Afternoon Report / The market takes a breather (JHG, A2M, VCX)

By Market Matters 10 November 17

The market takes a breather (JHG, A2M, VCX)

Market Matters Afternoon Report 10th November 2017

The Australian market today eased slightly after a poor lead from overseas markets. News of delays to Trump’s tax plan weren’t taken well and our futures market was pointing down ~25 points before trade, around about where we finished today. Resources were hit hard today, which was unsurprising given BHP had fallen the equivalent of  2.5% overnight. Rio fell 2.3% which has erased the week’s gains.  Banks were also worse off, but once again it was the cum-dividend banks that fared best with money looking for yield, WBC and ANZ both go ex-div on Monday. Overall, a range today of +/-18 points, a high of 6038, a low of 6020 and a close of 6029, off 20pts or -0.33%.

ASX 200 Intra-Day Chart

 

ASX 200 Daily Chart

Janus Henderson (JHG) stated 3rd quarter results overnight with an impressive set of number pleasing investors. JHG popped just shy of 5% today, breaking out of its trading range below $46 to close at $47.75. Worries regarding operations after a sizeable merger earlier this year have been crushed and JHG looks in good shape.

Janus Henderson (JHG)  Daily Chart

It’s been a busy week here at MM with changes to both the Platinum and Income portfolios. A2 Milk (A2M), which we added to the Platinum, struggled today, however we are already up over 3.5% on the position after buying into weakness on Wednesday. Similarly, Vicinity Centres (VCX) has broken it’s range since we purchased on Wednesday in the Income Portfolio.

A2 Milk (A2M) Daily Chart

Vicinity Centres (VCX) Daily Chart

Have a great Weekend all, look out for the weekend report on Sunday

The Market Matters Team

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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.

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