The market pushed up and closed above the 7500 handle today making a new all-time closing high in the process and is now up ~70% from the panic low (4402) on the 23rd March 2020. While it’s easy to conclude that the market has run too hot, earnings have been the driver of the move rather than just an expansion of multiples, or in other words, the rise is justified. Index earnings per share (EPS) peaked pre-COVID at 345, dropped to 250 and is now sitting at 375...
The ASX 200 slipped 0.2% from yesterday’s all-time high today although the technology sector was strong thanks to more buying amongst the BNPL stocks offset by weakness in the Energy & Materials sectors. Central bank chief Philip Lowe surprised the market this afternoon by pushing on with a reduction in their weekly bond buying program (i.e. easing back support) despite the economic impact of lockdowns. The market thought this...
A very bullish session for the market breaking out through all-time highs and closing just below the 7500 handle for the ASX 200. The range bound market we’ve experienced since early June has been broken, the catalyst being more M & A, this time in the technology space as large US tech / payments company Square makes a play for Afterpay (APT) - more on that below. That move propelled the IT sector 6% higher on the session however the buying was broad based with all sectors enjoying a positive day.
A softer session to end the week and month for Australian stocks with the IT sector back in the cross hairs of the selling, particularly the BNPL names with Afterpay (APT) & Zip Co (Z1P) down ~5% a piece. For the month, the ASX has added 1.09% led by the Material sector which rallied 7.13% versus the IT sector which was down 6.88%. For the week, the market was little changed however it is finding some clear resistance...
The market bounced back today after the short lived sell-off yesterday led stoically by the IT sector which rallied by ~2.5%. The concern around Chinese regulation took a back seat in Asia with Hong Kong stocks rallying ~3% and the likes of Tencent (700 HK) up by over 10%, clearly not an area for the faint hearted! Locally, production numbers from the miners continued to dominate the docket however we also had a couple of equity raises in stocks that interest us, more on these below.
The defensive Real-Estate stocks were the only sector to trade higher today in what was a broad based day of selling led by IT. The market opened lower however when NSW extended the lockdown plus inflation data was a touch higher than expected, sellers got the upper hand and the market dropped back below 7400.
Another decent session for the ASX today with the market printing a new all-time closing high thanks to a strong run in the materials sector led by Oz Minerals (OZL) & Bluescope (BSL) which both rallied more than 6% while heavy weight BHP closed above $53 for the first time ever. The market did close off the session highs however it’s hard to argue with the trajectory of this market.
The market opened higher this morning and quickly ticked off a new milestone with the ASX 200 hitting a new all-time high of 7417 only to reverse and close back within the trading range. Chinese equities were sharply lower today thanks to another round of regulation from Beijing and that saw both Hong Kong & mainland Chinese stocks off more than 3% while US futures also gave up early gains.
A quieter way to end a busy week, lockdowns, some market volatility bubbling away and a few swings and round abouts across some of MM’s holdings. Overall, a reasonable week for both the market and portfolio’s generally as the ASX again knocks on the door of all-time highs. Today it was the Healthcare sector that took the performance batten while the Energy stocks pulled back after a solid day yesterday.
A strong session in Oz today despite NSW Covid case numbers hitting a new peak. Energy stocks were top of the pops followed by Materials, both up more than 2% while Healthcare was the only sector to finish down. Lots happening in the mining space (quarterlies) plus a few swings and roundabouts across the Market Matters Portfolios today.
The ASX 200 slipped 0.2% from yesterday’s all-time high today although the technology sector was strong thanks to more buying amongst the BNPL stocks offset by weakness in the Energy & Materials sectors. Central bank chief Philip Lowe surprised the market this afternoon by pushing on with a reduction in their weekly bond buying program (i.e. easing back support) despite the economic impact of lockdowns. The market thought this...
A very bullish session for the market breaking out through all-time highs and closing just below the 7500 handle for the ASX 200. The range bound market we’ve experienced since early June has been broken, the catalyst being more M & A, this time in the technology space as large US tech / payments company Square makes a play for Afterpay (APT) - more on that below. That move propelled the IT sector 6% higher on the session however the buying was broad based with all sectors enjoying a positive day.
A softer session to end the week and month for Australian stocks with the IT sector back in the cross hairs of the selling, particularly the BNPL names with Afterpay (APT) & Zip Co (Z1P) down ~5% a piece. For the month, the ASX has added 1.09% led by the Material sector which rallied 7.13% versus the IT sector which was down 6.88%. For the week, the market was little changed however it is finding some clear resistance...
The market bounced back today after the short lived sell-off yesterday led stoically by the IT sector which rallied by ~2.5%. The concern around Chinese regulation took a back seat in Asia with Hong Kong stocks rallying ~3% and the likes of Tencent (700 HK) up by over 10%, clearly not an area for the faint hearted! Locally, production numbers from the miners continued to dominate the docket however we also had a couple of equity raises in stocks that interest us, more on these below.
The defensive Real-Estate stocks were the only sector to trade higher today in what was a broad based day of selling led by IT. The market opened lower however when NSW extended the lockdown plus inflation data was a touch higher than expected, sellers got the upper hand and the market dropped back below 7400.
Another decent session for the ASX today with the market printing a new all-time closing high thanks to a strong run in the materials sector led by Oz Minerals (OZL) & Bluescope (BSL) which both rallied more than 6% while heavy weight BHP closed above $53 for the first time ever. The market did close off the session highs however it’s hard to argue with the trajectory of this market.
The market opened higher this morning and quickly ticked off a new milestone with the ASX 200 hitting a new all-time high of 7417 only to reverse and close back within the trading range. Chinese equities were sharply lower today thanks to another round of regulation from Beijing and that saw both Hong Kong & mainland Chinese stocks off more than 3% while US futures also gave up early gains.
A quieter way to end a busy week, lockdowns, some market volatility bubbling away and a few swings and round abouts across some of MM’s holdings. Overall, a reasonable week for both the market and portfolio’s generally as the ASX again knocks on the door of all-time highs. Today it was the Healthcare sector that took the performance batten while the Energy stocks pulled back after a solid day yesterday.
A strong session in Oz today despite NSW Covid case numbers hitting a new peak. Energy stocks were top of the pops followed by Materials, both up more than 2% while Healthcare was the only sector to finish down. Lots happening in the mining space (quarterlies) plus a few swings and roundabouts across the Market Matters Portfolios today.
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