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"Commodity prices during the year, although volatile, have been stronger than
most companies expected and this bodes well for company earnings. During the
remaining six months of the financial year, we expect further commodity price
volatility, as economic statistics tackle the higher base set in the second
half of 2009 for looking at year-on-year changes. However, with the apparent
success of measures taken by China to moderate growth, the balance of
probability is for looser monetary policy rather than further tightening.
Despite these short term headwinds, the long term prospects remain robust. In
addition, when investors receive clarity on the Australian tax reform, the
losses triggered by the first proposal should reverse. Last but by no means
least, we will be watching closely for signs of poor capital management by the
mining companies and should this happen we will act to protect the portfolio
from such misplaced strategies."
www.tradingmarkets.com/news/stock-alert/...report-1104247.html
most companies expected and this bodes well for company earnings. During the
remaining six months of the financial year, we expect further commodity price
volatility, as economic statistics tackle the higher base set in the second
half of 2009 for looking at year-on-year changes. However, with the apparent
success of measures taken by China to moderate growth, the balance of
probability is for looser monetary policy rather than further tightening.
Despite these short term headwinds, the long term prospects remain robust. In
addition, when investors receive clarity on the Australian tax reform, the
losses triggered by the first proposal should reverse. Last but by no means
least, we will be watching closely for signs of poor capital management by the
mining companies and should this happen we will act to protect the portfolio
from such misplaced strategies."
www.tradingmarkets.com/news/stock-alert/...report-1104247.html
