Markets wrap: Omnicom outperforms competition, ASX vulnerable to volatility in coming months

Australian shares remain at high risk of further falls in the short term on the back of inflation, interest rate, recession and geopolitical risks. A recent GroupM report estimates Australia’s e-commerce market to grow by 8.4%, while data from AMP finds significantly slowing consumer spending.

Omnicom shares rallied earlier this week, outperforming competitors like Publicis Groupe and IPG.

Sharemarkets are particularly vulnerable in the short term as inflation remains high, global central banks are still hawkish, recession risks are high, geopolitical tensions remain high and the period out to mid-October is known for sharemarket weakness.