News

Miners push ASX higher, iron ore hits seven year high, Macquarie (ASX:MQG) on the hunt The ASX200 (ASX:XJO) added 0.4% on Thursday almost entirely on the back of the iron ore and mining sectors.  Fortescue Metals (ASX:FMG) and BHP Ltd (ASX:BHP) were the leaders adding 13.3% and 4.9% respectively after the price of iron ore surged to…

Choppy day for ASX200, recession is over, Pfizer (NYSE:PFE) vaccine approved in UK, soft open ahead It was a mixed day for the ASX200 (ASX:XJO), rallying strongly at the moment, falling 1% during the day but ultimately finishing flat. The materials sector was one of the few bright spots, with BHP Group (ASX:BHP) and Rio Tinto…

Australia-China relations took another turn for the worse following China’s refusal to apologise for posting a controversial image. This grotesque illustration depicts a ‘photoshopped’ Australian soldier holding an Afghan child’s throat. The image was shared on social media by a spokesperson for the Chinese Foreign Ministry after proof was found that 39 civilians and prisoners…

You have to feel for Treasury Wine Estates, Australia’s largest wine company, the maker of well-known brands such as Penfolds and its iconic Grange label, Wynns, Seppelt, Wolf Blass, Pepperjack and Lindeman’s. After starting the year at just over $16, Treasury Wine Estates had moved nicely to $17.70 – then the COVID-19 pandemic stripped its…

ASX overcomes weak start, interest rates on hold, Santos (ASX:STO) to be net zero carbon by 2040, strong open ahead Every sector on the ASX finished higher to start December, the ASX200 (ASX:XJO) adding 1.1% with consumer discretionary and financials the highlights.  APRA released a scathing review of Westpac Bank’s (ASX:WBC) internal culture, but the…

As it stands the ASX’s November 2020 performance could be the best in over 50 years. It seems impossible when you consider the state of the ‘real economy’ which is effectively on Government life support following enforced economic lockdowns. Such has been the strength of the recovery that estimates suggest the ASX now trades on…

ASX falls but adds 10% in November, Treasury Wine (ASX:TWE) drained but Chinese economy improving The ASX200 (ASX:XJO) dropped 1.3% to finish the month as markets digested the more aggressive approach taken by the Chinese on Friday.  All sectors but IT fell with utilities and consumer discretionary the hardest hit on export concerns.  Despite the…

ASX staring down best month since 1998, Treasury Wine (ASX:TWE) corked by China, but iron ore immune The ASX200 (ASX:XJO) finished higher for the fourth straight week adding 1.0% despite falling 0.5% on Friday. The vaccine-led recovery means the index is sitting on the best gain in over 30 years whilst leading our global peers having now controlled…

ASX rally slows, Origin Energy (ASX:ORG) confirms outlook, Bega Cheese (ASX:BGA) with a big buy, ASX to open lower The ASX 200 (ASX:XJO) end its winning streak following the weaker economic news from the US, the market falling 0.7% on Thursday as traders seemed to be tiring.  It was those sectors and companies that have performed strongest…

More of the same, 2020 ASX losses evaporate, Harvey Norman (ASX:HVN) falls on strong profit, US markets pointing to flat open The ASX200 (ASX:XJO) weakened throughout the day finishing 0.6% higher, but has now overcome all losses sustained in 2020 and is on track for the best November in several decades.  The sustained recovery on…

The Dow Jones was the latest index to join the all-time high club in 2020, breaching 30,000 points this week. Despite being owned by Standard & Poor’s the index is regularly seen as the poorer cousin of the S&P 500 or tech focused Nasdaq Composite. Why is that the case? Despite being around since 1896…

Rhinomed (RNO, 17.5 cents)Market capitalisation: $44 millionThree-year total return: +4.1% a yearAnalysts’ consensus valuation: n/a The Melbourne-based Rhinomed is a specialist in respiratory airway technology: it is a world-leading developer of nasal devices made from ultra-soft medical-grade bio-compatible polymers, that helps the volume of air travelling through the nose. The company has brought to market three kinds of…