Author: Harry Watt
Afterpay (APT) +23.8%: continued its run today, nearly topping $40 again for the first time since late February. News broke on Friday night that Tencent had taken a chunk of APT stock to the tune of around $400m. Tencent is a Chinese based payments, communications and social media company owning the likes of WeChat & Weixin Pay, […]
ANZ +1.44%: despite finishing the day higher, it was a tough slog for ANZ which trailed its Big 4 peers throughout the session. Their first half result was light on compared to NAB’s at the end of last week, and although the market wasn’t expecting much, it did feel like it fell short. Impaired assets […]
Coles (COL) –4.14%: out yesterday morning with a very strong sales update. Supermarkets experienced like for like sales growth of +13.1% on 12 months ago, with not only a strong (and expected) COVID-19-driven ‘pantrydemic’ episode but also a strong January and February by the look. They also said price inflation was +2.6% vs. +0.9% this […]
Lendlease (LLC) +8.8%: resumed trading today after successfully getting a $950m capital raise away. At $9.80 a share, those lucky enough to land some are already 18.5% ahead with new shares offered at a 9% discount to the last price. A share purchase plan is now underway in an effort to take the total raised […]
Wesfarmers (WES) +0.29%: Provided a trading update this morning which showed sales at Bunning’s up +5% for 3Q20, while Officeworks was up by 8%. Bunning’s is the key driver for WES accounting for more than 50% of their earnings and clearly the sales momentum has continued through this period of disruption. Kmart and Target sales growth […]
NAB: the first bank to report their half year for the season – they brought forward their result to get the jump on the other banks. The result itself was largely inline – net interest income up 2% despite a small decline in net interest margin. Expenses offset the increase in net interest income by […]
HUB24 (HUB) +3.59%: bucked early weakness and traded strongly off the lows to fare better than the index after a reasonable 3rd quarter update. While not providing financials, the update showed a 5% hit to FUA against the backdrop of a 24% hit to the ASX in the same period as falling investment values were offset by […]
BHP Group (BHP) -2.5%: traded largely in line with peers and the broader index today after posting a reasonable set of 3rd quarter production numbers. Production was down on the second quarter across the commodity deck as is normally the case given the seasonal headwinds faced, though numbers seemed a tad light on for petroleum & […]
NAB -2.38%: it was NAB’s turn today to confess ahead of reporting season. The bank increased remediation provisions for the half to $288m pre-tax while changes to software capitalization will have a $742m impact on earnings and the carry value of the investment in MLC Life will be reduced by 20% for a $214m hit […]
Afterpay Touch (APT) +29.09%: This morning provided a Q3-20 trading update confirming they’ve grown strongly, although they are seeing some moderation into quarter end and year on year. $2.6Bn was spent through APT for the quarter, which is up 97% on last year. The USA continues to remain the groups largest growth engine with 263% growth […]
