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 of 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 of one company in a particular industry, could this prevent me from trading any company in this industry?