The market once again saw the best of it early before ebbing and flowing for much of the day, eventually giving back most of the early gains to close up, but only marginally so. IT stocks rounded out a strong week / month to lead the charge today while baby formula stock Bubs Australia (BUB) felt some pain, down ~13% on a weak quarterly update. All in all, a reasonable session to end pretty busy January with the market off to a flyer, up +4.98% for the month.
Asian markets were better today, Hong Kong up slightly ahead of the Chinese market resuming trade on Monday. US Futures were fairly quiet.
Overall, the ASX 200 added +8pts / +0.13% today to close at 7017. Dow Futures are trading higher by +43pts/+0.13%
ASX 200 Chart
ASX 200 Chart
CATCHING MY EYE
Sectors this Month – January 2020
Stocks this Month – January 2020
· GWA Group Raised to Neutral at Citi; PT A$3.60
· Fletcher Building Raised to Buy at Citi; PT NZ$6.25
· CSR Raised to Buy at Citi; PT A$5.60
· Austal Raised to Buy at Citi; PT A$4.40
· Myer Raised to Buy at Citi; PT 55 Australian cents
· Harvey Norman Raised to Buy at Citi; PT A$4.70
· Treasury Wine Cut to Neutral at Macquarie; PT A$13.30
· IOOF Holdings Cut to Neutral at Macquarie; PT A$8
· Adelaide Brighton Cut to Underperform at Macquarie; PT A$3.30
· Seven Group Raised to Hold at Morningstar
· Santos Cut to Neutral at Evans & Partners Pty Ltd; PT A$8
· IGO Raised to Buy at Argonaut Securities; PT A$6.50
· Suncorp Cut to Hold at Shaw and Partners; PT A$13
· QBE Insurance Raised to Buy at Bell Potter; PT A$15
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