Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

The S&P/ASX 200 (XJO) opened higher Monday, here’s what you need to know

The S&P/ASX 200 (ASX: XJO) opened firmly higher Monday morning, up 0.42%.

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

Link’s management team responded to the $5.20 private equity offer indicating it ‘materially undervalues’ the business. They cited an expected recovery in market-focused income, 80% recurring revenue, and the latent value of the PEXA platform. In response, LNK will seek to demerge or IPO the billion-dollar business in a boon for investors; shares finished 0.8% lower.

BlueScope Steel Ltd (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 takes a hit & CCL gets frozen

All eyes were on the US Presidential Debate, with neither combatant seemingly committed any major errors. Markets have seemingly 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 (ASX: QAN) jumping 2.7% on the news despite the Victorian lockdowns costing the group $100 million in the quarter alone. Cleanspace (ASX: CSX), which manufactures respiratory protection material jumps 54% on its IPO as the second wave sees huge demand for its products.

US markets end down

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

It’s just the one takeaway from this week and that is the growing importance of governance from both a public and private market perspective.

The week starting with the investigation into Crown Ltd (ASX: CWN) and the Victorian Government inquiry but expanded into extravagant gifts at Australia Post, excessive expense payments at ASIC, Google’s Antitrust case and questions on in-house investments at Magellan (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.

The Golden Rules of Investing

We might be experts in retirement, but with combined financial advice experience of 35+ years, we’ve nearly seen it all. 

In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

In this free report, we outline the key principles that determine all of the portfolio construction and investment decisions of Wattle Partners. Collated over decades, this paper should be seen as a work-in-progress, constantly under review in light of the ever-evolving nature of markets. 

You’ll find the free report on my Author page. Simply click the button below to view the Golden Rules.

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.


At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.

Powered by

Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

Skip to content