macquarie

They’ve lived since the time of the dinosaurs. But the outlook is grim for Tasmania’s Maugean skate.

Welcome to The Hydrogen Podcast!

In episode 212, Nel announced his big plans in Michigan, and money week talks adventurous hydrogen investment opportunities. I'll go over all of this on today's hydrogen podcast.


Thank you for listening and I hope you enjoy the podcast. Please feel free to email me at info@thehydrogenpodcast.com with any questions. Also, if you wouldn't mind subscribing to my podcast using your preferred platform... I would greatly appreciate it. 

Respectfully,
Paul Rodden


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NEW TO HYDROGEN AND NEED A QUICK INTRODUCTION?
Start Here: The 6 Main Colors of Hydrogen

Wall Street slipped on Thursday to close lower as another piece of economic data was released coming in stronger than expected. For the month of January, US PPI or producer price index rose 0.7% MoM which is the highest growth in 7-monthsand much higher than market forecasts of 0.4%. Goods prices jumped 1.2%, the largest increase since June 2022. The data is another sign this week that the Fed’s aggressive rate hike stance has had little effect in slowing economic growth over recent months. US retail sales also rebounded sharply in January with the largest jump in almost 2 years, climbing 3% for the month which easily topped analysts’ expectations and add further support for the fed to keep raising interest rates to cool inflation in the US. The Dow Jones fell 1.26%, the S&P500 lost 1.38% and the tech-heavy Nasdaq dropped 1.78% on Thursday.

Over in Europe markets closed slightly higher after a choppy session on Thursday as investors digest a slew of economic data released this week giving mixed signals about the Fed’s rate hike pathway moving forward. The STOXX600 rose 0.2%, the French CAC touched an all-time high during the session before retreating to close 0.89% higher, Germany’s DAX added 0.18% and, in the UK, the FTSE100 also rose 0.18%.

What to watch today:

• In commodities oil is trading 0.19% lower at US$78.44/barrel, gold is up 0.29% at US$1841.43/ounce and iron ore is up 1.61% at US$126.50/tonne.
• The Aussie dollar is buying US$0.69, 92.22 Japanese Yen, 57.10 British pence and NZ$1.10.
• Ahead of the local trading session the SPI futures are anticipating the local market to open 0.25% lower.
• Stocks going ex-dividend today include Lendlease Group (ASX:LLC) and Macquarie Group (ASX:MQG). If you have been thinking about these stocks it might be worth considering buying in today as stocks going ex-dividend generally trade lower on the ex-dividend date.

Trading Ideas:

• Trading Central has identified a bullish signal on Qantas (ASX:QAN) following the formation of a pattern over a period of 32-days which is roughly the same amount of time the share price may rise from the close of $6.57 to the range of $7.25 to $7.45 according to standard principles of technical analysis.
• Trading Central has identified a bearish signal on NRW Holdings (ASX:NWH) following the formation of a pattern over a period of 68-days which is roughly the same amount of time the share price may fall from the close of $2.80 to the range of $2.41 to $2.49 according to standard principles of technical analysis.

The local market started the week in negative territory, closing the day down 0.25%, ahead of the RBA’s rate hike decision for February out tomorrow, which is the first interest rate decision for 2023. Real estate stocks were the hardest hit today as investors anticipate the impact another rate hike will have on RIET stock balance sheets, with the sector closing Monday’s session down more than 1.6%. 

Furniture retailer Nick Scali (ASX:NCK) tumbled more than 13% today after posting first half results including a 12.1% decline in written sales orders for January 2023, revenue growth of 57.4% and NPAT up 70.2% on the prior corresponding period. Investors may be selling out of the furniture retailer’s shares today after the company failed to provide guidance beyond January, citing it ‘2H FY23 results will depend upon trading during February to April and at this point it is difficult to provide further guidance’, which didn’t impress investors, sparking fears of tougher times to come as interest rates continue rising and consumer spending declines.

Beach Energy (ASX:BPT) shares lifted today after the gas producer released an update on its Waitsia Stage 2 project. The oil and natural gas explorer and producer today said it has reached an agreement with Webuild for the completion of the Waitsia stage 2 project with the Waitsia joint venture and Webuild now targeting first gas by the end of 2023, 6-months later than the original target date, at an increased CAPEX estimate of $400-$450m, up from the original $350-$400. Webuild’s acquisition of Clough, who was originally contracted to complete the Waitsia project, will see a seamless transition for the Webuild team to complete the Waitsia project.

