Latest news with #LochlanHalloway
Mint
a day ago
- Business
- Mint
Australia shares end flat as bank profit-taking caps mining gains
ASX200 ends flat as banks offset miners' gains BHP soars 5.6%, best session in over 4 years CBA sheds over 2%, down 6% from record high GemLife jumps 4% on ASX debut NZ50 slips, snaps 5-day rally (Updates to market close) July 3 (Reuters) - Australian shares closed little changed on Thursday, hovering near record highs, as profit-taking in banks offset a rotation into underpriced mining stocks. The S&P/ASX 200 benchmark index finished at 8,595.80 points, 1.9 points below the previous day's all-time closing high. Investors scooped up mining stocks, reliant on exports to top iron ore consumer China, which have significantly underperformed the benchmark and the financials sector over the past year. The sub-index jumped over 3% on the day to hit a three-week high. BHP advanced 5.6% in its strongest session since January 2021, while Rio Tinto added 1.8%. "It's too early to say whether there's a lasting rotation underway between the ASX's two biggest sectors, but right now, we see far better value in miners than in banks," said Lochlan Halloway, equity market strategist at Morningstar. The sub-index has lost nearly 14% over the last two fiscal years. Financials were the biggest drag on the benchmark, shedding over 1% in their weakest session in a week. Commonwealth Bank of Australia dropped 2.2% on the day; now down more than 6% from last week's record high. A 50% rally over the past two fiscal years, driven largely by inflows into CBA, has left investors cautious and eyeing a potential trigger for correction in banks and rotation into lagging sectors. "After such a strong rally (in banks), it's understandable that some investors are choosing to lock in profits," Halloway said. Elsewhere, discretionary consumer stocks fell 1.1%, while energy stocks rose 0.8%. Retirement resorts operator GemLife Communities advanced 4.1% in its market debut after Australia's biggest IPO this year. In New Zealand, the benchmark S&P/NZX 50 index snapped a five-day winning streak to fall 0.6%, finishing at 12,704.48 points. (Reporting by Nikita Maria Jino in Bengaluru; Editing by Nivedita Bhattacharjee)
West Australian
14-05-2025
- Business
- West Australian
ASX lifts for sixth straight session on latest trade news
A rally in energy and mining stocks saw the ASX200 eke out a small gain during Wednesday's trading, as the market's 'risk on' sentiment continued. The benchmark ASX200 index closed up on Wednesday, gaining 10.60 points or 0.13 per cent to 8,279.60. The broader All Ordinaries also traded higher on Wednesday, gaining 9.50 points or 0.11 per cent to 8,520.20 and setting a new 50-day high. The Australian dollar continued its steady rally up 0.05 per cent to 64.76 US cents. On a mixed day six of 11 industry sectors ended in the green, leading the risk on part of the market including energy and technology. Helping to lead the rally was the buy now pay later shares, with Zip up 5.29 per cent to $2.09 while Block closed up 6.30 per cent to $90.35. The more defensive part of the market including consumer defensive, healthcare and utilities all finished in the red. Origin Energy fell 1.1 per cent to $10.98, APA Group dropped 1.3 per cent to $8.16 and AGL dipped 3.45 per cent to $10.36. The two major supermarkets finished in the red. Woolworths shares fell 0.16 per cent to $31.51 while Coles dropped 0.88 per cent to $21.33. Morningstar equity market strategist Lochlan Halloway said the Australian gains followed a strong showing on Wall Street session overnight on the back of the tech sector continuing its rally overnight. Nvidia was one of the main drivers, up 5.6 per cent on the back of US President Donald Trump allowing the chip maker to send its artificial intelligence microchips to China. 'It is always constructive to look into the US and a lead into what might happen in our market. It was a fairly strong showing on the US, particularly in the tech sector with the Nasdaq up nearly 2 per cent overnight,' Mr Halloway said. 'That was primarily due to further deregulation with Trump's tariffs, including chip restrictions and that spilt over into Australia's tech sector today.' 'The strongest was energy, which is sort of a global growth proxy sector. Oil was up, again reflecting de-escalating trade tensions and a more optimistic outlook for global growth.' In company news Australia's largest bank has announced bumper quarterly cash profits, but its boss warns global uncertainty could soon slow the Australian economy. Commonwealth Bank revealed its cash profits rose 6 per cent to $2.6bn in the March quarter, on the back of strong lending to Australian businesses. The bank said business loans surged 9.1 per cent or $3.7bn within those three months, outpacing its home-lending volumes which grew 4.1 per cent. Importantly for shareholders, CBA said its net interest margin – a key measure of profitability – held stable in the quarter, excluding non-recurring earnings, although it did not provide the figure in its trading update. CBA finished Wednesday up 0.82 per cent to $167.50, ANZ finished narrowly in the green up 0.070 per cent to $28.53, NAB jumped 1.38 per cent to $36.10 and Westpac was the outlier down 1.20 per cent to $31.26. Life 360 also continued its impressive run up 9.46 per cent on Wednesday to $29.75 after releasing its quarterly earnings on Tuesday, which beat market expectations. Insignia shares tumbled 15.75 per cent to $3.37 after it announced Bain Capital said it was walking away from its $3.4bn takeover on 'macro uncertainty'. Gaming company Aristocrat also slumped 8.85 per cent to $62.10 after posting its half-yearly results which underwhelmed the market.
