Joint Statement by Baillieu Limited Chairperson David Trude and Managing Director Gavin Powell

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Stocks for the Australian restart

Australia is beginning to restart sectors deeply affected by measures to contain COVID-19. We expect Australia to achieve a successful, V-shaped recovery for five reasons: i) world-leading success containing COVID-19; ii) the satisfaction of rigorous criteria for a safe restart; iii) the unprecedented fiscal and monetary support and stimulus that is beginning to flow; iv) the windfall from the oil price crash; and v) the support from Asia’s FIFO recovery.

A restart with be particularly positive for seven ASX industries, including the banks, beverages, discretionary retail, leisure, transport and infrastructure, housing and online classified businesses. On the other hand, spending will start to move away from the food retailers.

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