Hot takeover target Warrego Energy (ASX:WGO) rose 3% today after Gina Rinehart’s Hancock Prospecting confirmed it has increased its takeover bid for the company to 36 cents per share from 28 cents per share, to end the bidding war over Warrego with Hancock Prospecting now having a 50.54% stake in the company. The increase in Hancock’s holding was made possible by Hancock partner Mineral Resources selling its shares in Warrego to Hancock for 36 cents per share.

The winning stocks from today’s session were Newcrest Mining (ASX:NCM) adding 9.3% after receiving a takeover offer, Beach Energy (ASX:BPT) rallied 3.7% on the Waitsia update and Incitec Pivot (ASX:IPL) added 3.22%. And on the losing end, Lake Resources (ASX:LKE) led the losses today closing down 6.21% while Sayona Mining (ASX:SYA) fell 5.77% and Core Lithium (ASX:CXO) dropped 5.75% today.

The most traded stocks by Bell Direct clients today were Rio Tinto (ASX:RIO), Newcrest Mining (ASX:NCM) and Macquarie Group (ASX:MQG).

Taking a look at commodities crude oil has recovered this afternoon to trade 0.18% higher at US$73.51/barrel as the International Energy Agency sees China’s economy could be poised for a stronger-than-expected rebound which will boost demand for crude. Coal is down 3.67% at US$236/tonne, gold is up 0.66% at US$1877/ounce and iron ore is up 0.8% at US$126.50/tonne.

The Aussie dollar is buying US$0.69, 91.51 Japanese Yen, 57.26 British Pence and NZ$1.10.

The local market’s green run came to an end today in a muted session as the key index closed just 0.03% lower. A sharp sell-off in materials and utilities stocks offset strong gains among consumer staples and healthcare stocks today. As recession fears increasingly dominate market sentiment, sectors like consumer staples and health care are remaining resilient as these companies traditionally remain strong during a recessionary environment.

Tech retail specialist JB Hi-Fi (ASX:JBH) released Q2 sales results and preliminary half year 2023 results including record sales of $5.28 billion and record earnings of $479.2 million for HY23. The strong performance follows continued elevated consumer demand and operating conditions starting to normalise following two-years of COVID related disruptions. Shares in JB Hi-Fi rallied in morning trade before retreating amid the broader market sell-off today.

Hub24 (ASX:HUB) shares were sold off on Tuesday after the wealth management technology firm released a Q2 update including net inflows for the quarter broadly flat on Q1 but dropping 23.6% to $5.8 billion from record inflows achieved in Q2 of FY22, and down 13.6% for the first half of FY23.

The winning stocks from today’s session were Novonix (ASX:NVX) adding 5.5%, Metcash (ASX:MTS) jumping 2.74% and Johns Lyng Group (ASX:JLG) rallying 2.71%. And on the losing end of the market Imugene (ASX:IMU) tumbling 5.88%, while Capricorn Metals (ASX:CMM) and Regis Resources (ASX:RRL) each fell 5.6 and 4.8% respectively.

The most traded stocks by Bell Direct clients today were ANZ (ASX:ANZ), Macquarie Group (ASX:MQG) and Telstra Group (ASX:TLS).

On the commodities front, oil is trading lower again around US$79/barrel as recession fears continue dominating global market sentiment, while iron ore is also trading sharply lower by more than 4% at US$121.50/tonne as China attempts to cool demand outlook of the commodity. Gold is also down almost 0.4% today at US$1910.58/ounce and coal is only slightly lower at US$370/tonne. Goldman Sachs researchers have said commodities have the strongest outlook of any asset class in 2023 given the perfect macroeconomic environment with critically low inventories for almost every key raw material against surging demand. The year has started with a pullback in prices due to warm weather shock and rising interest rates, however with China coming back online, the yearly outlook for commodity prices is looking up.

Westpac Consumer Confidence data released today showed Aussie confidence rose 5% to 84.3 points for January, which well exceeded market forecasts of a 2.3% decline.

The Australian dollar is buying US$0.70, 89.75 Japanese Yen, 57 British Pence, and NZ$1.09.

The local market snapped a four-session winning streak on Friday, to close 0.87% lower as investors sharply sold off 4% amid a sharp decline in commodity prices, including iron ore tumbling 5.6%.

