McMillan Shakespeare (MMS) held in the Income Portfolio is up 25% since results last week. It is now well overbought – having a habit of spiking on results and then peaking. 1HFY24 reports novated lease sales up 25.7%, sales up 42.9% to $87m. Profit of $37m up 5.8%. Interim fully franked dividend of 76c, up…
Paladin (PDN) Results – No revenue or dividends yet as expected. Profit of $61m mostly from the reversal of an old impairment charge offsetting costs of getting the mine up and running again. 45% of a stockpile at the mine was impaired back in 2016 due to low prices. Thanks to the recent rise in…
ASX 200 closes up 47 points to 7724 (+0.6%) on an all-time high. Defensive sectors were sold off as risk appetite returned with a vengeance. Lithium stocks were on fire as the short squeeze continued. Uranium stocks sold down as the fizz seemed to have left the building. PLS up another 4.3%, but LTM screaming ahead…
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…
Reporting season winner for the big banks was Westpac (WBC). Up over 7% since reporting as margins fell less than expected. Banks doing rather nicely at the moment. WBC is well overbought on a daily chart. Broker research out this morning is positive which the results described as “sound” and “solid”. The company beat estimates…
Reporting season theme is CONTROL.
Added DXB yesterday – How options work.
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.
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 results season finishes today – we have two new trades in the Idea Portfolio today
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…
