, with the US market up 4.0%, Germany +7.1%, France +4.9% and Japan +5.0%. Bond yields rose a little following the sharp drop in March. Reasonable economic data, a strong company reporting season in the USA, and increasing confidence in the prospects of a trade deal between the USA and China helped global markets rally through April – albeit early in May so far the Trumpenator has quashed trade deal confidence, tweeting that tariffs will rise imminently, and substantially, if a deal isn’t reached very soon.

In NZ, Pushpay (+17.8%), A2 Milk (+17.2%) and Gentrack (+12.2%) lead the market higher. Summerset (-15.0%), Tourism Holdings (-11.6%) and Sky TV (-5.6%) lagged. Summerset issued a quarterly update that indicated some impact from the slowing Auckland property market. Tourism Holdings reduced profit guidance and is undertaking a strategic review of its US operations. Ebos finished the month off a small capital raise via an institutional placement. The Australian market was lead higher by the Information Technology and Consumer Staples sectors, while Materials and Real Estate lagged