Opinion: Weak applause: Why Seven and Seek didn’t get a positive reception from stellar profits | EKnightOfficial
The fact that a better-than-expected set of results from Kerry Stokes’ Seven West Media was rewarded with a share price nosedive says plenty about jittery investors holding a collective breath anticipating a weakening economy.
On Tuesday, it forecast continued strength in the jobs market for the next year as it reported net profit up 81 per cent. But by mid-afternoon its shares had dived by about 6 per cent. Based on the minutes, Capital Economics suggested September would bring another half a percentage point rise in the interest rate.
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