National Australia Bank (NAB) results: Up a mere 1.6% since reporting, meeting most brokers expectations. Statutory profit of $1.7bn. Cash earnings fell 17% compared to 1Q23 mostly due to impairment charges. The credit impairment charge came in at $193m. Higher than last quarter’s $165m due to rising mortgage arrears (people not paying the required amounts…
Sonic Healthcare (SHL) results looked reasonable but saw it pummelled, down 8%. Profit came in at $202m, down 47%. The significant fall due to a 90% fall in COVID-related revenue. Despite the Covid drop the company has generated 6% of organic growth. New acquisitions this FY in Germany and Switzerland have also secured $500m of…
ASX 200 shrugs off early weakness to close up 38 points at 7699 (0.5%).
Good gains in industrials.
Results in focus – HVN up 4.4%
The results season finishes today – we have two new trades in the Idea Portfolio today
Two new trades today. See the Trading Section. Uranium stocks bottoming. NextDC – big win on results yesterday up 13%. Last day of the results season. Phew. RHC, ALX, KAR, PTM today. US PCE price index numbers tonight. Lots of ex-dividends on the calendar – PME, MPL today. ASX, SHL, MIN tomorrow. Bitcoin – hate to tell you – it’s going up. Lithium stocks tickling higher again. BHP and RIO lower in the US – Chinese PMI numbers tomorrow.
Wall Street closed in the red overnight as markets remain cautious ahead of PCE inflation data tomorrow that could influence the Fed’s rate cut decisions. The Dow slipped by 0.06%, the S&P 500 by 0.17%, the NASDAQ by 0.55%, and the Russell 2000 by 0.77%. Market activity was subdued, with no specific catalyst driving the…
SUMMARY Two new trades today: LLC and BOE. Adding using opening prices. MQG runs into resistance. Cash. No change to BHP. JBH prints a weekly sell signal after its excellent run. Up 44% in the last year. China focussed A2M and TWE overbought after a recent (potential) renaissance. ALL hits a 52-week high. OBSERVATIONS Two…
Reporting season theme is CONTROL.
Added DXB yesterday – How options work.
ASX 200 shrugs off early weakness to close up 38 points at 7699 (+0.5%). So close. Good gains in industrials, led by WES up 1.1%, ALL up 1.5% and supermarkets COL and WOW better. Banks were flat, the Big Bank Basket flat at $205.05 (+0.4%). MQG kicked 0.6% and QBE up 0.5%. REITs firm with…
The S&P 500 pulled back 0.17%.
The Nasdaq Composite fell 0.55%.
The Dow Jones fell 0.06%, to end at 38,949.02
Bitcoin surges past US$64,000 Briefly.
