Buried in data I was recently trawling was a list of the ASX Top 100 biggest losers for 2018-19. I thought it would be intriguing to see if the analysts/experts think these losers could become winners in 2019-20. The answer? A resounding “Yes” to 24 of them!
Thanks to a great half year in 2019, our S&P/ASX 200 Index was up 6.49% for the financial year, closing at 6618.8. Morgan’s Raymond Chan calculated that the trading range was a huge 1,281 points (or 20%) with a high of 6691 on 27 June and a low of 5410 on 24 December.
Ray did a few more data collections to tell us that iron ore was up 71%, due to Chinese demand and problems for Vale in Brazil, after a tailings dam disaster. Meanwhile, gold was up 13% on central bank easing, recession fears and Trump versus Iran concerns.