FNArena’s Weekly Insights – February 27 2023
In This week’s Weekly Insights:
-February’s Sobering Reality Check
-Research To Download
By Rudi Filapek-Vandyck, Editor FNArena
February’s Sobering Reality Check
Australian businesses are doing it tough. Maybe the easiest way to back up that statement is via FNArena’s Corporate Results Monitor.
By late on Friday, the Monitor had aggregated 241 corporate results of which 31.5% (76 results) had managed to beat expectations and 29.5% (71 results) had failed, with the remaining 39% (94) performing in line.
Price targets on average had increased by 0.23% but in aggregate 241 price targets in total have not moved at all (-0.03%).
Share price-wise, most reports have triggered selling pressure and the major indices are down more than -3.5% for the month on Monday. All it takes from here is one or two negative trading sessions and those sharp gains booked in January will be gone.
