Sectors bucking the 2019 trend

Last year was marked by tensions and risks for investors: the trade war between the US and China dampened the mood on the global stock exchanges, and so did the slowdown in China, the jitters in Europe brought on mainly by the never-ending Brexit saga and also the weakening of the German economy. All of these conspired to create a bear market. On the other hand, it was difficult to ignore the rude health of the US economy, where consumer spending is driving growth encouraged by a buoyant labour market. The low interest rates in the US and Europe, as the central banks worry about the prospects for economic growth, also needs to be added to this mix. All of these factors have led to increases and even the New York S&P500 index (considered to be the most representative of the US economy) hitting historic highs several times. In 2019 it rose by almost 30 pct – the biggest leap in six years. The European stock exchanges also saw significant rates of return – the highest (of