Australian Market Outlook - 5 August 2021
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Australian Market Outlook - 5 August 2021 On Wednesday, Australian equities hit a new high, lifted by The Federal Reserve has stated repeatedly that it will keep miners as iron ore prices surged, while Afterpay shares purchasing Treasury and mortgage-backed securities at stalled after a two-day run of outstanding gains. $US80 billion ($108 billion) and $US40 billion per month, respectively, until “substantial further progress” is made Australian markets eked out modest gains as higher iron toward achieving full employment. ore prices helped lift miners. The benchmark S&P/ASX 200 Index edged up 28.70 points, or 0.4 percent, to 7,503.20, Afterpay's $39 billion acquisition with Square has prompted while the broader All Ordinaries Index ended up 28.20 caution from Westpac. points, or 0.4 percent, to 7,778.70. The bank will look into the strategic rationale for offering Rio Tinto, BHP Group, and Fortescue Metals Group all saw Afterpay clients with white-labeled bank accounts at the their stock prices rise between 1.6 and 2.7 percent. same time Square pushes up SME lending in Australia — something Afterpay has never been interested in doing. Afterpay declined 0.9 percent, capping a two-day strong run in which it gained roughly 33 percent after supporting The International Olympic Committee (IOC) will receive Jack Dorsey's payments startup Square in a $29 billion more than $US4 billion ($5.4 billion) in broadcasting rights takeover. for the time between the 2018 Pyeongchang Winter Olympics and the 2020 Tokyo Olympics, with the majority of Zip Co Ltd fell 0.6 percent, and Sezzle rose 1.4 percent, as the money going back into the Games and supporting sports did its smaller purchase now, pay later peers. and athletes. The so-called "Big Four" banks in Australia increased by The High Court has bolstered firms' ability to define 0.3 percent to 1.03 percent. employment by contract, overturning a landmark "double dipping" judgement that meant regular casuals were entitled Energy stocks rose 0.9 percent, driven by Woodside to paid leave, putting corporations at risk of a $39 billion Petroleum Ltd, the world's largest independent gas backpay bill. producer. Scarborough's estimated costs are expected to rise by 5%, according to the firm. Top Gainers Top Losers Company Last Price Change% Company Last Price Change% Nuix Ltd. $2.65 3.92% Chalice Mining Ltd. $7.04 -2.49% James Hardie Industries $47.66 3.16% EML Payments Ltd. $3.66 -2.01% PLC Unibail-Rodamco- $5.90 2.97% Pilbara Minerals Ltd. $2.02 -1.94% Westfield SE CDI Kogan.com Ltd. $11.06 2.88% Netwealth Group Ltd. $15.32 -1.79% carsales.com Ltd. $22.43 2.40% RedBubble Ltd. $3.35 -1.76% Australian Market Outlook - 5 August 2021 Disclaimer and General Advice Instructions: This document is provided by Laverne Securities Pty Ltd T/as La Verne Investing the Corporate Authorized Representative No. CAR No. 001269781 of La Verne Capital Pty Ltd AFSL 482937. The Research Analyst who prepared this report/article hereby certifies that the views expressed in this document accurately reflect the analyst’s personal views about the Company and its financial products. The information provided in the Report/Article is provided by Morningstar and FactSet. La Verne Fund is not a fund manager, however, the portfolio and the document is for general advice only, prepared by the Analysts and Research team for our clients. This report/article have Different Assumptions, Views, Analytical Method of the analyst with no guarantee of reliability and accuracy of the content. The Research Analyst has not been, is not, and will not be receiving direct or indirect compensation for expressing the specific recommendations or views in this report/article. La Verne Securities has its own Research methodology, with regards to the rating and is confirmed by the team for long term Strategic rating of the concerned security as an Investment for Portfolios with High Growth High Risk Profile. Individual Stock is Speculative and of High Risk in nature and strongly This Document is provided for the Advisors, their Clients, and Financial Professionals for information only and should not be considered an offer or solicitation of an offer to buy or sell a particular security or financial product or instrument. The information or services provided in this report/article may not be suitable for you and we strongly recommend taking the advice of your Financial Planner or Investment advisors. Laverne Investing will not treat the recipients as its customer by virtue of their receiving the report/article and should seek the advice of their consultant, prior to making any investment decision considering this report/article.