Stocks ended a busy week on the up with reporting season dominating the flow. Overall, results have been good, hard to fault them on aggregate hence the market has remained incredibly resilient around all-time highs, buoyed by overseas indices from the US, Europe & Japan all making new highs. We’ve obviously got a heavier exposure to China that is still struggling economically, however, worth noting the Shanghai Composite is on track to book its 2nd consecutive week of gains and is now up 13% from its mid-month low.
Another quiet day at the index level, but a lot happening under the hood as we hit the peak of local reporting season – always a good milestone, and we’re now on the home stretch. Super Retail was one of the first discretionary retailers to signal a slowdown in January and was sold off as a consequence, while Qantas had a volatile day announcing plans to spend big on new plans.
A weaker session thanks to a few large index weights disappointing, particularly amongst the resources, however worth noting some strength came through from the intra-day lows as Chinese equities bounced. It may sound like we’re clutching at straws, but there is growing evidence that China will get a handle on its economic woes, and we often see stock prices pre-empt such turning points.
Plenty of action under the hood again today with some big moves on either side of the ledger. BHP the big one to report results (inline) while Star (SGR) is in the regulator’s cross hairs again.
The index was little changed today but a lot happening under the hood, more misses than hits today, especially in our universe as reporting season kicks up a notch this week.
A choppy week on multiple levels with the macro-economic backdrop throwing up some surprises while local and US reporting season ensured a lot of earnings-driven variance across the market. While the week ultimately ended flat at the index level, nearly 20% of the ASX 200 finished higher or lower by more than 5%, although twice as many stocks were up by that quantum than down, driven by what’s generally been a very good results period so far.
The market bounced back nicely today, recouping yesterday’s losses underpinned by good company results – good only fashioned earnings are driving prices, while an eye-watering bid for Altium (ALU) also added some spice to the mix. Lots of companies we own out with numbers today, mostly good, but a couple below par.
While the market was down today, it traded a long way up from the session lows as ‘buy the dip’ played out fairly aggressively. SPI Futures ended the day +70pts above their 7am lows supported by company results that were better than expected/feared in most cases, and importantly, the market is prepared to reward the beats.
Volatility is picking up as reporting season builds steam, with some outsized moves permeating through some household names today, more misses than beats which reversed the recent trend.
A softer start to the week with the ASX dipping 0.4%, however, it was very stock specific with CSL down ~5% which accounted for 21pts of the ASX 200’s 30pt loss, while Materials & Energy were also on the nose.
Another quiet day at the index level, but a lot happening under the hood as we hit the peak of local reporting season – always a good milestone, and we’re now on the home stretch. Super Retail was one of the first discretionary retailers to signal a slowdown in January and was sold off as a consequence, while Qantas had a volatile day announcing plans to spend big on new plans.
A weaker session thanks to a few large index weights disappointing, particularly amongst the resources, however worth noting some strength came through from the intra-day lows as Chinese equities bounced. It may sound like we’re clutching at straws, but there is growing evidence that China will get a handle on its economic woes, and we often see stock prices pre-empt such turning points.
Plenty of action under the hood again today with some big moves on either side of the ledger. BHP the big one to report results (inline) while Star (SGR) is in the regulator’s cross hairs again.
The index was little changed today but a lot happening under the hood, more misses than hits today, especially in our universe as reporting season kicks up a notch this week.
A choppy week on multiple levels with the macro-economic backdrop throwing up some surprises while local and US reporting season ensured a lot of earnings-driven variance across the market. While the week ultimately ended flat at the index level, nearly 20% of the ASX 200 finished higher or lower by more than 5%, although twice as many stocks were up by that quantum than down, driven by what’s generally been a very good results period so far.
The market bounced back nicely today, recouping yesterday’s losses underpinned by good company results – good only fashioned earnings are driving prices, while an eye-watering bid for Altium (ALU) also added some spice to the mix. Lots of companies we own out with numbers today, mostly good, but a couple below par.
While the market was down today, it traded a long way up from the session lows as ‘buy the dip’ played out fairly aggressively. SPI Futures ended the day +70pts above their 7am lows supported by company results that were better than expected/feared in most cases, and importantly, the market is prepared to reward the beats.
Volatility is picking up as reporting season builds steam, with some outsized moves permeating through some household names today, more misses than beats which reversed the recent trend.
A softer start to the week with the ASX dipping 0.4%, however, it was very stock specific with CSL down ~5% which accounted for 21pts of the ASX 200’s 30pt loss, while Materials & Energy were also on the nose.
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