 BrainChip (ASX:BRN) was the most sold-off stock on Friday, with the world-leading AI on-chip processing and learning technology company tanking 21.2% after releasing a Q3 update, outlining that the $1.5 billion company generated cash receipts of just $118,000 and an operating loss and operating cash outflow of $3.8 million for the quarter. Macquarie (ASX:MQG) shares were virtually unchanged at the closing bell on Friday despite the investment bank releasing strong half-year results including net operating income up 11% to $8.641 billion, profit after tax rising 13% to $2.305 billion and an interim dividend rise of 10% to $3 per share. Total operating expenses also rose though by 13% to $2.305 billion.

 The most traded stocks by Bell Direct clients on Friday were BHP Group (ASX:BHP), BrainChip (ASX:BRN) and Lake Resources (ASX:LKE).

 Overseas on Friday, the US market ended higher after a turbulent week, following the release of Apple’s earnings report that boosted the tech-heavy Nasdaq higher to lead the gains on Wall St. The Dow Jones industrial index added 2.6%, the Nasdaq rose 2.87% and the S&P500 lifted 2.46% on the last trading session of the week. Investor sentiment was also boosted on Friday – investors are optimistic that the Fed may indicate this week that it is preparing to pivot toward a slower pace of monetary tightening.

 In Europe, markets closed mixed after the European Central Bank raised its interest rate by 75-basis points, alongside the release of a number of company earnings reports. The Stoxx 600 closed up just 0.1% while Germany’s DAX added 0.24% and the French CAC climbed 0.27%, but the UK’s FTSE100 fell almost 0.4%. Shell shares fell more than 1.5% on Friday despite the oil and gas giant releasing third quarter results on Thursday including quarterly profits more than doubling from the same period a year earlier.

 What to watch today:

• The ASX is set to open 1.36% higher, following the strong rally on Wall Street that ended the last trading week higher.
• In commodities this morning, crude oil is trading 0.7% lower at US$96.31 per barrel, gold is trading 1% lower at US$1,644 per ounce, iron ore is down 5.6% at US$84 per tonne and gas is trading down 5.8% at US$2.84 per gallon.
• There is no local economic data released today, however local investors will be keenly awaiting the release of the RBA’s interest rate decision out tomorrow at 1:30pm AEDT with the market expecting another rise of 0.25% taking the nation’s cash rate to 2.85%.

 Trading Ideas:

• Trading Central has identified a bullish signal on Auckland International Airport (ASX:AIA) following the formation of a pattern over a period of 27 days which is roughly the same amount of time the share price may rise from the close of $6.82 to the range of $7.13 to $7.21 according to standard principles of technical analysis.
• Trading Central has also identified a bearish signal on Sigma Healthcare (ASX:SIG) following the formation of a pattern over a period of 34 days which is roughly the same amount of time the share price may fall from the close of $0.65 to the range of $0.53 to $0.55 according to standard principles of technical analysis.

US equities closed mixed overnight after new data showed third-quarter GDP grew faster than expected, encouraging investors to buy stocks linked to the health of the economy. The US economy grew at a 2.6% annualised pace for the period, against the Dow Jones estimate for 2.3% growth. The Dow closed almost 200 points higher, while the S&P500 closed 0.6% lower. The Nasdaq also closed lower, down 1.6%, weighed down by Meta. Meta reported weak fourth-quarter forecast and disappointing third-quarter earnings, which saw its share price tumble 25%. 

What to watch today:

• The SPI futures are suggesting the Australian market will drop 0.38% at the open this morning, following the mixed session in New York. 
• In commodities, the oil price is has jumped, underpinned by record US crude exports data. The US exported a record amount of crude and fuel last week, with total petroleum shipments reaching 11.4 million barrels a day. This is even as fuel inventories hit seasonal lows, adding to concerns about tight supply. So keep watch of energy shares today such as Woodside (ASX:WDS) and Beach Energy (ASX:BPT). Meanwhile gold is hovering near the highest levels in two weeks, as the US dollar and Treasury yields retreated, while iron ore is trading in the red, at its lowest in 22 months, as expectations of lower demand continue to put pressure on prices. 
• Macquarie Group (ASX:MQG) will be in focus today, as the investment bank is set to release its half year results. Goldman Sachs expect to MQG to report a cash NPAT of $2,183 million, which is higher than market consensus estimates of $2,157 million. 
• De Grey Mining (ASX:DEG) and ResMed (ASX:RMD) will each be releasing a quarterly report today. 

Trading Ideas:

• Bell Potter maintain a Buy rating on Regis Resources (ASX:RRL) after the company gave a quarterly production update yesterday. Bell Potter have lowered their price target to $2.68, and at its current share price of $1.56 this implies 71.8 share price growth in a year. 
• Trading Central have identified a bullish signal in Lynas Rare Earths (ASX:LYC) indicating that the stock price may rise from the close of $8.34 to the range of $9.05 to $9.25 over 30 days according to the standard principles of technical analysis. 

