Viewpoint: Bullish

Private equity players are literally sitting on buckets of cash looking for deals and while patience is a good story for a while investors will eventually become frustrated if returns aren’t forthcoming – perhaps someone will revisit RHC, KKR bid $88 last year and today the stocks 25% lower yet clarity has returned to the post-COVID economy.

EVN -1.98%: First-half numbers for the gold/copper company were on the lighter side, however, the company stuck to FY guidance, setting up for a big second half.

GMG +2.12%: a slightly soft 1H for the industrial property company, however, the guidance suggests this will be more than made up for in the second half.

NCM -1.69% : A very strong 1H23 result today for NCM reporting Net Profit After tax (NPAT) of $293m, which is well ahead of consensus of $262m. The dividend of 35c is well ahead of expectations and includes a 20c special dividend. Guidance remains unchanged with NCM targeting the lower range of guidance 2.1 – 2.4moz.

TLS +1.93%: Reported 1H23 Net Profit After tax (NPAT) of $934m, which was in-line with consensus of $929m. The dividend was in-line with expectations at 8.5c.

BAP +5.15%: the auto parts company reported a solid set of numbers for their 1H today, surprising the market which was fairly downbeat on expectations ahead of the release.

WHC -2.81%: A very volatile session for WHC with 1H23 results then an update on the Coal Reservation Scheme in NSW.

Rallied 32.8% overnight following strong Q4 results that showed TTD was growing while their competitors (Google) were not, further validating the advertising technology companies’ platform.

ALU hit a 52-week high yesterday as a major US counterpart reported a stronger-than-expected quarterly result, while recent outperformance by growth stocks was also supportive.