Archives: Reports
No major market news over the weekend as the COVID vaccine is rolled out from today in Australia, hopefully meaning no more state lockdowns, tennis remained the main topic of conversation both in the press and in our household and it was a bit of an anticlimax I’ve got to say! The ASX200 feels like its “wobbling” around the 6800 area but as we discussed in the Weekend Report all the actions unfolding beneath the hood. So far in 2021 the sectors catching my eye in 2021 are:
I often quote that “what defines us is how we deal with adversity” and the market certainly gave us a big right cross to recover from yesterday, mining and construction business NRW Holdings (NWH) tumbled -17% after delivering a disappointing half-year profit although we felt the market was too harsh on the stock – I felt like it was Friday when the bell rang yesterday, not Thursday.
Just as the subject line suggests today, not a lot happening at the top line but a hell of a lot going on underneath the hood. We had landmine today in NRW Holdings (NWH) which fell 17%, I cover that below plus a bunch of other names that reported earnings.
The ASX200 gave back some recent hard fought gains yesterday under the weight of broad based selling with over 65% of the index finally closing down on the day.
We are tweaking the growth portfolio although remaining within the same ‘food’ sector
Weakness across some of the more defensive areas of the market today as bond yields continue to tick higher, while the reflationary trade (materials, energy, financials) remained firm.
The ASX200 posted its highest close in almost 12-months yesterday with the Resources Sector surging higher e.g. BHP Group (BHP) +2.7%, RIO Tinto (RIO) +3% and OZ Minerals (OZL) +4.4%
Another strong session today with the market closing on a new post COVID-19 high at 6917, only a good session away from the 7000 handles.
The ASX200 enjoyed a great start to the week eventually closing almost 1% higher, stocks opened strongly after global markets posted fresh all-time highs on Friday with the gains then compounded by some excellent advances on the stock level as company reports added to the markets positive tone e.g. Nearmap (NEA) +19% and Bendigo Bank (BEN) +11.3%. On the sector level the “risk on” theme remained very dominant with the Resources & IT Sectors strong while the defensive Utilities / Real Estate Sectors again slipped.
The ASX kicked the week off with a bang as 137 stocks from the 200 advanced, some in spectacular fashion with NearMap (NEA) +19% tearing the face off J Capital who put out a short report last week while Zip Co (Z1P) held in the MM Growth Portfolio and the soon to be released Emerging Companies Portfolio added another 17% to close at $12.66, a phenomenal run and the momentum clearly remains strong, while Bendigo Bank (BEN) is also worth a mention adding 11% on a good set of results, or at least, a lot better than downbeat expectations.