Investors are steering clear of the real estate sector around the world. Locally, the Aussie share market declined 0.3% this week (Mon-Thu), despite the rally later in the week. Energy stocks took a hit as commodity prices plunged with many seeing a buying opportunity.

 In this week's wrap, Grady covers:

• (0:13) What happened to REIT stocks this week
• (2:59) The ASX dipping to a three-month low
• (3:44) Why energy stocks took a hit
• (4:09) The biggest news on the All Ords this week
• (4:41) The most traded stocks & ETFs by Bell Direct clients 
• (5:09) Two economic news items to watch out for

The Australian market closed Friday’s session sharply lower, down 1.87% with all 11-sectors of the index closing in negative territory, following the Fed’s latest interest rate hike in the US causing investors to flee stocks in favour of cash in markets around the world. The riskier sectors such as consumer discretionary and tech stocks took the biggest hit on Friday, with those two sectors closing the session down 4.44%.

The winning stocks on Friday were New Hope Corporation (ASX:NHC), Whitehaven Coal (ASX:WHC) also extended its green-run of late and Rio Tinto (ASX:RIO) closed Friday almost 2% higher. On the losing side, Block (ASX:SQ2) formerly known as Square fell almost 9% on Friday amid the tech and growth stock sell-off, while Xero (ASX:XRO) and Arena REIT (ASX:ARF) also each lost 7.8% and 6.8% respectively.

The most traded stocks by Bell Direct clients on Friday were Macquarie Group (ASX:MQG), Terracom (ASX:TER) and the Vanguard Australian Shares Index ETF (ASX:VAS).

Overseas, the US markets were sharply sold off on Friday as investors continue responding to the Fed’s latest 0.75% interest rate hike. The Dow Jones closed at a new 52-week low, down 1.62%, the Nasdaq lost 1.8% and the S&P500 fell 1.72%. Bond yields jumped last week around the world as a result of rising interest rates, which signals a warning of market distress as higher bond yields create more capacity for funds that may otherwise go into the stock market. The Bank of England also raised the UK’s interest rate by 0.5% to 2.25% to tackle the UK’s worst bout of inflation in 40-years. As a result, the FTSE100 and UK markets were sold off, with the FTSE100 closing Friday’s session down almost 2%. Germany’s DAX closed the last trading session of the week also down 1.97% and the French CAC took the biggest hit, down 2.28% on Friday.

What to watch today:

• Ahead of the local trading day, markets are expecting a sharp 1.25% decline upon open as investor sentiment is dampened by rising interest rates around the world.
• The stock going ex-dividend today is IMDEX Limited (ASX:IMD), which could be a good opportunity to buy in if you have been thinking about these stocks as stocks going ex-dividend generally trade lower on the ex-dividend date.
• Taking a look at commodities, global recession fears have caused commodity prices to plunge with crude trading at an eight-month low, down 5.7% around US$78.74 per barrel, brent is down 4.15% at US$86.71 per barrel, gold is down 1.6% lower at US$1643 per ounce, while iron ore is up 0.5% at US$101 per tonne.
• There is no economic data released today but US durable goods orders for August is out on Tuesday while New Home Sales data in the US for August is released on Wednesday.

Trading Ideas:

• Trading Central has identified a bullish signal on Technology Metals Australia (ASX:TMT) following the formation of a pattern over a period of 69-days indicating the stock price may rise over this same amount of time from the close of $0.35 per share to the range of $0.48 to $0.52 according to standard principles of technical analysis.
• Bell Potter has downgraded its price target on Catapult Group (ASX:CAT) to $1.10 from $1.00 but maintains a hold rating on the global sports analytics company amid downgraded revenue forecasts over the coming financial years as well as market movements and lower expected top line growth.

The Aussie share market tumbled 3.64% this week (Mon-Thu) partly due to Wall Street’s lead. 336 companies have reported results to the market and we analyse the scorecard. 
 
 In this week's wrap, Grady covers:

• (0:32) How the energy & materials sectors performed in August 
• (2:01) Why investors sold-off REIT stocks
• (2:39) The key takeaways from this reporting season 
• (3:29) The a2 Milk Company (ASX:A2M) leading the gains 
• (4:50) The most traded stocks & ETFs by Bell Direct clients

After wowing audiences at the Royal Albert Hall and The Metropolitan Opera in New York, Australian soprano Helena Dix is back on home soil to sing the challenging title role of Lucrezia Borgia.