Perth Now
14-05-2025
- Business
- Perth Now
ASX rises on US-China chip deal
A rally in energy and mining stocks saw the ASX200 eke out a small gain during Wednesday's trading, as the market's 'risk on' sentiment continued. The benchmark ASX200 index closed up on Wednesday, gaining 10.60 points or 0.13 per cent to 8,279.60. The broader All Ordinaries also traded higher on Wednesday, gaining 9.50 points or 0.11 per cent to 8,520.20 and setting a new 50-day high. The Australian dollar continued its steady rally up 0.05 per cent to 64.76 US cents. On a mixed day six of 11 industry sectors ended in the green, leading the risk on part of the market including energy and technology. Australia's market continues to eke out small gains. Photo: Gaye Gerard / NewsWire Credit: News Corp Australia Helping to lead the rally was the buy now pay later shares, with Zip up 5.29 per cent to $2.09 while Block closed up 6.30 per cent to $90.35. The more defensive part of the market including consumer defensive, healthcare and utilities all finished in the red. Origin Energy fell 1.1 per cent to $10.98, APA Group dropped 1.3 per cent to $8.16 and AGL dipped 3.45 per cent to $10.36. The two major supermarkets finished in the red. Woolworths shares fell 0.16 per cent to $31.51 while Coles dropped 0.88 per cent to $21.33. Morningstar equity market strategist Lochlan Halloway said the Australian gains followed a strong showing on Wall Street session overnight on the back of the tech sector continuing its rally overnight. Nvidia was one of the main drivers, up 5.6 per cent on the back of US President Donald Trump allowing the chip maker to send its artificial intelligence microchips to China. 'It is always constructive to look into the US and a lead into what might happen in our market. It was a fairly strong showing on the US, particularly in the tech sector with the Nasdaq up nearly 2 per cent overnight,' Mr Halloway said. 'That was primarily due to further deregulation with Trump's tariffs, including chip restrictions and that spilt over into Australia's tech sector today.' On a mixed day six of the 11 sectors finished in the green. Picture NewsWire/ Gaye Gerard. Credit: News Corp Australia 'The strongest was energy, which is sort of a global growth proxy sector. Oil was up, again reflecting de-escalating trade tensions and a more optimistic outlook for global growth.' In company news Australia's largest bank has announced bumper quarterly cash profits, but its boss warns global uncertainty could soon slow the Australian economy. Commonwealth Bank revealed its cash profits rose 6 per cent to $2.6bn in the March quarter, on the back of strong lending to Australian businesses. The bank said business loans surged 9.1 per cent or $3.7bn within those three months, outpacing its home-lending volumes which grew 4.1 per cent. Importantly for shareholders, CBA said its net interest margin – a key measure of profitability – held stable in the quarter, excluding non-recurring earnings, although it did not provide the figure in its trading update. CBA finished Wednesday up 0.82 per cent to $167.50, ANZ finished narrowly in the green up 0.070 per cent to $28.53, NAB jumped 1.38 per cent to $36.10 and Westpac was the outlier down 1.20 per cent to $31.26. Life 360 also continued its impressive run up 9.46 per cent on Wednesday to $29.75 after releasing its quarterly earnings on Tuesday, which beat market expectations. Insignia shares tumbled 15.75 per cent to $3.37 after it announced Bain Capital said it was walking away from its $3.4bn takeover on 'macro uncertainty'. Gaming company Aristocrat also slumped 8.85 per cent to $62.10 after posting its half-yearly results which underwhelmed the market.
