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Steve Daghlian

๐Ÿ‘ค Speaker
964 total appearances

Appearances Over Time

Podcast Appearances

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

And it's certainly the mining sector that is standing out most.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

It's up about 3.7%.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

Now, we've got to remember that back in March, when news of the conflict broke, essentially, and there were concerns peaking as far as the conflict goes, the materials were down 14% in one month.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

They've bounced back strongly in April with a lift of more than 4%.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

And now they're improving by a little more than 7% so far in May.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

Let's look at some stocks on the market today, though.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

I mean, super retail has been one of the big movers.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

It was down as much as 13.5% at one stage this morning.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

Now it's down by about 3.5%.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

So it's quite a comeback from those lows.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

Now, it delivered a trading update after the market closed yesterday, essentially saying that it's had some growth across super cheap auto, Rebel, and MacPak brands that it operates, but sales of BCF went backwards, though.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

Now, it joined the likes of other retailers recently that have

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

warn somewhat of the Middle East conflict and the impact this is having on cost.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

JB Hi-Fi was one recently.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

Footwear retailer Accent was another.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

So Super Retail today is saying that sales momentum across all brands has been adversely affected by the onset of that conflict, together with concerns around fuel availability as well.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

So all of this is weighing on things like consumer sentiment, particularly around the Easter break.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

And it also said that trading conditions in the auto category moderated in March and April, the impact most evident in spending on stuff like power tools, which it's considering, I guess, to be more of a discretionary item, demand for fuel-related maintenance products that have been a bit more robust as expected.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

Lice and Wanda, another underperformer today.

CommSec Market Update
PM 07 May 26: ASX climbs to 2 week high

It's down by about 8%.