Australia…One Hour In…ASX up 13 points
ASX200 up 13 points (0.2%) to 6870. Newcrest (+5.5%); 1H profit more than doubled as the co announced a beefed-up dividend policy, projected annual gold output at the high end of its forecasts.
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The Overnight Report: Losing Direction
| World Overnight | |||
| SPI Overnight (Mar) | 6766.00 | – 33.00 | – 0.49% |
| S&P ASX 200 | 6856.90 | + 35.70 | 0.52% |
| S&P500 | 3909.88 | – 1.35 | – 0.03% |
| Nasdaq Comp | 13972.53 | – 35.16 | – 0.25% |
| DJIA | 31437.80 | + 61.97 | 0.20% |
| S&P500 VIX | 21.99 | + 0.36 | 1.66% |
| US 10-year yield | 1.13 | – 0.02 | – 2.07% |
| USD Index | 90.43 | – 0.01 | – 0.01% |
| FTSE100 | 6524.36 | – 7.20 | – 0.11% |
| DAX30 | 13932.97 | – 78.83 | – 0.56% |
By Greg Peel
Read MoreTelstra Announces Double-Digit Decline in Earnings
Telstra continues its battle to cope with COVID, the rapidly changing marketplace and competition, as well as the NBN.
Read MoreMorning Report: US sharemarkets swung between gains and losses on Wednesday
The Dow Jones index was up by 62 points or 0.2% to a record closing high. But the S&P 500 index fell by less than 0.1% and the Nasdaq index was down by 35 points or 0.3% -after hitting all-time highs.
Read MoreGermany Seems Poised to Only Ever Do the Minimum to Support the Euro
Public disgruntlement stops Berlin cementing a currency union that helps make the country an export dynamo, writes Magellan’s Michael Collins.
Read MoreRecovering Foundations for Infrastructure
Demand for digital infrastructure and recent commitments from governments around the world have once again piqued investor interest for infrastructure.
Read MoreNorthern Star, MinRes Show Depth of Mining Boom
Solid results from two mid-tier miners yesterday in Northern Star and Mineral Resources which confirm the boom is not limited to megaminers such as BHP and RIO.
Read MoreCrown Keeps Cards Close to Chest
Anyone hoping for a detailed statement from Crown to Tuesday’s damning Bergin report would have been left disappointed by a one paragraph release and brief statement from CPH.
Read MoreMuted Response by Market to CBA Interim
Irrespective of investors’ mixed response to it, Commonwealth Bank’s interim result has set the tone for the rest of the sector over the next two months.
Read MoreIAG Declares Dividend Despite Reporting Loss
Investors ignored IAG’s reported loss of $460 million, instead choosing to focus on the company’s decision to declare a dividend of 7 cents per share.
Read MoreWeak Cash Flow, Contracting Margins Send Cimic Shares Reeling
A disappointing full year result from Spanish-controlled contractor CIMIC Group saw the shares slump 17% at one stage before closing down 4.5% to $21.56.
Read MoreEvening Report: ASX rebound led by tech stocks
The ASX 200 has rebounded from Tuesday’s losses as the index rose 35pts or 0.52% to 6,857. BNPL stocks Afterpay (APT) and ZipCo (Z1P) both hit record highs while Crow Resorts (CWN) slipped as it faces hurdles for its Sydney casino licence.
Read MoreLunch Report: ASX rebounding back towards 11-month highs
Aussie shares are rebounding from Tuesday’s losses. The ASX 200 is slightly firmer at lunch as the majority of the market improves. BNPL names are among the standouts while Crown is down on concerns for its Sydney gaming licence.
Read MoreAustralia…One Hour In…ASX up 17 points
ASX200 up 17 points (0.2%) to 6838. Commonwealth Bank (-0.6%); in short, posted a 21% fall in 1H profit but lifted the dividend significantly to $1.50 vs 98c previously. Lots of research reports out there. ANZ -0.1% NAB -0.4% WBC -0.1%.
Read MoreMorning Report: US sharemarkets ended mixed on Tuesday
At the close of trade, the Dow Jones index was lower by 10 points or less than 0.1%. The S&P 500 index fell by 0.1%. But the Nasdaq index was up by 20 points or 0.1% to record highs.
Read MoreNo Nasty Surprises in CBA Result
The Commonwealth Bank met investor expectations with a lower profit than a year ago, a lower dividend but it was also higher than the final for 2019-20 and that’s what the market had been wanting.
Read MoreProblematic Portfolio Continues to Weigh on Boral
While sector rival James Hardie continues to turn things around, Boral is still struggling to get rid of dud assets bought by the previous CEO, Mike Kane.
Read MoreHardie in Generous Mood as US Operations Flourish
The contrast could barely be more marked between the weak result and dividend suspension by Boral and James Hardie’s surging profits and special payout to shareholders.
