Archives: Reports
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.
We are making three changes to the International Equities Portfolio today.
The ASX200 suffered a tough Thursday closing out the day over -0.5% lower with only 30% of the index managing to close in positive territory, only really the Telco stocks managed to rally as a group. Volatility on the stock level remained elevated as reporting season starts to deliver a negative bias after promising so much early on, over the day we only saw 4 stocks rally by 4% while more than 14 companies fall by the same degree. As is usual this time of year the last 5-days has created a…
The ASX snapped a 3 day winning streak today and ended lower, the Telcos & Retailers the only sectors to end higher as 9 stocks in the Top 200 ended down more than 5%.
The ASX 200 finished down -40pts / -0.54% to 7491
NSW announced +1029 new COVID cases, VIC had +80 new cases
The travel stocks rallied today as both Qantas (QAN) +3.5% & Flight Centre (FLT) +4% reported earnings plus talked more favourably around re-opening. QAN laid out plans for re-opening international
The ASX200 enjoyed a solid Wednesday session with the combination of strong earnings and aggressive chasing of some recovery stocks ultimately leading to a +0.4% advance – 12 shares rallied by 5%, and more, while only 4 names fell by the same degree. A couple of standout themes on the stock and sector level caught our attention yesterday with an underlying belief that Australia will be 70-80% vaccinated and trading basically as usual by Christmas shining through:
A strong rally in the IT sector with support from the resources underpinned a solid day of trade for the ASX, Wisetech (WTC) +28% a standout although it was up ~50% at one stage, while money also found it’s way into the ‘re-opening trade’ with travel stocks doing pretty well. Another solid day of reporting, we cover some below while Harry & I talk about Monadelphous (MND), Bravura (BVS), HUB 24 (HUB) and Zip Co (Z1P) in our weekly video…
