Market Calendar 22nd July – 26th July 2024
Anticipating next week’s economic figures. Stay informed on the latest financial updates and trends.
Closing Bell 18th July: Tech Sector Plunge Drags Australian Shares 0.2% Lower Amid Global Semiconductor Sell-Off
Australian shares fell by 0.2% at lunchtime, primarily driven by a 2.9% tumble in the tech sector, which mirrored declines in overseas markets.
Closing Bell 17th July: Gold Prices Hit New Peak, Boosting ASX Gold Miners Amid Record Sharemarket Rally
A surge in interest rate-sensitive technology and real estate stocks propelled the Australian sharemarket to a new intraday record on Wednesday.
Balanced Portfolio Recommendation: Take Profit 4% Elders Limited (ELD)
We are taking profit on Elders Limited (ELD) by selling our entire 4% allocation. Purchased at $7.60 and now selling at around $9.15, we realize a 20.3% capital gain. Additionally, we received a $0.18 dividend per share, which provides a 2.36% yield. In total, this equates to a 22.66% profit on our investment.
Closing Bell 11th July: Uranium Stocks Surge as Kazakhstan Tax Hike Tightens Supply Outlook
All 11 sectors of the S&P/ASX 200 advanced, bringing the index close to its record intraday high of 7910.5 points set on April 2.
Closing Bell 1st July: WiseTech Leads Decline in ASX Tech Stocks Amid Global Election Uncertainty
The S&P/ASX 200 Index dropped by 31.2 points to 7736.3, with technology stocks being the worst performers, down 1.8%, and WiseTech plummeting 5.6%.
Balanced Portfolio Recommendation: Energy Sector Switch WOR to ALD
We recommend selling Worley Limited (WOR) and switching to Ampol Limited (ALD). Our initial retention of WOR was based on the expectation of a rebound from its recent lows, which has not materialized.
Balanced Portfolio Recommendation: Switch 2% Elders (ELD) to Nufarm (NUF)
We recommend reallocating 2% of our portfolio from Elders (ELD) to Nufarm (GNC). This decision is based on the realization of a 9.2% profit in Elders and the assessment that Nufarm is currently undervalued, as supported by its recent earnings report and market conditions.
Balanced Portfolio Recommendation: Take profit Graincorp (GNC)
The trade in Graincorp has worked in our favor and has now hit the highs of the technical. We are going to take profit on the trade.
Balanced Portfolio Recommendation: Sell 3% Incitec Pivot Ltd (IPL)
Sell 3% of Incitec Pivot Limited (ASX: IPL). The ongoing divestment of its Fertilisers business introduces significant complexity and uncertainty, impacting financial stability.
MPC Markets Calendar – May 2024
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Balanced Portfolio Recommendation: Take Profit – 1/2 of Paladin Energy (PDN)
This action secures a solid 25% profit on half of our investment, aligning with our initial risk management and profit-taking strategy. By locking in gains, we protect our portfolio against unforeseen market volatilities while capitalizing on our successful positioning.