Bourse Communications Pty Ltd | Suite 104, 22 St Kilda Rd | St Kilda Vic 3182 | Melbourne, Sydney, Brisbane I P +61 3 9510 8309 I W
Enhancing the company's value over the long-term and managing your relationship with the investment community
© Bourse Communications 2009 All Rights Reserved
MEDIA RELEASE
22 DECEMBER
THE INVESTMENT CLOCK MOVES ON – History shows an index of 10,000 is
a real possibility
Financial markets are now in the Recovery Phase, with economic data continuing to show anticipated
improvement in business, consumer and GDP growth likely to become more positive into 2010/2011.
The sharemarket has recovered by almost 52 per cent, since its low point of 3109 in March 2009,
bringing the All Ordinaries Index ever closer to 5,000. Who knows, one day we may even see an index of
10,000!
On The Investment Clock we appear to have moved past 7 o'clock towards 8 o’clock, where interest
rates reached the bottom of the cycle and are now moving back to a more normal setting. It is expected
that the cash rate will end up between 4.5 and 5.5 per cent in 2010. In recent months we have also
witnessed a stabilisation in the labour market, with unemployment as a lagging indicator, now likely to
peak closer to 6.5%. Australia has managed to weather the recessionary storm better than most other
industrialised countries. Many companies are likely to report sustained or increased earnings after a
year and a half of tightening and consolidation in order to be positioned to take advantage of the
Recovery Phase.
2010/2011 offers some real prospects for positive GDP growth returning, which will also be assisted by
the major economies around the world recovering.
2009 ON THE RECORD
The ASX 200 recovered 1561 points of its 3731-point fall in 2009
140 stocks in the ASX 200 rally over 100 per cent from bottom to top
Banks have no toxic assets. CBA rallies 134 per cent, ANZ 113 per cent, NAB 104 per cent, Westpac
91 per cent and Macquarie Bank 292 per cent from lows
BHP up 59 per cent and RIO 175 per cent
Half of 2009 market rally was due to only two shares, BHP and the CBA
91 per cent of market rally due to just 20 shares
The other 480 stocks in the All Ords is up just 2.2 per cent on average
Market is still down to 32 per cent from the top, achieved in November 2007.
Rod North, Managing Director, Bourse Communications on (03) 9510 8309 or 0408 670 706
NEWS 
