The ASX managed to start the week in the black despite a shaky start today thanks to ~1% gains in both financials and materials. Bond yields were climbing throughout our session however it didn’t have an impact on the broader market with value stocks holding up well. There was plenty of corporate news coming through with a number of takeover offers in play.
It’s been a very good second half of the week for the ASX as some positive company announcements drove 8 stocks in the ASX 200 up more than 10% on the week, fortunately for MM we hold 4 of them across portfolios and that’s led to a good pocket of outperformance. Today saw a carbon copy of yesterday in terms of both the IT & Materials sectors underpinning the rally while Utilities were the only area to finish the day lower.
A positive session for the ASX today underpinned by strong gains in the IT and Material sectors – higher commodity prices and lower bond yields a catalyst however we also saw stock specific updates that were generally very positive. Overall, a solid session, particularly for how Market Matters portfolios are positioned.
Another session that closed in the red for the ASX, it’s 3rd straight but again it was more about the influence of the sectors that fell. Given financials & materials which account for ~40% of the market ended down, it was actually positive to see the market off only 8 points implying that a greater volume of stocks finished the session in the green. As we’ve been writing in recent notes, the market is taking a plethora of bad news largely in its stride & a market that holds up in the face of negative news flow generally has underlying strength.
A lackluster session for the ASX today, initially up but that didn’t last long although the sell-off was hardly aggressive. Healthcare bounced and so too did the supermarkets highlighting the risk off sort of session.
A softer start to the week although the market did fight back well from early morning lows to close down only ~20pts. US Futures were sold off around our open today and that dragged the ASX down ~70pts, however 11am saw the worst of it and we grinded +50pts higher for the remainder of the day. Energy the main winner again however Iron Ore was up ~5% in Asia and that supported the material sector.
A positive way to end the week for Aussie shares, supported by the US agreeing to extend the debt ceiling + China coming back online after a week long holiday and equities actually moving higher despite the barrage of negative rhetoric that’s been dribbling out of the Middle Kingdom of late. The Shanghai market up ~1% while Iron Ore rallied ~5% and other commodities did well, the bulk miners in Australia enjoying the change of trend.
A fairly lacklustre morning gave way to a bullish afternoon for stocks with the IT sector surging back into vogue at the expense of Energy, the first day of red in many thanks a ~2% pullback in Crude Oil overnight. Overall, good session for Aussie stocks.
The ASX was looking promising this morning with futures implying a start to trade up +40 points however that quickly evaporated as the more influential sectors of financials & resources came under pressure which accounts for ~40% of the ASX 200. The move from our counterparts over the ditch to raise interest rates and imply more was to come prompted selling around midday while the move to increase serviceability buffers...
The ASX opened better than the overnight market was implying this morning before a sell-off in US Futures saw the index drop around ~60pts between 11am – midday before an RBA inspired recovery played out into the afternoon – a choppy session! Higher interest rates globally has been putting downward pressure on Tech stocks and that was the obvious theme again in Australia today – IT down ~3% versus Energy which was up another ~2.4%.
It’s been a very good second half of the week for the ASX as some positive company announcements drove 8 stocks in the ASX 200 up more than 10% on the week, fortunately for MM we hold 4 of them across portfolios and that’s led to a good pocket of outperformance. Today saw a carbon copy of yesterday in terms of both the IT & Materials sectors underpinning the rally while Utilities were the only area to finish the day lower.
A positive session for the ASX today underpinned by strong gains in the IT and Material sectors – higher commodity prices and lower bond yields a catalyst however we also saw stock specific updates that were generally very positive. Overall, a solid session, particularly for how Market Matters portfolios are positioned.
Another session that closed in the red for the ASX, it’s 3rd straight but again it was more about the influence of the sectors that fell. Given financials & materials which account for ~40% of the market ended down, it was actually positive to see the market off only 8 points implying that a greater volume of stocks finished the session in the green. As we’ve been writing in recent notes, the market is taking a plethora of bad news largely in its stride & a market that holds up in the face of negative news flow generally has underlying strength.
A lackluster session for the ASX today, initially up but that didn’t last long although the sell-off was hardly aggressive. Healthcare bounced and so too did the supermarkets highlighting the risk off sort of session.
A softer start to the week although the market did fight back well from early morning lows to close down only ~20pts. US Futures were sold off around our open today and that dragged the ASX down ~70pts, however 11am saw the worst of it and we grinded +50pts higher for the remainder of the day. Energy the main winner again however Iron Ore was up ~5% in Asia and that supported the material sector.
A positive way to end the week for Aussie shares, supported by the US agreeing to extend the debt ceiling + China coming back online after a week long holiday and equities actually moving higher despite the barrage of negative rhetoric that’s been dribbling out of the Middle Kingdom of late. The Shanghai market up ~1% while Iron Ore rallied ~5% and other commodities did well, the bulk miners in Australia enjoying the change of trend.
A fairly lacklustre morning gave way to a bullish afternoon for stocks with the IT sector surging back into vogue at the expense of Energy, the first day of red in many thanks a ~2% pullback in Crude Oil overnight. Overall, good session for Aussie stocks.
The ASX was looking promising this morning with futures implying a start to trade up +40 points however that quickly evaporated as the more influential sectors of financials & resources came under pressure which accounts for ~40% of the ASX 200. The move from our counterparts over the ditch to raise interest rates and imply more was to come prompted selling around midday while the move to increase serviceability buffers...
The ASX opened better than the overnight market was implying this morning before a sell-off in US Futures saw the index drop around ~60pts between 11am – midday before an RBA inspired recovery played out into the afternoon – a choppy session! Higher interest rates globally has been putting downward pressure on Tech stocks and that was the obvious theme again in Australia today – IT down ~3% versus Energy which was up another ~2.4%.
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