Steve Daghlian
๐ค SpeakerAppearances Over Time
Podcast Appearances
And it's certainly the mining sector that is standing out most.
It's up about 3.7%.
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.
They've bounced back strongly in April with a lift of more than 4%.
And now they're improving by a little more than 7% so far in May.
Let's look at some stocks on the market today, though.
I mean, super retail has been one of the big movers.
It was down as much as 13.5% at one stage this morning.
Now it's down by about 3.5%.
So it's quite a comeback from those lows.
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.
Now, it joined the likes of other retailers recently that have
warn somewhat of the Middle East conflict and the impact this is having on cost.
JB Hi-Fi was one recently.
Footwear retailer Accent was another.
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.
So all of this is weighing on things like consumer sentiment, particularly around the Easter break.
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.
Lice and Wanda, another underperformer today.
It's down by about 8%.