Positive outlook for Aussie share market after two-month climb

Monday 01 November 2010

Article by Mozo

The outlook for Australian shares remains positive after the market came through the "two bogey months" of September and October in growth, it has been observed.

Anthony Keane of News Limited noted that the past two months have gone by "without the dreaded crash and double-dip global recession" that had been forecast by some analysts, with the All Ordinaries index instead climbing 6.6 per cent during the period.

He referred to a recent Your Money analysis of Australia's 20 largest companies which suggested that the two big mining groups of BHP Billiton and Rio Tinto are leading this growth having climbed by 13 per cent and 20 per cent respectively since the start of September.

"The outlook for Australian shares is more positive than other countries because of structural issues such as good population growth, low-cost resources production, and changing consumer patterns that fuel growing demand for our raw materials," added Mr Keane.

Consumers looking for strong, long-term investment options could also choose to compare term deposits in search of the best deals. Last week, Reckon, the wealth management solutions provider, claimed that the growth of term deposit accounts in Australia since the global financial crisis "has been remarkable". It noted that bank interest rate offers are now seemingly more appealing to those looking for investment options with known returns and lower risk.

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