skip to log on skip to main content
VoiceOver users please use the tab key when navigating expanded menus

Markets mixed as investors remain cautious

Published August 2020

Equity markets across the globe showed mixed results in July. ANZ’s Chief Investment Office outlines the performance in key markets globally.

US equities outperformed other regions along with Emerging Markets — where Chinese equities recorded strong gains. European and Japanese equities fell as outbreaks of COVID-19 sparked further second-wave fears.

Overall, global shares returned 3.3% and 0.6% in hedged and unhedged terms respectively.

Here at home, the S&P/ASX 300 had a relatively muted performance, closing July 0.6% higher. The top sectors were Communications Services, Materials and Information Technology – all recorded gains of at least 5%, while the Energy sector had the biggest fall of 6.3%.

The Australian dollar continued to climb against the US dollar, finishing 3.5% higher at 0.71 US cents.

In commodity markets, gold rose 10.9% in July — the biggest monthly gain since 2012 —as investors continue to be concerned about the global economic recovery.

The European Union (EU) agreed to a EUR 750 billion recovery fund, which is positive on two fronts: promoting a stronger bond among EU countries and providing support to the EU economy.

Weak global GDP

Across the globe, July GDP releases remained miserly. Q2 US GDP fell by an annualised rate of 32.9% compared with the previous quarter — the largest decline in GDP since World War 2. In Europe, Q2 GDP declined by 12.1% relative to the previous quarter — representing the largest quarterly fall in Eurozone history.

In the meantime, COVID-19 cases continued to rise aggressively in July. The World Health Organisation (WHO) reported more than 17 million cases globally at month-end.

Talk to us about share investing


1300 658 355

Mon-Fri 8.00am to 8.00pm (Sydney time)


Send us an email


What to read next


FAQs: Accessing your investment lending account

We are currently experiencing higher than usual call volumes. Find out how you can access your investment lending account.


FAQs: Getting access to your ANZ share investing account

We are currently experiencing higher than usual call volumes. Please see our FAQs on accessing your share investing account.



Risk remains king in June 

Amid concerns on rising geopolitical tensions and a spike in COVID-19 cases in the US, the ANZ Chief Investment Office review some recent major market movers.

The ANZ Share Investing service is provided by CMC Markets Stockbroking Limited ABN 69 081 002 851 AFSL 246381 (CMC Markets Stockbroking), a Participant of the Australian Securities Exchange (ASX Group), Sydney Stock Exchange (SSX) and Chi-X Australia (Chi-X) at the request of Australia and New Zealand Banking Group Limited ABN 11 005 357 522 (ANZ). Disclosure documents relating to ANZ Share Investing products and services are available on or by calling us on 1300 658 355. ANZ is the issuer of the ANZ Cash Investment Account, ANZ Share Investment Loan and ANZ V2 PLUS Account. The obligations of CMC Markets Stockbroking are not guaranteed by ANZ. CMC Markets Stockbroking and ANZ are not representatives of each other.

Past performance is not a reliable indicator of future performance. This information is of a general nature and has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of the information, having regard to your objectives, financial situation and needs.