Dear %%first_name%%,
The banks might be reporting stellar results – ANZ today said cash earnings for the six months to the end of March were up 11% to $3.5 billion – but the market isn’t that impressed and neither are the brokers. Charlie is downgrading the sector to neutral, after most of the banks have hit his targets, six months ahead of schedule.
But that doesn’t mean you should sell them. I’m certainly not! Dividends are still strong and I’ll be holding my banks for some time to come.
Also in the Report today, we have Part 2 of our SSR investigation into takeover targets by Tony Featherstone. Today we have another six companies including Wotif.com.au, NRW Holdings and LIC Westoz.
Add some international flair to your portfolio with London Stock Exchange listed Rolls-Royce, which is a favourite of Wingate Asset Management portfolio manager, Alastair Macleod and in Buy, Sell, Hold – what the brokers say, CBA gets upgraded as Westpac and NAB are downgraded.
Tony Negline explains why family feuds do nobody any good and in Questions of the Week, Switzer Super Report expert Ron Bewley tells us when his yield portfolio will be ready.
Sincerely,
Peter Switzer