Skip to Content

Australian Investment Blog

Uncategorized 02/11/2018

Looking back on October – the month that will define markets in 2018

The month saw an initial 583pt / -9.4% fall to the low on 26th of October, before climbing a handy 205 points / +3.7% over the final three trading days. Overall, -6.1% fall in October (from the close on 28 September) and no sector was spared. Growth clearly in the firing line – IT and energy taking big hits, consumer discretionary followed the housing price lower. Safe havens outperformed, however that is clearly a relative measure… Sectors for the month On a stock level - Saracen had the tailwind of the gold price as well as a record quarter of gold production helping the stock 30% higher. Other gold names of Newcrest, Regis and Evolution all performed strongly in such a weak market.  Lynas staged a recovery after being one of the weakest stocks in September. the company looks to be making progress with Malaysian authorities to ensure their processing facility isn't impacted. MYOB reversed the year's weakness when they copped a take over bid. On the other end, the growth end of town - Appen, Bellamy's, Wisetech etc. felt the brunt of the market rout. Afterpay took a big hit thanks to senate inquiry fears. Corporate travel was doing reasonably well until the last day of trade when they were forced to respond to a damming short research report. Stocks for the month

Back to top