Archives: Reports
The ASX was hit early on the Iran conflict, down ~1% before recovering as the day progressed to finish a couple of points higher – not a great day for the bears who sold early. US Futures were trading down 1% at the outset, and while they recovered ~0.20% throughout the session, the resilience by the ASX was impressive, underpinned by Gold, Energy & defensives.
Over the weekend, the US and Israel have launched coordinated strikes on hundreds of Iranian military targets, including Revolutionary Guard facilities, air defences and missile sites, in an effort to cripple Tehran’s capabilities and halt its nuclear ambitions, killing Supreme Leader Ayatollah Ali Khamenei. Tehran retaliated with missile and drone attacks on Israel and US-linked targets across the Gulf, including in Saudi Arabia, Qatar and the UAE, although regional defences intercepted most threats. The escalation has heightened fears of a broader Middle East war, with airspace closures and rising geopolitical tensions.
Last week was again volatile at the stock level as the local reporting season drew to a close, but the index forged ahead, absorbing what was thrown at it and closing up 1.3% at a new all-time high. The materials sector continued to do the heavy lifting, closing up +7.4%, ably supported by the consumer staples, which ended up 5%, while the retailers were a notable weak link with the consumer discretionary sector ending the week down 3.3%. With BHP surging more than $5, also closing at an all-time high on Friday, the market enjoyed a huge uplift from the “Big Australian” while beats trumped misses, which bodes well through 2026, although there were some standouts in both camps.
ASX experienced a quiet Friday managing to firm into the close ending the week at another all-time high. But again, there was still plenty of volatility on the stock level as we approach the end of reporting season.
The ASX 200 posted another all-time high on Thursday, closing up +0.5% after flirting with the psychological 9200 level in the morning. IT stocks led gains, with the sector surging +5.2% amid a broad-based rally that saw 7 of 11 sectors trade higher. Health care rebounded 1.6% following recent weakness, supported by a strong interim result from Ramsay Health Care. The miners again provided meaningful support, rising 1.0% and pushing to fresh highs as BHP extended its record run, trading above $58 for the first time – even after closing 50c below its intra-day high Australia’s biggest stock added more than 20 points to the index, or more than 40% of the day’s gain.
The ASX pushed to another record close, extending its February rally with a strong bounce back in tech on a positive read through from Nvidia’s result, and the vast majority of companies reporting better than hoped earnings.
We are amending the Active Growth Portfolio
The ASX 200 powered to a fresh all-time high on Wednesday, ending the session with triple-digit gains. In character with recent action on the stock/sector level, gains weren’t as broad-based as we would usually expect for such a barnstorming day, with more than 30% of the main board closing lower, along with the consumer services, defensive utilities and consumer discretionary sectors. It’s starting to sound like a stuck record, but the miners performed the heavy lifting with BHP Group (BHP) contributing ~28% towards the day’s gain – the “Big Australian” is on fire, adding another +3.2%, extending its surge so far in 2026 to +24%, and we’re less than two months in!
The ASX powered to a fresh record high today, brushing off a hotter-than-expected inflation print as investors leaned into a sharp rebound in technology stocks and a blockbuster earnings response from several companies.
We are making several changes to the growth & income portfolios