Read MoreSuncorp Keeps Dividend Flat Despite Stronger Profit
Brisbane-based Suncorp has left its interim dividend unchanged despite reporting profit growth in its core insurance and banking businesses.
Read MoreChallenger Shares Plummet on Patchy Performance
Shares in annuities specialist Challenger plunged more than 14% yesterday after investors gave the half year results the thumbs down.
Read MoreChips Down for Crown as Commission Reports
Crown Resorts shares will come under enormous pressure today after its future in the Australian gambling business was thrown into considerable doubt.
Read MoreDexus Still Flailing in the Face of Property Weakness
Continued weakness in property values thanks to the pandemic have seen Dexus’ earnings more than halve in the half year to December.
Read MoreSteep Monthly Fall in Pilbara China Ore Shipments
The timing of the Lunar New Year had plenty to do with the 10% fall in iron ore exports to China through Port Hedland over the past month.
Read MoreEvening Report: Market declines from 11-month high
The Aussie sharemarket finished at an intraday low, sliding by ~0.9% following a better start to trade and after hitting an 11-month high on Monday. All sectors lost ground.
Read MoreCharter Hall Long WALE Achieves Growth
Charter Hall Long WALE has shown its resilience in the current environment with quality assets and further valuation gains, according to Eva Brocklehurst.
Read MoreLunch Report: Stocks fade from better start
The Australian sharemarket is losing ground despite another record high in US markets and a better start to trade. The local market hit a fresh record high on Monday.
Read MoreAustralia…One Hour In…ASX down 7 points
ASX200 down 7 points (0.1%) to 6873. Macquarie Group (+7.4%); expects its annual profit to fall slightly compared to last year, but sees improvement in the Dec Q.
Read MoreBell Potter LIC Weekly: Attractive Global Growth Opportunities
Bell Potter analyst Hayden Nicholson updates developments in the LIC market. Attractive Global Growth Opportunities. WCM Global Growth (WQG). Thorney Re-Introduces Buy-Back.
Read MoreMorning Report: US sharemarkets closed at record highs on Monday
At the close of trade, the Dow Jones index rose by 237.5 points or 0.8%. The S&P 500 index was up by 0.7% and the Nasdaq index was higher by 131 points or 1%.
Read MoreVocus Shares Spike on Bid Confirmation
Shares in Vocus Group surged on Monday after it confirmed market rumours it had received an indicative $3.5 billion takeover offer from Macquarie Infrastructure and Real Assets Holdings (MIRA).
Read MoreSigma Hits 2 1/2-year High on Forecast Bump
Shares in pharmaceutical wholesaler Sigma Healthcare hit their highest level in more than two and a half years yesterday after the company revealed a solid upgrade to expected earnings.
Read MoreRecession Indicators: Jobless Claims a Key Labour Barometer
The weak US December jobs report tells a somewhat more optimistic story than the headline figures suggest. ClearBridge Investments’ Jeff Schultze explains why.
Read MoreArgo Trims Dividend as Earnings Slide
Like many of its peers, Adelaide based Argo Investments has trimmed interim dividend after reporting a slide in earnings for the six months to December 31.
Read MoreBWP Trust Juggling Weak Rents, Lease Expiries
BWP Trust is facing a difficult time as rental reviews signal declining returns while the tenure of a key tenant, Bunnings, is not necessarily rock solid, writes Eva Brocklehurst.
Read MoreREA Group Instils Confidence, Valuation Not So
There is increased confidence in the outlook for REA Group after the first half result although the valuation is unsettling, according to Eva Brocklehurst.
Read MoreEvening Report: ASX hits new 11-month highs
The Aussie market has started the week on a solid footing with the ASX 200 hitting fresh 11-month highs. The index briefly breached 6,900 points but settled to close 40 points or 0.6% higher at 6,880. Major miners were among the main drivers of market improvements while ZipCo (Z1P) surged close to 13%.
Read MoreLunch Report: Aussie shares hit 11-month highs
The Australian sharemarket is up by 0.7% and has hit a fresh 11-month high on Monday thanks to a positive lead from Wall Street and gains across most sectors.
Read MoreAustralia…One Hour In…ASX up 33 points
ASX200 up 33 points (0.5%) to 6873. Afterpay (+1.8%); the number of first-time Afterpay app downloads in the US more than doubled in January compared with a year earlier.
Read MoreMorning Report: US market hits another record high
The US sharemarket hit a record high as weaker employment growth increased hopes of a US government stimulus deal passing through Congress. Aussie shares are set for a quiet start.
Read MoreHidden Gems Webinar Recap – ANP, EMH, TNR, AOU – 5/2/21
Catch up on the full webinar with presentations from Antisense Therapeutics (ASX:ANP), European Metals (ASX:EMH), Torian Resources (ASX:TNR) & Auroch Minerals (ASX:AOU)
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