Looking for something? Use this search to find it.

OPINION
ACTION

Search results: Reports

Afternoon report 27/05/2024 16:39

The Match Out: A positive start to the week, Lendlease (LLC) bounces on improved strategy

Shares mirrored Friday night’s move in the US, starting the week on the front foot, turning around the bulk of the weakness seen on the local market last week. The rally was fairly broad-based with 75% of the index closing higher and Energy the only detractor from a sector point of view. There was little else to watch today given both US and UK markets are closed tonight.

Afternoon report 24/05/2024 16:21

The Match Out: Stocks drop with all sectors lower

A soft session for the ASX to round off a volatile week for equities, a mixture of macro uncertainty around interest rates and a pullback in commodity prices, coupled with a bunch of results/trading updates that were a mixed bag at best.

Afternoon report 23/05/2024 16:42

The Match Out: ASX lower, Xero (XRO) rallies the most in a year

A big pullback in commodities overnight cast a shadow over the ASX early – the market off ~84pts at its low, however, some aggressive buying of the dip more than cut that loss in half, the index only mildly lower by the close.

Afternoon report 22/05/2024 16:47

The Match Out: ASX bails out of a crack at new highs, Webjet impresses

It was a flat session for the ASX today, although a lot was happening under the hood with a bunch of trading updates causing some big moves on both sides of the ledger. Early strength was sold into as equities shied away from a crack at all-time highs today.

Afternoon report 21/05/2024 16:43

The Match Out: ASX drifts lower, Hardies (JHX) tanks

A lacklustre session at the index level today, although a few bits of corporate news created some interest, mostly on the downside with slightly softer guidance a common trait.

Afternoon report 20/05/2024 16:49

The Match Out: Commodities underpin market gains

Another strong session for the ASX underpinned by good buying amongst the Energy, Materials & IT sectors that all rallied more than 1%. China has pulled more stimulus levers over the last few days, and although they are targeted, as was previously flagged by Beijing, it does feel like Xi Jinping has drawn a line in the sand. That, coupled with the prospect of lower interest rates/bond yields, equities are running, and for now, we’ll enjoy the upside.

Afternoon report 17/05/2024 16:37

The Match Out: ASX pulls back from highs, still has a strong week

The ASX pulled back from recent highs today on some profit-taking after a solid week. Better news on the inflation and interest rate front propelled equities to all-time highs in the US & UK, and a whisker below all-time highs locally, as the narrative around a soft landing, or no landing at all, continues to gain traction. Interest rate sensitive sectors have had a great week, and fading the moves that played out in April has certainly been the trade to back, while it looks like BHO may walk away from a deal to buy Anglo at this point, underpinning a relief rally in our biggest local index weight. All in all, investors made money this week, we’ll take it, and as always, concentrate on what could come next! Manly vs Broncos tonight – Go the Mighty Sea Eagles!

Afternoon report 16/05/2024 16:28

The Match Out: Stocks surge as inflation & employment cool

A very bullish session for the ASX today, pushing the market to within 10 points of its all-time high. A more benign inflation read in the US overnight, with CPI printing lower month-on-month had the bulls up and about early, before softer employment data locally saw interest rate traders ramp up their bets for an RBA rate cut this side of Christmas – all in all, a great day for risk assets.

Afternoon report 15/05/2024 16:42

The Match Out: Post-Budget strength but apprehension ahead of US CPI

The ASX was on the front foot early today before paring gains as the session wore on in the post-budget trade. UBS thinks the budget is ultimately good for stocks given its pro-growth even though that could mean interest rates remain higher for longer. The ASX200 finished up 26pts, though this was ~30pts from the intraday high, still only 2% from the all-time high.

Afternoon report 14/05/2024 16:50

The Match Out: ASX drifts lower ahead of the Federal Budget

The ASX drifted back today ahead of the Federal Budget due for release tonight, some headlines already coming through suggesting a ~$9b surplus will be announced alongside some support for critical minerals including nickel and copper. We suspect some of the weakness today was a risk-off move ahead of US inflation data on Wednesday though stocks in Asia were fairly quiet while US Futures were unchanged during our time zone.