Investor update

You should always consult your Bridges financial planner before taking action on any recommendation given.

Information current as at 31 August 2008

Global equities struggled in the face of weakening global economic data and continued concern over prospects for financial stocks. Developed markets were lead by the UK (+5.1%), followed by the US (+4.2%) and the pan-European region (+3.6%) and the broader Asian region (-4.2%) recorded negative performances, with notable declines from Hong Kong (-6.5%) and China�s Shanghai bourse (-13.6%). The Australian share market strongly outperformed its global peers (in local currency terms), despite a weak performance from mining stocks. Virtually every Australian sector outperformed its global counterpart. The Australian market was largely preoccupied with reporting season. Well received large cap results included Resmed, OneSteel and AXA Asia Pacific Holdings among others. Poorly received large-cap results included Babcock & Brown, Brambles and West Australian Newspapers Holdings.

The US dollar continued to rally strongly against most major currencies on weakening prospects for non-US economies and changing interest rate differentials. Additionally, the Australian dollar was hurt by falling commodity prices.

In stock trading news standout performers for the month were David Jones (+27.9%), Cochlear Limited (+26.4%), CSR (+26.1%), Billabong International (+25.6%) and Goodman Group (+24.7%).

This is general advice only and has been prepared without taking into account your particular objectives, financial situation and needs. Before making any investment decision based on the information or advice contained, expressly or implicitly, in this website, you should assess your own circumstances or seek advice, including taxation advice. To the extent permitted by law, Bridges, its officers, employees, agents, consultants, advisers and representatives are not liable for any loss or damage as a result of any reliance placed on the contents of this website.