Site menu

Search by ticker code:
Generic filters


Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

ASX 200 set to rise – ANN, ORG & ARB shares in focus

The S&P/ASX 200 (ASX: XJO) wasn’t able to capitalise on the strong finish in the US on Friday, continuing to underperform the world’s largest market by falling 0.2% on Monday.

Financials were the biggest detractor, dropping 1.8% with the likes of Commonwealth Bank of Australia (ASX: CBA) and Macquarie Group Ltd (ASX: MQG) falling 2% each.

The rally was squarely in the beaten-down ASX technology and retailing sectors, up 3.7% and 1.3%, with Zip Co Ltd (ASX: Z1P) and Block Inc (ASX: SQ2) jumping 7.5% and 8.1%, respectively.

Ansell tanks on downgrade

But all eyes were on ‘blue chip’ healthcare product supplier Ansell Limited (ASX: ANN), with shares tanking by more than 14% after delivering an earnings downgrade.

Supply chain disruptions and challenging comparables for disposable glove sales were central to the downgrade. Earnings are now expected to be between $1.25 and $1.45 per share, down from $1.75 to $1.95 for the financial year.

Margins are also coming under pressure from higher manufacturing and input costs and broadly weaker demand.

Featured video: Owen’s 5-part market crash checklist

Origin delivers strong quarter

Shares in Origin Energy Ltd (ASX: ORG) gained 1.6% after the group reported that three shipments were made from its APLNG project, benefitting from the soaring LNG prices available in Asia; five more are expected in the March quarter.

The result was a 33% jump in sales to $2.25 billion, sending first-half revenue up 91% on the previous year and setting the company up for a strong year.

The average LNG price realised surged to US$11.80 MMBTU, still well below the US$28 prices available in North Asia but a near doubling of domestic prices. Production increased by just 2%.

Meanwhile, shares in BHP Group Ltd (ASX: BHP) fell 1.2% despite the iron ore price once again moving above US$150 per tonne as the Chinese are expected to ramp up steel production post the Lunar New Year celebrations.

ARB improves despite car shortage

ARB Corporation Limited (ASX: ARB) has been able to overcome a shortage of new cars to report a 26% increase in sales compared to 2021’s record level, hitting $359 million for the first half.

Profit is expected to be between $90 and $92 million, with improved inventory levels and strong customer orders both contributing. The ARB share price charged nearly 8% higher on the news.

Elsewhere, struggling hedge fund manager VGI Partners (ASX: VGI) is set to merge with small-cap specialist Regal Investment Fund (ASX: RF1).

ASX 200 today

Looking ahead, the ASX 200 is tipped to open higher this morning, following a positive lead from US markets overnight.

All three US benchmarks pushed higher, with the Nasdaq the standout, jumping 3.4%. To find out more, check out my US stock market report.

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 Co.

Powered by

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

Skip to content