Global markets retraced overnight as a steep fall in crude oil prices hit energy shares, more than offsetting gains in technology and bank stocks.
As we highlighted on Monday, local earnings season across Australia & NZ gets busier this week, with the likes of AMP, Commonwealth Bank, and SkyCity reporting yesterday. We were particularly pleased with the above expectation result from SkyCity, a stock we have been bullish on as part of our tourism boom investment theme. Both AMP and CBA also jumped on their result, after being hit-hard by negative sentiment from the royal commission into the Australian financial sector.
AMP Share Price:
Stock on Focus: Briscoes (BGP:NZ)
We have initiated research coverage on Briscoes. Briscoes is NZ’s largest listed retailer by market capitalisation and operates two major bulk retail chains in New Zealand, Briscoes and Rebel Sports. Briscoes has been a strong performer over the last decade, generating stable revenue growth whi...