Also, Arts Minister Tony Burke is taking submissions and holding town hall meetings across the country to inform the Government's new National Cultural Policy and economist David Throsby and Nyoongar/Yamatji curator Clothilde Bullen share their perspectives on what the arts sector needs right now.

Over the past two decades, our cultural understanding of autism and what it means to be autistic has grown - though we have a long way to go. But there are entire generations of people who grew up when the popular conception of autism was a far cry from how it’s now understood.

It meant a whole host of people who grew up feeling like they didn’t fit in, but never quite knowing why.

They were autistic, but undiagnosed. And when a diagnosis did come as an adult – it was often revelatory and life-changing.

On All in the Mind this week, 'hidden histories’ of late-diagnosed autistic adults.

First broadcast 8 August 2021.

Before we jump into today’s session, let’s have a quick look at what happened in last Friday’s session. The local market surged 1.9%, and despite this being the strongest lift we’ve seen since late January, it wasn’t enough to recover Thursday’s losses, with the market still closing 1.8% lower last week. 

Sectors wise, all the industry sectors were in the green. The tech sector rallied the most, up 7%, and this follows the Nasdaq closing in the green during its Thursday session and a stronger-than-expected result from BNPL company Affirm, which lifted 23% aftermarket.

The best performers were mainly tech stocks. Afterpay-parent Block (ASX:SQ2) led the way, rising 15%, followed by Life360 (ASX:360) which rose 14.3% and PolyNovo (ASX:PNV) which lifted 14%. On the flip side, gold miners like Gold Road Resources (ASX:GOR), Evolution Mining (ASX:EVN) and Newcrest Mining (ASX:NCM) struggled on Friday, after the gold price tumbled.

The most traded stocks by Bell Direct clients last Friday included Macquarie Group (ASX:MQG), CSL (ASX:CSL) and BHP Group (ASX:BHP).

Moving to the US, stocks also jumped higher, helping prevent the S&P500 from tumbling into bear market territory. The Dow rose over 400 points, the S&P500 lifted 2.4% and the Nasdaq surged 3.8%. Despite Friday’s gains, the major averages posted losses for the week.

What to watch today:

• Following the positive session in the US, the SPI futures are suggesting that our local market is set to open 0.8% higher this morning.
• A company to watch today is Goodman Group (ASX:GMG), as the industrial property company is set to release its third quarter update, with the market looking for an upgrade to its guidance, as many brokers believe GMG will outperform its provided FY22 EPS growth of 20%.
• Moving to commodities: 
  • The oil price lifted about 4% on Friday to US$110 a barrel as US gasoline prices jumped to a record high and China seemed likely to ease its pandemic restrictions.
  • The gold price fell more than 1%, following the dollar’s strong run and more aggressive US interest rates on the horizon. 
  • The spot iron ore price traded about 1.2% higher to US$124 a tonne.
• One new company debuting on the ASX today is natural resources company, Southern Cross Gold. It will be trading under the ticker code SXG. 
• Dicker Data (ASX:DDR), Macquarie Group (ASX:MQG) and Autosports Holding (ASX:ASG) are set to go ex-dividend today.

Trading Ideas:

• Citi have initiated coverage on Australian retailer, Universal Store Holdings (ASX:UNI) with a Buy rating and price target of $5.83. Citi sees the company having multiple medium-term growth drivers, including increased store rollout, margin expansion opportunities, as well as increased private brand penetration and direct sourcing. At its current share price of $4.50 this implies about 30% share price growth in a year. 
• Trading Central has a bullish signal on aerial imagery technology company, Nearmap (ASX:NEA) indicating that the stock price may rise from the close of $1.20 to the range of $1.49 - $1.57 in the next 17 days according to standard principals of technical analysis.  

Yesterday, the Aussie share market started the new trading week extending its losses from the previous trading session. 

The benchmark S&P/ASX200 index slipped 1.2%, reaching its lowest level since mid-March. It comes as China intensifies its zero-COVID policy, which in turn has deepened the supply chain crisis. Looking at the sector performances, the market was broadly sold off, with both the real estate and tech sectors posting the biggest losses. The energy, consumer staples and healthcare sectors did however manage to all close slightly higher.

The best performer yesterday was once again medical device company, PolyNovo (ASX:PNV), in part due to its directors toping up on PNV shares, however it also seems investors are taking advantage of its share price weakness to purchase more shares. Meanwhile, the worst performers included NOVONIX (ASX:NVX), Imugene (ASX:IMU) and Magellan Financial Group (ASX:MFG). Investors are continuing to sell Imugene shares, following the termination of its supply agreement with Merck. 

