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Afternoon report

The Match Out: ASX drops like a rock to finish the week, fresh COVID fears spark sell-off, Appen (APX) smashed on downgrade

After weeks of being more or less pinned to 7400, the index finally cracked today. Initially it looked to be a pretty subdued end to the week for the ASX given Futures were little changed and the US market closed overnight for the Thanksgiving Holiday, however traders got the jitters and the index was smacked to a new 5 week low. Fears around a new COVID strain appears to be the main thing concerning investors with travel stocks firmly in the firing line.
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Afternoon report

The Match Out: ASX pinned to 7400, Tech catches a bid, EML Payments (EML) rockets on CBI news

Another quiet day on the index level, any strength was sold, weakness bought and overall the market finished flat, however there was a lot more happening under the hood. At a sector level, IT stocks bounced back strongly from recent weakness, materials also rallied and that supported MM’s current positioning, while the Financials & Staples sectors were both weak.  
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Afternoon report

The Match Out: A lacklustre day, ASX down a touch, Energy bounces, IT continues its slide

It was one of those days today where the market had little direction – chopped around par with further weakness in technology stocks offset by buying in the Energy sector, hard to get excited one way or another and best we let the market determine where it tracks from here. As we suggested this AM,  MM is technically bullish on a close above 7480 and bearish below 7300, ultimately the market will tell us where it wants to head next, however bullish the seasonal factors may be.
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Afternoon report

The Match Out: ASX rallies, Iron Ore surges ~10%, Resource stocks offset weakness in IT

A strong bounce back from early morning weakness today as the late sell-off in Tech shares overnight cast a shadow over the market early, however with commodities strong and strength during the Asian time zone today, the local material sector provided a strong backbone for the ASX to overcome technology weakness and finish nearly 0.8% higher – back up through 7400 in the process.
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Afternoon report

The Match Out: ASX up a touch today, down ~1% for the week, Crown (CWN) gets bid (again)

The market finished marginally higher today although was down ~1% on the week thanks to weakness amongst the financials courtesy of CBA’s disappointing update. Over the course of the week, the Financial sector was off -3.6% while the materials fell by -1.62% making it a tough ask for the broader market, IT +2% & Healthcare +1.71% did an admirable job.
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Afternoon report

The Match Out: ASX edges higher in a choppy session, defensives lead, Altium (ALU) hosts upbeat AGM

A choppy session for the ASX with the market trading in a reasonable ~60pt trading range, the worst of it was seen just after open with the mkt down ~30pts before a morning rally saw the market hit an 11.30am high up ~30pts before a choppy / weak afternoon played out. AGM season remains front and centre, today there was some hits and some misses while from a sector perspective, strength was seen primarily amongst the...
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Afternoon report

The Match Out: ASX ticks higher, growth sectors outperform, Incitec Pivot (IPL) rallies with FY21 result

A reasonably muted start to the week for equities which tracked higher through the morning before giving around a quarter of the gains throughout the afternoon. Buyers tried to see the index close through the key 7480 level we discussed in the morning report with buying on the close getting to within touching distance, just 10pts away. Still, a better than expected start to the week with futures initial pointing to a flat session.
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Latest Reports

Afternoon report

The Match Out: ASX pinned to 7400, Tech catches a bid, EML Payments (EML) rockets on CBI news

Another quiet day on the index level, any strength was sold, weakness bought and overall the market finished flat, however there was a lot more happening under the hood. At a sector level, IT stocks bounced back strongly from recent weakness, materials also rallied and that supported MM’s current positioning, while the Financials & Staples sectors were both weak.  

Afternoon report

The Match Out: A lacklustre day, ASX down a touch, Energy bounces, IT continues its slide

It was one of those days today where the market had little direction – chopped around par with further weakness in technology stocks offset by buying in the Energy sector, hard to get excited one way or another and best we let the market determine where it tracks from here. As we suggested this AM,  MM is technically bullish on a close above 7480 and bearish below 7300, ultimately the market will tell us where it wants to head next, however bullish the seasonal factors may be.

Afternoon report

The Match Out: ASX rallies, Iron Ore surges ~10%, Resource stocks offset weakness in IT

A strong bounce back from early morning weakness today as the late sell-off in Tech shares overnight cast a shadow over the market early, however with commodities strong and strength during the Asian time zone today, the local material sector provided a strong backbone for the ASX to overcome technology weakness and finish nearly 0.8% higher – back up through 7400 in the process.

Afternoon report

The Match Out: ASX up a touch today, down ~1% for the week, Crown (CWN) gets bid (again)

The market finished marginally higher today although was down ~1% on the week thanks to weakness amongst the financials courtesy of CBA’s disappointing update. Over the course of the week, the Financial sector was off -3.6% while the materials fell by -1.62% making it a tough ask for the broader market, IT +2% & Healthcare +1.71% did an admirable job.

Afternoon report

The Match Out: ASX edges higher in a choppy session, defensives lead, Altium (ALU) hosts upbeat AGM

A choppy session for the ASX with the market trading in a reasonable ~60pt trading range, the worst of it was seen just after open with the mkt down ~30pts before a morning rally saw the market hit an 11.30am high up ~30pts before a choppy / weak afternoon played out. AGM season remains front and centre, today there was some hits and some misses while from a sector perspective, strength was seen primarily amongst the...

Afternoon report

The Match Out: ASX ticks higher, growth sectors outperform, Incitec Pivot (IPL) rallies with FY21 result

A reasonably muted start to the week for equities which tracked higher through the morning before giving around a quarter of the gains throughout the afternoon. Buyers tried to see the index close through the key 7480 level we discussed in the morning report with buying on the close getting to within touching distance, just 10pts away. Still, a better than expected start to the week with futures initial pointing to a flat session.

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