Afternoon Report / Markets whimper into the close – Happy Mothers Day for Sunday!

By Market Matters 11 May 18

Markets whimper into the close – Happy Mothers Day for Sunday!

Market Matters Afternoon Report 11th May 2018

WHAT MATTERED TODAY

It felt like the ASX crawled into the weekend again, opened well, pushing higher before being weighed down into the weekend – eventually closing on the lows of the day. The ASX 200 finishing marginally lower by -2 points or -0.04% however it was around -25pts below the session highs. The ASX 200 finishing at 6116.

A short report this afternoon – a long lunch today with a client and his son. One of the best things about what we do is sitting and eating with a client – talking about markets – our approach to them – and in simple terms, when they appreciate our approach. We certainly don’t get it right all the time but I’ve always thought about our business and what we do as a community – proud of our straight up and down approach!  With a bottle of plonk under the belt, one can often become reflective however in the face of all the scandal hitting the financial services sector and viewing the results from our recent Market Matters survey, we’re humbled by recent feedback. Above all, rest assured, the team at MM will always call it as it is, we’ll work hard for our subscribers and clients, and we love the feedback we’ve received of late. Thanks Simon W for lunch today, and all our subscribers and clients. Much appreciated.

Enjoy the weekend and Happy Mother’s Day to all the wonderful Mothers out there – My wife Alice, Mum Pam and Mother in Law Ros who read this, or say they do – we appreciate all your efforts!

ASX 200 Chart

          

ASX 200 Chart

CATCHING OUR EYE

Material stocks – again the shining light for the market this week while the Telco’s were a disappointment

From a stocks specific perspective, Greencross (GXL), the Vet business that also owns Pet Barn struggled after a big downgrade and question marks over their previous accounting methods, while it was nice to see Janus rebound from recent lows

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Have a great night

James & the Market Matters Team

Disclosure

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.

Disclaimer

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 11/05/2018. 5.00PM  

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