Archives: Reports
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…
The ASX200 continued its quiet start to the week finally closing up +0.2% with the action remaining firmly under the hood with 11 stocks rallying by +4%, or more, while 5 names fell by the same degree. High volatility through reporting season is nothing unusual with investors delivering 2 very clear and different messages to corporate Australia:
The market edged higher today it what was the biggest day of reporting thus far, Energy the standout sector following Crude’s rally overnight + a timely note from MM this morning while the Material sector also bounced back from recent weakness. It was rocks & diamonds today for MM is terms of results, the diamond in the Flagship Growth Portfolio being HUB 24 (HUB) up ~8% while Monadelphous (MND) was anything but, down ~14%.
The ASX200 fought hard to bounce yesterday finally closing up +0.4% with over 60% of stocks closing in positive territory. The interest rate sensitive sectors largely outperformed with IT and Real Estate catching my eye but the more interesting action was on the stock level with 13 stocks rallying by over 4% while 10 names fell by the same degree. Overall this volatility on the company level appears reflective of both reporting season and the “twitchy” nature with which investors are reacting to corporate news as the market remains close to its all-time high.
A positive start to the trading week with IT, Real-Estate & Materials sectors offering most support to the broader market. Reporting was again dominate with one trend becoming more obvious the more companies report, that being very cautious / non-committal guidance. While it seems most have started off FY22 with good momentum, COVID resurgence globally plus of course lockdowns locally are having a big impact on company’s ability/desire to forecast.
We are making 3 changes to the Flagship Growth Portfolio Today
