In Australia there are two major grocery companies, Woolworths and Coles. Now suppose I work for Woolworths and I become aware of a technological breakthrough that will dramatically increase the popularity and profitability of Woolworths which has yet to be publicly announced.
Obviously I cannot trade Woolworths shares using this knowledge to profit. However assuming I have no inside knowledge on the competing company Coles, am I able to legally trade (in this case sell) Coles shares using my knowledge of Woolworth's recent development?
More generally, if I have inside knowledge on one company in a particular industry, could this prevent me from trading any company in such industry?