Afternoon Report / A subdued session to end the week

By Market Matters 15 March 19

A subdued session to end the week

Market Matters Afternoon Report 15th March 2019


An extremely subdued end to the week as the market traded in a tight ~20 point range for much for the session, chopping in an out of black territory. For the week, the index slipped 28pts / -0.46%, dragged by the financials and consumer discretionary sectors.

NAB was the only bank to finish higher today, thanks to their response to the Royal Commission – clearly the market is liking financial services firms getting on the front foot with regulation. A couple of the big banks in ANZ and CBA were downgraded by some big brokers today. They both closed lower. Perpetual (PPT), which we own in the income portfolio, dropped -5.79% today after telling the market that there was no news which would explain the recent volume through the name. More stock has changed hands in the name this week than any other week since 2009! 

Overall today, the index closed down  4pts or -0.07% to 6175. Dow Futures are trading up +78 points / +0.30%.

ASX 200 Chart

ASX 200 Chart


Sectors this week; 

Stocks this week;

Broker Moves;

·         CBA Downgraded to Underperform at Macquarie

·         ANZ Bank Downgraded to Underweight at Morgan Stanley; PT A$25

·         Medibank Private Cut to Underperform at Credit Suisse; PT A$2.50

·         Origin Energy Cut to Equal-weight at Morgan Stanley; PT A$7.67


We added 2% to Bingo (BIN) today, and placed an order to buy Emeco (EHL) at around $2.02. We are yet to purchase EHL, and will update subscribers on our plans over the weekend.

Watch out for the weekend report. Have a great night,

James / Harry & the Market Matters Team


Market Matters may hold stocks mentioned in this report. Subscribers can view a full list of holdings on the website by clicking here. Positions are updated each Friday, or after the session when positions are traded.


All figures contained from sources believed to be accurate.  Market Matters does not make any representation of warranty as to the accuracy of the figures and disclaims any liability resulting from any inaccuracy.  Prices as at 15/03/2019

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