Macquarie research rates ASX to underperform noting that volumes on the exchange are lagging the current equity market rally

Macquarie research rates ASX to underperform noting that volumes on the exchange are lagging the current equity market rally. Cash Equities volumes fell to just $3.7bn, 10.6% below the average of August and September 2013 ($4.2bn) as ASX lost ~1ppt market share to Chi-X. October interest rate futures volumes grew by 20% YoY and +10% and +17% above the July and August 2013 non-roll months. ASX is trading on 18x consensus 1yr forward PER, a 26% premium to the Australian market and at the top of its valuation range - underperform.


The Livewire Equities feed brings you a range of insights that relate to Australian equities

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.