This market commentary has been produced by the Investment Management team at Hanson Asset Management.
The New Year erupted into life with more activity in one month than in most of last year! Most, but not all, of these events seemed to take place in Europe as the European Central Bank (ECB) lit the blue touch paper to a hoped for economic recovery with a €1.1tr Quantitative Easing (QE) programme to the end of September 2016. However, if it is thought necessary the €60bn per month can be extended as deemed fit. This was well received apart from in Germany where there are severe reservations about the policy. Equity markets responded positively with the MSCI Europe (ex UK) rising 4.4% over the month. Things look to be recovering in markets such as Spain, Germany, Italy and Ireland, but life in France remains difficult.
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