The COB from ausbiz

The ASX 200 closed down 0.07% led by tech and industrials. Futures were also up which, depending on whether you think the election result will be contested or not, was due to the tech sector breathing a sigh of relief at the prospect of a Trump win or hedge funds unwinding trades in anticipation of a contested result. The AUD jumped to US72.2cents this morning before dropping more than 1.5% this a...

The energy sector surged 5.3% due to a pop in crude prices and Beach Energy's (up 7.4%) purchase of Senex's Cooper Basin assets. Property (up 2.7%), gold (up 2.6%) and consumer discretionary (up 2.5%) were also strong gainers. So, strap yourselves in for tomorrow's US Election. We have a host of expert commentators joining us, in the US and locally, to analyse the results and what they mean f...

AMP closed at a three-month high as the Ares valuation came in higher than originally thought, at $6.4 billion, while Westpac closed down 1% after its half-year result raised some concerns around ongoing profitability. Meanwhile, ANZ and NAB finished up 2.3% and 1.2% respectively. Our top three VODs today are: See CSR in a new light Westpac won't bounce back like ANZ or NAB The case against virtua...

A very choppy day in what looks like being the norm until the outcome of the US election is locked in. Energy and financials led the gainers this session, while tech, industrials and consumer discretionary were down. Our top three VODs are: Resmed CEO: There's no slow down in our business Mobility is the green light for growth Fluence building a bridge to the future in Ivory Coast Hosted on Acast....

ANZ closed down 2.1% after releasing full-year results today. We spoke with CEO, Shayne Elliott, who said the bank had not lost a single dollar to Covid-19 and loan deferrals were dropping at rate that was "staggeringly good". Out-of-session US futures are up 1.1%, indicating that some of last nights losses may be reversed tonight. Our top three VODs today are ANZ CEO Shayne Elliott: "Not a dollar...

The ASX 200 clawed its way up to a 0.1% gain with the Aussie market following the international trend to a reversion to lockdown market dynamics. This despite our communities being wide open in comparison to many other countries. Tech led the gainers today (up 3%) with consumer staples also performing strongly. Consumer discretionary also bounced back with Temple and Webster up 8.4%. And a bi...

It was all downhill for the ASX 200 today after it followed Wall St's 2% drop overnight. Tech, energy and consumer discretionary led the falls with gold also heavily sold. Here's an ausbiz factoid: ETFs is the third most followed topic by our app users. So, tomorrow's edition of The Call with Kochie will be an ETF special! Kochie will be joined by Andrew Wielandt from DP Wealth Advisory...

Buy-now-pay-later and e-commerce stocks all got a reality check today after the recent surges. A takeover offer from Coke Europe pushed Coca-Cola Amatil up more than 16%, with the local board backing the deal. Westpac's announcement that its earnings would take a $1.2 billion hit from a raft of writedowns and the costs of defending its anti-money laundering case only had a marginal effect on...

The ASX 200 bounced back from a mid day drop, but still closed down 0.11% in what has been a strong month so far. Perhaps surprising, given the amount of uncertainty out there and the fact that October is traditionally a pretty weak month. Miners and tech were down today while energy and banks led the gainers. Seems to be some excitement coming into the banking sector with the prospect of mor...

OZ Minerals hit a nine-year high today thanks to an impressive quarterly update, as well as the surging copper price. Meanwhile, Australia Post CEO, Christine Holgate, has been forced to stand aside while an investigation is conducted into four senior employees being given $3,000 Cartier watches as bonuses. A lot cheaper than Ahmed Fahour's $10.8 million golden handshake. Our top three VODs today...

The higher AUD (up around 0.5% during the session) may have played a role today, providing some headwinds for the offshore earners. Our Stock of the Day, Temple and Webster, was slammed today - closing down 17% despite reporting earnings up 138% for the quarter. Clearly, the market thought the recent run-up in the share price was a bit too optimistic. Our top three VODs today are: Chris Wheldon in...

What started as a great week yesterday ended with a whimper today as the ASX finished down half a percent following an impasse on stimulus between U.S. lawmakers. Afterpay and Westpac struck a deal to share data while CSL provided investors with an update on its COVID vaccine and plasma plans. The dollar moderated as the Reserve Bank of Australia gave its strongest hint yet that a Novemb...

While China's third quarter GDP was a miss in terms of the major economic data point of the day, investors were more attuned to the Chinese consumer and news overnight that Pfizer had started production on its long awaited vaccine while it completes stage three trials. Yes, markets are praying for a vaccine that will provide hope for a return to normal living in 2021. The ASX finished strongl...

