Bellamy's slides again as analysts slash forecasts
As investors continue to flee Bellamy's, brokers are hurriedly re-rating the company.
Jessica Sier writes on business, markets, news and real estate. Based in our Sydney newsroom, Jessica is also a multimedia producer.
As investors continue to flee Bellamy's, brokers are hurriedly re-rating the company.
A broad sell-off pushed shares lower on Friday, with the reversal of the mining rally and profit taking dragging the ASX to a weekly loss.
Energy stocks lit a fire underneath the ASX by adding over $5 billion to the market, after OPEC agreed to an output cut.
Every year as investors turn their attention towards cricket, beer and strained familial relations, they also turn bullish on a Santa Rally.
"Hot money" is set to flow out of the energy sector if the Opec cartel fail to reach a production cap agreement.
The ASX fell almost 1 per cent as investors ignored climbing metals prices and instead sold energy stocks after oil dropped sharply.
Will Karoon Gas's large cash holding save the company should its Petrobras deal-of-the-year fall through?
After months of negotiation and speculation, OPEC meets on Wednesday to hammer out an oil production deal while investors will also be keenly awaiting the US jobs report on Friday.
The sharemarket burst through 5500 to a three-month high, as commodities spearheaded a solid week of gains.
Several factors may cause the Australian economy to record its fourth quarter of negative growth in 25 years, Morgan Stanley analysts have warned.
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