XJO inches lower as Banks Weigh... | Weak NZD employment numbers | Skilled Group positive earnings |

Niv Dagan

Peak Asset Management

Good Afternoon, Losses among the big lenders accelerated, driving shares lower by 0.42%... However, Fortescue jumped on reports of a buyer for its assets, increasing by 6.2%... Interesting…. China's Hebei Iron & Steel Group and Tewoo Group had approached Fortescue Metals Group about acquiring a stake in the iron ore producer's infrastructure assets. Our neighbours, New Zealand, came out similar weak employment numbers causing NZDUSD to drop… Big banks and Telstra were bashed. ANZ, CBA, WBC and NAB all closed lower by 0.61%, 0.75%, 0.81% and 0.64% respectively. CHART OF THE DAY – Goldman Sachs considers property for domestic (Australian) investors to be overvalued by 20% (see below) on our radar - DMP, CTX, COH should report positive earnings surprises this week.... Niv


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Executive Director
Peak Asset Management

Prior to founding PEAK Asset Management, Niv headed up HC Securities, spent three years growing Halifax Investments capital markets division and also worked on the wholesale desk at Macquarie Bank, servicing a wide range of institutional,...

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