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BlueScope Steel is under Algo Engine buy conditions.
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.
5-year graph
10-year graph
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.
Treasury Wine Estates is under Algo Engine buy conditions.
TWE continues to adjust to a post pandemic/post Chinese tariff environment. FY21 EBIT of $510 exceeded market expectations. After a number of years of disappointment for TWE in this region, we see America’s division accelerating growth into FY22.
FY22 EBIT growth is forecast to be in the mid to high single-digit range.
8/11 update: Buy above the $11.50 support range and place the stop loss below the recent pivot low of $11.48.
Evolution Mining is under Algo Engine buy conditions.
Trader instructions
Buy: @market above $3.50 support
Sell: stop loss $3.45
Northern Star Resources is under Algo Engine buy conditions and is our preferred gold exposure.
Trader Instructions
Buy: @market above $9.00 support
Sell: stop loss $8.90
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.
Reliance Worldwide Corporation was added to our model portfolio on 29 September and it’s now up 25.3%
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