Your Financial Confidence March 2024

Welcome to the March edition of your financial confidence.

Key events that have been driving markets:

Global share prices made solid gains in February given continued optimism on the prospects for Artificial Intelligence ‘AI’. The largest AI chipmaker in Nvidia led the charge with a 29% price gain in February given strong profit growth. This technology optimism overcame concerns over slower global economic activity.
European share markets advanced solidly with hopes for falling interest rates in 2024. However, these interest rate hopes are driven by Europe’s weak economic activity with both German and British gross domestic product (GDP) data confirming mild recession occurred last year.
Chinese share markets surprised with strong gains given that China’s 5 year prime rate was cut by 0.25% to 3.95% in February. This should provide some support to China’s weak housing market.
Australian shares delivered a mild gain and are near record highs. The Information Technology sector surged with a 19.7% gain given the technology optimism. Consumer Discretionary (9.7%), Real Estate Investment Trusts (4.8%) and Financial (3.5%) sector shares also made strong gains given hopes for lower interest rates this year. However, there were some disappointments with a sharp -6.0% negative return for the Resources sector given lower iron ore, lithium and nickel prices.
Australia’s economy appears subdued but is also experiencing a welcome decline in inflation. Employment and retail spending have fallen in the December-January period. In more positive news, consumer annual inflation came in at 3.4% in January. This was the lowest inflation in the past two years and suggests that the Reserve Bank of Australia (RBA) could consider lowering interest rates this year.

Also contained in this edition;

• New increased super contribution caps
• Your money in retirement
• Budget. Save. Grow.
• Consolidating super funds
• The super moves you should make today
• Insurance is a sound investment

If you’d like to discuss anything in this report, please give my office a call on 1800 668 525.

Cheers

Christopher Cachia / DipFp

CERTIFIED FINANCIAL PLANNER®professional

CCA Financial Planners Corporate Authorised Representative No. 243576 of CCAFP Wealth Pty Ltd | AFSL 540 531 | ABN 56 659 188 655

This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial and tax and/or legal advice prior to acting on this information. The material contained in this newsletter is based on information received in good faith from sources within the market, and on our understanding of legislation and Government press releases at the date of publication, which are believed to be reliable and accurate. Material referenced in the ‘Three sixty research market update’ has been prepared by, and is part of, MLC’s Advice Service team which is owned by IOOF.
Whilst CCA Financial Planners are of the view the contents of this newsletter is based on information which is believed to be reliable, its accuracy and completeness are not guaranteed and no warranty of accuracy or reliability is given or implied and no responsibility for any loss or damage arising in any way for any representation, act or omission is accepted by CCA Financial Planners or CCAFP Wealth Pty Ltd or any oﬃcer, agent or employee of CCA Financial Planners or CCAFP Wealth Pty Ltd.

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