Add to favourites
News Local and Global in your language
16th of January 2018


Pause or peak ? - CMC Markets

By Ric Spooner, Chief Market Analyst, CMC Markets

After two strong days, the ASX 200 index is now 2% above its 6 December low. This provides a good start to a year-end rally.

However, the minor downturn in US stock markets last night raises the spectre of a buy the rumour; sell the fact response to US tax cuts finally being passed into law. This, together with higher bond yields overnight, looks set to deliver a soft opening for the local market. Traders now have to ponder the probability of this being a peak, rather than just a pause, in the year-end rally.

Ardent Leisure shareholders are likely to be happy with the price achieved for sale of its Australian bowling division. However, the wider question for investors will be whether reinvestment of the proceeds in the Group’s US Main Event business is an attractive option.

Read More

Leave A Comment

More News - Business

Reuters: Business News - Business

ABC News: Money

Scoop NZ - Business

Disclaimer and is not the owner of these news or any information published on this site.