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.
Is a recession priced in stock markets?
My Bloomberg terminal is filled with bears, Blackrock says we should shun most stocks as the market is simply not pricing in a recession and a ‘hard landing’ sort of scenario while Goldman Sachs has downgraded equities to underweight in their asset allocation matrix, a similar move made by Shaw’s Chief Investment Officer a few days ago, saying that evidence that inflation is becoming persistent means higher interest rates, tightening financial conditions and slower world growth.
Why is Oz Minerals (OZL) rallying today?
This morning, OZL rejected an unsolicited, conditional and non-binding indicative takeover proposal of $25.00 per share in cash from BHP.
The RBA hike official cash rates by 50bps
While we thought 0.40% was the right level, it was perhaps our OCD that played into this (would have left rates at 0.75%), however Governor Lowe did what only 10% of economists thought he would and took a more aggressive stance.
Bubs (BUB) share price soars on US deal
BUB +40.21%: the infant formula company received FDA approval to sell tins into the US market today.
Oz Minerals (OZL) share price slides despite solid quarterly
OZL -2.89%: Production numbers out today that came in at the bottom end of the guided range for Copper
Portfolio Performance – How have the Market Matters Portfolios fared?
In this weeks Market Matters Video Update, James & Harry cover portfolio performance for the month of November
Regis Resources (RRL) shares fail to rally on strong update
RRL -3.29%: Hosted its first exploration update today and they’ve committed to doing these twice a year to improve communication with the market
Capitol Health (CAJ) rallys with AGM update
CAJ +7.25%: the diagnostic imaging company hosted their AGM today with a solid performance update which helped the stock higher.
Calix (CXL) brings on ESG investor
CXL +39.69%: Our most recent purchase in the Emerging Companies Portfolio crashed through all-time highs today after selling a portion of a subsidiary to a US ESG investment firm.
Why are shares in The Reject Shop (TRS) down today?
TRS -10.28%: shares in discount supermarket business The Reject Shop have been sold off hard today.
Income Report: Asset allocation framework when targeting income
A better day for Aussie stocks playing out with the index tracking marginally higher at time of writing. The banking sector is providing some weight with ANZ down 0.74% to be the worst performer in the sector after passing on the full 0.25% cut to rates yesterday, while NAB is performing ‘relatively’ well down by just 0.08%. We trimmed our banking exposure in the Growth Portfolio yesterday, however have elected to retain current weightings for now in the income model.
