A strong open to trade this morning with the market buoyed by a very positive update from BHP, however, the best of it was seen early before a few sellers crept out of the shadows mid-morning. Stepping back for a moment, the ASX 200 peaked at 7624 on the 20TH April, coincidentally on my 40th birthday, before falling 1217 points / 16% to 6407 on the 20th of June - hopefully not a broader omen on life! From that low, the market has rallied 724pts...
A positive session to kick off the new trading week, one where reporting really starts to ramp up. Property & Consumer Discretionary stocks the driving force today, clearly the outcomes being achieved here are better than feared and stocks are rallying from a low base, while Energy & Financials underperformed.
A softer session to end a positive week for the ASX with the first full week of local reporting proving to be okay. Energy rallied back today, so too did the Telco’s while Property lost some of yesterday’s lustre.
The ASX opened with a bang this morning rallying off the back of a strong session in the US following signs that inflation has peaked, CPI printing 8.5% versus 8.7% expected. This is a big deal, uncontained inflation is the reason why rates have risen so aggressively and why risk assets had been sold off. Stabilisation here provides more certainty and more certainty gives confidence, and we all know the market ebbs and flows in the short term on this metric.
The ASX weakened today ahead of the all-important inflation print in the US tonight with consensus tipping a result of +8.7% YoY. Tech fell on concerns bond yields will rally again while the Utilities which are more defensive + some are linked to CPI fared well.
A choppy / lackluster session today from an index perspective although there continued to be more activity under the hood. Communications & IT were strong, Utilities and Financials were not as the ASX 200 held within a very tight ~20 point trading range.
The market continues to show resilience with any selling at the index level met with reasonable buying aided by corporate activity from BHP towards Oz Minerals (OZL) i.e. when the world’s largest resource company is happy to outlay $8.2bn in an all-cash tilt for another Copper miner, it implies a strong level of confidence in the global backdrop, and it looks like that confidence permeated through the rest of the market today. The ASX200 simply grinding higher - bottom left to top right - during the session to close above 7000 again.
The market opened flat this morning but tracked higher throughout the session to close above 7000 for the first time in more than 8 weeks. It was mixed news under the hood with Energy weaker on soft commodity markets, and Tech tapering some of the strong recent gains in the sector. Materials and the consumer focussed sectors made up the bulk of the rally in the index.
A strong open for the local market however the best of the session was seen before little lunch with the ASX ending flat on the day, closing ~46 points below the session high, back below the 7000 handle. IT stocks continued to perform, particularly the small caps while Energy & Materials fell.
While large-cap Australian shares fell today, the small caps took over the performance mantle with some big moves playing out across the growthier parts of the market, the small ords added +0.83% versus the ASX 200 which fell by 0.32% although the selling was very tepid. Putting that variance in real terms, that saw our emerging companies portfolio add around ~3.70% versus the large-cap growth portfolio which fell by around ~0.10% - some...
A positive session to kick off the new trading week, one where reporting really starts to ramp up. Property & Consumer Discretionary stocks the driving force today, clearly the outcomes being achieved here are better than feared and stocks are rallying from a low base, while Energy & Financials underperformed.
A softer session to end a positive week for the ASX with the first full week of local reporting proving to be okay. Energy rallied back today, so too did the Telco’s while Property lost some of yesterday’s lustre.
The ASX opened with a bang this morning rallying off the back of a strong session in the US following signs that inflation has peaked, CPI printing 8.5% versus 8.7% expected. This is a big deal, uncontained inflation is the reason why rates have risen so aggressively and why risk assets had been sold off. Stabilisation here provides more certainty and more certainty gives confidence, and we all know the market ebbs and flows in the short term on this metric.
The ASX weakened today ahead of the all-important inflation print in the US tonight with consensus tipping a result of +8.7% YoY. Tech fell on concerns bond yields will rally again while the Utilities which are more defensive + some are linked to CPI fared well.
A choppy / lackluster session today from an index perspective although there continued to be more activity under the hood. Communications & IT were strong, Utilities and Financials were not as the ASX 200 held within a very tight ~20 point trading range.
The market continues to show resilience with any selling at the index level met with reasonable buying aided by corporate activity from BHP towards Oz Minerals (OZL) i.e. when the world’s largest resource company is happy to outlay $8.2bn in an all-cash tilt for another Copper miner, it implies a strong level of confidence in the global backdrop, and it looks like that confidence permeated through the rest of the market today. The ASX200 simply grinding higher - bottom left to top right - during the session to close above 7000 again.
The market opened flat this morning but tracked higher throughout the session to close above 7000 for the first time in more than 8 weeks. It was mixed news under the hood with Energy weaker on soft commodity markets, and Tech tapering some of the strong recent gains in the sector. Materials and the consumer focussed sectors made up the bulk of the rally in the index.
A strong open for the local market however the best of the session was seen before little lunch with the ASX ending flat on the day, closing ~46 points below the session high, back below the 7000 handle. IT stocks continued to perform, particularly the small caps while Energy & Materials fell.
While large-cap Australian shares fell today, the small caps took over the performance mantle with some big moves playing out across the growthier parts of the market, the small ords added +0.83% versus the ASX 200 which fell by 0.32% although the selling was very tepid. Putting that variance in real terms, that saw our emerging companies portfolio add around ~3.70% versus the large-cap growth portfolio which fell by around ~0.10% - some...
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