Ansell shares plummeted over 20% on a profit downgrade Friday, Morgans Senior Analyst, Derek Jellinek looks at the result and the driving factors behind it. “The blame? We’ve been talking about it for a while; it’s the macro.” As a manufacturer of industrial gloves, Ansell is more exposed to the macro environment than many other stocks. The industrial economy is in a general malaise, if not an outright recession. In addition, Ansell reports in USD, meaning the higher USD is a headwind for earnings. “I don’t see any reason to be in this name until the macro improves.” Watch the full video below.
Morgans is Australia's largest national full-service retail stockbroking and wealth management firm, with more than 300,000 clients, 500 authorised representatives and 850 staff, operating from offices in all states and territories. As well as...
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