The most traded stocks by Bell Direct clients yesterday included Fortescue Metals Group (ASX:FMG), ANZ (ASX:ANZ) and Macquarie Group (ASX:MQG).

In the US, the sell-off continued with all three benchmarks coming under pressure. The Dow Jones fell more than 600 points, the S&P500 down 3.2% and the Nasdaq slipped 4.3%. All sectors were in the red, apart from the consumer staples sector. Amid the losses, the benchmark 10-year Treasury yield hit its highest level since late 2018, trading well above 3%, which continued to crush tech names like Meta, Alphabet, Netflix, and Apple.

What to watch today:

• If you go by the SPI futures, the market is set to open 1.39% lower.
• Reporting wise, capital market business, Pendal Group (ASX:PDL) will be releasing its half-year results today. 
• Economic news wise, business confidence for April will be announced today. Business confidence currently stands at a five-month high of 16 points, however April’s reading is forecasted to fall to 12 points.
• Moving to commodities, the oil price tumbled around 6% as China’s lockdowns weigh on demand outlook. The gold price extended its decline to fall more than 1% on Monday, as the US dollar pushed to near two-decade highs. And the spot iron ore price has fallen about 4%, trading at $US136 a tonne.
• Private toll road developer, Atlas Arteria (ASX:ALX) is holding its AGM today.

Trading Ideas:

• Citi have maintained its Buy rating on Domino’s Pizza (ASX:DMP) with a price target of $108.42. At its current share price $67.60, this implies about 60% share price growth in a year. 
• Trading Central has a bearish signal on Northern Star Resources (ASX:NST) indicating that the stock price may fall from the close of $9.06 to the range of $7.10 - $7.50 in the next 35 days according to standard principals of technical analysis.  

The Aussie share market advanced 0.9% this week (Mon-Thu). Most industry sectors posted gains, except for the tech and materials sectors which came under pressure.

In this week’s wrap, Sophia covers:

• (0:56) Why Ramsay Health Care (ASX:RHC) gained 29%
• (2:32) Megaport (ASX:MP1) falling after disappointing results
• (2:51) The top stocks in the All Ords this week
• (3:35) The most traded stocks by Bell Direct clients
• (3:52) Two stocks to consider if you're buying the dip
• (5:41) Three economic news items to watch out for

The Aussie share market managed to advance 0.6% yesterday. Nine of the eleven industry sectors posted gains, with the tech sector advancing the most. On the flip side, the real estate sector and utilities sector posted small losses. 

On the ASX200 leaderboard, HUB24 (ASX:HUB) lifted nearly 10% off the back of its solid half-year results. The investment advice company experienced a record inflow of funds during the half, and an increase of 80% in its group underlying EBITDA. Macquarie maintained its Outperform rating on HUB and stated that the company is now its preferred exposure among wealth platforms. And a few tech stocks performed well, including Tyro Payments (ASX:TYR), as well as Life360 (ASX:360) and Zip (ASX:Z1P), who are both set to report today. Meanwhile, Domino’s Pizza (ASX:DMP) was the worst performer, plummeting 14% after its half-year results showed that its underlying net profit had plunged 5.3% to $91.3 million. This was short of Bell Potter’s and consensus’ expectations of $96m. Bell Potter have retained its HOLD rating with a 27% reduction in its price target to $95. 

The most traded stocks by Bell Direct clients yesterday included AVZ Minerals (ASX:AVZ), BrainChip (ASX:BRN) and Woodside Petroleum (ASX:WPL). 

In the US, the S&P500 closed lower for the fourth straight session, the Dow was down over 400 points and the Nasdaq declined more than 2% with the market is struggling to find direction given the Russia-Ukraine tensions. 

In line with the negative session over on Wall Street, the futures are suggesting the Aussie share market will open 1.3% lower this morning. 

