The ASX200 drifted lower yesterday but the action under the hood remains very pronounced with 10 members of the index rallying by more than 5% but less than 40% of the index actually managed to close in positive territory i.e. it’s all about backing the right horse or in this case thematic / sector. Monday saw the travel stocks come back into favour while copper continued its acceleration higher conversely yield sensitive stocks like the Healthcare, Real Estate, Utilities and IT Sectors continued to struggle.
No major market news over the weekend as the COVID vaccine is rolled out from today in Australia, hopefully meaning no more state lockdowns, tennis remained the main topic of conversation both in the press and in our household and it was a bit of an anticlimax I’ve got to say! The ASX200 feels like its “wobbling” around the 6800 area but as we discussed in the Weekend Report all the actions unfolding beneath the hood. So far in 2021 the sectors catching my eye in 2021 are:
I often quote that “what defines us is how we deal with adversity” and the market certainly gave us a big right cross to recover from yesterday, mining and construction business NRW Holdings (NWH) tumbled -17% after delivering a disappointing half-year profit although we felt the market was too harsh on the stock – I felt like it was Friday when the bell rang yesterday, not Thursday.
The ASX200 gave back some recent hard fought gains yesterday under the weight of broad based selling with over 65% of the index finally closing down on the day.
The ASX200 posted its highest close in almost 12-months yesterday with the Resources Sector surging higher e.g. BHP Group (BHP) +2.7%, RIO Tinto (RIO) +3% and OZ Minerals (OZL) +4.4%
The ASX200 enjoyed a great start to the week eventually closing almost 1% higher, stocks opened strongly after global markets posted fresh all-time highs on Friday with the gains then compounded by some excellent advances on the stock level as company reports added to the markets positive tone e.g. Nearmap (NEA) +19% and Bendigo Bank (BEN) +11.3%. On the sector level the “risk on” theme remained very dominant with the Resources & IT Sectors strong while the defensive Utilities / Real Estate Sectors again slipped.
The ASX200 experienced a lacklustre Thursday in what’s been a very quiet week on the index level – with today’s trading still to go we’ve only seen a meagre 80-point range over the last 4-days.
The ASX200 regained most of Tuesdays losses yesterday with some positive reports helping the overall sentiment, overall a good performance considering CBA reversed down -1.5%. Australia’s largest bank actually rallied early in the day following their announcement of a larger than expected dividend which should put the bank in good stead to deliver a yield in excess of 5% when grossed up for franking, not bad when many term deposits are struggling to pay a tenth of this – CBA may need a “rest” after rallying over 20% in the last 3-months but the tailwinds remain in play leading to upgrades to CBA earnings forecasts from analysts this morning.
The ASX200 gave back a little ground yesterday as reporting season became the main game in town, 70% of stocks closed in the red and it currently feels like the market has started the week with elevated expectations towards company performance which unfortunately leaves plenty room for disappointment. The selling was indiscriminatory with all 11 sectors of the ASX200 closing lower but the worst on ground were generally stocks that have shone through most of 2021.
The ASX200 continued its impressive start to 2021 with another +0.6% gain yesterday although beneath the surface things were very mixed as the defensive Real Estate and Utilities Sectors were sold-off fairly hard i.e. the markets clearly positioning itself for a strong economic recovery post COVID and by definition higher bond yields and eventually some inflation.
No major market news over the weekend as the COVID vaccine is rolled out from today in Australia, hopefully meaning no more state lockdowns, tennis remained the main topic of conversation both in the press and in our household and it was a bit of an anticlimax I’ve got to say! The ASX200 feels like its “wobbling” around the 6800 area but as we discussed in the Weekend Report all the actions unfolding beneath the hood. So far in 2021 the sectors catching my eye in 2021 are:
I often quote that “what defines us is how we deal with adversity” and the market certainly gave us a big right cross to recover from yesterday, mining and construction business NRW Holdings (NWH) tumbled -17% after delivering a disappointing half-year profit although we felt the market was too harsh on the stock – I felt like it was Friday when the bell rang yesterday, not Thursday.
The ASX200 gave back some recent hard fought gains yesterday under the weight of broad based selling with over 65% of the index finally closing down on the day.
The ASX200 posted its highest close in almost 12-months yesterday with the Resources Sector surging higher e.g. BHP Group (BHP) +2.7%, RIO Tinto (RIO) +3% and OZ Minerals (OZL) +4.4%
The ASX200 enjoyed a great start to the week eventually closing almost 1% higher, stocks opened strongly after global markets posted fresh all-time highs on Friday with the gains then compounded by some excellent advances on the stock level as company reports added to the markets positive tone e.g. Nearmap (NEA) +19% and Bendigo Bank (BEN) +11.3%. On the sector level the “risk on” theme remained very dominant with the Resources & IT Sectors strong while the defensive Utilities / Real Estate Sectors again slipped.
The ASX200 experienced a lacklustre Thursday in what’s been a very quiet week on the index level – with today’s trading still to go we’ve only seen a meagre 80-point range over the last 4-days.
The ASX200 regained most of Tuesdays losses yesterday with some positive reports helping the overall sentiment, overall a good performance considering CBA reversed down -1.5%. Australia’s largest bank actually rallied early in the day following their announcement of a larger than expected dividend which should put the bank in good stead to deliver a yield in excess of 5% when grossed up for franking, not bad when many term deposits are struggling to pay a tenth of this – CBA may need a “rest” after rallying over 20% in the last 3-months but the tailwinds remain in play leading to upgrades to CBA earnings forecasts from analysts this morning.
The ASX200 gave back a little ground yesterday as reporting season became the main game in town, 70% of stocks closed in the red and it currently feels like the market has started the week with elevated expectations towards company performance which unfortunately leaves plenty room for disappointment. The selling was indiscriminatory with all 11 sectors of the ASX200 closing lower but the worst on ground were generally stocks that have shone through most of 2021.
The ASX200 continued its impressive start to 2021 with another +0.6% gain yesterday although beneath the surface things were very mixed as the defensive Real Estate and Utilities Sectors were sold-off fairly hard i.e. the markets clearly positioning itself for a strong economic recovery post COVID and by definition higher bond yields and eventually some inflation.
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