Australian retail shares have had a rough year, and today isn't doing much to change that.
According to The Australian, Morgan Stanley has taken another look at the retail sector following the latest reporting season.
The Westpac-Melbourne Institute Consumer Sentiment Index fell 5.2% to 84.4 in September.
Harvey Norman shares are down 0.96% to $4.13 in Friday trade.
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The S&P/ASX 200 Consumer Discretionary Index is down 0.4% to 3,477 points in late morning trade. Morgan Stanley still sees plenty to worry about from here.
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The article, shortened and in plain language
Australian retail shares have had a rough year, and today isn't doing much to change that.
The S&P/ASX 200 Consumer Discretionary Index is down 0.4% to 3,477 points in late morning trade.
According to The Australian, Morgan Stanley has taken another look at the retail sector following the latest reporting season.
Consumer spending held up better than Morgan Stanley expected through FY26, but the broker still sees some risks ahead for households.
The RBA has lifted the cash rate 3 times this year, taking it to 4.35%.
The Westpac-Melbourne Institute Consumer Sentiment Index fell 5.2% to 84.4 in September.
National home prices fell 0.2% in August, marking a fifth consecutive monthly decline from their March peak.
Morgan Stanley isn't negative on every retailer, but it has still cut price targets across its discretionary retail coverage.
Harvey Norman shares are down 0.96% to $4.13 in Friday trade.
Morgan Stanley has kept both stocks at underweight, with the shares trading at $65.77 and $12.37, respectively.
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