DMP – PIZZA BASE
DMP is enjoying a purple patch, up 10% in the past five days. Citi upgraded the company on Wednesday to Buy, noting that an inflection point has been reached and improvement in key financial metrics are expected.
Pre-Market Podcast Friday
Wall Street finished in the red overnight after a US treasury auction sent bond yields higher, and CPI data came in hotter than expected. September monthly headline CPI came at 0.4%, higher than consensus of 0.3%, down from 0.6% in August. Headline YonY remained unchanged at 3.7%, although higher than expectations of 3.6%.
Marcus Take
All Change – We are back on interest rate watch after the CPI number. Interest rate sensitive rally to end. US Results season starts tonight. Usually, a positive. Investment banks up first. DMP – Some broker upgrades. SGR – If you can swallow your ethics. BOQ after dropping 7% on results. Interesting moves in our industry.
Members Podcast
Market surviving the CPI number overnight – all is not lost although the rally has certainly started to doubt itself.
BOQ – Cheap Post Results But Should You Buy?
BOQ released full year results on Wednesday and was received poorly by the market to say the least. Down 7% (a lot for a bank) on the news, followed by an interesting bounce back yesterday, up 4%.
End of Day Report Friday
ASX 200 performs better than expected, falling only 40 points to 7051 (-0.6%). Volumes seemed light, and some book squaring ahead of US results helped sentiment. Banks eased back, with CBA down 0.6% and the Big Bank Basket down to $177.48 (-0.7%). Insurers slightly better IAG up 0.2%. Fund managers eased back, and REITs fell back as 10-year yields…
Marcus Take – The Doves are still flapping
The Doves are still flapping – we are four days into this market rally
CBA update post AGM – No new news
CBA had its AGM yesterday – the share price dropped 0.31% (hardly changed), with one broker saying there was "No new news". A fairly quiet affair. Just a lot of motherhood comments about assisting the cost of living pressures, holding a strong balance sheet, and remaining well placed heading into a lower growth environment. There…
CSL AGM Update – Market didn’t like it
CSL fell 6.3% today continuing its nasty downtrend, as the GLP-1 (obesity drugs) juggernaut continues to smash through the healthcare sector. It has already destroyed ResMed (RMD) and yesterday their five year study into the GLP-1 efficacy in treating chronic kidney disease and Type 2 diabetes was halted early because the results were so good. It is…
End of Day Report Thursday
ASX 200 limped to a 3-point gain to 7091 (+0.04%) ahead of US CPI. Six sessions in a row. Just. CSL was the biggest drag on the index as positive drug trials in the US marred the outlook for medical companies. The stock fell 6.3%, RMD down 5.3% on the same effect. Banks once again…