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Australian Investment Blog


Why did Elders (ELD) shares crash?

ELD -24.42%: the agricultural services company saw shares smacked more than 20% today after providing FY24 guidance for the first time. The first half has been hit by falling sentiment in the sector on the back of El Nino, lower crop protection prices, cheap livestock prices and a slow start to the winter crop particularly in WA. While an improvement is expected in the 2H, Elders expect EBIT to be ~25% lower than consensus, guiding to $120-140m.


Aussie Broadband (ABB) share price tumbles while Superloop (SLC) soars

ABB -18.01% / SLC +24.76%: opposing outcomes today for the smaller telco companies, Aussie Broadband losing their white label deal with Origin Energy to Superloop, oddly enough ABB had looked to takeover SLC not too long ago. 130k users will migrate over to Superloop over the next few months, a deal that is expected to earn ABB ~$14m EBITDA over FY24.


Why did Ramsay Health Care (RHC) shares rally?

RHC +7.27%: Opened down this morning before they did a good job putting some more ‘meat on the bones’ of today’s 1H24 update, while they talked about the potential to realise value across their various business units, rolling out the private equity playbook which certainly worked on the share price, trading up to 6-month highs


ANZ kicks off bank reporting

ANZ +1.3%: Quarterly trading update today for ANZ so light on detail, however their earnings were a slight beat to expectations driven largely by solid trading revenue and another period of low bad debts. We had the UBS banking analyst John Story in today to cover ANZ and the banks more broadly. He’s very good in terms of trends within the sector and how the market is positioning around them.


Why are Metcash (MTS) shares in a trading halt?

Shares remained in a trading halt today after Metcash confirmed that it has entered into binding agreements to acquire Superior Food with for up to $412.3m, Bianco Construction Supplies (82.2m) and Alpine Truss ($64m) in a ~$560m deal.


Why did Smartgroup (SIQ) shares rally today?

SIQ +7.44%: the salary packaging & novated leasing company has got one over a rival today, picking up the South Australian Government contract off the incumbent McMillian Shakespeare (MMS).


Commonwealth Bank (CBA) shares rally on 1Q

CBA +0.96%: 1Q numbers out for the biggest of the Big 4, CBA shows it remains the quality pick of the banks with a strong start to FY24. Cash NPAT of $2.5b was around a 3% beat to consensus expectations championed by what looks like better-than-expected Net Interest Margins (NIM) despite some upward pressure on deposit pricing.


Westpac (WBC) rallies on FY23 results, buyback

WBC +1.95%: Rallied today after delivering a largely inline FY23 result, although the $1.5bn on market share buy-back announced was a positive surprise while they also made better progress on costs.


Is Treasury Wines (TWE) a buy?

On Tuesday, TWE announced the $1.6bn acquisition of upmarket Californian unlisted wine group Daou Vineyards, another foray into the US, which some would argue hasn’t been a great hunting ground for the winemaker over the last decade.

Resource sector

Uranium remains hot – what stocks do we own?

Cameco reported quarterly earnings that were ahead of expectations overnight and talked to a strong backdrop for ongoing strength in the global Uranium market – shares rose 8.06%.


Why did Whitehaven (WHC) shares fall despite a big profit

WHC -5.08%: A strong year for the coal producer with underlying revenue of $6,06bn which was broadly inline with consensus, EBITDA of $3,99bn (v consensus $4bn) & an underlying net profit after tax (NPAT) of $2.7bn which was inline with expectations.


Why did Coles (COL) shares fall on its result

COL -7.06%: FY23 numbers out for the staples business, Coles was largely in line but it looks like it gets harder from here. Revenue of $41.5b was largely in line while EBIT at $1.97b was a small miss, driven by a softer-than-expected Supermarket result.


Why did BHP Shares fall despite $US13b profit

BHP -.0.71%: A softer session for BHP following their FY23 results out this morning, with earnings coming in around 3% below consensus, while forward-looking capex was higher as cost pressures continue to work against the miners at a time when their biggest customer is wobbling


Why did Nick Scali (NCK) share price rally on FY23 results

NCK +13.27%: the furniture retailer hit 6-month highs today on a strong result but flagged a weak start to FY24. Revenue of $507m was largely in line with consensus however better margins drove a 5% beat at the profit line to $101m.


Commonwealth Bank (CBA) Reports Record Profits

CBA +2.58%: Australia’s 2nd largest company (behind BHP) released FY23 results this morning that were a modest beat to expectations as margins improved 17bps to 2.07%, ahead of the 2.05% consensus expectations.


Why did James Hardie (JHX) shares rally?

JHX +14.38%: Produced a material beat versus expectations at their 1Q24 result today exposing the many drivers they have across their business to cope with operational challenges.


Why did the ASX 200 jump on Australian Inflation Data

Inflation data for June out at 11.30am this morning came in below expectations and the market now believes the RBA will pause on rates this coming Tuesday. For June, prices increased 5.4% YoY (below 5.6% exp) while QoQ the 0.8% rate was below the 1.0% economists had tipped.


Market Matters Portfolio Performance for FY23

FY23 was a strong year for markets and we’re pleased to say, the Market Matters Portfolios captured this strength. In this week’s video update we discuss the performance of the Market Matters Portfolios and our positioning for what comes next in FY24.

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