The Match Out: Property stocks underpin positive Monday

A solid session to kick off the shortened trading week ahead of the Easter long weekend, with Property & Energy stocks underpinning the strength throughout the day, with the ASX 200 closing back above 7800, once again, knocking on the door of new highs. It’s hard to argue with the prevailing strength, and while some are now highlighting overvaluation at the index level, we don’t think that’s the right call given the soft landing that’s playing out from an economic perspective. With the ASX 200 on 16.8x Est earnings that are growing ~5%, it’s certainly not cheap but equally, it’s not overly stretched when we consider that analysts have underappreciated the recovery in earnings that is underway, both here and in the US.

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Weekend report 15/06/2025 08:27

Weekend Q&A: Israel-Iran conflict awakens the Bear

Even after slipping 0.2% on Friday, following Israel's attack on Iran, the ASX200 managed to finish last week up +0.1%, posting its 5th consecutive weekly gain - overall impressive considering the unfolding conflict. Israel’s airstrikes on Iran added a fresh wave of uncertainty among investors, following closely on the heels of Trump's promise that he intends to impose unilateral tariffs on dozens of US trading partners in the coming weeks. A weekend is a long-time when conflict breaks out, but whatever unfolds in the Middle East over the coming days/weeks, it’s likely to test the mettle of the current bull market and potentially provide an opportunity to buy weakness for the 2H of 2025:

Afternoon report 13/06/2025 17:22

The Match Out: Middle East conflict sparks risk-off selling as Energy & Gold stocks jump higher

The local market was lined up for a positive and potentially quiet session with a lack of earnings or corporate news on the docket and positive sentiment from U.S markets overnight with ASX futures pointing up +46pts at 8am - it was anything but, as news broke shortly after the market opened that airstrikes were carried out by Israel on Iranian nuclear missile sites.

Morning report 13/06/2025 10:06

What Matters Today: Around the World with 7 ETFs’

The ASX 200 surrendered early gains as “Trump tariff talk” weighed on the already “stretched” market. Ever since he's heard the “TACO” phrase, the president has been talking a lot tougher. Only time will tell if the acronym is true or not, i.e. “Trump Always Chickens Out”.

Afternoon report 12/06/2025 17:09

The Match Out: ASX fails to launch, awaits U.S-China trade deal confirmation

Despite a U.S-China trade deal now all but done, global markets overnight and the local index today are apprehensive to move higher - the ASX tried its best to break out but ran out of steam without the specifics of the deal and both sides yet to officially sign off.

Morning report 12/06/2025 16:31

What Matters Today: Can the Supermarkets emulate the Big Four Banks?

Wednesday saw the ASX 200 post a fresh all-time high at 8639 before reversing most of the early morning gains to close back below the psychological 8600 barrier.

Afternoon report 11/06/2025 17:36

The Match Out: ASX all-time highs short-lived as investors sell the fact on trade talk resolution

Today marked another intra-day record for the ASX 200, though this time it couldn’t hold with the market closing -47pts off the morning high. It had a feeling of buy the rumour sell the fact as Chinese and U.S trade officials walked away from two days of negotiations having agreed on a preliminary plan to ease trade tensions, emphasising resolving issues around rare earths minerals and magnets shipping, with the U.S expecting to lift export restrictions in a ‘balanced way’.

Morning report 12/06/2025 17:33

Portfolio Positioning: The unloved Bull Market confounds the numerous bears

The ASX200 posted a record close on Tuesday as broad-based buying took the index up 0.8%, with the heavyweight financials leading the market higher; the “Big Four” gained an average of 1.2%. The market adopted a clear “risk on” theme as it approached all-time highs, while abandoning some of the year's best-performing defensives, as underweight fund managers appeared increasingly exposed to the rising market.

Afternoon report 10/06/2025 17:49

The Match Out: Positive trade talks drive ASX to new all-time high close

The ASX 200 surged to a record high, driven by strong gains in energy and banking stocks amid optimism from ongoing US-China trade talks.

Morning report 12/06/2025 17:33

Macro Monday: Don’t fight the tape while the Goldilocks scenario is in play

Last week saw the US S&P 500 push to within 2.5% of its all-time high, enjoying the biggest jump since late May on Friday after a stronger-than-expected jobs report eased fears about a slowdown in the economy.

Weekend report 07/06/2025 09:41

Weekend Q&A: Enjoy the long weekend and bull market!

Even after slipping 0.3% on Friday, the ASX200 advanced 1.0% for the week, closing just 100 points/1.2% below February's all-time high. Overall, it was a relatively quiet week as traders eyed the long weekend as an excuse to pull up stumps early, compounded by the uncertainty of Friday night's May Payrolls numbers (jobs data) - in hindsight, there was nothing to worry about there! Although it felt quiet, it was the market's largest one-week gain since mid-May, with the ASX200 now advancing for four consecutive weeks and set to start the fifth positively. As we approach the EOFY, it's hard to imagine following all of the Trump concerns that the ASX200 is up +9.6% for the FY, yet another example of how equities deliver over time: