Business
ASX slips; Eclipx rises on Right2Drive sale – The Australian Financial Review
The Australian sharemarket is trading weaker through the middle of the session; Global efforts to provide more stimulus appear to have hit a snag; South32 achieves production guidance; Sydney Airport passenger numbers rebound.
L1 Long Short Fund says a significant proportion of stocks globally are trading at “deeply discounted” valuations, arguing that highly valued technology and healthcare stocks could be sold to fund a rotation into “bombed out” cyclical stocks.
The fund manager says the outlook for equities is positive despite the prospect of elevated volatility over the next one to two quarters, saying valuations – especially for value and cyclical stocks – look attractive compared to cash and bonds in an envir…
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