Contents
Where are we in the Cycle?
For the first time in recent years, the International Monetary Fund has not pared back its global growth forecasts - a modestly positive sign for the industry's cyclical positioning. Confidence about the European growth outlook has been growing among all forecasting groups. The momentum for higher metal usage from emerging economy investment spending appears to have ended. More...
Market Directions
Energy stock returns drove the sector higher in Australia but, oil and gas stocks aside, gains were negligible. Monetary policies in Europe, USA and China have been dictating market direction with China's central bank being the latest to initiate additional stimulus measures.
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Portfolio Performance and Positioning
Gains among the Phase I group of companies kept the recommended portfolio in line with the slightly higher market. There are no suggested changes.
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Stock Reviews and Rating Analysis
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South Boulder Mines Limited (STB:AU)
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Medusa Mining Limited (MML:AU) ~ update
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Sheffield Resources Limited (SFX:AU) ~ update
DAILY BRIEFING: The PortfolioDirect market diary offers brief thoughts on
current issues affecting sector investment strategies.
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