Austbrokers profit downgrade

Austbrokers has announced a profit downgrade, but our long term view hasn't changed.

The market is in two gears at the moment. Companies with overseas exposure are flying along in fifth gear thanks to an improvement in the US economy and the falling Aussie dollar, which breached 80 US cents this morning, the lowest point since the GFC. Companies purely exposed to the Australian economy are shifting down gears for a variety of industry and company-specific reasons.


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