Market ends the week glass half full
WHAT MATTERED TODAY
Another relatively strong session in Australian today with the market showing strong resilience in the face a fairly bleak night in the US where the DOW Jones was off -327points and the Nasdaq was hit by -2.23%. This morning, SPI Futures were down ~50pts however a positive move in the much maligned banking stocks helped the index significantly outperform overseas leads, although Asia was mildly better today.
I’ve recorded a quick overview of the week below which takes a look at some of the trends that have played out. Not a lot of new content to be honest however it sums up trade for those interested on a Friday afternoon. Have a great weekend all and keep an eye out for the Weekend Report on Sunday - James
Today the ASX 200 closed down 2 points or -0.05% at 5939. Dow Futures are up 65 points/+0.26%
ASX 200 Chart
ASX 200 Chart
CATCHING OUR EYE;
Sectors this week;
Stocks this week;
Broker Moves;
• Steel & Tube Cut to Underperform at Forsyth Barr; PT NZ$1.35
• St Barbara Upgraded to Neutral at Citi; PT A$4.30
• Restaurant Brands NZ Raised to Neutral at First NZ Capital
• Sandfire Upgraded to Hold at Morningstar
• Steadfast Downgraded to Hold at Morningstar
• Ansell Upgraded to Neutral at Credit Suisse; PT A$23.50
• Aurizon Upgraded to Outperform at Credit Suisse; PT A$4.50
• OceanaGold Downgraded to Hold at Canaccord
• CSL Upgraded to Buy at Citi
• Money3 Downgraded to Hold at Shaw and Partners; PT A$2.33
• Woodside Upgraded to Neutral at JPMorgan; Price Target A$37
OUR CALLS
No changes in the MM portfolios today
Have a great night
James / Harry & the Market Matters Team
Disclosure
Market Matters may hold stocks mentioned in this report. Subscribers can view a full list of holdings on the website by clicking here. Positions are updated each Friday, or after the session when positions are traded.
Disclaimer
All figures contained from sources believed to be accurate. Market Matters does not make any representation of warranty as to the accuracy of the figures and disclaims any liability resulting from any inaccuracy. Prices as at 19/10/2018
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