The Olympics are over… but on markets, things are about to “heat up”….
A banana thrown at Eddie Betts… The IOC apologies to the 10 athletes who were thrown in a Brazilian jail… The Aussie team’s “hit & misses”….
Yes…. Monday is here again…..
And boy, if we thought last week was “busy”, just have a look at what we have in store….
In the Markets
- Oil Climbs to Seven-Week High…but will it continue?
- Dollar Rises After Upbeat Fed Comments…. Will US rise this year? Unlikely….
- Gold Slides… time to lock profits?
- Asia's Commodity-Focused Stocks Get a Boost From Oil
- Pound Falls on Report on Brexit Timing
Markets right now appear to be “lacking a catalyst”……..
In the US, earnings were “above average”, however this is a result of analyst expectations coming off a low base….
So far, there have been some highlights in the AUS reporting season and the recent $300M+ asset sale of Ardent’s (AAD) gyms, should provide further reiterating for the stock.
WOW is also expected to write down > $1 billion due to its “Masters debacle”, however, as investors are “forward-looking”, we see upsides in the near-term.
FMG, BSL & UGL will be the key focus this morning, with the likes of AMC, CBA, ILU, HVN and QANreporting their FY results over coming days…
The SPI is down 6 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