Archives: Reports
Last week, the ASX200 climbed +0.5%, notching fresh highs on Thursday and Friday. However, on both occasions, the market surrendered most of the day’s gains by the close. It was a mixed affair on the sector front, with the Industrials +2.9 % and consumer staples +2.4% leading the line while the healthcare -3.8% and energy stocks -1.1% took the open spoon. However, the real action unfolded on the stock level as is typical during reporting season:
The ASX broke through the 8600 mark for the first time and surged in the first hour of trade, hitting a new intra-day all time high of 8615 with concerns over U.S reciprocal tariffs overnight. The market couldn’t hold the high though, dropping 60 points from mid-morning through the afternoon as profit-taking in Commonwealth Bank and a reversal of a strong move in BHP signaled selling and dragged the index back down.
The ASX200 ended a choppy Thursday slightly higher after registering a fresh all-time high around midday before drifting lower through the afternoon. The market is starting to feel a little tired after surging over 25% from its late 2023 low, not just on the index level but also some of its high-valuation top performers are encountering profit-taking, even in most cases after posting solid results, i.e. Pro Medicus (PME), JB Hi-Fi (JBH), IAG Insurance (IAG) and CAR Group (CAR).
The ASX traded to a new all-time high this morning, printing a new milestone @ 8575, before losing steam, closing 35pts below the high. A bumpier ride today on the reporting front with larger moves on the downside, the Insurance stocks under the pump following IAG’s result while the Iron Ore stocks found some form.
The ASX200 felt like a “one trick pony” on Wednesday, following CBA’s strong result, as the index’s largest company led the “Big Four Banks” to an average gain of +1.5% as NAB and WBC joined CBA in making fresh all-time highs, contributing well over half of the day 51-point advance.
The ASX traded lower in the first hour of trade as sellers initially pushed CBA into the red, it was all one-way traffic from 10.30am onwards as both CBA and the market rallied, the former trading to new all-time highs on slightly better than expected results.
The ASX200 surrendered early gains on Tuesday to end the session up just 1 point, with CSL the primary weight on the index and healthcare sector. The biotech’s 5% fall took almost 22 points off the index, offsetting gains elsewhere helped by several positive earnings results across the market.
The best of it seen early this morning with the market up ~30pts before tapering off to finish largely flat on the session, weakness in CSL took ~20pts off the index and was the major drag while the other index heavy weights did okay, with Comm Bank (CBA) down a touch ahead of results tomorrow.
We are making changes to the International Equities Portfolio overnight.
We are making several changes to the Emerging Companies Portfolio today
