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Mithril Asset management - Weekly Bulletin presented by Square Mile Financial Services

Weekly Finance Bulletin 27th August 2012

Market Roundup:

**We wish to point out that Mithril Asset Management, Mauritius has no affiliation whatsoever with Mithril Capital Management**

Summer has proved to be a strong period for most equity markets. Many have managed to get themselves very excited over the hope of stimulus from the US and China. Both parties have made all the right noises, but with little execution.

World financial markets rose Thursday on hopes that more help for the global economy is on the way, after minutes from the U.S. Federal Reserve showed policy makers favour further stimulus and poor manufacturing data out of China fuelled speculation Beijing will take more action to boost its economy. The overall flash PMI reading was 47.8, down from 49.3 in July. This provided further proof that the Chinese economy was in need of a boost.

This week alone, the Chinese cities of Tianjin and Chongqing each unveiled plans for investments of
Rmb1.5tn ($236bn) in large industries such as petrochemicals, automobiles, electronics and advanced equipment over the next few years. However do beware of competing local authorities inflating the size of their investments.

Profits were being taken in the US amid uncertainty over prospects for additional stimulus by the Federal Reserve and lack of a sign that Germany will give Greece more time to implement austerity measures.

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