PBG is an importer. The currency has improved from 65c to the current 74c in exchange rate has improved its buying price by a reduction of 20%. Quote from air news is encouraging.
" Retail sales have come in better-than-expected – they grew 2.2% in March and 1% for the quarter. Economists had predicted a rise of 0.5% for the month and 0.8% for the quarter. Trade surplus has also come in better than predicted – it shot out to $2.50bn, the market expected $1.75bn"
Now for the TA aspects, the all ords is currently down over 20 points but PBG is up 1.5c.
All the above augurs well for PBG.
PBG Price at posting:
78.5¢ Sentiment: Hold Disclosure: Held