What to watch today: 

• In commodities, the oil price is currently up, trading around US$92 a barrel. The gold price is up about 0.6% to US$1,907 an ounce. The palladium price is up 5%, so keep watch of ASX stocks like Chalice Mining (ASX:CHN) and Liontown Resources (ASX:LTR). And the seaborne iron ore price is trading around US$143 a tonne. 
• Reporting season: 
  • Firstly, Rio Tinto (ASX:RIO) released its results after market close yesterday, announcing a record financial result and total dividend of US247cps. So keep watch of RIO when the market opens.
  • We’ll also hear from several travel stocks, including Qantas (ASX:QAN), Flight Centre (ASX:FLT) and Auckland International Airport (ASX:AIZ). 
  • Tech stocks like Zip Co (ASX:Z1P), Appen (ASX:APX), Altium (ASX:ALU) and Life360 (ASX:360) are also set to report, as well as Blackmores (ASX:BKL) and Iluka Resources (ASX:ILU).
• Bell Potter expects Appen (ASX:APX) to deliver NPAT of US$41m, while consensus is expecting $US39.6m. 
• Aristocrat Leisure (ASX:ALL) is holding its AGM today. 
• There are a several companies going ex-dividend today also, including BHP Group (ASX:BHP), Challenger (ASX:CGF), OZ Minerals (ASX:OZL), Whitehaven Coal (ASX:WHC) and Woodside Petroleum (ASX:WPL).

Trading Ideas: 

• Bell Potter have maintained its BUY rating on Coronado Global Resources (ASX:CRN) with a price target of $1.65. Bell Potter noted that the speed of CRN’s balance sheet repair has been remarkable and its strong cash generation at record met coal prices will likely hold up until at least mid-2022. 
• Trading Central has a bullish signal on Steadfast Group (ASX:SDF), indicating that the stock price may rise from the close of $4.92 to the range of $5.28 - $5.36 in the next 19 days according to standard principals of technical analysis.

The Aussie share market advanced over 1% this week (Mon-Thu), with CSL's (ASX:CSL) strong report helping the healthcare sector rally more than 7%. 

In this week’s wrap, Sophia covers:

• (0:46) Sims' (ASX:SGM) share price up over 20% after strong results
• (1:20) Gold companies performing well as the gold price lifts 
• (2:00) Why other major mining stocks fell
• (5:19) Three company results which beat broker expectations 
• (6:14) The reporting results to watch next week
• (6:50) The latest unemployment rate release

Yesterday the ASX200 closed in the green. The materials sector made strong gains as iron ore in the spot market rose. Meanwhile tech shares declined the most, as Australia’s 10-year bond yield exceeded 2.1%, reaching the highest level since the beginning of 2019. This saw a sell-off in tech stocks, which tend to be more sensitive to interest rates.

On the ASX200, travel stocks gained for a second session. Webjet (ASX:WEB), Flight Centre (ASX:FLT) and Corporate Travel Management (ASX:CTD) all made the leaderboard. Casino owner Skycity Entertainment (ASX:SKC) and Star Entertainment (ASX:SGR) also made the top 10, boosted by confidence for tourism.

The most traded stock yesterday by Bell Direct clients was A2B Australia (ASX:A2B), which is home to brands such as 13cabs, Cabcharge and EFT Solutions. Its share price gained over 12% yesterday, after the departure of chief executive Andrew Skelton. The company also launched a strategic review of operations.

European markets closed mixed as investors await US inflation data, out later this week, while US equities gained. The Dow closed up 1.06%, the S&P500 up 0.84 and the Nasdaq up 1.28%.

The ASX200 is set open higher. The SPI futures are suggesting a 0.27% rise at the open this morning.

What to watch today:

• In economic news, yesterday NAB’s business confidence Index for January was released, with confidence bouncing back to 3 index points, from -12 points in December. Today, Westpac’s Consumer Confidence Index for February will be released at 10:30am AEDT.
• The oil price has fallen to US$89.64 a barrel, as attention was turned to the Iran nuclear talks that are set to resume today.
• Gold is higher, trading at US$1,826 an ounce, as the dollar rebounded ahead of US inflation data later in the week.
• The seaborne iron ore price is trading at US$148.83 a tonne.
• Commonwealth Bank (ASX:CBA) reported its half-year results this morning, delivering strong financial and operational performance. Statutory NPAT increased by 26% and CBA declared a $1.75 fully franked interim dividend, up 17% from this time last year. Look out for our full report on CBA later today.
• Other companies reporting their earnings results today include Centuria Capital Group (ASX:CNI), Dexus (ASX:DXS), Mineral Resources (ASX:MIN) and Northern Star Resources (ASX:NST).
• ResMed (ASX:RMD) is set to go ex-dividend today, which may see its share price fall as investors take their profits.

