ASX

Australia in rare air, ASX hits another record, Keypath IPO falls flat  The ASX 200 (ASX: XJO) has taken the mantle of overseas markets, hitting another record on Wednesday after moving 1% higher. The energy sector was the biggest contributor with the oil price hitting a two-year high in overnight trading, sending the entire sector up 4%…

ASX falls but 2% higher in May, Macquarie, Magellan looking to the future The ASX200 (ASX: XJO) fell 0.3% on Tuesday, the first day of winter, with consumer confidence taking a hit as the Victorian lockdown rolls on. Every sector was weaker except energy and materials, which added 1.3% and 0.3% respectively. Healthcare and financials were the…

ASX down on energy, PEXA set to IPO, Nuix downgrades again  The ASX200 (ASX: XJO) started the day strongly, hitting a new record before ultimately closing 0.3% lower as energy, down 1.6%, and the IT sector, -0.9% continued to drag. The weakness comes ahead of a huge week for the Australian economy, with the Reserve Bank of Australia meeting…

Last week I spoke with Ryan Legudi, managing director at Salter Brothers Capital to get a better understanding of the upcoming debut of the Salter Brothers Emerging Companies LIC (listed investment company) on the ASX. It is currently slated for a 10 June listing. The firm, headed up by co-founders Paul and Robert Salter, is…

ASX hits new record, ING shocks analysts, Tabcorp offer formalised  The ASX200 (ASX: XJO) hit another record high on Friday, finishing the day 1.2% higher and taking the weekly gain to 2.1%. The records fell as the banking and materials sectors combined to deliver gains. Commonwealth Bank of Australia (ASX: CBA) gained 1.6% on Friday and both BHP Group Ltd (ASX: BHP)…

Here we go again, ASX flat as lockdown begins, Costa Group tanks, AMP sued The ASX200 (ASX: XJO) added just 2.4 points on Thursday after the Victorian Government sent the entire state into another lockdown. The news is expected to hit the economy to the tune of $1 billion but the market remains immune, with the IT sector once…

ASX down as Victoria braces, materials weaker, ALS profit jumps The ASX200 (ASX: XJO) finished 0.3% lower on Wednesday, with the materials and e-commerce sectors leading the fall.  BHP Group (ASX: BHP) and Rio Tinto (ASX: RIO) remain under pressure, falling over 2% each as the hot commodity sector is cooled by increasing supply. The Commonwealth Bank of Australia (ASX:…

Monash Absolute Investment Company (ASX: MA1) has announced that it is undertaking a restructure from shares held in the listed investment company (LIC) into a newly established exchange-traded managed fund (ETMF), to be known as the Monash Absolute Active Trust (ASX: MAAT). Why is Monash doing this? The move from LIC to ETMF will mark…

Wilson Asset Management’s founder Geoff Wilson is gearing-up for a new $225 million listed investment company (LIC) called WAM Strategic Value Limited (ASX: WAR). The listing price will be $1.25 a share. According to the prospectus,  plans are to issue between 13.2 million shares and 180 million shares, depending on demand. The first $125 million would…

ASX overcomes iron ore fall, exports smash records, Victoria on tenterhooks  The ASX200 (ASX: XJO) managed to deliver another 1.0% gain on Tuesday despite the backdrop of what appears to be nine COVID-19 cases in the northern suburbs. Whilst borders are not yet closed, Qantas (ASX: QAN) and Flight Centre (ASX: FLT) weakened in a broadly stronger market. Utilities were the…