Archives: Reports
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 $12.66, a phenomenal run and the momentum clearly remains strong, while Bendigo Bank (BEN) is also worth a mention adding 11% on a good set of results, or at least, a lot better than downbeat expectations.
The ASX200 had a quiet 2ndweek of February finally closing marginally lower as the local reporting season took its toll on a couple of names plus a strong Australian Dollar ($A) continued to pressure companies with significant overseas earnings.
A weak session today with stocks lower for a third session in the past four, travel-related shares were hit by a decision to lock down Melbourne (Harry had to get a quick flight home this afternoon) as the outbreak of the U.K. strain of the coronavirus increases – Qantas (QAN) fell -4.81%.
The ASX200 experienced a lacklustre Thursday in what’s been a very quiet week on the index level – with today’s trading still to go we’ve only seen a meagre 80-point range over the last 4-days.
