Yovich & Co. Market Update - 12 September 2016

Sep 12, 2016 | Commentary

Market Changes

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Market Themes

  • The positive sentiment from the reporting season has helped the NZ market to continue to push to all time highs over the past few weeks. Although this has started to reverse in the past few day as global markets take a tumble.

  • The biggest gainers over the past weeks in the NZ Market have been:

    • Heartland Bank – Up 9.93%

    • Summerset – Up 9.68%

    • Metro Performance Glass – Up 9%

    • Metlifecare – Up 8.45%.

  • The Dow Jones in the US has fallen over 2.5% over the past week as investors react to a surprisingly hawkish tone from a Fed Reserve spokesperson despite some negative data for jobs growth.

  • Strong GDP data released in Australia could not stop the market from recording four straight weeks of declines.

  • The positive sentiment for the New Zealand Economy, an uninspiring reporting season across the Tasman and poor economic data out of the US has seen the Kiwi rally against both the Aussie and the Greenback.

Investment News

Our Preferred High Yield Stocks

 In a market environment where valuations have become stretched, it becomes more important to concentrate on quality businesses with sustainable income generation. Some of the larger cap stocks on the New Zealand Market have run well ahead of their fundamental values and it is the mid cap stocks that still present reasonable buying.

Below is a list of our preferred high yield stocks:

Preferred High Yield Stocks

 

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Jarrod Goodall



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