Rio Tinto sued over Talcum Powder? Aged Care Sector “Hurting”… Oil Up…
RIO Tinto has been sued over talcum powder cancer links…..
It will certainly be an interesting day today….
We also have the RBA rates decision at 2:30pm AEST and we are 99.9% sure that our friend, Glenn Stevens will leave interest rates on hold.
Last night, not much movement, following Labour Day Holiday in the US…
It seems that our US colleagues have more holidays than us, have a better basketball team and a higher dollar…
Common Aussies… let’s lift…
In Oz, it was the aged care sector (REG, JHC, EHE) which got “hit” in yesterday’s trading session over speculation that the federal government will change regulations relating to payments.
We feel that stocks are now “oversold” and are keeping a very close eye on the sector as a whole.
Oil stocks should perform well today (Crude +3% at one stage) over Russia’s and Saudi’s “talks” to potentially curb supply…..
The SPI is down 12 points this morning
Niv Dagan is an Executive Director of Melbourne based boutique funds management and corporate advisory firm, Peak Asset Management (www.peakassetmanagement.com.au). He is also a regular financial commentator on Sky Business