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Holiday Pause

By CMC Markets (Ric Spooner)Market OverviewFeb 20, 2018 10:36
au.investing.com/analysis/holiday-pause-200197393
Holiday Pause
By CMC Markets (Ric Spooner)   |  Feb 20, 2018 10:36
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Originally published by CMC Markets

This morning’s soft opening represents a largely neutral macro stance for the S&P/ASX 200 index. With US and Chinese markets closed, the index has opened inside yesterday’s range and in wait and see mode. Investors are waiting on a number of developments including the BHP profit result; this week’s bond auctions in the US and the Fed minutes.

The divergence of opinion on Woodside Petroleum's (AX:WPL) capital raising and Scarborough acquisition could lead to share price volatility for a while yet. At the end of the day, management have done what the market was asking for and patiently put together a suite of growth assets. Development of assets like these carries inevitable risk and those risks are gradually increasing as available gas resources become less accessible and/or carry greater political risk. The current sell-off provides an opportunity to access Woodside’s growth potential and assume its growth risk at a more favourable entry point.

APN Outdoor Group (AX:APO) failed to justify yesterday’s rally with this morning’s result. Revenue growth was moderate at 4% and management noted that trading so far this year is in line with expectations, implying ongoing low/moderate growth.

Holiday Pause
 

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Holiday Pause

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