Afternoon Report / ASX closes little changed

By Market Matters 18 September 20

ASX closes little changed

Market Matters Afternoon Report 18th September 2020


A largely directionless session to finish off the week with the index chopping around parity for most of the day. The marginal weakness in banks was largely offset by some strength in the resources while tech was also on the rebound. For the most part though, there was little to drive the market either way hence more rotation of money being seen across the sectors.

Tonight, sees the US dealing with a significant options and futures expiry, so expect a volatile session overseas. Also expecting UK retail figures which will be closely watched given the rise second wave infection numbers across Europe.

Overall, the ASX 200 closed down 18pts / -0.32% to 5859 today. US Futures are lower, with Dow Futures off -26pts/-0.09%.

ASX 200 Chart

ASX 200 Chart


Sectors this week

Stocks this week


·         Beach Energy Raised to Buy at Citi; PT A$1.94

·         Reliance Worldwide Cut to Neutral at UBS; PT A$3.85

·         Blackmores Cut to Hold at Morningstar

·         QBE Insurance Raised to Buy at Morningstar

·         Mineral Resources Raised to Hold at Morningstar

·         Nanosonics Rated New Neutral at Goldman; PT A$5.50

·         Aristocrat Raised to Positive at Evans & Partners Pty Ltd

·         Mincor Cut to Hold at Shaw and Partners; PT 95 Australian cents

·         Immutep Rated New Speculative Buy at Bell Potter


No changes today

Have a great night

James, Harry and the Market Matters team


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