Site menu

Search by ticker code:
Generic filters


Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

ASX 200 morning report – ORG, AMP & MIN shares in focus

The S&P/ASX 200 (ASX: XJO) managed a small gain despite a volatile day on markets, finishing 0.1% higher on Friday to take the weekly gain to 1%.

2-year ASX 200 chart

Source: Rask Media 2-year ASX 200 chart

Once again the tech sector is leading the way, jumping 4.4% over the week as it appears inflation and interest rate concerns have receded for the time being.

Zip Co Ltd (ASX: Z1P) outperformed, jumping 12.9% with a number of mining companies among the leaders.

Healthcare was next, adding 1.9% and mining 1.5% as the weakening AUD supported global businesses.

The iron ore price hit a new record high, US$211 per tonne despite environmental restrictions hitting demand from Chinese steel mills.

Origin Energy Ltd (ASX: ORG) was the biggest disappointment, falling 8.9% on Friday and 9.7% for the week after cutting earnings guidance from $1.0 billion to $940 million following an ‘adverse and unexpected’ contract price review on its supply deals with Beach Energy Ltd (ASX: BPT); BPT jumped 4.6% on the news.

Meanwhile, AMP Ltd (ASX: AMP) fell 2.5% to a new record low as the difficulty of breaking up its business becomes more clear.

AMP share price chart

Source: Rask Media 10-year AMP share price chart

The Chinese economy reported the strongest growth rate on record, jumping 18.3% compared to the same time last year, but the headline data has hidden quarterly growth of just 0.6% for March, among the weakest in several decades.

In other news, Mineral Resources Limited (ASX: MIN) handed in its March 2021 quarterly activities report, noting problems with its iron ore shipments. Mineral Resources shares finished the day 5.3% lower.

To end on a positive note, Eagers Automotive Ltd (ASX: APE) jumped 2.4% after the car dealership group revealed its profit is racing higher.

Looking ahead, the ASX 200 is tipped to open 0.5% higher on Monday according to the latest ASX futures.

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.

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

Powered by

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

Skip to content