wbc

Mathan Somasundaram

Aussie market took a hammering on the back of global investors pulling out on currency worries. We see the global investor selling pressure holding the market to ransom till the currency drops to mid 60’s. The recent trend suggests we are going to revisit the 5000 low level, but we... Show More

Mathan Somasundaram

Aussie market started choppy before building a bit of positive momentum on the back of the banks. RBA continues to talk up the economy and talk down property. Their areas of strength are in employment and consumer spending. Slowing property market, manufacturing doom with car industry shut down and only... Show More

Mathan Somasundaram

Aussie market remains aimless and flat as it waits for central bankers to set the tone. The week of the central bankers will kick of tomorrow with US Fed and even PBOC may come to the market on their outlook. The best performing sectors were Gold, Health Care and Telcos... Show More

Mathan Somasundaram

Aussie market started positive on the China stimulus move and then ran into profit taking on low volume as the day went on. It was clear to see a rotation out of TLS and into WBC for the dividend cycle in November. We had expected China to deliver a rate... Show More

Mathan Somasundaram

Aussie market started negative and recovered on the back of the banking sector rebound after WBC moved to raise rates and raise capital. The housing boom cycle has now well and truly moved from denial to fear. Banks are moving to protect themselves and the property investor’s better take notice.... Show More

Saxo Capital Markets Australia

Saxo Capital Markets’ traders of the Australian desk have just opened their third short position on a local share. Following their short trades on Commonwealth Bank and Newcrest’s shares, Saxo traders have now suggested shorting Westpac at market value and with a first target at $A27.48. According to the traders... Show More

Matt Felsman

A banking wrap following last week’s reporting and the RBA cutting the official cash rate to 2.0%. WBC had a soft 1H15 result, with cash earnings of $3.778b around 2% below consensus. We downgraded our forecasts by 1.5%, 3%, and 4% for 2015-2017 and lowered our Price Target from $35.10... Show More