The COB from ausbiz

In fact, if the market is up again tomorrow it will be the longest winning streak of the year. The All Ords is already up 15.9% for the December quarter and we're not too far off the largest quarterly gain since 1987! With no negative impacts on the immediate horizon and TINA (there is no alternative) still at the party, it's looking like the momentum will continue. Our top three VODs today are: B...

These sector rotations, and rotations out of rotations, will surely be one of the defining characteristics of the market in 2020. The ASX 200 closed up 0.2% at a nine- month high, and the sixth consecutive close in the green, with iron ore surging another 1.3% despite news coming out today that Chinese imports of the commodity had dropped for the second month in a row. Our top three VODs today are...

Rampant Chinese demand and restrictions on supply from Brazil mean prices for the red dirt still have a long way to run, according to the analysts we spoke to today. Consumer staples, energy and tech were also up today while gold, healthcare, communications and utilities weighed. Our top three VODs today are: Tired of big tech? Here's some emerging names to check out In control and going for globa...

News overnight Pfizer would take longer than first expected to roll out its vaccine put a small dampener on markets, but not enough to send them into negative territory. The local market made a 0.28% gain, with the broad-based Asian MSCI lifted above its November 25th high. It was (yet) another big day for IPOs. Nuix went nuts, getting as high as $3.70 above its $5.31 issue price. Maas Group...

A great day for the iron ore miners thanks to the red dirt hitting near seven-year highs on surging Chinese steel production. Fortescue was up 13% to $20.66. Are these valuations justified or is a bit of FOMO creeping in? Time will tell. The energy sector was also up while tech and healthcare dragged. Our top three VODs today are: Three stocks for those avoiding the value vs growth debate An absol...

A better than expected GDP read lifted the ASX 200 marginally to flat close - up 0.03%. The lift in GDP was largely due to an increase in spending on services - the largest sector of the Australian economy. With $100 billion saved by Australians since February, stimulus continuing, vaccine development looking promising and borders opening up, things are looking pretty good for 2021, China risks ex...

The local bourse recovered strongly after a mid-morning dip into the red to close up 1.08%. All sectors were up today, except energy, which was down thanks to OPEC+ dramas and the fall in the oil price overnight. The RBA surprised no one by keeping rates on hold, with the consensus view that they'll remain at 0.10% for some time yet (see Tweet of the Day below from our mate Con Michalakis)... Our...

The local bourse opened strongly but slid lower throughout the day to close down 1.3%. Nevertheless, the gain of around 10% for November was the biggest monthly gain for the market since March 1988 when a Mr Rick Astley had the number one single in Australia. The only sector to finish the day in the green was tech, while consumer discretionary, financials and utilities saw the biggest falls....

A Thanksgiving dip for the ASX 200 with the index closing down 0.53%. Real estate, gold and communications finished in the green while energy, utilities consumer staples weighed. Our Stock of the Day, Bega Cheese jumped almost 12% after announcing it had completed a $400 million cap raise to acquire the local dairy arm of Japan's Kirin Holdings for $560 million. Meanwhile, Treasury Wines dropped 1...

Today's ASX Refinitiv Charity Foundation Trading Day closed with ausbiz's Chairman, David Koch, having the honour of ringing the closing bell. Well done to the ASX for donating today's fees received from cash market trading and nabtrade for donating today's brokerage to the ASX Refinitiv Charity Foundation. A 0.7% dip for the ASX 200 today with something of a re-rotation back into growth name...

A solid day on the local bourse - following a strong lead in from the Dow as it surpassed the "sacred number" of 30,000, as a certain Donald Trump referred to it. The ASX 200 cracked nine-month highs again to close at 6,683.30 (up 0.6%). The local market is currently up more than 12% for November. The question is how much steam does it have left in it? Well, according to most of the analysts we sp...

A bumper day for the local market with the ASX 200 pushing to a nine-month high to close up 1.3% at 6,644.1. The banks went on a tear, with the Big Four all up 2-3%. As our old mate Scutty reminded us today: the banks are a microcosm of the broader economy. So perhaps it wasn't surprising that they benefited from the positivity around vaccines and border openings. Energy and travel names also...

