Morning Report Wednesday 29th April 2014
Let’s examine more pieces of the stock market puzzle
I probably read more opinions and articles on the market than all of my readers, and one fact I often find lacking is revisiting previous pieces whether it be to crow, accept defeat or discuss potential ramifications. Two statistics I have been pushing over the last few weeks appear to be very vulnerable to disappointment as April draws to a close:
1. Commonwealth Bank (CBA) has never been down in April for the last 16 years, since the 45-day holding rule was introduced to Australia for dividends. CBA is currently down 82c (0.9%) this April.2. The average return for the Australian Banks for the March-April period is 5.7%, currently they are only up a disappointing 0.7%. In April ANZ is down 3.4% and Westpac (WBC) 2.5%.
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