Yovich & Co. Market Update - 24 July 2017
Jul 24, 2017 | Commentary
Another record high was reached for the NZX Gross Index, with growth companies like Serko (SKO.nz), EROAD (ERD.nz) and Trilogy (TIL.nz) leading the market higher.
The political landscape is starting to heat up as the election on 23 September 2017 gets closer. At this early stage the markets have not been too concerned about a change so the assumption is that it will be a National lead Government without any major change to the direction that the economy is taking.
A switch from the Mining stocks back to the Financials has seen the market in Australia trade sideways over the past month.
Motoring stocks such as BMW, Daimler and Volkswagen fell last week as Tesla rolled out the first Model 3 from the production line. This saw the export weighted DAX index slide further since the highs reached in June.
The NASDAQ index has surged ahead after consolidating in June.
The Kiwi remained strong against the Greenback and is trading close to the ceiling of the range over the past 2 years.
Preferred High Yielding Equities
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