Category: ASX Markets

The passing of the traditional infrastructure bill is a strong positive for the economy and for markets, we expect to see continued strength in the materials sector.

Our preference is the (ASX:OZR}

Iron Ore prices have collapsed to trade at 90 p/t. We shift to an overweight position and anticipate a rebound in the new year.

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Spot gold is up 1.2% to US$1,816.80 per ounce, as yields on the U.S. 10-year Treasury notes slipped to their lowest level in about a month.

Lendlease has warned of a challenging year to come as COVID-19 puts a dampener on development and construction globally.

FY21 net profit after tax of $377 million was in line with the company’s guidance, largely due to divesting its loss-making engineering and services.

We expect to see an improvement in earnings towards the end of FY22.