BUY

Sunday Herald Sun - - Finance -

De­liv­ered a qui­etly im­pres­sive re­cent re­port and can ben­e­fit from higher US in­ter­est rates and a stronger US dol­lar. The merger with Tatts is now con­sum­mated and syn­er­gies should con­tinue to emerge to boost re­sults. It also pays an at­trac­tive fully franked div­i­dend around 4.5 per cent. ASX has been a qui­etly im­pres­sive per­former in the re­cent mar­ket tur­bu­lence. And while share prices have been soft, turnover has been ro­bust. This breath­ing dis­or­der prod­uct maker has per­formed par­tic­u­larly well in re­cent times and its US ex­po­sure is pos­i­tive with a weaker Aus­tralian dol­lar. This off-cut from the NAB’s bank­ing busi­ness in Bri­tain de­liv­ered a re­cent re­port that was most dis­ap­point­ing. Legacy is­sues con­tinue to be a thorn in the side. Like other ma­jor fi­nan­cial in­sti­tu­tions, IOOF has been ad­versely af­fected by rev­e­la­tions at the royal com­mis­sion. Best to wait un­til the dust clears.

$4.29 $60.29 $14.99 $3.62

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