DELTA roared it’s way up to ensure that the SET finished the year up, it’s going to be amusing to watch the SET defend its weighting in both the SET and SET50. DELTA – now a 5% weighting, the second largest on the SET and returned 100% last year! Do some #’s and you’ll see what the return is excluding DELTA, just amusing how markets work at times.

As for this year – it’s going to volatile – I still wouldn’t be surprised to see the margins of the plc’s continue to expand as they’ve already cut costs and are enjoying the higher market share. I still think commodities are the place to be.