APE has begun to rise from about 1430 this afternoon to above A$13.05 as new about good ABS figures re the performance of the Australian economy sank in.
Adam Creighton - usually good - in 'The Australian' online says in the September quarter 2020, the Oz economy grew 3.3 per cent. It had dropped 7.7 per cent in the previous quarter, so we're not out of the woods yet, but the latest statistic is encouraging.
Victoria with its dysfunctional government and lockdowns was the only state holding the nation back from recording an even better figure.
Given that State borders have opened with the retard being WA (where opening is next week), the economic performance should improve further.
There's now about 1.5 million on JobKeeper, down from (conservative?) Federal Government Treasury estimates.
Some challenges lie ahead, such as when from December 2020 and then late March 2021 JobKeeper is again reduced, but overall, conditions are looking up for companies like Eagers.
It's discussed in another APE thread so I won't harp on it, but one could also suggest APE is making its own luck with sound business decisions.
APE Price at posting:
$13.09 Sentiment: Hold Disclosure: Held
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