Original article by Vanessa Desloires
The Australian Financial Review – Page: 23 : 24-Jul-15

Analysis by Morningstar shows that the Australian sharemarket is currently trading at a price/earnings ratio of 15.5. The market’s earnings yield is 6.5 per cent, while the yield on 10-year bonds is around three per cent. Morningstar believes that the local sharemarket still offers value, and it favours large-capitalisation stocks such as National Australia Bank, BHP Billiton, Veda Group, Santos and Goodman Group.

CORPORATES
MORNINGSTAR PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BHP BILLITON LIMITED – ASX BHP, VEDA GROUP LIMITED – ASX VED, PLATINUM ASSET MANAGEMENT LIMITED – ASX PTM, GOODMAN GROUP – ASX GMG, SANTOS LIMITED – ASX STO, AWE LIMITED – ASX AWE, ALUMINA LIMITED – ASX AWC, ATLAS IRON LIMITED – ASX AGO, FORTESCUE METALS GROUP LIMITED – ASX FMG, ARRIUM LIMITED – ASX ARI, STANDARD AND POOR’S ASX 200 INDEX, AMP CAPITAL INVESTORS LIMITED, UNITED STATES. FEDERAL RESERVE BOARD