Investors need to be patient in the short term, with news on corporate earnings likely to continue to Hibernian Investment Managers.

In the short term, Hibernian is maintaining a cautious stance in terms of its investment strategy. It believes the US will lead global economic recovery and that the US inflation environment will be begin.

Markets with high exposures to technology, cyclical and commodity shares, such as Britain, Europe and Japan, fell significantly last month.

However, the US technology sector, having fallen severely in the first two weeks, actually rose in the month, buoyed by the hope that the interest rate reductions would ultimately lead to an improvement in US economic activity.