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Afternoon report

The Match Out: China jitters and US Retail sales sink ASX to 4-week low

Weakness across international equity markets bled into the ASX today with shares trading to a 4-week low. The US market struggled following better-than-expected retail sales prints leading to upwards pressure on rates. This compounded concerns around China’s property market and economic growth outlook which has weighed on equity markets across the region in recent weeks, yesterday’s rate cut from the PBOC only providing short-term relief. Reporting season is now well and truly in full swing while CBA went ex-div today adding to the red on the index.
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The Match Out Market Matters
Afternoon report

The Match Out: ASX up, so far so good, the vibe from reporting is actually okay!

The vibe so far in reporting is a net positive one with more beats than misses, and more companies rallying post results despite some festering concern around what’s to come in FY24. That’s not to say everything is positive, but by-in-large, we’re doing okay and this was supportive of the ASX today which snapped a 2-day losing streak. Weaker data out of China continues to put pressure on the PBOC to stimulate, and while it remains largely elusive, the local resource stocks seemed to find some support from intra-day lows on optimism around such a move.  
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The Match Out Market Matters
Afternoon report

The Match Out: Stocks slide despite solid earnings, China again the culprit

The ASX was hit today, weighed by growing concerns around the Chinese property sector as another large developer teeters on default - while earnings continue to dominate news flow locally. As of Friday, around 20% of the market’s total capitalisation had reported results, so far, so good with earnings beats outnumbering earnings misses by a solid ratio of 3:1, although we have seen adjustments lower for FY24 on softer outlooks.
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The Match Out Market Matters
Afternoon report

The Match Out: ASX higher on mixed day of earnings

A solid day for the ASX as reporting threw up some more interesting candidates from a broad cross-section of industries, some hits, misses and a few in between, while we saw some action amongst the energy stocks with Crude breaking higher and Coal prices finding some support.
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The Match Out Market Matters
Afternoon report

The Match Out: Shares move higher following record CBA result

Shares started slowly today but found their mojo into the afternoon, finishing near highs on the back of strength in the banks. There was little change ahead of inflation data coming out of China mid-morning, but when that passed without concern, the focus returned to CBA’s record result.
Read more
The Match Out Market Matters
Afternoon report

The Match Out: Early optimism fades, ASX flat as Hardies beat

The day started well with some reasonable buying across most major sectors however by midday, things had taken a turn and optimism was thin on the ground. A mixed bag from companies that reported results ahead of Commonwealth Bank (CBA) out with numbers tomorrow morning – we’ll cover them as they land.
Read more
The Match Out Market Matters
Afternoon report

The Match Out: Subdued session as the Bankers enjoy a long weekend!

A subdued start to the week with the ASX edging lower, void of any real impetus in either direction. A bank holiday, no influential companies reporting and a softer night on Friday in the States saw local investors sit largely idle, with winners and losers split evenly across the main board.
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The Match Out Market Matters
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TLS
MM remains a holder of TLS in the Income Portfolio
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SUL
MM has now turned neutral towards SUL ~$14
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GMG
MM is bullish on GMG, regrettably, we recently sold it
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ANZ
MM is long & bullish ANZ
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EVN
MM is long and bullish EVN
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ING
MM is neutral ING
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Latest Reports

Afternoon report

The Match Out: China jitters and US Retail sales sink ASX to 4-week low

Weakness across international equity markets bled into the ASX today with shares trading to a 4-week low. The US market struggled following better-than-expected retail sales prints leading to upwards pressure on rates. This compounded concerns around China’s property market and economic growth outlook which has weighed on equity markets across the region in recent weeks, yesterday’s rate cut from the PBOC only providing short-term relief. Reporting season is now well and truly in full swing while CBA went ex-div today adding to the red on the index.

The Match Out Market Matters
Afternoon report

The Match Out: ASX up, so far so good, the vibe from reporting is actually okay!

The vibe so far in reporting is a net positive one with more beats than misses, and more companies rallying post results despite some festering concern around what’s to come in FY24. That’s not to say everything is positive, but by-in-large, we’re doing okay and this was supportive of the ASX today which snapped a 2-day losing streak. Weaker data out of China continues to put pressure on the PBOC to stimulate, and while it remains largely elusive, the local resource stocks seemed to find some support from intra-day lows on optimism around such a move.  

The Match Out Market Matters
Afternoon report

The Match Out: Stocks slide despite solid earnings, China again the culprit

The ASX was hit today, weighed by growing concerns around the Chinese property sector as another large developer teeters on default - while earnings continue to dominate news flow locally. As of Friday, around 20% of the market’s total capitalisation had reported results, so far, so good with earnings beats outnumbering earnings misses by a solid ratio of 3:1, although we have seen adjustments lower for FY24 on softer outlooks.

The Match Out Market Matters
Afternoon report

The Match Out: ASX higher on mixed day of earnings

A solid day for the ASX as reporting threw up some more interesting candidates from a broad cross-section of industries, some hits, misses and a few in between, while we saw some action amongst the energy stocks with Crude breaking higher and Coal prices finding some support.

The Match Out Market Matters
Afternoon report

The Match Out: Shares move higher following record CBA result

Shares started slowly today but found their mojo into the afternoon, finishing near highs on the back of strength in the banks. There was little change ahead of inflation data coming out of China mid-morning, but when that passed without concern, the focus returned to CBA’s record result.

The Match Out Market Matters
Afternoon report

The Match Out: Early optimism fades, ASX flat as Hardies beat

The day started well with some reasonable buying across most major sectors however by midday, things had taken a turn and optimism was thin on the ground. A mixed bag from companies that reported results ahead of Commonwealth Bank (CBA) out with numbers tomorrow morning – we’ll cover them as they land.

The Match Out Market Matters
Afternoon report

The Match Out: Subdued session as the Bankers enjoy a long weekend!

A subdued start to the week with the ASX edging lower, void of any real impetus in either direction. A bank holiday, no influential companies reporting and a softer night on Friday in the States saw local investors sit largely idle, with winners and losers split evenly across the main board.

The Match Out Market Matters
Afternoon report

The Match Out: Late spurt pushes stocks up on the day, Resmed (RMD) hit on earnings miss

A quieter end to a more volatile week for equities with a US rating downgrade, continued volatility in bond markets, while overlapping quarterly earnings in the US and the start of FY reporting locally kept things interesting. Ultimately, stocks ended lower, bond yields were generally higher while commodities by in large remained resilient.

The Match Out Market Matters
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