Sunday Territorian

HOLD Rio Tinto (RIO)


Expectatio­n is that iron ore prices will slowly fall. A demandside bear case is priced in, so it’s the supply side that will run the show for a bit. China doesn’t have many levers to pull, so we may see a kick yet.

Amcor (AMC)

Strong reporting and decent growth despite rising raw material costs. Integratio­n of fellow packaging company Bemis looks good. Let’s hold here and see what they can do.

SELL James Hardie Industries (JHX)

Very strong results and positive guidance, but this is a very cyclical stock with a lot of expectatio­ns being priced in. QBE Insurance (QBE) Market at all-time highs, and we don’t expect interest rate rises short term. Happy to take insurance risk out of portfolios.

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