Doyen commentator, Robert Gottliebsen online in 'The Australian' this morning is claiming that his ring-around revealed that in the last two weeks, large areas of Australian retail sales have collapsed, in some areas down by 15 to 20 per cent.
However the most recent ABS data (which obviously isn't as up-to-date) suggested department store sales were up 1.5 per cent. This is still a drop when one considers CPI is running at around seven per cent if not more.
Two variances to chew the fat over.
I'd suggest in such an environment it's hard to see the MYR SP rising, but the $64 million disruptor will be if Mr Solomon Lew decides finally to lob a takeover bid. I'd like to be a fly on the wall in his office.
MYR Price at posting:
68.0¢ Sentiment: Hold Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)