AMP

Falling out of the headlines surrounding AMP this week was the low-key decision for the group to shut its Dynamic Markets Fund and ETF (former ASX code DMKT). Established in 2000 and managed exclusively by Nader Naeimi for the last five years, the strategy struggled to gain traction, and assets, due to persistent underperformance. At…

ASX stagnates at 7,000, Tabcorp receives another bid, Bingo deal approved  The ASX200 (ASX:XJO) remains stubbornly anchored to the 7,000 point level, falling 0.2% on Tuesday as most sectors were once again hit by the threat of increasing inflation. The materials sector was the biggest positive contributor, with the likes of BHP Group (ASX:BHP), Rio Tinto (ASX:RIO), and Fortescue Metals (ASX:FMG) all adding 1%…

Perth in lockdown, ASX flat for the week, retailers smashed  Perth has entered a ‘snap’ three-day lockdown following another hotel quarantine outbreak. Despite this, the market finished slightly ahead on Friday, 0.1%, and finished the week flat. The highlights over the week were Megaport (ASX:MP1) and Monadelphous (ASX:MND), which jumped 10.5% and 8.6% respectively. All attention has been on a number…

AGL CEO had enough, Brambles keeps shipping, markets break losing streak  The ASX200 (ASX:XJO) broke a two-day losing streak, shooting 0.8% higher as business conditions and investment intentions hit their highest level in 27 years. The energy and IT sectors were the main laggards, with energy falling 0.6% as India reported the highest number of new cases…

Market down as Brisbane locks down, AGL to split, USD rallies  The ASX200 (ASX:XJO) finished 0.9% lower after the Queensland Government announced a lockdown amid surging virus cases in Brisbane and surrounding areas. The retail sector was hit hard, falling 1.4%, as the likes of Flight Centre (ASX:FLT), -1.8% and Webjet (ASX:WEB), -2.0%, were hit with cancellations of Easter travel plans. The…

Brisbane lockdown hits ASX, Afterpay (ASX:APT) falls to three month low, travel stocks struggle The ASX200 (ASX:XJO) gave up a strong opening on US stimulus, ultimately finishing 0.1% lower after the Queensland Government announced a three-day lockdown of the city after community transmission of the UK COVID-19 variant was confirmed. The retail sector fell on the news, with Webjet (ASX:WEB)…

Buy – Adore Beauty (ABY) ABY has struggled since listing, with its inaugural half year result disappointing investors with a lack of guidance.  While we weren’t participants in the IPO, we see value for investors at current prices with Adore trading at a discount other single-category, online retailers like Temple & Webster (TPW) and Redbubble…

Telstra (ASX: TLS) – Shares closed the day +2.5 per cent on the back of a reasonable result and a series of amended growth targets. CEO Andy Penn delivered a result which was in line with guidance despite a fall in underlying earnings of 14.2 per cent to $3.3 billion. Similarly net profit fell 2.2…

Market falls flat, Telstra (ASX:TLS) affirms dividend, AMP (ASX:AMP) offer pulled The ASX200 (ASX:XJO) fell 0.1% on Thursday as reporting stepped up another level. The IT sector fell 2.1% giving up recent gains, whilst Woolworths (ASX:WOW) fell 0.9% sending the consumer staples sector lower as the rotation into more cyclical sectors continued. AMP (ASX:AMP) was a major detractor, falling 11.0%,…

Macquarie Investment Management is now a bigger manager than AMP Capital – and the outlook for the respective stocks appears to reflect that ranking. Macquarie Investment Management has taken AMP Capital’s crown as the largest Australian-owned manager of Australian assets, moving to $125.7 billion in assets in the year to September 2020, according to the…