0009 GMT - The strengthening Aussie dollar is a bigger threat to the economy than stocks, says Macquarie while contending the selloff in offshore-exposed shares has been overdone. The investment bank says the currency strength has mainly been due to the greenback's weakness. A weaker Aussie had been a reasonable tailwind for offshore industrial stocks, but the main game was their exposure to faster-growing markets and M&A opportunities.
Those Macquarie thinks are oversold include Aristocrat (ALL.AU), James Hardie (JHX.AU) and QBE Insurance (QBE.AU). ([email protected]; @RobbMStewart)
(END) Dow Jones Newswires
August 02, 2017 20:09 ET (00:09 GMT)
You can see how over sold this was clicking into the $19 range ... Aud down over night slightly..
Goldman Sachs $25 PT, page-41
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Last
$67.75 |
Change
-0.120(0.18%) |
Mkt cap ! $36.16B | |||
| Open | High | Low | Value | Volume |
| $67.77 | $68.20 | $67.42 | $51.90M | 766.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1090 | $67.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $67.77 | 20386 | 4 |
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| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| ALL (ASX) Chart |
