Five Blue Chips beating the market
Five ASX Blue Chips have managed to go up while the rest of the world markets have fallen in February 2018 thus far.
The Australian share market is down -3% since the start of February, many blue-chips have fallen further.
The five leaders are:
AMP +0.75% – reported better than expected
BHP + 2.38% and RIO +5.65% – long term earnings looking up in response to the US Tax cuts.
RIO CFO Christopher Lynch described “Chinese economic growth was resilient during 2017 and global conditions have improved, which has seen higher pricing in most of their products”.
CSL +3.76% – Strong report with abnormally high levels of vaccine in response to a sever strain of influenza in the US.
IAG +4.73% - Reported better than expected