Viewpoint: Bullish
This ASX traded ETF is currency hedged and looks to track the Nasdaq Global ex-Australian gold miners making it a good alternative to the better known local stocks. Following its 24% correction we believe the risk / reward towards the MNRS is attractive over the coming few months assuming our view towards bond yields proves on point.
The golds buffs would have loved the Australian gold stocks dominating the leaders board yesterday, it hasn’t been a common occurrence over recent times i.e. basically 50% of the ASX200 best performing stocks had a major gold influence. This year has been tough on precious metals as both interest rates and the $US have rallied strongly, the worst possible combination for the likes of gold and silver.
ALQ +1.95%: technical testing company ALS presented FY22 numbers to the market today, coming in slightly ahead of expectations. Revenue grew 24% to $2.2b, and EBIT was up 36% for the year to $409m, around 2% ahead of consensus. The commodities segment saw EBIT growth of over 40% thanks to a strong tailwind of volumes and price increases. Life Sciences also saw solid growth, organic EBIT growth of 29% plus an additional…
Shares in the diagnostic imaging company are trading in line with where they were 12 months ago. Albanese’s election win should provide some support for the sector here with his commitment to spending an additional $250m a year on Medicare as well as investing more in health services which is likely to drop down to more visits at Capital Health clinics. We have also recently seen further consolidation in the space…
Walmart Inc. is a technology-powered omnichannel retailer. The Company is engaged in the operation of retail and wholesale stores and clubs, as well as e-commerce websites and mobile applications, located throughout the United States, Africa, Canada, Central America, Chile, China, India and Mexico. It operates through three segments: Walmart U.S., Walmart International and Sam’s Club. The Walmart U.S. segment includes the Company’s mass merchant concept in the United States, as well as e-commerce, which includes omni-channel initiatives and certain other business offerings such as advertising services through Walmart Connect. It operates under the Walmart and Walmart Neighborhood Market brands. The Walmart International segment consists of the Company’s operations outside of the United States, as well as e-commerce and omni-channel initiatives. The Sam’s Club segment includes the warehouse membership clubs in the United States, as well as e-commerce and omni-channel initiatives.
A difficult week for Wesfarmers on the back of a soft first-quarter update from Target US (TGT US), speaking to an inventory backlog amid waning consumer demand. As consumers tighten their belts, retail becomes less attractive with more income going towards paying off mortgages and buying fuel. Fortunately for Wesfarmers, their business is a bit more than the one-hit-wonder compared to Target in the US with…
TNE -1.63%: first-half results were out for the HR & asset management SaaS business today with shares tracking lower despite a positive presentation. Annual Recurring Revenue (ARR) was up 44% on last year to $225m and Profit Before Tax (PBT) was 14% higher to $42.5m, both a small beat to expectations. Cashflow was weak, attributed to further R&D expenditure, though that is expected to normalize. The company reiterated..
Twiggy Forest’s FMG might have long term aspirations towards a green and sustainable business but for now it remains a very successful iron ore cash cow. The stock like many of its peers is extremely cheap trading on an Est. valuation of 7.2x for 2022 while its forecast to yield almost 12% pa fully franked over the next 12-months making it an exciting income play for the brave.
China has pressed the stimulus button, it was always a matter of when not if as XI Jinping’s “COVID Zero” policy has shutdown their economy as well as the people, we can’t the policy working but how they will deal with future inevitable breakouts will be interesting. However for now its all about pumping the world’s second largest economy back to life:
The Euro enjoyed a strong start to the week following comments from ECB President Lagarde that they will start raising rates in July to end their negative rate experiment by the end of September. The read through should be a weaker $US which is generally supportive of commodity prices.
