The Australian share market has ridden a rollercoaster this year. With only three days left of trading in 2014 analysts are already crunching the numbers in an effort to situate their portfolios for the year ahead.

264 of the 500 companies making up the All Ordinaries index posted share price drops in 2014. Giants such as BHP, Coca-Cola, Amatil and Origin Energy posted significant losses.

But not everyone has gone begging: Telstra was up 15 per cent, while the Commonwealth Bank (despite its legal woes) pleased shareholders with an 11 per cent gain. Qantas came back from the dead, benefitting from end of year drops in the price of fuel.

Plummeting prices in iron ore affected most of the mining industry, with Fortesque Metals Group having its share price more than halved.

Travis Adams, from Prescott Securities, believed 2014 was overshadowed by negative consumer sentiment. He expects the current low prices for oil and interest rates to turn this around in 2015. Retailers are already posting record post-Christmas sale figures. With interest rates likely to drop again in the next few months consumer sentiment is likely to stay high.

“I wouldn’t expect a massive year, but I would like to see it up 5 – 10 per cent. That would be nice,” said Travis Adams.

Michael McCarthy, chief market strategist for CMC Markets, predicts shares to climb by 10-12 per cent in 2015, plus dividends.

“Overall the outlook for the Australian economy is moderately positive. We are looking to see a flattish first half with growth in the second half.” Companies with large offshore earnings stand to gain the most as the Aussie dollar is expected to continue falling against other major world currencies.

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