Pavan Sharma

A2 Milk shares slumped -11% yesterday after delivering a weak result which was mostly expected by the market.

We focus on local earnings season today as global market moves were muted overnight, ahead of fresh clues around the path of interest rates from central bankers at the Jackson Hole meeting.

We remain BUY rated as our favoured large cap NZ retirement village with strong growth potential, while also remaining reasonably priced.

Global markets were higher overnight, as US markets (S&P 500 +0.8%) closed just shy of fresh record highs.

Global markets were mixed on Friday, as US markets (S&P 500 +0.8%) rebounded previous session losses in a what was a fairly volatile weak amid concerns that the US Federal Reserve is looking to pull back its stimulus measures.

Technical Analysis: We see ANZ struggling to break past its key resistance level of $29.77, and based on RSI indicators is currently in the middle of a sell-off channel like in the past which could last for some time creating further downside risk over th