Month: February 2017
The ASX200 has bounced nicely after its failed attempt to break under the 5,600 level, with yesterday’s company reports aiding the positive sentiment e.g. Seven Group (SVW) +14.4%, Premier Investments (PMV) +11.9% and Carsales.com (CAR) +7.8%. The only real negative on the reporting front was Glenworth Mortgage Insurance (GMA) -14.8%, which fell as mortgage stress increases on Australian property, currently focused in mining areas. While we do not see a local property crash like many “experts”, our outlook is definitely on the soft side with any decent increase for property over the next few years extremely hard to rationalize.
**CORRECTION; In the afternoon report yesterday, we referred to a buy price in SGR of ~$3.76. This obviously should have been ~$4.76**
Really bullish, there's more to go in the reflation rally
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