Ansell is under Algo Engine buy conditions and we see support building within the $33 – $36 level.
ANN goes ex-div $0.33 on 24 Feb.
Subscribers to our Options Pro service should look at buying the Feb $34.50 calls as a leveraged exposure. For more detail on our strategy, please call 1300 614 002.
Amcor is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
Amcor goes ex-div $0.17 on 3 March.
Ramsay Health Care is under Algo Engine buy conditions and is a current holding in our model portfolio.
{NYS:C} reported Q4 earnings which showed a 10% fall in revenue and 7% fall in profit.
The release of $1.5bn in reserves for credit losses helps to pad the numbers, as did the potential one-off boost from growth in trading and investment-related income.
In 2021 we remain concerned about credit quality deterioration and risks to non-repeatable investment-related income growth, both likely to negatively impact returns.
The company share buyback program will offer some downside protection and we’ll look to enter the trade from the long side, at lower price levels.
For the time being, we sit on the short side of the Citi trade.
Coles Group is under Algo Engine buy conditions.
Monitor Coles for a swing higher in the short-term momentum indicators within the price zone displayed below.
Vanguard Global Infrastructure Index is in our “high conviction” portfolio.
We see upside from the current $53 price level.
The fund offers investors diversified exposure to infrastructure sectors, including transportation, energy and telecommunications.
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NCM is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We see price support developing near the $25 – $26 level.
Retail banking profit margins will struggle as a reduction in interest rates, results in lower profits, due to lower net interest income.
This week the Reserve Bank warned that banks face fresh risks of business insolvencies and tighter margins from record low interest rates.
“The resilience of the banking system up to now doesn’t mean that risks have passed,” Mr Kearns said.
“We’ve had the largest contraction in global output since the Great Depression. And as that impairs some households’ and businesses’ ability to repay their loans, the liquidity phase of the crisis is giving way to a solvency phase.”
US banks report earnings tonight and we’ll analyze the breakdown in profits from investment activities versus retail banking. This will be a key determinant in global fund managers deciding to sell into this result or hold existing long exposure within the sector.
A reference point to consider will be tracking the ASX listed MVB ETF. The suggested approach is to stay long the sector but re-evaluate, should we see the price action trade below the 10-day average.
Further updates will be provided following tonight’s US bank results.
The number of Americans filing first-time applications for unemployment benefits surged last week, confirming a weakening in labor market conditions as a worsening pandemic disrupts operations at businesses.
Initial claims for US unemployment insurance missed expectations by a large margin, hitting a five-month high.
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