ASX Stock Market Correction Deepens: Technology Leads Declines as Bull Market Nears Rebound
Looking at the Australian sector performance, it was a sea of red ink. All 11 broad sectors finished in negative territory. Technology led the carnage with a devastating -6% decline, extending the sector’s monthly losses. Materials fell -3%, while Financials shed -1.9%, which looked overdone. Whenever we get these two heavyweight sectors both falling on […]
Global Markets Hold Steady as Gold Hits Record Highs
The S&P 500 rose +0.4% to 6,671, as the Dow Jones -0.04% closed nearly flat. The Nasdaq lifted +0.66% while the Russell 2000 continued to lead the benchmarks with a gain of +0.97%. Morgan Stanley hit a record high, while Bank of America rose nearly +4.4% after beating Wall Street estimates. This week’s bank results […]
Australia’s Big Four Banks: NAB, ANZ & Westpac Outlook
Today, we briefly review our exposure to the majors banks and update our take on the group. Australia’s banking sector has proven to be resilient over bumpy 2024. The Big Four — Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), ANZ Group Holdings (ANZ), and Westpac Banking Corporation (WBC) — delivered stellar performances in […]
Today’s Top Stocks – 10 Sept 24
Notable Stocks: ASX Movers, US Tech Updates & Global Market Highlights Notable Stocks Australia Market: Stockland, Wisetech, CSL, Westpac, Domino’s Pizza, Seven Group, Qantas & ARB Corp. US Market: Microsoft, Alphabet, Apple, Palantir Technologies, JetBlue Airways, Arm Holdings & Cannabis stocks. Other Global Markets: Fresnillo – Mexico, Pernod Ricard – France, Rightmove – UK, Burberry […]
Australian Shares Tumble as US Data Sparks Fears – Join Our Macro Webinar
Australian shares endured their sharpest drop since the bloodbath in early August after weak US manufacturing data renewed global economic fears. Want to know what our take is? Tune in to our latest Macro webinar to hear our CIO Angus Geddes shared his insights and predictions for the market ahead. Members WebCASTs: Our Members […]
ASX200 Suffers Sharpest Drop Since August as Global Growth Fears Resurface
Australian shares endured their sharpest drop since the risk-off move in early August, with the ASX200 falling 1.88% to 7950. Declines were broad-based across sectors and stocks as global growth fears resurfaced. This followed weaker-than-expected US manufacturing data and sharply lower oil prices. Local miners and energy stocks came under pressure. Local GDP data confirmed that many […]
ASX Earnings Season Wrap: Winners & Losers from Reporting Season
With the ASX earnings season now drawing to a close, it’s the perfect moment to reflect on the key takeaways from this reporting period. This season has presented a mixed bag of results: some companies have exceeded expectations and emerged as clear winners, while others have underperformed. In this overview, we’ll examine some of the […]
Buying British made
Key themes and stocks discussed today: US markets were closed for a public holiday. This week, all eyes will be on the labour market, the August Non-farm payrolls, and the unemployment rate due to the drop on Friday morning. This data point will determine whether the Fed goes with a 25—or 50-bps cut in two weeks’ […]
Today’s Top Stocks – 30 Aug 24
1. Australia Market The ASX 200 slid -0.33% on Thursday as traders digested another wave of corporate reports, with significantly more misses than hits. The benchmark opened underwater following a weak lead from Wall Street and Nvidia’s sharp fall in after-hours trading. The index fell deeper in early trading but enjoyed some buy-the-dip support in the afternoon […]
Speedbump
Domino’s Pizza Enterprises (ASX: DMP) Shares in master franchisee – and largest franchisee outside the US – Domino’s Pizza Enterprises (ASX.DMP) continued to be under greater pressure after the release of a ‘strategy update’ wherein management will streamline operations but also exit some unprofitable markets. To be fair, this move was not a complete surprise […]
Mobile bill pain for consumers is Telstra’s gain
Telstra (ASX: TLS) Telstra shares have been strong gainers year-to-date, extending gains from 2022 thanks to several factors, spearheaded by positive financial traction and the increase in dividends. In our view, there is significant optionality for the monetisation of the InfraCo business, although we may have to wait until late 2023 or beyond for a […]
Prices Take Some Back
Rio Tinto (ASX: RIO) Rio Tinto has revealed a reversal in its numbers for 2022, following falls in underlying and statutory earnings, and across all its reporting lines. While the balance sheet continues to be a key standout feature it was regeared but remains pristine. Shareholders saw the annual dividend near halve while no special […]
