Your editor participated in BoardRoomRadio’s Friday Afternoon Round Table today.
In a mixed result for Wesfarmers, impacted by bad weather, the ongoing Coles turnaround story was the major highlight.
JP Morgan has today downgraded Monadelphous on valuation grounds, becoming the third broker in the FNArena database to lower its rating on the stock this month.
This month’s round of Chinese economic data and the third quarter GDP result came in much as expected.
National Australia Bank’s latest quarterly Australian Commercial Property Survey showed some improvement in the market and expectations of further gains over the next 12 months.
PanAust and OZ Minerals have copped a broker downgrade beating while Kingsgate has moved to fill the void left by Lihir.
There were few surprises in the Woolworths quarterly sales result, so opinion remains divided on the company’s growth outlook.
Despite Wednesday’s price action, Barclays’ technical analysts believe there are reasons to believe copper is due for a larger correction.
A glance through the latest expert views and predictions about commodities with UBS revising commodity price forecasts higher, plus some reasons for caution on aluminium and silver.
The Australian share market seems to be forming a diamond top on price charts, the Wizard warns. This would be a bearish signal.
