Market Matters Afternoon Report Friday 19th August 2016
Good Afternoon everyone
Market Data
What Mattered Today
Reporting, Reporting, Reporting….continues to dominate trade with the good and bad offsetting one another. The ASX 200 is down -4pts for the week – so a bit of a yawn in aggregate but a lot of big swings from individual companies. It actually feels like we’re writing the same thing on a daily basis – which we might be, and it’s frustrating.
We had a range of +/- 28 points, a high of 5533, a low of 5504 and a close of 5526, up +19 points or +0.34%.
ASX 200 Intra-Day Chart
In terms of our portfolio, we’ve got a few things doing well and a few not. Woodside (WPL) for instance reported good numbers this morning and was up another +1.23% by the end, closing at $28.90 but it was a long way off the session highs. Offsetting that was Origin Energy (ORG) which was soft again, and in all fairness, looks pretty average after today’s close.
Woodside (WPL) – Daily Chart
Independence Group (IGO) traded well adding +4.76% - we’re happily long here from the $3.80 region yet CSR is struggling around the $3.72 region.
Independence Group (IGO) daily chart
What sets Markets Matters apart from other reports is our openness, our transparency, and our practical approach. We make calls, back them and see them through to the end. We’re investors, working and trading in the markets daily, and like you, we get frustrated and at times annoyed. We’re in that frame of mind this afternoon.
Lend Lease (LLC) reported full year numbers which were good – a FY16 profit after tax of $698.2m (+13%pcp)and a 2H16 DPS of 30.0¢, bring full year DPS to 60.0¢. As usual, no guidance was provided. Growth looks good for this stock yet there remains concerns about residential property in Oz – particularly units while whispers of overseas (Chinese) buyers defaulting continue to be rife – but well and truly overblown if LLC and Mirvac (MGR) commentary is anything to go by. Earnings growth set to continue in FY17 for LLC.
Lead Lease (LLC) Daily Chart
Telstra (TLS) looks like it’s finding some yield support at current levels…Oversold on the daily and potentially bouncing.
Sectors
Source; Bloomberg
ASX 200 Movers
Reporting this week
NPAT = net profit after tax (consensus numbers)
EPS = earnings per share (consensus numbers)
DPS = dividend per share (consensus numbers)
Select Economic Data – This week; Stuff that really Matters in Green
What Matters Overseas
FUTURES are flat – Dudley speaking tonight will be interesting….
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 19/08/2016. 5:00PM.
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