sentix ASR Essentials 37-2015
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13 September 2015
Posted in
sentix Weekly
Utilities deeply unloved
The latest sentix survey suggests that while equity markets remain volatile, investor sentiment has not been pushed onto a more defensive footing in terms of their sector preferences. In terms of the more cyclical sectors, survey participants have actually become a little less downbeat on Basic Resources, Energy and Autos, while the tide of optimism on Construction versus the market continues to rise. At the same time, sentiment towards defensives such as Food & Beverage and Healthcareversus the market has modestly weakened over the past month, albeit sentiment towards both sectors remains positive. The same cannot be said for Utilities. Already deep pessimism on Utilities has hit historic extremes in the latest sentix survey (see Charts 2-3).
