The ASX200 closed last week little changed but under the hood the market was anything but quiet on both the stock & sector level. The influential banks, healthcare and IT names were firm while the resources and utilities struggled but on the week it was almost impossible to look past the collapse of the markets major iron ore stocks, the more dependent the company is on the bulk commodity price for its revenue the harder it fell
The ASX200 experienced some September wobbles last week finally closing down 116-points / 1.5%, all 11-sectors closed in the red with the Materials & Real Estate stocks worst on ground. Fridays was a classic mean reversion session with many stocks which endured a tough week managing to bounce, and vice versa. A couple of themes caught my attention through the relatively volatile week:
The ASX200 has commenced September in similar fashion to most of the year, if the rhythm remains the same we are likely to see a breach of 7700 before we enter the final quarter of 2021. This weeks small gain was spearheaded by an aggressive advance by the medium size resource stocks e.g. Alumina (AWC) +19%, Whitehaven Coal (WHC) +18% and South32 (S32) + 13% who appeared to embrace any stabilisation by the commodities markets.
The ASX200 delivered a fascinating week under-the-hood even while the index hardly moved, on the sector level it was also fairly quiet as we all focused on the big hits and misses as corporate Australia faced the music – 8 stocks finished the week down 10%, or more, while an impressive 12 companies ended the week higher by the same degree, in other words 1 out 10 ASX200 stocks moved by more than 10% over the 5-days.
The ASX200 struggled last week finally closing down 168-points / 2.2% as the Resources Sector fell from grace with a bang e.g. BHP Group (BHP) -16%, RIO Tinto (RIO) -10.9%, OZ Minerals (OZL) -9.5% and Independence Group (IGO) -10.6%.
We actually saw 6 of the 11 market sectors rally last week but when the mighty banks and resources fall the ASX is always going struggle and last week was no exception.
Another week and almost another 100-points as the ASX200 rallies ever higher posting new all-time highs along its merry way. Reporting season maintained its bullish tailwind for equities with the hugely influential Financial Sector the main beneficiary over the week - a huge positive impact on the local index which is currently made up...
Global equities continue to follow good old fashioned corporate earnings while dismissing short-term worries around COVID along the way. Bull markets view news flow through rose coloured glasses and that’s exactly what local stocks have enjoyed since their latest rally commenced back in 2020, 10-months and an impressive 1747-points / 30% ago:
The ASX200 ended last week unchanged after an early assault on fresh all-time highs, the large cap miners supported the index while most other stocks & sectors closed in the red for the week on Friday. Interestingly the migration from growth to value stocks is currently unfolding in earnest while bond yields continue to plumb multi-month lows as the escalating Sydney lockdown threaten...
Last week saw the ASX200 shrug off a rapidly deteriorating COVID picture particularly in Sydney finally managing an impressive positive close up +0.6%, the week was distinctly one of 2 halves. Firstly we plummeted lower on fears of a double dip recession only to recover strongly as the market appeared to weigh up a potential ramp up in Federal & State economic stimulus & / or a largely vaccinated country...
The ASX200 has now completed 6-weeks of oscillating in the tight 7200-7400 trading range, it’s becoming increasingly tough to find something interesting to discuss from on index perspective as it remains comfortable meandering around in a small 2.5% band. However on the sector level things have been more interesting
The ASX200 experienced some September wobbles last week finally closing down 116-points / 1.5%, all 11-sectors closed in the red with the Materials & Real Estate stocks worst on ground. Fridays was a classic mean reversion session with many stocks which endured a tough week managing to bounce, and vice versa. A couple of themes caught my attention through the relatively volatile week:
The ASX200 has commenced September in similar fashion to most of the year, if the rhythm remains the same we are likely to see a breach of 7700 before we enter the final quarter of 2021. This weeks small gain was spearheaded by an aggressive advance by the medium size resource stocks e.g. Alumina (AWC) +19%, Whitehaven Coal (WHC) +18% and South32 (S32) + 13% who appeared to embrace any stabilisation by the commodities markets.
The ASX200 delivered a fascinating week under-the-hood even while the index hardly moved, on the sector level it was also fairly quiet as we all focused on the big hits and misses as corporate Australia faced the music – 8 stocks finished the week down 10%, or more, while an impressive 12 companies ended the week higher by the same degree, in other words 1 out 10 ASX200 stocks moved by more than 10% over the 5-days.
The ASX200 struggled last week finally closing down 168-points / 2.2% as the Resources Sector fell from grace with a bang e.g. BHP Group (BHP) -16%, RIO Tinto (RIO) -10.9%, OZ Minerals (OZL) -9.5% and Independence Group (IGO) -10.6%.
We actually saw 6 of the 11 market sectors rally last week but when the mighty banks and resources fall the ASX is always going struggle and last week was no exception.
Another week and almost another 100-points as the ASX200 rallies ever higher posting new all-time highs along its merry way. Reporting season maintained its bullish tailwind for equities with the hugely influential Financial Sector the main beneficiary over the week - a huge positive impact on the local index which is currently made up...
Global equities continue to follow good old fashioned corporate earnings while dismissing short-term worries around COVID along the way. Bull markets view news flow through rose coloured glasses and that’s exactly what local stocks have enjoyed since their latest rally commenced back in 2020, 10-months and an impressive 1747-points / 30% ago:
The ASX200 ended last week unchanged after an early assault on fresh all-time highs, the large cap miners supported the index while most other stocks & sectors closed in the red for the week on Friday. Interestingly the migration from growth to value stocks is currently unfolding in earnest while bond yields continue to plumb multi-month lows as the escalating Sydney lockdown threaten...
Last week saw the ASX200 shrug off a rapidly deteriorating COVID picture particularly in Sydney finally managing an impressive positive close up +0.6%, the week was distinctly one of 2 halves. Firstly we plummeted lower on fears of a double dip recession only to recover strongly as the market appeared to weigh up a potential ramp up in Federal & State economic stimulus & / or a largely vaccinated country...
The ASX200 has now completed 6-weeks of oscillating in the tight 7200-7400 trading range, it’s becoming increasingly tough to find something interesting to discuss from on index perspective as it remains comfortable meandering around in a small 2.5% band. However on the sector level things have been more interesting
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