Morning Report Wednesday 23rd December 2015
2015 has been a fairly tricky, choppy year for equities as the bull market that commenced in the depths of the GFC matures. The Australian market has unfortunately suffered due to some major internal issues in two major sectors of our market, with the banks hindered by regulatory headwinds while the miners have been hit by falling commodity prices. Interestingly, industrial stocks have performed well adding +13.5% incl dividends, however in aggregate the ASX200 is currently down 5.4% for the calendar year. Conversely for the same period the US S&P500 is down only 1% and the EuroStoxx is up 2.2% - see charts 1 & 3.Now below let's look at two stocks that focus on these two respective overseas regions and give our view as to what we would do if we held them:
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