Market Update from Moore Stephens

Volatility continues to be the theme in world markets with the intervening period since our last newsletter seeing the market move back up to 12 month highs, only to then fall back in June and July to once again show signs of rising. This is in part due to the mixed signals around the world from a variety of different data that at present indicates economies are growing again, but not at a high enough rate as seen in previous recoveries. Many experts are putting this down to the deleveraging effect taking place worldwide, although some have argued that the leverage has simply been shifted from corporate balance sheets to the Government.

Setting aside the daily ups and downs it is timely to remember that investing is about focusing on the long term, so short term noise should generally be ignored in favour of sticking with your long term strategy. Speaking of long term, it has also been a busy time for the Government and the numerous inquires and committees that have