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.
The ASX200 has enjoyed a very impressive start to February which looks well positioned to continue today following a solid conclusion to the week on Wall Street. Last week the fuel came from a combination of the RBA and the start of earnings season with the later likely to dominate proceedings this week especially when CBA step up to the plate on Wednesday, they’re set of numbers will not only tell the story of the banks performance but also give an excellent read through for the whole Banking Sector and Australian economy.
The ASX200 took a breather yesterday after its stellar start to February although a -0.9% pullback is relatively minor considering the impressive advance from Mondays low. While losses were fairly broad-based with 75% of stocks closing in the red the selling didn’t feel particularly aggressive although 2 of the recent top performers Virgin Money (VUK) and NRW Holdings (NRW), who both made fresh 6-month highs this week, did encounter some fairly active profit taking – stock & sector rotation shouldn’t surprise subscribers this year.
The ASX200 enjoyed another strong February session yesterday rallying almost 1% to take the advance from Mondays low to 4.7%, not a bad way to start the month. The gains were broad-based with over 80% of the market rallying but Banks, Real Estate and Healthcare stocks caught my eye on the upside while conversely the Resources Sector took a well-deserved rest.
The ASX200 has gone from strength to strength since it reversed strongly on Monday morning, its advance on Tuesday compounded gains to almost 250-points in under 36-hours, a little longer yesterday and we would have been nudging fresh post COVID highs – perhaps today! Under the hood the Healthcare Sector was the only one to lose ground while gains were broad-based with over 70% of stocks rallying.
The ASX200 enjoyed an extremely bullish turnaround to kick off both the week and February, after being down 90-points late morning the sentiment turned on a sixpence as “risk on” prevailed across the board – on the local bourse we finally closed up almost 1% with 60% of the market rallying led by the Healthcare & Resources Sectors. Elsewhere Asia followed suit with most major indices gaining over 2% while silver soared over 10% to make an 8-year high as the “Reddit Army” turned its attention to commodities - as we keep saying volatility is set to rule in 2021.
Over the weekend the market news was mildly negative in my opinion as 80% of WA’s population went into a COVID lockdown for the first time in over 6-months. A new case has been recorded of the potentially highly infectious UK strain of the virus by a hotel guard who never actually entered a hotel room.
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.
The ASX200 has enjoyed a very impressive start to February which looks well positioned to continue today following a solid conclusion to the week on Wall Street. Last week the fuel came from a combination of the RBA and the start of earnings season with the later likely to dominate proceedings this week especially when CBA step up to the plate on Wednesday, they’re set of numbers will not only tell the story of the banks performance but also give an excellent read through for the whole Banking Sector and Australian economy.
The ASX200 took a breather yesterday after its stellar start to February although a -0.9% pullback is relatively minor considering the impressive advance from Mondays low. While losses were fairly broad-based with 75% of stocks closing in the red the selling didn’t feel particularly aggressive although 2 of the recent top performers Virgin Money (VUK) and NRW Holdings (NRW), who both made fresh 6-month highs this week, did encounter some fairly active profit taking – stock & sector rotation shouldn’t surprise subscribers this year.
The ASX200 enjoyed another strong February session yesterday rallying almost 1% to take the advance from Mondays low to 4.7%, not a bad way to start the month. The gains were broad-based with over 80% of the market rallying but Banks, Real Estate and Healthcare stocks caught my eye on the upside while conversely the Resources Sector took a well-deserved rest.
The ASX200 has gone from strength to strength since it reversed strongly on Monday morning, its advance on Tuesday compounded gains to almost 250-points in under 36-hours, a little longer yesterday and we would have been nudging fresh post COVID highs – perhaps today! Under the hood the Healthcare Sector was the only one to lose ground while gains were broad-based with over 70% of stocks rallying.
The ASX200 enjoyed an extremely bullish turnaround to kick off both the week and February, after being down 90-points late morning the sentiment turned on a sixpence as “risk on” prevailed across the board – on the local bourse we finally closed up almost 1% with 60% of the market rallying led by the Healthcare & Resources Sectors. Elsewhere Asia followed suit with most major indices gaining over 2% while silver soared over 10% to make an 8-year high as the “Reddit Army” turned its attention to commodities - as we keep saying volatility is set to rule in 2021.
Over the weekend the market news was mildly negative in my opinion as 80% of WA’s population went into a COVID lockdown for the first time in over 6-months. A new case has been recorded of the potentially highly infectious UK strain of the virus by a hotel guard who never actually entered a hotel room.
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