A solid session after the local bourse mirrored the rise in futures this morning and them stalled around midday. We eventually closed up 0.3% at hit a nine month high of 6,561.6, keeping the market on track for its best November in 32 years. Energy, materials and tech led the gainers while financials, industrials, real estate and consumer discretionary and staples were the laggards. S&P future...

After posting gains for most of the day, the local bourse dipped this afternoon to close down 0.1%. The ASX 200 was still up over 2% for the week, the third consecutive weekly gain. Financials, utlilities, health and tech were the leaders while materials, gold, retail and energy lagged. Check out today's edition of The Last Call , with Kochie and the team reviewing the week in markets with Austral...

Futures expiry perhaps playing a small part in the rally. The banks led the way once again thanks to dividends returning, improving housing conditions and overall positivity about economic conditions. The sector closed up the better part of 2%, with tech also performing strongly. Iron ore prices continued to surge on surging Chinese steel production, which unfortunately didn't translate to co...

Everything coming up roses for the banks in terms of positive housing data, stamp duty being abolished in NSW and the RBA's Phil Lowe talking up the housing market as well. CBA up 2.7%, NAB up 2.1%, WBC uo 1.9% and ANZ up 1.2%. Bitcoin hit $18k as sentiment towards crypto goes through a thawing and insto investment increases. The Chinese yuan and Korean won were at their highest levels against the...

The ASX 200 was back with gusto today, spending most of the day above the 6,500 level but only closing up 0.21%. It was off to a healthy start thanks to Moderna's announcement last night that its COVID vaccine has 95% efficacy, which pushed the Dow to a record high. Todays leaders were energy, financials (specifically the banks) while gold, healthcare, utilities and tech were on the nose. Check ou...

A write off for the market today with a glitch at the ASX shutting down equities trading for the day at 10:24am. The exchange says the problem has been rectified and normal trading will resume at 10am tomorrow.  In the 24 minutes of trading we did have today, the ASX 200 was up over 1% after a strong lead in from Wall St, so let's call it a positive session. S&P futures are currently up a...

The gold sector jumped 4.5% on increased uncertainty in the US, while healthcare, tech and materials were also up. Real estate, consumer staples and energy were all down. Don't forget to check out today's edition of The Last Call where Kochie and Kylie interview the boys from Equity Mates. Marcus Padley on whether markets are bound for GFC 2.0 The most investable bank isn't one of the Big Four Aus...

The local bourse followed Wall St's lead today with something of a rotation out of the rotation. The ASX 200 closed down 0.5%. Tech and growth stocks were back in favour while the banks and miners were in the red. Around the region, the Chinese tech names that were hosed yesterday managed to claw back around a third of the losses. The Shanghai Composite is down around 0.2% and the Tokyo TOPIX down...

The rotation to cyclicals continues with the banks, in particular, in favour. CBA was out with its quarterly update and despite Q1 profit down 16%, loan deferrals were down so shares closed up 2.8%. Energy names also had a good day, while gold and consumer discretionary had another rough one. S&P 500 futures are currently up 0.1%.Our top three VODs today are: REITs and their long list of tailw...

It really was a tale of two markets as energy, financials and industrials surged, while the sectors that sustained the market during the pandemic - gold, tech, consumer staples, consumer discretionary - dropped like a Republican's bottom lip. Unibail-Rodamco-Westfield jumped 44% after investors voted down a $5.7 billion cap raise to pay down debt. Our top three VODs today are: The market can only...

Trump's legal threats and last week's talk of a contested result being the worst-case scenario for the market were both disregarded by investors. Materials, communications and tech were the big sector gainers. REA hit a record high of $139.50 after a series of broker upgrades and more positivity around the real estate market. The bulls run on. Our top three VODs today are: The UK has come to play...

What a week. Markets relished US Election gridlock, with tax hikes and regulatory pressure on the tech giants off the table for now. This afternoon, Georgia and Pennsylvania could go either way with an 'non-official' outcome expected any minute. The ASX 200 closed up 0.82%, with consumer discretionary metals and mining leading the gainers. Utilities, tech and healthcare took a hit. Election u...

Election gridlock is being perceived as a positive by markets, with a delay in the implementation of the leftist policies of the Democrats around tax and tighter regulation on the tech giants. The ASX 200 closed up 1.28% today with real estate, healthcare and communications leading the way. Meanwhile, Asian markets also liked the prospect of election gridlock, with the MSCI ex-Japan hitting its le...