Author: james Carter
An update of where I see the market & five companies that reported yesterday
• The ASX 200 broke its 3-day winning streak, ending 36 points lower at 5,908 on Frebuary Equity options expiry day.• The Banking sector looked exhausted from recent moves. Commonwealth Bank closed 0.5% lower at $90.42 and Westpac (WBC) down 0.5% at $37.68• The Iron Ore sector had little change, with BHP Billiton (BHP) up 6c at $33.56 despite trading 30c lower in the US markets overnight.• Reporting season standout wrap 26 February 2015:
Funds are still looking for a home and big companies are reporting. This equals strength.
• The ASX 200 inched higher again today, up 18 points at 5,945, its third consecutive day in positive territory.• The materials sector rallied in the afternoon after the HSBC China Markit PMI reported at 50.1 meaning an improvement. BHP Billiton (BHP) closed 1.3% higher at $33.50 and RIO Tinto (RIO) up 0.7% at $63.58.• Crown Resorts (CWN) lost ground today, down 2.9% at $15.21 following the shares of Macao casino operators trading weak in Hong Kong due to softer than expected gambling.• Reporting season standout wrap 24 February 2015:
Looking at another six companies who reported yesterday
• The ASX 200 closed slightly higher, up 19 points at 5,927 as investors focused on corporate earnings.• The banking sector closed mixed, National Australia Bank (NAB) down 0.2% at $37.58 while Commonwealth Bank closed 0.7% higher at $91.04.• Reporting season standout wrap 24 February 2015:
The best performance comes from well-timed patience
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Another six companies with interesting reports yesterday
• The ASX 200 had a breather today, down 23 points to 5,881.• Reporting season continues and here are the standout:o Transpacific (TPI) closed 11% lower at $0.795 after announcing its earnings well below estimates.o Medibank (MPL) reported its first half earnings, above consensus, however MPL closed 3.5% lower at $2.47.o As expected, Santos (STO) reported a net loss of $935mln for the year. STO closed 2.6% lower at $8.03.o STW Communications (SGN) sold off aggressively, down 22.9% at $0.79 after posting disappointing earnings, well off from consensus.• Please watch out for the Hickman report on Sunday.
Really bullish, there's more to go in the reflation rally
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