Viewpoint: Bullish
The $US rallied strongly last week as it again demonstrated how markets regard it as a safety proxy during global economic slowdowns, a characteristic which lines up with falling commodity prices both fundamentally and of course because they’re denominated in $US. Our target for this previously flagged rally is ~95 which implies the current forces at play…
The ASX200 endured a rare fall last week with the heavyweight Resources and Banks inflicting the damage, interestingly under the hood the stock and sector performance was very mixed with a number of shining lights from some less influential stocks. There was some eye catching declines by many major names from within the Value Sector…
FY21 Result: SGP have reported funds from operations (FFO) of 0.331 today (inline) & a FY21 dividend of 0.246 (inline). Guidance for FFO for FY22 or 34.6-35.6cps was inline with current expectations. Shares are trading down 1.3% just before the close.
First Half Results: Reported 1H revenue of $109.4m, NPAT of $33.5m & interim dividend of $0.175 which all looks solid, and while no specific guidance provided for the 2H their rhetoric was positive. Shares are trading flat nearing the close.
Battery materials business IGO has fallen -13% over the last fortnight pretty much in-line with the Resources Sector but with some extra zip because its considering buying nickel miner Western Areas (WSA). This strategic move is factored into the market and on balance we believe it would be beneficial for IGO shareholders however the share price is reflecting…
Similar to Santos we purchased OZL for our Flagship Growth Portfolio into recent weakness at $21.20, we are keen to increase this 3% holding to 5% if we see another dip down near $20, their 1H result this week was strong.
MM allocated 3% of our Flagship Growth Portfolio into STO at $6.54 with the intention of increasing the position ~$6.20. Previously we’ve held off from further purchases due to the overall look & feel of the market but following the recent panic across the sector we believe an excellent entry into STO is on offer i.e. MM is looking to follow our initial plan…
CSL rallied +3.2% yesterday after fully digesting / embracing Wednesdays annual report i.e. NPAT came in at $US2.31bn following a 10% lift in revenue. Guidance came in a touch below analyst expectations but overall its an unquestionably strong result from a company that would rather “under promise and over deliver” – MM likes CSL after its 30% pullback…
Intellectual property services company IPH rallied +5.6% yesterday making it the 7th best on ground after reporting FY21 earnings – the headlines were average with revenue down 2% to $363.5m and NPAT also 2% lower at $54.8m. However the company was able to deliver consistent earnings through the pandemic which is no mean feat, moving…
The ASX200 fell another -0.5% yesterday even with the number of winners & losers evenly balanced, however the influential Resources Sector was again smashed with heavyweights BHP Group (BHP), RIO Tinto (RIO), Independence Group (IGO) and Fortescue Metals (FMG) all falling by over 5%. Iron Ore and copper were down heavily during…
