Australian equities increased by 4% in October with IT up 9.3%, Energy 5.8% and Healthcare 5.5%.
We’ve been allocating towards ORG, WPL, RHC & RMD to help capture these returns. There are incremental further gains in resources and energy, we’re cautious on banks and financials and forecast sideways to lower price consolidation.
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High PE companies with US dollar earnings should now run into resistance. Examples being JHX, BLD, RMD, and CPU.
