AMP

Perth in lockdown, ASX flat for the week, retailers smashed  Perth has entered a ‘snap’ three-day lockdown following another hotel quarantine outbreak. Despite this, the market finished slightly ahead on Friday, 0.1%, and finished the week flat. The highlights over the week were Megaport (ASX:MP1) and Monadelphous (ASX:MND), which jumped 10.5% and 8.6% respectively. All attention has been on a number…

AGL CEO had enough, Brambles keeps shipping, markets break losing streak  The ASX200 (ASX:XJO) broke a two-day losing streak, shooting 0.8% higher as business conditions and investment intentions hit their highest level in 27 years. The energy and IT sectors were the main laggards, with energy falling 0.6% as India reported the highest number of new cases…

Market down as Brisbane locks down, AGL to split, USD rallies  The ASX200 (ASX:XJO) finished 0.9% lower after the Queensland Government announced a lockdown amid surging virus cases in Brisbane and surrounding areas. The retail sector was hit hard, falling 1.4%, as the likes of Flight Centre (ASX:FLT), -1.8% and Webjet (ASX:WEB), -2.0%, were hit with cancellations of Easter travel plans. The…

Brisbane lockdown hits ASX, Afterpay (ASX:APT) falls to three month low, travel stocks struggle The ASX200 (ASX:XJO) gave up a strong opening on US stimulus, ultimately finishing 0.1% lower after the Queensland Government announced a three-day lockdown of the city after community transmission of the UK COVID-19 variant was confirmed. The retail sector fell on the news, with Webjet (ASX:WEB)…

Buy – Adore Beauty (ABY) ABY has struggled since listing, with its inaugural half year result disappointing investors with a lack of guidance.  While we weren’t participants in the IPO, we see value for investors at current prices with Adore trading at a discount other single-category, online retailers like Temple & Webster (TPW) and Redbubble…

Telstra (ASX: TLS) – Shares closed the day +2.5 per cent on the back of a reasonable result and a series of amended growth targets. CEO Andy Penn delivered a result which was in line with guidance despite a fall in underlying earnings of 14.2 per cent to $3.3 billion. Similarly net profit fell 2.2…

Market falls flat, Telstra (ASX:TLS) affirms dividend, AMP (ASX:AMP) offer pulled The ASX200 (ASX:XJO) fell 0.1% on Thursday as reporting stepped up another level. The IT sector fell 2.1% giving up recent gains, whilst Woolworths (ASX:WOW) fell 0.9% sending the consumer staples sector lower as the rotation into more cyclical sectors continued. AMP (ASX:AMP) was a major detractor, falling 11.0%,…

Macquarie Investment Management is now a bigger manager than AMP Capital – and the outlook for the respective stocks appears to reflect that ranking. Macquarie Investment Management has taken AMP Capital’s crown as the largest Australian-owned manager of Australian assets, moving to $125.7 billion in assets in the year to September 2020, according to the…

As 2020 came to a close, I attended AMP Capital’s 2020 review and outlook for 2021, titled From Pandemic to Recovery,” at which the star speakers were the firm’s chief economist, Shane Oliver, and senior economist, Diana Mousina. Oliver began by acknowledging that 2020 “had certainly been an unprecedented year for Australia and global markets,…

Turnaround: markets look past recession to the future, AMP in hot demand, another positive lead ahead The ASX 200 (ASX:XJO) staged a remarkable recovery, adding 1.8% even as we received confirmation that the economy had contracted by 7% in the June quarter. The rally was broad-based with industrials and materials improving on the back of…