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 feels like it’s been on a small rollercoaster ride of late but after rallying strongly into the close yesterday we finished off the week basically where we kicked off at the start of June i.e. there’s been lots of news on both the economic and social level but all stocks have done for the last month is rotate between sectors
The ASX200 ended the week in style rallying +0.6% as the index enjoyed broad based buying to end the fairly choppy EOFY week unchanged, literally to the point. As we commence the FY21/22 I can imagine a number of fund managers are thinking how do we match the performance of the last 6 & 12-months
The ASX200 gave back some ground last week, even after a strong session on Friday, however considering almost 1 million people are back in lockdown in Sydney a loss of under 1% feels to me like an admirable performance. The current measures are already flagged to cost the economy in excess of $300m with the potential to worsen significantly if we fail to contain the Indian Delta variant of COVID.
The ASX200 managed to maintain its upward momentum through last week posting fresh all-time highs on Wednesday as the IT & Healthcare Sectors led the gains i.e. the growth names. Conversely the Resources Sector endured a tough week at the office as a very strong $US produced a significant headwind for the underlying commodities, noticeably large cap names such as OZ Minerals (OZL) -11% and South32 (S32) were caught up in the selling, 2 stocks MM likes very much at lower levels.
The ASX200 has maintained its upward momentum closing up +2.1% for June on Friday, as we’ve pointed out in previous reports a nudge of 7400 is likely in the next few weeks assuming local stocks match the average gains over the last 4-months.
The ASX200 has kicked off June in similar fashion to the previous 3-months, its less than one week old and the index is already up almost +2%, the banks have maintained their upside momentum while being solidly supported by the broad market with the exception of the IT stocks which are still doing it tough. Bond yields and interest rates might have been treading water for the last 12-weeks but fund managers are clearly still rotating their portfolios towards a strong economy / higher interest rate environment
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 feels like it’s been on a small rollercoaster ride of late but after rallying strongly into the close yesterday we finished off the week basically where we kicked off at the start of June i.e. there’s been lots of news on both the economic and social level but all stocks have done for the last month is rotate between sectors
The ASX200 ended the week in style rallying +0.6% as the index enjoyed broad based buying to end the fairly choppy EOFY week unchanged, literally to the point. As we commence the FY21/22 I can imagine a number of fund managers are thinking how do we match the performance of the last 6 & 12-months
The ASX200 gave back some ground last week, even after a strong session on Friday, however considering almost 1 million people are back in lockdown in Sydney a loss of under 1% feels to me like an admirable performance. The current measures are already flagged to cost the economy in excess of $300m with the potential to worsen significantly if we fail to contain the Indian Delta variant of COVID.
The ASX200 managed to maintain its upward momentum through last week posting fresh all-time highs on Wednesday as the IT & Healthcare Sectors led the gains i.e. the growth names. Conversely the Resources Sector endured a tough week at the office as a very strong $US produced a significant headwind for the underlying commodities, noticeably large cap names such as OZ Minerals (OZL) -11% and South32 (S32) were caught up in the selling, 2 stocks MM likes very much at lower levels.
The ASX200 has maintained its upward momentum closing up +2.1% for June on Friday, as we’ve pointed out in previous reports a nudge of 7400 is likely in the next few weeks assuming local stocks match the average gains over the last 4-months.
The ASX200 has kicked off June in similar fashion to the previous 3-months, its less than one week old and the index is already up almost +2%, the banks have maintained their upside momentum while being solidly supported by the broad market with the exception of the IT stocks which are still doing it tough. Bond yields and interest rates might have been treading water for the last 12-weeks but fund managers are clearly still rotating their portfolios towards a strong economy / higher interest rate environment
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