1205 [Dow Jones] Copper set to drive materials complex and resources higher, says Charlie Aitken, executive director at Southern Cross Equities. "If we are right and copper moves into a new higher trading range it will take the whole materials complex with it...The outperformance of materials stocks over the broader financials/industrials will be dramatic, potentially more dramatic than at any time so far this cycle due to the dramatically superior earnings growth profile." Aitken says hedge funds have been caught short BHP (BHP.AU), Oxiana (OXR.AU), Fortescue (FMG.AU), which he says, are cum heavy consensus upgrades to FY09 earnings estimates. (DWR)
HGO will benefit and get big value from copper in 2009, when start mining.
Excellent timing.
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