ASX to charge 6000?

Tuesday, 21 July 2015

From the AFR the spruik is on:

The comparatively low number of earnings downgrades over the past weeks is lifting expectations for the upcoming full-year reporting season, with some equities strategists going as far to say they expect the ASX to reach a high not seen since the global financial crisis.

…AMP’s head of dynamic asset allocation Nader Naeimi said now global concerns had mostly calmed, he expected even a modest reporting season to propel the ASX up to 6000 points, a level not seen since January 2008.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.