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.
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