CommSec
Market Close 26 Feb 20: Worst day in 6 months for Aussie shares

Market Close 26 Feb 20: Worst day in 6 months for Aussie shares

February 26, 2020

The Aussie sharemarket slumped by 2.3% on Wednesday, taking the losses this week to ~6%. In just three days almost all the market’s improvements this calendar year have been wiped out on coronavirus concerns. 

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This report is produced by Commonwealth Research based on information available at the time of publishing. We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.

Nine Entertainment Co.’s Half-Year Result 26 Feb 20: Nine Entertainment Co. (NEC) grows its digital business

Nine Entertainment Co.’s Half-Year Result 26 Feb 20: Nine Entertainment Co. (NEC) grows its digital business

February 26, 2020

Nine Entertainment Co (NEC) has reported underlying net profit after tax (NPAT) of $114.3 million, an increase of 5% on this time last year. NPAT including $12 million of specific items fell 41% to $101.9 million while NPAT including the contribution from discontinued operations fell 49% to $87.3 million. Revenue in the period rose 67% to $1.2 billion. This delivered earnings before interest, tax depreciation and amortisation (EBITDA) of $251 million an increase of 41%.

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This report is produced by Commonwealth Research based on information available at the time of publishing. We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.

Woolworths’ Half-Year Result 26 Feb 20: Woolworths’ result boosted by growth across all units 

Woolworths’ Half-Year Result 26 Feb 20: Woolworths’ result boosted by growth across all units 

February 26, 2020

Australia’s largest supermarket chain Woolworths posted a 7.7% decline in half year profit to $887m. Not including one-off costs linked to the de-merger of its drinks business and wage underpayments, revenues and earnings improved. 

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This report is produced by Commonwealth Research based on information available at the time of publishing. We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.

 

Executive Series 24 Feb 20: Nearmap Ltd (NEA) CEO, Dr Rob Newman

Executive Series 24 Feb 20: Nearmap Ltd (NEA) CEO, Dr Rob Newman

February 26, 2020

Nearmap Ltd (NEA) CEO, Dr Rob Newman speaks with Tom Piotrowski about the company’s focused investment strategy in North America, acquisition of Roof Geometry & adoption of 3D/AI premium content.

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This report is produced by Commonwealth Research based on information available at the time of publishing. We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.

Mid-Session 26 Feb 20: Market sell-off continues on coronavirus outbreak fears   

Mid-Session 26 Feb 20: Market sell-off continues on coronavirus outbreak fears  

February 26, 2020

The sell-off continues for local shares on Wednesday with the ASX 200 shedding another 140 points or 2 per cent to 6726 at lunch and making it the third successive session of losses over 100 points. Global markets are tumbling on concerns of the coronavirus spreading outside of China.

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This report is produced by Commonwealth Research based on information available at the time of publishing. We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.

Morning Report 26 Feb 20: Stocks plunge as US braces for spread of Coronavirus

Morning Report 26 Feb 20: Stocks plunge as US braces for spread of Coronavirus

February 25, 2020

Global sharemarkets have continued to fall on fears about the spread of the novel coronavirus COVID-19 and its impact on global economic activity. The US Centre for Disease Control warned Americans to prepare for significant disruption to their day-to-day lives. White House chief economic adviser Larry Kudlow claimed that the US has contained the spread of the virus.  

 

In US economic data, the S&P/Case Shiller home price index was flat in December to be up 2.9% on the year (forecast 2.8%). Consumer confidence rose from 130.4 to 130.7 (forecast 132). The Richmond Federal Reserve manufacturing index fell from +20 points to minus 2 points in February (forecast +13). Chain store sales in the past week were up by 5.4% on a year ago, down from the 5.7% annual gain in the prior week.

 

European sharemarkets fell by around 2% on Tuesday to 2-month lows on continued worries about the spread of COVID-19 infections outside China. Banks lost 2.6% and Insurance lost 2.2%. The pan-European STOXX 600 index fell by 1.8%. The German Dax lost 1.9%. The UK FTSE fell by 1.9%. In London trade, shares of Rio Tinto fell by 1.3% and BHP lost 1.6%. 

 

* US sharemarkets fell by around 3% as investors monitored news on the COVID-19 coronavirus. All S&P 500 sectors were lower. With an hour of trade to go, the Dow Jones index was down by 785 points or 2.8% after being up 180 points at the start of trade. The S&P500 index was lower by 2.6% and the Nasdaq lost 210 points or 2.3%.

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank).  The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual.  For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice.  This report is produced by Commonwealth Research based on information available at the time of publishing.  We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness.  To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.

 

Market Close 25 Feb 20: ASX 200 continues to retreat as Coronavirus concerns persist

Market Close 25 Feb 20: ASX 200 continues to retreat as Coronavirus concerns persist

February 25, 2020

Local shares remained under pressure on Tuesday as investors grapple with the economic impact of the coronavirus. One consolation was that the ASX 200 ended off session lows after US stock futures traded higher in after-hours trade.

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This report is produced by Commonwealth Research based on information available at the time of publishing. We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.

Blackmores’ Half-Year Result 25 Feb 20: Higher costs and Coronavirus weigh on Blackmores (BKL) first half results.

Blackmores’ Half-Year Result 25 Feb 20: Higher costs and Coronavirus weigh on Blackmores (BKL) first half results.

February 25, 2020

Vitamin maker Blackmores (BKL) has reported a 46% fall in first half profit to $18.2 million; revenue for the same period fell 5% to $303 million. Earlier this month, the 12th of Feb, BKL lowered its profit forecast and said it would not pay an interim dividend, rather the cash will be ‘conserved’ to reinvest in the business. The result was in line with the recently revised earnings guidance. 

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This report is produced by Commonwealth Research based on information available at the time of publishing. We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.

Estia Health’s Half-Year Result 25 Feb 20: Estia Health (EHE) profits fall in tough environment for aged care sector

Estia Health’s Half-Year Result 25 Feb 20: Estia Health (EHE) profits fall in tough environment for aged care sector

February 25, 2020

In challenging conditions, aged care provider, Estia Health (EHE) managed a slight lift to first half revenue, reporting a 9.1% increase to 316.1 million. However, net profit after tax (NPAT) fell sharply by 32.1% to 14.3 million while earnings (EBITDA) for mature homes (homes operating over 12 months or >85% occupancy) fell 12.6% to 40.9 million.

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This report is produced by Commonwealth Research based on information available at the time of publishing. We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.

Mid-Session 25 Feb 20: Shares continue to slide on coronavirus concerns

Mid-Session 25 Feb 20: Shares continue to slide on coronavirus concerns

February 25, 2020

The Australian sharemarket has added to yesterday’s declines as fears linked to the economic impact of the coronavirus escalate.

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This report is produced by Commonwealth Research based on information available at the time of publishing. We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.