A bear market outside of banks and resources

Livewire Exclusive

While we have a few months yet for the banks’ results, the resource sector has produced some of the more surprising numbers so far this reporting season. Rio Tinto’s result spoke volumes about stronger revenues, reduced costs, and surging cashflows. And today’s 61% increase in NPAT announced by midcap gold producer Northern Star tells a similar story. So, it will be all eyes on BHP tomorrow. We recently caught up with Rudi Filapek-Vandyck, Editor of FNArena for his view on this emerging trend: “I believe that everything outside commodities and banks are in a bear market, and everything in those sectors is in a bull market … so we have a very polarized market”. In this short video he explains his view and describes a key catalyst that could see “BHP in the $30’s and RIO closer to $80”.


Comments

Please sign in to comment on this wire.