We certainly didn't expect such a bearish outlook and they haven't given any earnings guidance, which is a pretty negative sign.

273

In the mining sector, we do see consolidation going ahead. Some of the zinc producers, given the supply and dynamics may look attractive.

213

We're expecting even more weak data to come out of the U.S.. We're not excited about stocks that are linked to the U.S. demand cycle for at least the next three to six months.

195

Global steel prices are simply unsustainable.

145

The cost of the expansion is higher than we expected, but diamond prices and demand have been buoyant, which means the project will meet returns targets.

125

The result and dividend exceeded our forecasts. The company is saying it has many opportunities to pursue, highlighting a strong deal pipeline.

123

Funds management has been a standout, but is as expected, given the strong investment markets. Business lending is also strong and has slightly offset weakness in Westpac's home-lending segment.

115

The volatility of international equity, interest rate and currency markets has the potential to significantly alter the value of the funds' assets.

109