Search ASX code:
Generic filters

Search ASX code:
Generic filters

Search ASX code:
Generic filters

This year. We're going Beyond.

S&P/ASX 200 morning report – BHP, COH & APT shares in focus

The S&P/ASX 200 (ASX: XJO) is expected to edge higher when the market opens this morning according to the latest SPI futures. Here’s your daily ASX morning report.

ASX 200 lower as mining and financials hit

The ASX 200 fell 0.7% on Tuesday, giving back Monday’s gains on a weaker global lead. Mining, down 1.1%, and financials, down 1.2%, were the biggest detractors as valuations continue to bite.

BHP Group Ltd (ASX: BHP) offered a quarterly production update with iron expanding 8% but all other commodities slowing production as COVID restrictions hit operations. Management has put the expansion of Olympic Dam on hold and continues to seek acquisition opportunities. This was a solid result for BHP and bodes well for the sustained dividend, with full-year guidance now in range. BHP shares finished the day 1.6% lower.

Cochlear Limited (ASX: COH) held its AGM and despite reporting core implant revenue was 6% down on 2019, the market reacted positively, gaining 2.3%. Despite being a high-quality business, Cochlear remains narrower than CSL Limited (ASX: CSL) and hence faces a difficult period if elective surgery remains slow for an extended period.

Afterpay moves into banking, RBA minutes released

The ASX BNPL sector, where Australia is truly a global leader, saw a flurry of news yesterday. Afterpay Ltd (ASX: APT) and Westpac Banking Corp (ASX: WBC) announced a deal that would allow Afterpay users to easily open Westpac savings accounts. The news sent Afterpay shares 4.4% higher and over $100, but the Westpac share price fell 1.4%.

The release of the RBA minutes was the biggest news of the day, highlighting that the bank would focus on actual not expected inflation. This is a huge change in central bank circles, but seemingly common sense to the rest of us. This effectively guarantees that rates will remain lower for at least the next few years, meaning bank net interest margins will remain under pressure.

Elsewhere, Tabcorp Holdings Ltd (ASX: TAH) is feeling the brunt of the Victorian lockdowns as the Spring Racing Carnival nears. The group reported a 5.7% fall in revenue, driven by a 55% fall in spending as its Victorian network has been shuttered. This despite improving online betting and most major sport continuing as planned.

US markets finish higher, Google facing landmark court case

Both the S&P 500 and Nasdaq shrugged off more toing and froing on a stimulus package, with the deadline due today. They finished 0.5% and 0.4% higher respectively.

The news of the day was the US Justice Department’s decision to commence antitrust action against Alphabet Inc’s (NASDAQ: GOOGL) Google Search business. They say the company is using its 90% market share to stifle competition. This has been a long time coming and something I will discuss in today’s Market Thinker’s series with Nick Griffin of Munro Partners. Alphabet stock finished over 1% higher despite the news.

Swiss investment bank UBS (SWX: UBSG) delivered its best quarterly result in a decade, profit increasing 92% to $2.6 billion, albeit off a low base. The result highlighted the huge difference between traditional loan and deposit banks, versus more active investment banks. Netflix Inc (NASDAQ: NFLX) is due to report after the market closes.

Is BNPL the opportunity of a lifetime or is the sector a ticking time bomb?

Rask's analyst has just finished a 7,500-word report, The Ultimate BNPL Sector Report, taking a deep dive into this booming ASX sector. It shines a spotlight on each of the major players. You can get the full analyst report for FREE by CLICKING HERE NOW or entering your email below.

Note: the report is 100% free.

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Is BNPL the opportunity of a lifetime or is the sector a ticking time bomb?

Rask's analyst has just finished a 7,500-word report, The Ultimate BNPL Sector Report, taking a deep dive into this booming ASX sector. It shines a spotlight on each of the major players. You can get the full analyst report for FREE by CLICKING HERE NOW.

Note: the report is 100% free.

Disclosure: At the time of publishing, Drew owns shares of CSL.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Keep reading:

Rask Media’s Ultimate BNPL Sector Report

Afterpay, Zip, Sezzle… is this the opportunity of a lifetime? Or is BNPL a ticking time bomb? This 7,500-word analyst report takes a deep dive into the BNPL sector and shines a spotlight on each of the major players in this booming market. 

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

As we emerge from COVID-19, some tech companies are growing faster than ever. Rask’s investment analysts have identified 3 growth stocks set to benefit. Big time.

Enter your email below to access this report for free, including the names, ticker codes and analysis.

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.