Bit of softness today but a reasonable performance considering the rout in Europe last night. The ASX 200 closed down 0.5% led by the miners, banks and CSL. Rio Tinto's third-quarter production results were lower than expected despite the company re-affirming iron ore guidance. Production at Juuken Gorge has been down considerably since the destruction of the Aboriginal sacred sites. We've have a...

RBA Governor, Philip Lowe, strongly hinted at a November rate cut today, which the markets have already largely priced in anyway. The market reacted positively to the dovish speech, which also focused on job creation, to close up 0.5%. Materials and energy were the big gainers while consumer discretionary, healthcare and finished in the red. September unemployment came in at 6.9%, which was pretty...

The ASX ended its seven-day green streak today, with materials dragging us down due to uncertainty around imports to China. Banks also took a hit after a strong day yesterday. A cracking day for EML Payments, up over 10% after the market clearly loved its investor briefing, which focused on its tech and planned investment. Flight Centre was hosed after a downgrade from Credit Suisse due to weak tr...

A seventh consecutive day of gains for the local market (up 1.04%), but the ASX200 still couldn't hold above the 6,200 resistance level. A bit of downside risk building perhaps? All sectors were up apart from materials, with telcos, tech and financials leading the gains. CBA and TLS held AGMs today with the former vowing to resume its normal payment ratio and the latter saying it would stick to it...

Yet another green day for the ASX 200 - its sixth in a row in fact - driven by banks and tech, primarily BNPL of course. Link Administration (LNK) was the story of the day - up 25% after announcing it has received a $2.8 billion private equity takeover proposal. Whitehaven Coal (WHC) took a 6.7% hit after China indicated that it would limit coal imports from Australia. Watch this space....

The ASX 200 came home strong after mid-day dip, closing up 0.33%. The local market ended the week more than 3.2% in the green, recording its best week in five months. Chinese markets contributed to afternoon positivity - on a tear after coming back from the Golden Week holiday, with the Shanghai Composite up 1.9% and the Hang Seng currently up 0.1%. Our top three VODs are: Turnbull on Budget:...

The ASX 200 finished in the green for the fourth straight day today - up 1.1% - thanks to Frydo's jobs-focused Budget and stimulus hopes in the US. Our friend, Carl Capolingua, says it's the biggest four day increase since 2014. Tech led the way with the index closing up 2.7%. BNPL went on a tear - Z1P up 8.2%, SZL up 3.5%, APT up 2.8% and LBY up 3.3%. Our top three VODs today were: Sezzle's third...

The abundance of measures in last night's Federal Budget to stimulate jobs growth was clearly what the market wanted to hear with the ASX 200 closing up 1.3% after a slow start. Consumer discretionary and consumer staples were the obvious beneficiaries, with both up 1.9%. Macquarie's upgrade of ANZ (up 2.4%) and Westpac (up 2.6%) allowed CBA and NAB to hitch a ride, up 2.2% and 2% respectively. Ou...

Moderate gains today ahead of tonight's all-important budget. Energy was the big winner after a 6% surge in crude prices. Materials were also well supported due to the mega merger of Saracen and Northern Star. IT also had a strong day following a rebound in the NASDAQ. Join us tomorrow for the Federal Budget post-mortem with Australia's leading economic and market commentators... Our top thre...

The ASX bounced back from Friday's losses today, up 2.6% on low volumes, helped by the prospects of a deal finally being done on the US stimulus package and an apparent improvement in the condition of Donald Trump. Also some optimism on the domestic Covid front with NSW recording its 10th consecutive day of zero local transmissions and Victoria reporting no fatalities with nine new cases. See you...

Markets were fairly lacklustre today until Trump's Covid announcement at around 2:50 AEST. The ASX was threatening to drop to fresh multi-month lows but finally closed down 1.4%. Energy was hit the hardest after crude prices slumped more than 4% overnight before extending losses on the Trump news. Have a great weekend. Our top three VODs are: The President has COVID-19 Kazia CEO: "This is the...

Green on the screen today with the ASX 200 up the better part of 1% as optimism abounded around the US fiscal stimulus package. Big day for the iron ore miners after the raw material price jumped 5% on news that Vale suspended production in Brazil. S&P futures up 0.6%, signalling another positive night ahead on Wall St... Our top three VODs are: The media company that "could potentially double...