![]() NEWSLETTER AUGUST 2012 |
Peregian Accounting Services Unit 3 12 Grebe Street Peregian Beach Q 4573 |
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What's been happening with stocks lately? Much has been made of the resources boom in Australia, particularly in Queensland and Western Australia, but the resource majors have been weak of late, with the steel sector taking another hit like it did last year. Market conditions are bear-ish, which is affecting a wide range of miners, as well as stocks with interests in oil and gas.
With the media attention over Hancock Prospecting's bid for board representation in Fairfax Media, Newscorp's fourth quarter loss attributed largely to a writedown in value of its Australian newspapers, and continuing industry-wide layoffs, media stocks are also looking dire. Meanwhile banking stocks are on the up, although it remains to be seen if this will be a continuing trend. Other sectors showing solid uptrends include Utilities, Telecommunications and Food & Beverages. Health Care stocks feature heavily on watch lists at the moment too, particularly CSL and Ramsay Health Care (RHC): 2 of the 7 stocks on the Australian Associated Press' watch list on Monday August 6 2012 were Health Care stocks (CSL and RMD). The others were APA, HDF (Utilities fund), BHP, OMH (minerals) and OSH (oil & gas). ALERT: Directors May Now be Personally Liable for Some Payroll Obligations
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