Marcus Take Wednesday – Big Tech pause, China scepticism, Lithium rally over

Reports Section

Was that the Big Tech Top? Far too early to say. And Nvidia was up. Our Futures only down 10 – a lack of Tech helps sometimes. Cynicism over China’s “meaningless” 5% GDP target. Concerns for Tesla’s and Apple’s Chinese sales. Lithium smashed again – Albermarle exploits the froth. Goldman predicts 25% fall in lithium from here. Short covering rally won’t last. Bond yields conming down nicely. Powell speaks 2am Thursday morning. Bitcoin tops out for a day. Lots of ex-dividends again.

COL Results Recap

Stock Takes

Coles Group Results (COL) last Tuesday – Held in the Income Portfolio. Sales up 7%, earnings down 5% and profit down 3.6%. The stock is up 4.3% since reporting, having been as high as +8% yesterday. Dividend unchanged at 36c, fully franked. Financing costs rose 14% due to higher interest rates on lease liabilities and…

PPT Results Recap

Stock Takes

Perpetual (PPT) had results last Wednesday – Held in the Income Portfolio. Net profit up 29%, underlying profit up 46% (not including the Pendal integration costs). Two of its three segments recorded profit growth. Funds under management up 165% thanks to the successful Pendal integration. Its $40m synergy target exceeded. The corporate trust segment saw…

AFG Results Recap

Stock Takes

Australian Financial Group (AFG) Results – Held in the Income Portfolio. Suffered a nasty 10% drop after reporting last Thursday. Net profit down 34% and net interest margin down by $11.6m due to peak funding costs and competition. Not all bad, the broking segment saw a market share increase to 21% and the outlook for…