Yahoo
27-01-2025
- Business
- Yahoo
Why Australian Oilseeds (COOT) Is Among the Best Australian Stocks to Buy Now?
We recently compiled a list of the . In this article, we are going to take a look at where Australian Oilseeds Holdings Limited (NASDAQ:COOT) stands against other best Australian stocks to buy now. According to a report by Vanguard published on January 24, Australia's economy is expected to experience a gradual recovery in 2025, following its slowest growth in 32 years in 2024. The report forecasts an economic growth of 2% year over year by the end of 2025, with trimmed mean inflation, a core measure that excludes items at the extremes, expected to reach 2.5% year over year. However, the report notes that low productivity growth and higher unit labor costs will keep core inflation from falling sustainably to the midpoint of the Reserve Bank of Australia's (RBA) 2%–3% target range until later in 2025. The RBA has left its policy rate target unchanged at 4.35% since December 10, but has softened its language around future policy decisions, noting that it is 'gaining some confidence that inflation is moving sustainably toward the target.' Despite this, Vanguard expects the RBA to remain patient and not initiate rate cuts until the second quarter of 2025, due to a tight labor market. READ ALSO: 12 Most Promising Green Stocks According to Hedge Funds and 10 Worst Performing Energy Stocks in 2024. In an interview on January 19, Lochlan Halloway, Market Strategist at Morningstar Australia, pointed out that the premium to fair value of large-cap stocks in the Australian market is abnormally high, trading at around 20% above fair value. According to Halloway, this is a concern as 20 companies account for about 60% of the ASX 100. In terms of value opportunities, Halloway identified the energy sector, particularly companies that are trading at significant discounts to their fair value. He also noted that small-cap companies, which were largely left behind in the market rally may offer value, although investors need to be judicious in selecting quality companies. Additionally, sectors such as consumer defensives appear close to fair value or even cheap. As the Australian economy gradually recovers in 2025, opportunities lie in undervalued sectors such as energy and consumer defensives, as well as among small-cap companies that have yet to catch up with the broader market rally. To compile our list of the 10 best Australian stocks to buy now, we used Finviz and Yahoo stock screeners to identify Australian companies. We then used Insider Monkey's Hedge Fund database to rank 10 stocks according to the largest number of hedge fund holders, as of Q3 2024. The list is sorted in ascending order of hedge fund sentiment. Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here). Number of Hedge Fund Holdings: 4 Australian Oilseeds Holdings Limited (NASDAQ:COOT) is an Australian company specializing in the production and export of oilseed crops, including canola and sunflower seeds. The company's operations are geared toward meeting global demand for plant-based oils and serves food manufacturers, biofuel producers, and agricultural markets. Australian Oilseeds Holdings Limited (NASDAQ:COOT) has established itself as a trusted source of premium oils, both in Australia and internationally. To accelerate its growth and expand its market presence, Australian Oilseeds Holdings Limited (NASDAQ:COOT) has entered into a strategic partnership with Shanghai Maiwei Trading Co., Ltd. This partnership is a significant step in bringing the brand's premium range of Australian cold-pressed, non-GMO canola and olive oils to Chinese consumers. Shanghai Maiwei, with its extensive market presence and deep regional expertise, will oversee all branding activities in China by leveraging teams in Shanghai, Shenzhen, and Hebei. The Shenzhen team, known for its e-commerce prowess, will lead online promotions and offline collaborations with supermarkets and private channels, ensuring a comprehensive market approach. Australian Oilseeds (NASDAQ:COOT) is also expanding its operations to the United States. Through Good Earth Oils, the company will distribute its Australian cold-pressed non-GMO canola oil and olive oil to retailers and wholesalers across the U.S. This strategic move is expected to open new markets and increase the company's global footprint. Furthermore, Australian Oilseeds (NASDAQ:COOT) is investing in renewable energy initiatives, such as solar and biodiesel, to power its operations and reduce its carbon footprint. Overall COOT ranks 5th on our list of the best Australian stocks to buy now. While we acknowledge the potential of COOT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than COOT but that trades at less than 5 times its earnings, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap Disclosure: None. This article is originally published at . Sign in to access your portfolio
Yahoo
27-01-2025
- Business
- Yahoo
Why Tamboran Resources (TBN) Is Among the Best Australian Stocks to Buy Now?
