Yovich & Co. Market Update - 23 January 2017
Jan 23, 2017 | Commentary
- The NZ Market eked out a gain for the past week of two points and extended its winning streak to five weeks. The best performing stocks locally were Arvida (up 4.62%), Infratil (up 3.91%) and Summerset (up 3.49%).
- Across the ditch the All Ordinaries index fell 1.16% with the financials starting to reverse some of their gains that they made in December.
- The Trump Pump has continued this year but lost steam in the past week as we headed into the inauguration and Trump taking control of the White House.
- The UK market had a tough week as a rally in the pound saw traders take profits, despite the fall in the market, Financials remained in favour. Both in the UK and the broader European area, Banks are seen as a possible winner if markets are de-regulated.
- The USD has traded to its highest level since November as traders look towards Trump with expectations of stimulatory spending, inflation and interest rate rises in the world’s largest economy.
Preferred NZ Shares
With the New Zealand market consolidating on a very strong first half of 2016, many stocks are still sitting at elevated levels. It is important to identify companies that are going to provide consistent dividends and long term growth in sectors that have strong fundamentals. Below are our top picks in the current market:
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