CommSec

Market Close 31 Aug 22: Sluggish end to August

The ASX 200 slipped by 0.16% on Wednesday, with mining and energy stocks holding the market back most. Harvey Norman (HVN), Pointsbet (PBH), Atlas Arteria (ALX) and St Barbara Mines (SBM) released profit results. Woolworths (WES) and Wesfarmers (WES) went ex-dividend. Our market still edged higher by 0.6% in August.

 

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

Executive Series 24 Aug 22: GQG Partners (GQG) CEO, Tim Carver

GQG Partners (GQG) CEO, Tim Carver speaks with Tom Piotrowski about its 1H22 results, Australian operations, ASX listing and factors driving the current market environment. 

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

Morning Report 31 Aug 22: US sharemarkets fell for a third straight session on Tuesday

Job openings posted an unexpected rise in July, underlining expectations of further rate hikes from the Federal Reserve. Investors also digested new comments by three Federal Reserve officials. Shares in Best Buy rose 1.6% on a smaller-than-expected drop in sales. At the close of trade, the Dow Jones index was lower by 308 points or 1.0% . The S&P 500 index fell by 1.1% and the Nasdaq index lost 134.5 points or 1.1%.

 

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

 

Fortescue Metals (FMG) Full Year Result 30 Aug 2022: Profit and dividend decline

Fortescue Metals Group (FMG) posted double-digit declines in its full year revenue, profit and dividend due primarily to rising costs and lower iron ore prices. Offsetting those headwinds were record shipments of the commodity over the year.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

The a2 Milk Company (A2M) FY22 result 30 Aug 22: China sales lift

The a2 Milk Company (A2M) posted double gains in revenue and profits for the full year, helped in part by strong sales in its key China market. While greater competition, a lower birth rate in China, failure to obtain regulatory approval to sell infant formula in the US and higher costs were headwinds, the dairy group declared an on-market share buy-back.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

Market Close 30 Aug 22: ASX 200 bounces back from Monday’s slump

The Australian sharemarket rose by 0.47%, recouping a small portion of Monday’s heavier declines which followed hawkish comments by Fed Chair Jerome Powell late last week. Mineral Resources (MIN), The a2 Milk Company (A2M), Paladin Energy (PDN) and EML Payments (EML) rose most.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

Morning Report 30 Aug 22: US sharemarkets fell on Monday

Investors worried whether aggressive rate hikes by the Federal Reserve would drive the economy into recession. But energy stocks rose 1.5% in response to a higher oil price. Technology shares eased in response to higher interest rates. Shares in Apple fell by 1.4% and Microsoft lost 1.1%. Shares in Bristol Myers Squibb slid 6.2% after its drug candidate for preventing ischemia strokes missed the main goal in a mid-stage trial. At the close of trade, the Dow Jones index was lower by 184 points or 0.6% after being down 311 points earlier in the session. The S&P 500 index fell by 0.7% and the Nasdaq index lost 124 points or 1.0%.

 

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

Market Close 29 Aug 22: Largest fall in 2 months for ASX 200

The Australian sharemarket had its most significant decline in two months, with the ASX 200 sliding by 1.95% after Federal Reserve boss Jerome Powell flagged that aggressive rate hikes would need to continue in coming months and would lift at a ‘forceful and rapid’ pace. The a2 Milk Company (A2M) was one of just four companies to finish higher on the ASX 200, following double-digit growth in annual revenue and profit. Fortescue Metals fell by close to 5% after handing down lower revenue, profit and dividend for the year due mainly to higher costs and lower iron ore prices.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

Morning Report 29 Aug 22: US sharemarkets slumped on Friday

The Fed chair suggested interest rates would be higher for longer. All 11 S&P 500 sectors were lower. At the close of trade, the Dow Jones index was lower by 1,008 points or 3.0%. The S&P 500 index fell by 3.4% and the Nasdaq index slumped by 497.6 points or 3.9%. Over the week the Dow fell 4.2%; the S&P 500 lost 4.0%; and the Nasdaq fell 4.4%.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia  ABN 48 12 12 124 AFSL: 234945 (the Bank) and a  Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this  broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

Zip Co Full Year Result 26 Aug 22: Costs & bad debts rise

Zip Co (ZIP) posted a 57% lift in annual revenues for the 12 months to 30 June 2022, however due mainly to one-off charges and impairments, it recorded a $1.1bn net loss. Customer numbers grew in its core Australia-New Zealand and US businesses, while costs and bad debts also rose.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.