Archives: Reports
The ASX200 slipped -0.55% yesterday but once we take out the huge dividends delivered to happy investors the market actually hardly moved e.g. BHP Group (BHP) $2.74, CSL Ltd (CSL) $1.64, Woolworths (WOW) 55c and Perpetual (PPT) 96c. Importantly these funds will drop into shareholders bank accounts around the end of September / start of October providing yet another tailwind for this already resilient market i.e. a significant portion of investors simply reinvest their dividends back into the market…
A similar session to yesterday with the market opening sharply lower before fighting back throughout the day – the buy the dip mentality still very much alive and well. Two index heavyweights traded ex-dividend today, namely BHP & CSL and while the ASX 200 closed down 41points, ~30points of that move was dividend related.
The ASX200 continued to follow the 2021 playbook yesterday by falling fairly hard into a 10.30 am low prior to grinding higher throughout the day, it finally closed 0.9% above the intra-day low, down just -0.1% i.e. “buy the dip” still reins supreme. Winners actually marginally trumped the losers with the banks in particular catching my eye on the upside with National Bank (NAB) popping +2.2% to make fresh post COVID highs. Septembers off and running and if the ASX200 dances to the same rhythm as it has since May we should be testing ~7700 in the coming weeks.
The ASX200 closed out August in a very similar fashion to much of the previous 6-months i.e. dipping into a mid-morning low before rallying steadily throughout the day. The steady buying was broad-based with almost 70% of stocks advancing although it again felt more like a lack of selling as opposed to an ongoing scramble for risk assets – it’s no great surprise the buying feels more restrained when we consider the ASX200 has already surged 1115-points / 17% from the first week of May. No change…
A lack of sellers it seemed into month end saw the ASX finish higher again today clocking up an 11th straight month of gains, its longest streak on record. Tech stocks followed a strong performance from the NASDAQ overnight to add nearly ¬2% on the day while the Energy sector fell despite Oil rallying overnight. For the month of August there was some sharp divergence between sector returns, IT storming 16.8% higher thanks…
The ASX200 struggled higher on Monday following an early morning sell-off to finally close up +0.2% courtesy of a stellar performance by the Resources Sector e.g. South32 (S32) +6.2%, Fortescue Metals (FMG) +6.6% and OZ Minerals (OZL) +3.7%. The end of reporting season continued to deliver extreme moves on the stock level with Altium (ALU) missing on margins while Twiggy Forrest’s Fortescue Metals (FMG) delivered a stellar report card leading to a ~20% differential in performance between the 2 stocks in just one day = volatility!
A positive session by the end for the penultimate day of local reporting season, the Material stocks roaring back to life on stronger commodity prices, a weaker $US and a huge profit result from Fortescue Metals (FMG) which showed just how much money can be made when commodity companies get a commodity price tailwind particularly when it comes on the back of periods where efficiency & operational discipline have been important. The Material…
The ASX200 had a choppy but overall uneventful week on the index level but under the hood reporting season continued to deliver some fascinating volatility. History tells us that companies which rally strongly on good results generally outperform the index for months to come, a couple of lines from Jim Cramer’s Mad Money on CNBC over the weekend caught my eye, especially considering the position of our market as we exit this eventful period which directors generally love, or hate, depending on their year:
The ASX200 delivered a fascinating week under-the-hood even while the index hardly moved, on the sector level it was also fairly quiet as we all focused on the big hits and misses as corporate Australia faced the music – 8 stocks finished the week down 10%, or more, while an impressive 12 companies ended the week higher by the same degree, in other words 1 out 10 ASX200 stocks moved by more than 10% over the 5-days.
A quieter session to end a busy week of reporting with the market finishing little changed, a weak open before a more solid finish with the broader sectors of industrials & utilities doing most of the heavy lifting. Results from the bigger end of town today were generally solid however the volume of results is now declining into next week. Overall, reporting remained mixed although specific guidance has (probably rightly so) been scarce.
