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This year. We're going Beyond.

S&P/ASX 200 morning report – LNK, QAN & BSL shares in focus

The S&P/ASX 200 (ASX: XJO) is expected to open higher on Monday according to the latest SPI futures. Here’s your daily ASX morning report.

Another negative week for the ASX, Link undervalued

The ASX 200 finished 0.1% lower on Friday, keeping the index in negative territory for the week, down 0.2%. The IT sector was the highlight, adding 1.8%, behind strength in Afterpay Ltd (ASX: APT), Zip Co Ltd (ASX: Z1P) and Link Administration Holdings Ltd (ASX: LNK).

The Link share price finished the week 22.8% higher after the company received an unexpected takeover bid. On Friday, management responded to the $5.20 private equity offer, indicating it ‘materially undervalues’ the business. Management cited an expected recovery in market-focused income, 80% recurring revenue and the latent value of the PEXA platform. In response, Link will seek to demerge or IPO the billion-dollar business in a boon for investors; shares finished 0.8% lower on Friday.

BlueScope Steel Limited (ASX: BSL) was the highlight of the day, jumping 10.9% after announcing a 30% increase in earnings in the first half of 2021 to $340 million. Demand and pricing in Asia has been a particular highlight.

Qantas earnings hit, who won the debate?

All eyes were on the US Presidential Debate, with neither combatant seemingly committing any major errors. Markets appear to have priced in a Biden election win but given the history of polling in recent elections, investors should be wary and avoid making significant changes until the outcome is clear.

The Australian National Cabinet, excluding Western Australia, agreed to the reopening of borders by Christmas, with Qantas Airways Limited (ASX: QAN) shares jumping 2.7% on the news despite the Victorian lockdowns costing the group $100 million in the quarter alone.

CleanSpace Holdings Ltd (ASX: CSX), which manufactures respiratory protection material, jumped 54% on its IPO as the second wave sees huge demand for its products.

Negative week for US markets, governance in focus

It was another negative week for global markets, the S&P 500 and Nasdaq falling 0.5% and 1.1%, respectively, despite 0.4% gains on Friday.

Intel Corporation (NASDAQ: INTC) fell over 10% despite beating analyst estimates to report US$4.3 billion in profit in the third quarter. Concern remains about its manufacturing process and fast falling market share to competitors, including NVIDIA Corporation (NASDAQ: NVDA).

It’s just the one takeaway from the week and that is the growing importance of governance from both a public and private market perspective. The week started with the investigation into Crown Resorts Ltd (ASX: CWN) and the Victorian Government inquiry but expanded into extravagant gifts at Australia Post, excessive expense payments at ASIC, the Alphabet Inc (NASDAQ: GOOGL) antitrust case and questions on in-house investments at Magellan Financial Ltd (ASX: MFG).

ESG has been used heavily as a marketing tool in recent years but not strictly applied. Now with a great deal of pain across the Australian and global economy, consumers, investors and super fund members will likely be applying a blowtorch to companies that don’t meet community expectations.

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.

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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 Link Administration and Zip Co.

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.

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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. 

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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.

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