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The Olympics are over… but on markets, things are about to “heat up”….

Good Morning,

 

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

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

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