Pre-Market Pulse 13th August – Investors take a welcome breather ahead of inflation data
Investors took a welcome breather to start the week as key inflation data is due over the next few days
August 2024
Closing Bell 12th August: JB HiFi rallies to record highs on results. XJO positive as rebound continues
The Australian sharemarket advanced Monday, marking its second consecutive day of gains, driven by strong earnings from JB Hi-Fi amidst a busy week of corporate results. The S&P/ASX 200 Index rose 38.7 points, or 0.5%, to 7816.4, following a Wall Street rebound as global markets stabilize after last week’s significant downturn.
Pre-Market Pulse 12th August – Both Bulls and Bears battered this week as stocks finish close to unchanged
Both bearish and bullish Investors were battered and bruised this week as the recovery in stocks continued following a major selloff earlier this week when concerns about an incoming recession took center stage and a recovery in the latter half of the week left us largely unchanged
Bulls vs. Bears: Episode 30: Buy the Dip?
This week, mega-cap earnings disappoint as investors ask “where’s the revenue”, US economy starts to show cracks and middle east conflict flares up (again)
Market Calendar 12th August – 16th August 2024
Anticipating next week’s company earnings and economic figures.
Stay informed on the latest financial updates and trends with MPC Markets
Balanced Portfolio
Balanced Portfolio: Earnings Season Strategy Coal Sector Relative Value
ResMed Inc.(RMD) pioneer innovative solutions that treat and keep people out of the hospital, empowering them to live healthier, higher-quality lives. Our digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, COPD, and other chronic diseases. and lower costs for consumers and healthcare systems in more than 140 countries.
Balanced Portfolio Recommendation: ADD 2% Challenger Group (CGF)
ADD to Challenger (CGF) into Earnings on the 13th August
Pre-Market Pulse 9th August – Better than expected Labour data hoses down recession fears
Investors breathed a sigh of relief as better-than-feared labor market data cooled worries that a recession may be on the horizon.
Closing Bell 8th August: AMP jumps on better earnings. XJO lower as market tries to find direction
The Australian sharemarket retreated on Thursday afternoon, with the S&P/ASX 200 Index declining 0.3% or 23.4 points to 7676.4. A sell-off in mining and property stocks, alongside a broader market pullback, weighed on the index. The materials sector dropped 1.5%, with BHP Group down 1.9%, Rio Tinto losing 1.8%, and Fortescue Metals falling 0.8% as Singapore iron ore futures slid 1.7% to $US99.2 per tonne. Property stocks were also hit, down 2.3%, as Goodman Group fell 2.5% and Scentre Group lost 1.5%. Mirvac shares plunged 9.5% after forecasting lower FY2025 earnings.
Alpha Recommendation: Sell Andean Silver Limited (ASL)
Andean Silver Limited (ASL, formerly Mitre Mining Corporation Limited) is a mineral exploration and development company in Australia focused on gold and base metals discoveries. The Company holds a 100% interest in the Cerro Bayo Silver-Gold Project and Los Domos Project in Chile
Pre-Market Pulse 8th August – “Buy the dip” sentiment fades fast as risks weigh on markets
Investors enthusiasm to “buy the dip” faded within one session as equites turned lower mid-session in the US on a slump in Super Micro Computer pressured chips stocks, weighing on the broader market.