1. China – Australian central bank governor optimistic despite recent market falls: ‘The effect this will have on the Chinese economy is not clear, but may prove to be relatively small. Share prices have stabilised in recent days and authorities have been making financial conditions more accommodative. Households' direct exposure to equity prices is relatively small, notwithstanding their large share of turnover’…however China’s business sentiment went negative with the MNI China Business Indicator dropped 8.8% in July to 48.8 below the 50 mark that separates optimism from pessimism and graph not looking great.
2. I retain my previous thoughts on Coca-Cola (link here) despite reiterated and 'workable' results:
3. I quickly run through Boeing, Whirlpool and Tupperware numbers...and determine levels for all three where I would get active:
4. EMC still looks interesting to me...despite pulling back its hopes for FY15 (and indicative of low expectations towards the stock, it ends up on the day).
5. Many more numbers out today...and tomorrow but a touch of interesting macro/asset allocation work to end up with. The value is still with equities...you just have to stock pick appropriately