Portfolio Positioning: The RBA finally gives equities some cheer

The ASX200 embraced the RBA pause yesterday rallying +0.6% after the announcement on fairly broad-based buying that saw over 70% of the main board close higher, positive sentiment was compounded by a fresh bout of M&A action with Costa Group (CGC) and Austal (ASB) reminding Active Investors like ourselves that stocks will only remain undervalued for so long before the buyers surface. All local stocks need now is further economic stimulus from China and a break out to all-time highs will be back on the table, now less than 5% away.

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Afternoon report 03/07/2025 17:05

The March Out: ASX flat, though plenty of fireworks under the hood

The sector/stock divergence that we’ve been highlighting recently stepped up a notch today as BHP outperformed CBA by more than 7% while there was some big moves in some of the beaten down commodities in particular following positive trends overseas.

Alerts 03/07/2025 10:01

Trade Alerts – Income Portfolio

We are making several changes to the Income Portfolio today

Morning report 03/07/2025 09:37

What Matters Today: Fund managers start to fire as the ASX tests all-time highs

The ASX200 enjoyed a strong session on Wednesday, briefly taking the market back above 8600 before drifting back slightly into the close. The miners led the gains from a points perspective, with the materials sector contributing almost 50% of the day's gain, led by BHP, which delivered 18% of the advance on its own. However, from a sheer performance perspective, the fund managers dominated the winners' enclosure, taking out the top 3 spots - more on these guys later.

Afternoon report 02/07/2025 16:59

The Match Out: ASX knocks on all-time high, Domino’s dusted!

Some volatility on the stock level hit today, with Dominos whacked as the new CEO resigns, Helius lost another big customer and fell ~20% while UBS scattered a couple of Tom Thumbs in the wealth/funds management sector, taking a more favorable stance – a topic we’ll look at tomorrow morning. By the close, the market was back testing 8600, some 80 points above the midday low, and the bullish vibe has now hit July!

Alerts 02/07/2025 15:25

Trade Alert – International Equities Portfolio

We are trimming an international stock after a strong run

Income Report: Asset allocation framework when targeting income

Morning report 02/07/2025 09:55

Portfolio Positioning: MM is looking to “tweak” portfolios into FY26

The ASX200 has started July in subdued fashion, remaining unchanged after its first two trading sessions. As would be expected after a quiet start to the week and month, news was thin on the ground, but we did see some action starting to unfold on the stock level.

Afternoon report 01/07/2025 16:58

The Match Out: A flat start to FY26 for Aussie stocks

A lacklustre first trading session of FY26 with the index trying to push higher early but faltering before the closing bell. All those itching to sell CBA can now do so without paying tax for a while prompting some re-allocation amongst the banks - ANZ the standout today up +2.5% while CBA fell by 1.2%. It was fairly quiet elsewhere.

Morning report 01/07/2025 09:28

What Matters Today: Looking in the rearview mirror & through the windscreen into FY26

A slightly shorter report today as we take a deep breath after our busiest day of the year. As the saying goes, there are two certainties in life: “death and taxes”. At MM, we see it big time with investors taking out subscriptions ahead of the EOFY, a great win-win in our opinion.

Afternoon report 30/06/2025 17:22

The Match Out: ASX finishes FY25 up +9.98%, James Hardie (JHX) rallies on takeover approval

A solid final trading session for the financial year was underpinned by strength in the banks early after their U.S counterparts passed financial regulator stress testing with flying colours overnight, though it wasn’t to last with the move reversing through the session.

Morning report 30/06/2025 09:47

Macro Monday: Should we chase stocks into fresh all-time highs?

The most recognised equity index in the world, the US S&P 500, posted new all-time highs on Friday, leaving many fund managers and retail investors apprehensive about chasing the rally into the second half of 2025.