Closing Bell 7th March: Banks lead ASX higher as CBA hits record
ASX rose 0.2% with tech optimism and rate cut prospects by the Fed. CBA hit record highs, while Westpac and NAB also surged, reflecting bullish banking sector sentiment.
Closing Bell 6th March: Gold Miners on the ASX Surge as Gold Prices Hit New Highs
ASX gold miners experienced significant gains as gold prices soared to record levels, reflecting increased investor interest in precious metals.
Bulls vs. Bears: Bitcoin’s Bullish Blaze Meets Lithium’s Electrifying Escalade
This week’s newsletter, “Bitcoin’s Bullish Blaze Meets Lithium’s Voltaic Venture,” offers an incisive look into the cryptocurrency surge and lithium’s market ascent. Highlighted in Ausbiz’s ‘The Call,’ MPC Markets’ experts dissect pivotal stocks, ETFs, and the market dynamics propelling Bitcoin and lithium to new heights. Insightful analyses cover a spectrum from tech giants to resource leaders, unpacking investment trends and market sentiment.
Closing Bell 28th February: NextDC Leads Tech Surge as Lithium Miners Pilbara, Liontown, and IGO Score Major Gains
The ASX remained stable, buoyed by a tech sector rally led by NextDC’s revenue surge, while declines in communications and mixed results in other sectors balanced the market.
Balanced Portfolio Recommendation: Buy Worley Limited (WOR)
Adding WOR to Balanced Portfolio with a 2% allocation. WOR is a global company headquartered in Australia is a global provider of professional project and asset services in the energy, chemicals and resources sectors. As a knowledge-based service provider, they use their knowledge and capabilities to support the customers to reduce their emissions and move towards a low carbon future.
Balanced Portfolio Recommendation: Buy – Arcadium Lithium Plc (LTM)
Incorporating a 3% allocation to Arcadium Lithium (LTM) within our balanced portfolio represents a prudent investment strategy, given the stock’s attractive valuation relative to its sector peers. This investment opportunity is underscored by LTM’s competitive market positioning and the current undervaluation, suggesting a favorable entry point. Additionally, the stabilization of lithium prices, alongside emerging signs of recovery in the commodity market, indicates a positive outlook for lithium demand. This is particularly relevant in light of the growing electric vehicle and renewable energy markets.
Balanced Portfolio Recommendations: SELL Take Profit Half of Position – Treasury Wine Estate (TWE)
TWE has done very well over the last month and reporting was as expected. We are trimming half the position to lock in profits and looking to get back in if the stock falls.
Alpha Recommendation: Stop Loss Hit- PeopleIn (PPE)
Upon reviewing PeopleIn’s first-half FY24 earnings, we recommend exiting our position. Despite a record revenue of $602.7 million, the company faced a significant decline in profitability, with EBITDA and NPATA down by 37.7% and 34.3%, respectively. This downturn is attributed to a shift towards lower-margin work and a decrease in permanent recruitment, particularly in the tech sector. Although PeopleIn has implemented cost-saving measures, the current financial challenges, exacerbated by tough market conditions, suggest a prudent move to mitigate risks.
Earning Update: Mineral Resources Ltd (MIN)
Mineral Resources reports a robust earnings update with significant revenue growth, strategic leadership changes, and a shareholder-friendly interim dividend, reflecting strong operational performance and future optimism.
Earning Update: Pilbara Minerals Ltd (PLS)
Pilbara Minerals faces a challenging half-year with a sharp revenue drop, countered by strategic expansions and efficiencies aimed at leveraging future lithium market recoveries.
Earning Update: Ebos Group Ltd (EBO)
The company made significant investments for growth, including increasing its shareholding in Transmedic and acquiring Superior Pet Food Co. Ebos’s strategy includes further expansion in Southeast Asia and enhancing its product portfolio through acquisitions and new product development.
Earning Update: Corporate Travel Management (CTD)
A softer than expected 1H revenue and EBITDA result was observed due to two main factors: negative travel sentiment from the conflict in the Middle East and corporate customer budgets being fully utilized by September 2023 due to high ticket prices, particularly in the northern hemisphere. However, an encouraging rebound in January activity implies these issues have dissipated.