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Australasian Equities

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Core

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Time to Make Friends Japanese shares have been trading upwards since last week with the Nikkei 225 Stock Index up 3.4% to near 22,000 level as investor fears eased with the release of positive developments on the trade front and lower tensions on the Korean peninsula. That news was further supported by a good batch of economic data from GDP to labour data. This has reinforced our view on the Platinum Japan Fund (ASX:PJF) and as such we upgrade the recommendation

Flexigroup (ASX:FXL)

Speculative

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Noticeable Improvements Consumer Credit player FlexiGroup (ASX:FXL) recently released its interim performance numbers which point towards some noticeable improvements, especially in corporate debt load. We also see that the Certegy business is making progress with its return to growth while the consumer leasing business has recently brought to market a new brand to factor in new government regulations. Overall, we remain optimistic towards group over the longer term, though the short term may still be bumpy as management steers the business

Nufarm (ASX:NUF)

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Becoming a Bigger Fish Shares of crop protection company Nufarm (ASX:NUF) have ticked up over the past month, supported by broker upgrades following acquisition activity and expectations the company could be entering a significant growth phase. Nufarm also got a boost last month from Australian regulators approving the company’s GM omega-3 canola for use in feed and human consumption. The new proprietary product could also have a significant environmental benefit, with one hectare of the canola set to provide the omega-3 yield

Sonic Healthcare (ASX:SHL)

Core

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Still a healthy diagnosis Sonic Healthcare’s interim results were positive with the pathology provider reporting it is on track to meet full year guidance. Revenues increased by a healthy 8%, while EBITDA gained 9% and net profit surged 16%, bolstered by a one-off net tax benefit in the United States. We retain a positive view on the long-term prospects for the company given scope for expansion offshore. 1H18 snapshot Sonic Healthcare (ASX:SHL) reported a statutory profit of approximately $229 million for the interim

TPG Telecom (ASX:TPG)

Speculative

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Another potential reunion In last week’s report we covered off Vocus Group as a traffic light, with the stock having been one of our more satisfying recommendations in recent years, getting exposure around the bottom, and selling out close to what has proved to be a top. We discussed how a significant loss in shareholder value, more appealing investment metrics, along with the prospect of new management, and a lower debt load, gave cause to put the company back on our

Platinum European Fund (PLA001AU)

Core

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Rise of the Populists: A Fragile Union European stocks as represented by the STOXX Europe 600 snapped a losing streak Monday as Angela Merkel party got the support required to form a coalition. That was partially offset by the General Elections in Italy which indicate a hung (divided) parliament with the leading rival parties reeking of strong anti-EU sentiment. Ultimately though, we maintain a positive view for the Eurozone given its strong economic momentum and as such we maintain our BUY recommendation on the Platinum

South32 (ASX:S32)

Speculative

high

1H18; clipped a little but that’s all The positive momentum we have seen in the short-time South32 (ASX:S32) has been reporting its financials to the market diminished a little with the release of its 2018 first half result. Prices played a major role in the better underlying earnings result, but the company was not able to leverage its operations to gain maximum advantage. The balance sheet remains in top shape, while shareholders received a first half boost from a top up

Ardent Leisure (ASX:AAD)

Core

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Still Along for the Ride Ardent Leisure (ASX:AAD) recently released its half-year results, showing that there is still a lot of work to do given the declines on the top and bottom lines compared to last year’s results. However, we are pleased to see that there have been improvements in the Theme Park and US-based Main Event businesses so far in the second-half while the selection of a CEO for the Main event business will give it the needed direction. Recap and

About these archived stock reports

These are archived Fat Prophets equity research stock reports and share analysis. They do not constitute current investment advice, financial product advice, or a recommendation to buy, sell or hold any financial product. They are provided for historical reference only, and reflect the market conditions, company information, forecasts and opinions available at its original publication date. The information may no longer be current or applicable. Past performance is not a reliable indicator of future performance.

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About these archived stock reports

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