Reporting season – it’s a stock pickers market
The August reporting season will be remembered as a disappointing one, with downgrades to Australian companies’ earnings outlooks sweeping the market. Heightened concerns around slowing Chinese growth and jitters over a potential US interest rate hike drove volatility in share prices. Even posting strong results was not enough to keep investors loyal, with many taking their profits from 2015’s outperformers and rotating into previously unloved names.
In the latest Reporting Season Wrap & Outlook Magazine, BT Investment Management’s Head of Equity Strategies, Crispin Murray, gives his insight into the latest market trends and our key investment positions.
- Where to look in an environment characterised by earnings disappointments and no stand out sectors.
- An assessment of the banking, supermarket and resources industries.
- An overview of our top 5 overweight positions.