Good Morning,
A great win by the Boomers vs. Lithuania (3rd in world), sets us up well at the Semis …
Bolt is running today to claim his 2nd gold in the 200M final, while Ryan Lochte (US) supposedly “lied” that he was robbed in RIO…
Almost as much action as the market…
Well done gents.
Last night, US Stocks rose (Dow +21 points), as the Fed minutes struck a more “dovish” stance in relation to raising interest rates in 2016….
Bets that central banks around the world will remain accommodative amid uneven growth propelled global equities to a one-year high this month and sent the dollar tumbling.
“They’re giving the same amount of ammunition to the hawks and the doves,” said Mark Heppenstall, the Horsham, Pennsylvania-based chief investment officer of Penn Mutual Asset Management, which oversees about $20 billion.
“We still have a lot of economic numbers to be released between now and December. If I had to guess, I would say that the earliest we see a hike would be early 2017.”
In Oz, there were some big moves as SHL, DMP and MGR reported +earnings, while QBE missed expectations….
BHP’s $8 Billion loss is casting doubt on its CEO getting paid well over $10M in cash and incentives…
So at what point should executive pay be tied to the underlying performance of the group?
Also make sure to keep an eye on FFG, which is coming out of trading halt this morning on an expected JV with a European “big player”…
The SPI is up 2 points this morning
Niv Dagan is an Executive Director of Melbourne based boutique funds management and corporate advisory firm, Peak Asset Management (www.peakassetmanagement.com.au). He is also a regular financial commentator on Sky Business
By Niv Dagan