We recently compiled a list of the . In this article, we are going to take a look at where Tamboran Resources Corporation (NYSE:TBN) stands against other best Australian stocks to buy now. According to a report by Vanguard published on January 24, Australia's economy is expected to experience a gradual recovery in 2025, following its slowest growth in 32 years in 2024. The report forecasts an economic growth of 2% year over year by the end of 2025, with trimmed mean inflation, a core measure that excludes items at the extremes, expected to reach 2.5% year over year. However, the report notes that low productivity growth and higher unit labor costs will keep core inflation from falling sustainably to the midpoint of the Reserve Bank of Australia's (RBA) 2%–3% target range until later in 2025. The RBA has left its policy rate target unchanged at 4.35% since December 10, but has softened its language around future policy decisions, noting that it is 'gaining some confidence that inflation is moving sustainably toward the target.' Despite this, Vanguard expects the RBA to remain patient and not initiate rate cuts until the second quarter of 2025, due to a tight labor market. READ ALSO: 12 Most Promising Green Stocks According to Hedge Funds and 10 Worst Performing Energy Stocks in 2024. In an interview on January 19, Lochlan Halloway, Market Strategist at Morningstar Australia, pointed out that the premium to fair value of large-cap stocks in the Australian market is abnormally high, trading at around 20% above fair value. According to Halloway, this is a concern as 20 companies account for about 60% of the ASX 100. In terms of value opportunities, Halloway identified the energy sector, particularly companies that are trading at significant discounts to their fair value. He also noted that small-cap companies, which were largely left behind in the market rally may offer value, although investors need to be judicious in selecting quality companies. Additionally, sectors such as consumer defensives appear close to fair value or even cheap. As the Australian economy gradually recovers in 2025, opportunities lie in undervalued sectors such as energy and consumer defensives, as well as among small-cap companies that have yet to catch up with the broader market rally. To compile our list of the 10 best Australian stocks to buy now, we used Finviz and Yahoo stock screeners to identify Australian companies. We then used Insider Monkey's Hedge Fund database to rank 10 stocks according to the largest number of hedge fund holders, as of Q3 2024. The list is sorted in ascending order of hedge fund sentiment. Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here). Number of Hedge Fund Holdings: 4 Tamboran Resources Corporation (NYSE:TBN) is an early-stage, growth-driven independent natural gas exploration and production company headquartered in Sydney, Australia. The company is primarily focused on developing unconventional natural gas resources in the Beetaloo Basin, located in the Northern Territory of Australia. Tamboran Resources Corporation (NYSE:TBN) is focusing on developing its natural gas resources in the Beetaloo Basin and is integrating advanced U.S. drilling and completion technologies. The company believes that these techniques will enable it to achieve natural gas production that complies with Australia's stringent greenhouse gas (GHG) regulations, which aim for net zero carbon emissions by 2050. Tamboran Resources (NYSE:TBN) plans to reach net zero equity Scope 1 and 2 GHG emissions once commercial production begins. Tamboran Resources (NYSE:TBN) holds significant exploration permits (EPs) covering around 4.7 million contiguous gross acres in the Beetaloo Basin, making it the leading acreage holder and operator in the region. Overall TBN ranks 6th on our list of the best Australian stocks to buy now. While we acknowledge the potential of TBN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TBN but that trades at less than 5 times its earnings, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap Disclosure: None. This article is originally published at . Sign in to access your portfolio
