Talking Stock - Market Leaders 2 October 2018
There’s always a market leader.
This fortnight, as the market has recovered some of the losses in early September, the stand-out groups have been:
Mining Companies remain within the top performing group. A Falling AUD helps, although there is more than FX at play here. Gold Producers Rand Mining (RND), Tribune Resources (TBR) and Aurelia Metals (AMI), have all performed well this fortnight.
Energy companies are also benefiting from the falling AUD. Leigh Creek (LCK) have recently received approval for their gas operations and shot up 37%for the fortnight. Terracom (TER) and Horizon Oil (HZN) have also provided strong returns over 20% in the last two weeks.
Health Care has been the most interesting space, namely dermatological companies Avita Medical (AVH), Clinuvel Pharmaceutical (CUV) and Polynovo (PNV) who operate in similar skin grafting, skin repair, spray-on skin areas and performed well this fortnight. Rhinomed (RNO) has been the top performer +65% in two weeks after signing a 12 year licensing agreement with America’s largest medical cannabis operator to leverage RNO’s patented nasal technology platform.