XJO lower ahead of reporting season | House prices continue to increase | G8 Education sweetens takeover deal |
Niv Dagan
Peak Asset Management
Good Afternoon, Shares traded lower today… losing 20 points… With weak commodity prices with disappointing Chinese factory data… it’s no surprise. China's factory activity shrank more than initially estimated in July, contracting by the most in two years as new orders fell. The final Caixin/Markit China Manufacturing Purchasing Managers' Index (PMI) dropped to 47.8 in July, the lowest reading since November 2011, from June's 49.4. Reporting season officially commences this week! Analysts are expecting a fairly flat earnings season with few surprises, a moderate lift for equities and reliable dividends. The key themes will be the low iron ore price, the higher US dollar, capital head winds for the banks and flat retail sales. The banks were flat. ANZ closed unchanged, CBA fell 0.22%, NAB fell 0.52% and WBC fell 0.03%. CHART OF THE DAY – Even though the banks have outperformed last few weeks, they are still trading within their forward P/E multiple price ranges See below SUN to report tomorrow... focus will be on insurance margins and the outlook statement will be key
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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, intermediary and offshore hedge funds. Niv takes an active approach in managing client funds and is a firm believer that adequate risk management is paramount in any good investment decision. Niv's work is largely focused on portfolio management, asset allocation, fixed income, managed funds, structured products and developing tailored strategies for the SMSF sector.
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Niv Dagan
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,...
Expertise
No areas of expertise
Niv Dagan
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,...
Expertise
No areas of expertise
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