The ASX 200 ended the day up 31 points to 7065 (+0.4) in a non-eventful day on the market. The big company news today came from the Retail space with Premier Investments (PMV) announcing that JB Hi-fi (JBH) CEO Richard Murray will take over as CEO in August, a big coup for the fashion empire retail. PMV shares were up 2.07% on the back of the announcement.
The ABS reported annual inflation reached 1.1% over the past 12 months but was expected to be 1.4%. The market reacted positively to this with a spike in the ASX 200 on the back of this news. Whilst this is the highest inflation number since the start of the Covid pandemic, it still indicates ongoing weakness within the economy.
Iron Ore prices continue to climb, now sitting at $195 p/t. This did not an increase in share price for the big three Iron Ore miners being BHP, FMG & RIO who were all down slightly for the day. The market clearly does not think that this price boom will last.
We saw a trading update today from Ansell (ANN) who continue to go from strength to strength announcing a profit upgrade. The global leader in personal protection and safety solutions increased their Full Year EPS to be in the range of $US1.92 – $US2.02. This being up from the previous guidance range of $US1.60 – $US1.70 communicated to the market in February. The share price increased 3.81% on the news to close near all-time highs of $40.86 and is now up 38% from the same time last year.
Coles Ltd (COL) reported Q3 earnings today with the share priceup 0.3% despite reporting a 6% drop in supermarket sales vs year ago. Coles had announced to the market that sales were unlikely to revisit pandemic highs. Woolworths (WOW) to report tomorrow.
|Academic & Education Services||-2.29%|
Keep an eye out for the below Corporate news this week
|28th April (Wed)||29th April (Thurs)||30th April (Fri)|
|Coles (COL)||Q3 Sales|
|St.Barbara Ltd (SBM)||Q3 Production|
|Sandfire Resources (SFR)||Q3 Activities|
|Woolworths (WOW)||Q3 Sales|
|GPT Group (GPT)||Q1 Update|
|Oceana Gold (OGC)||Q1 Earnings|
|Marley Spoon (MMM)||Q1 Earnings|
|Origin Energy (ORG)||Q3 Production|
|Points Bet (PBH)||Q3 Earnings|