The Match Out: ASX flat, why did TPG Telecom (TPG) fall 12%?
- The S&P/ASX 200 added 1 point / +0.02% to close at 7114 - for the week, the ASX added +1.17%
- Energy (+1.96%) & Materials (+0.82%) the clear standouts on the upside today plus they were the best performers across the 5 sessions.
- Property (-1.31%) and Healthcare (-0.94%) the weakest links today while the Utilities took the gong for the week.
- TPG Telecom (ASX:TPG) -12.39% on a weaker 1H result and no guidance.
- Inghams (ASX:ING) -9.43% down after profit fell nearly 60% to $35m,
- AGL Energy (ASX:AGL) -3.92% missed their previously stated EBITDA guidance.
- Stockland (ASX:SGP) -2.10% was lower despite a better than expected result & guidance, a soft July to blame.
- Newcrest (ASX:NCM) +3.64% was positive today on better FY22 profit and stronger than expected guidance for FY23.
- Cochlear (ASX:COH) +2.18% was up despite FY22 results missing the mark – upbeat outlook comments helped the SP.
- Iron ore futures lower in Asia, off 1.5%
- Gold was down a touch trading US$1756/oz at our close.
- Asian markets were down, the Nikkei in Japan fell -0.03%, while Hong Kong was off the same and China fell -0.70%.
- US Futures are lower but not by a lot.
ASX 200 Chart
TPG Telecom (TPG) $5.80
AGL Energy (AGL) $7.84
Stockland (SGP) $3.73
Newcrest (NCM) $19.35
Cochlear (COH) $218.86
Inghams (ING) $2.69
Sectors This Week – Source Bloomberg
Stocks This Week – Source Bloomberg
- Treasury Wine Raised to Outperform at Macquarie; PT A$15
- Xero Cut to Underperform at Macquarie; PT A$70
- HT&E Cut to Neutral at Macquarie; PT A$1.30
- Deterra Rated New Underperform at Barclay Pearce Capital
- Orora Rated New Hold at Barclay Pearce Capital; PT A$3.34
- HT&E Rated New Buy at Barclay Pearce Capital; PT A$1.71
- Pro Medicus Rated New Underperform at Barclay Pearce Capital
- Nearmap Rated New Underperform at Barclay Pearce Capital
- IPH Rated New Underperform at Barclay Pearce Capital; PT A$7.07
- Treasury Wine Cut to Neutral at Citi; PT A$13.50
- Beacon Lighting Cut to Neutral at Citi; PT A$2.53
- Origin Energy Raised to Neutral at Jarden Securities; PT A$5.75
- Beacon Lighting Cut to Neutral at Jarden Securities; PT A$2.30
- Transurban Cut to Underperform at Credit Suisse; PT A$13
- Blackmores Raised to Outperform at Credit Suisse; PT A$90
- Amcor GDRs Cut to Hold at Morgans Financial Limited; PT A$18.75
- IPH Cut to Hold at Morgans Financial Limited; PT A$10.63
- Orora Raised to Buy at Jefferies; PT A$4.10
- Pro Medicus Cut to Hold at Moelis & Company; PT A$56.74
- Transurban Cut to Neutral at Evans & Partners Pty Ltd
- Amcor GDRs Cut to Neutral at Macquarie; PT A$19
- ASX Raised to Hold at Morgans Financial Limited; PT A$76.90
- Medibank Private Cut to Hold at Morgans Financial Limited
- HomeCo Daily Raised to Buy at Jefferies; PT A$1.43
- Amcor GDRs Cut to Underperform at Jefferies; PT A$16
- Pro Medicus Cut to Hold at Bell Potter; PT A$55
- Aurora Energy Metals Rated New Speculative Buy at Euroz
Major Movers Today
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James is Portfolio Manager & Primary Author at Market Matters, a daily investment report with over 2500 subscribers that offers real market insight. He is also Senior Portfolio Manager within Shaw and Partners heading up a team that manages...