ASX 200 slipped from strong early gains to close up 29 points at 7056 (+0.4%) as geopolitical events hang and RBA minutes show RBA thought about a rate rise. Plenty of green on screen today with the Big Banks doing well, CBA up 0.5% and the Big Basket Basket up to $177.81 (+0.7%). Insurers rallied, with…
SMALL CAP PORTFOLIO 3.00pm Updates I have added a 3% holding in GMD at 140.5c despite the move to tidy up the DCN register with its bid this morning. Plenty of chatter on LTR and what it all means. As members will know I had been advocating taking the 300c and running. Maybe having a…
DIARY NEXT WEEK The main events this week are Corporate, not economic. We have the AGM season in Australia underway, and now the Quarterly production numbers from the resources sector. The US Results season continues – Calendar HERE. RBA meeting minutes on Tuesday morning. The odds of an RBA rate rise at the November meeting are at 45%. UK Unemployment…
Not much joy overnight. This week has seen the ASX 200 +16, +70, +47, +2 and then minus 40. SPI Futures are down 30. The ASX 200 was up 101 points (+1.41%) this week. The Middle East escalates. The energy sector was the best performing sector +2.3%, as the oil price jumped 5%. Airlines down.…
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 YoY remained unchanged at 3.7%, although higher than expectations of 3.6%. Monthly Core…
SMALL CAP PORTFOLIO Let's be extra careful out there today! SUMMARY There is something rotten in the state of Denmark! Why CSL and RMD are on the nose. Is GLP-1 bigger than AI? The MGFO punt is paying off nicely. Forager showing a way forward. US CPI. More normal rates for longer. Sticky Fingers. Thoughts…
Turnover day – Not sure you take much interest in the technical signals today as the four-day trend comes to an end. Not a lot of technical signals anyway as the market bounce drops away. This is the ASX 200 – will the new trend end? Likely.
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.
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…
