What happened to Ansell?

Morgans Financial Limited

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 Financial Limited

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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