Original article by David Rogers
The Australian – Page: 27 : 28-Aug-18

The average forward price-earnings multiple of the 25 most expensive stocks in the S&P/ASX 300 has risen by 9.8 per cent since these companies reported their latest financial results, while the PE multiple of the indice’s 25 cheapest stocks has contracted. Jason Steed of JP Morgan has attributed the PE expansion to factors such as momentum buying, short covering, deployment of high cash balances and the recent political uncertainty. Meanwhile, Steed notes that 30 per cent of the stocks that JP Morgan covers have exceeded expectations during the August reporting season, while 28 per cent have failed to meet expectations.

CORPORATES
STANDARD AND POOR’S ASX 300 INDEX, JP MORGAN AUSTRALIA LIMITED, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, MONADELPHOUS GROUP LIMITED – ASX MND, COCHLEAR LIMITED – ASX COH, COCA-COLA AMATIL LIMITED – ASX CCL, TPG TELECOM LIMITED – ASX TPM, REA GROUP LIMITED – ASX REA, MYER HOLDINGS LIMITED – ASX MYR, APA GROUP – ASX APA, CHEUNG KONG INFRASTRUCTURE HOLDINGS LIMITED, HUAWEI TECHNOLOGIES COMPANY LIMITED, ZTE CORPORATION, DEUTSCHE BANK AG