Trading Ideas:

• Bell Potter and Macquarie have different views on global mining-tech company Imdex (ASX:IMD), after the company reporting its earnings this week. Half-year revenue is up 35% to $167.8 million and NPAT is up more than 80% at $24.4 million. And Imdex declared a fully franked interim dividend of 1.5 cps. Following the report, Bell Potter have downgraded IMD from a BUY to a HOLD, maintaining a $3 price target. On another note, Macquarie retain their Outperform rating on IMD and have increased their price target from $2.90 to $3.30. IMD’s revenue and earnings beat Macquarie’s expectations by 13%.
• Trading Central have identified a bullish signal in Mincor Resources (ASX:MCR), indicating that the stock price my rise from the $1.71 to the range of $2.06 - $2.14, within 18 days, according to the standard principles of technical analysis.

Yesterday, the Aussie share market posted a small loss of 0.13%, in what was a choppy session. ANZ reported worse-than-expected first quarter margins, which saw its share price decline nearly 2% and the Australian government announced that our international COVID-19 border closures would end on February 21. 

Looking at the sector performances, the energy sector outperformed, up 1.6%, benefitting from the recent gains in both oil and gas commodity prices, while the healthcare sector led the losses, down 1.3%.

GrainCorp (ASX:GNC) led the way, rising an impressive 12.3%, after revealing that it’s expecting a favourable outlook for financial year 2022. And travel stocks were back on top following the government’s announcement that Australians would be welcoming back international travellers later this month. Flight Centre (ASX:FLT), Corporate Travel Management (ASX:CTD), Webjet (ASX:WEB) and Qantas (ASX:QAN) all gained more than 4%. Meanwhile, Magellan Financial Group (ASX:MFG) declined 11%, after it was announced that its director and chairman, Hamish Douglass would be taking a leave of absence.

The most traded stock by Bell Direct clients yesterday, was iron ore miner Champion Iron (ASX:CIA). Its share price fall may have been because the company traded ex-dividend yesterday. As a reminder, a company’s share price typically drops by the amount of the dividend paid to reflect the fact that new shareholders are not entitled to that payment.

In the US, both the S&P500 and Nasdaq started the week on a negative note as quarterly results continued to be a source of volatility, and as investors await key US inflation data on Thursday. The Dow closed flat, the S&P500 down 0.37% and the Nasdaq also down 0.58%. And Facebook-parent Meta shares have fallen another 5%, continuing its post-earnings slide. 

Today, following the negative session over on Wall Street, the futures are suggesting the Aussie share market will open 0.16% lower this morning. 

What to watch today:

• In economic news, business confidence data for January will be released this morning, which will provide further detail on how business confidence is holding up during the Omicron outbreak. Trading Economics expects today’s reading for January to come in at -14.  
• Suncorp (ASX:SUN) will be on watch today as the company is set to release its half-year results. Bell Potter currently has a BUY rating on the stock and is expecting NPAT to come in at $267.6m. While consensus is expecting a more modest NPAT of $290.5m.  
• Also reporting results today is Shopping Centres Australasia Property Group (ASX:SCP), G.U.D Holdings (ASX:GUD) and Charter Hall Long Wale REIT (ASX:CLW). 
• Keep an eye on Macquarie Group (ASX:MQG) as the company will be releasing its operational briefing today which will include an update on the investment bank’s performance during the third quarter of financial year 2022. 
• In commodities, the oil price fell following signs of progress in the US-Iran nuclear talks. The WTI crude oil price dropped nearly 1% to US$91.51 a barrel. On the flip side, the gold price climbed to a more than one-week high, as inflation risks boost the safe-haven’s appeal. And the seaborne iron ore price is trading 3.2% higher to US$150 a tonne. 

Trading Ideas: 

• Bell Potter has upgraded its rating on software company Altium (ASX:ALU) from a HOLD to a BUY, and have decreased its price target by 11% to $40. Bell Potter believe potential catalysts for the stock include 1) a strong first-half financial year 2022 result, 2) an upgrade in its financial year 2022 guidance and 3) a renewed and increased takeover offer from Autodesk. Now ALU last closed at $34.50, so that implies about 16% share price growth in a year.
• Trading Central has a bullish signal on Insurance Australia Group (ASX:IAG). This signal indicates that th

The Aussie share market has managed to post an impressive gain of 1.3% this week (Mon-Thu). Leading the gains were the energy and the utilities sectors, while the tech sector declined slightly.
 
 In this week’s wrap, Sophia covers: 

• (0:28) Nufarm (ASX:NUF) gaining after posting revenue growth in Q1
• (1:16) Why Ansell (ASX:ANN) experienced a large sell-off
• (2:04) The ETFs Bell Direct clients were trading this week
• (3:36) What to expect this reporting season
• (6:05) Two economic news releases to watch 

Access Bell Direct's reporting season calendar here.