Cherry- pick stocks ad­vice

Townsville Bulletin - - Investor -

THE Aus­tralian share mar­ket may be cheap but cherry-pick­ing stocks is the best in­vest­ment ap­proach as slug­gish do­mes­tic growth will im­pair prof­its be­yond the re­sources sec­tor, says UBS. The global bro­ker’s chief strate­gist in Aus­tralia, David Cas­sidy, says the lo­cal mar­ket is cheap now, at 12.6 times for­ward earn­ings. Fe­bru­ary’s cor­po­rate earn­ings sea­son and the more re­cent oil price spike pro­duced a mild 2.5 per cent down­wards cor­rec­tion.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.