What's happening in markets? Thursday 21st February

Patrick Poke

Livewire Markets

ASIC investigates unusual trading in Afterpay shares yesterday; Tesla loses another senior executive after just two months in the job; and Howard Marks tells investors to get the odds on their side. Here's what's happening in markets today. 

What I'm reading

Unusual trading in Afterpay shares triggers ASIC investigation

Fairfax Economics Correspondent, Eryk Bagshaw revealed this morning that ASIC was investigating the large drop in Afterpay's share rpice at 11:30am. Apparently the Senate Committee circulated an upcoming report into financial services yesterday morning. However, one broker said in his note this morning that Afterpay was calling anaylsts yesterday "to let them know they are ready for whatver recommendations are in the report". We'll have to wait and see if whether this turns out to be something or nothing. 

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Tesla loses its general counsel, Dane Butswinkas, after two months

The revolving door of executives continues at Tesla. This week, the new general cousel announced his departure. This comes just a week after Tesla's vice president of global recruitment left the company. 

Read article

Howard Marks: Getting the odds on your side

Oaktree Capital co-founder, Howard Marks, recently spoke at the CFA Society Portland's Annual Investment Strategy Dinner. Lauren Foster from the CFA Institute shares some of the content from that talk here. 

Read discussion

Stocks to watch

The following companies had reported results today at the time of writing:

  • Mineral Resources (MIN)
  • Zip Co (Z1P)
  • Coca-Cola Amatil (CCL)
  • Cash Converters (CCV)
  • Rural Funds Group (RFF)
  • PSC Insurance Group (PSI)
  • Urbanise (RBN)
  • ERM Power (EPW)
  • Hotel Property Investments (HPI)
  • Catapult Group International (CAT)
  • Pro Medicus (PME)
  • Abundant Produce (ABT)
  • Somnomed (SOM)
  • Midway (MWY)
  • Alumina (AWC)
  • APN Property Group (APD)
  • Viva Energy REIT (VVR)
  • Salmat (SLM)
  • Growth Point Properties (GOZ)
  • Qube Holdings (QUB)
  • Shaver Shop (SSG)
  • Iress (IRE)
  • CSG Limited (CSV)
  • Nine Entertainment Co. Holdings (NEC)
  • Engeneco (EGN)
  • Santos (STO)
  • Origin Energy (ORG)
  • Flight Centre (FLT)
  • The Star Entertainment Group (SGR)
  • Bigtincan Holdings (BTH)
  • Webjet (WEB)
  • Mortgage Choice (MOC)
  • Pacific Smiles Group (PSQ)
  • Accent Group (AX1)
  • Noni B (NBL)
  • MYOB Group (MYO)
  • Perpetual (PPT)
  • Impedimed (IPD)
  • Integral Diagnostics (IDX)
  • 3P Learning (3PL)
  • Sydney Airport (SYD)
  • Qantas Airways (QAN)
  • CML Group (CGR)
  • Ausdrill (ASL)
  • RXP Group (RXP)
  • Southern Cross Austereo (SXL)
  • Wesfarmers (WES)
  • Mesoblast (MSB)
  • Illuka Resources (ILU)
  • Infigen Energy (IFN)

Key market data

  • ASX Futures: 6,066.5 (-0.66%)
  • AUD/USD: 0.7163 (-0.05%)
  • ASX200: 6,096.50 (-0.17%)
  • S&P 500: 2,784.70 (+0.18%)
  • China A50: 11,896.06 (+0.44%)
  • Australia 2-yr bond: 1.744 (-1.97%)
  • Australia 10-yr bond: 2.092 (-1.83%)
  • US 2-yr bond: 2.502 (+0.43%)
  • US 10-yr bond: 2.648 (+0.47%)
  • Gold (USD/oz): 1,341.25 (-0.26%)
  • Copper (USD/lb): 2.915 (+1.43%)
  • Brent Oil (USD/bbl): 67.16 (+1.07%)
  • 62% Iron Ore (USD/t): 87.35 (-1.24%)

yield curve

Upcoming releases and events

  • The US FOMC Minutes are released today at 6am AEST
  • ABS employment data is released today at 11:30am AEST
  • German GDP for Q4 is released Friday at 6pm AEST
  • Euro area CPI for January is released Friday at 9pm AEST.

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Patrick Poke
Managing Editor
Livewire Markets

Patrick was one of Livewire’s first employees, joining in 2015 after nearly a decade working in insurance, superannuation, and retail banking. He is passionate about investing, with a particular interest in Australian small-caps.

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