Steve Daghlian
๐ค SpeakerAppearances Over Time
Podcast Appearances
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Yes, and no progress being made there at all.
As far as our sectors are concerned today, really, it's the utilities, a defensive area of our market, which is doing best, lifting about 2.2%.
Energy stocks are up around 1.3%.
Again, a lift in oil and gas prices have continued to provide a little bit of support there.
In fact, since the conflict first began, the energy index here in Australia is up roughly 15%.
And from one update to another, we've got Woodside Energy.
It's up in the order of 2% today.
So it's benefiting in part from the roughly 3% lift in oil prices last night.
But the energy group also said in an update today that it expects those strong prices for LNG probably going to be helpful as far as boosting profits in coming quarters.
So over the March quarter, LNG prices up an average of around 11% on the prior quarter.
And Reliance Worldwide, this is the plumbing products company, it rose 3.6% yesterday, up another 3% today.
Now, yesterday it did confirm that it's on track to meet its goals for the year.
It said it doesn't have direct exposure to the war or the closure of the Strait of Hormuz, but it did also flag that higher prices are certainly lifting certain costs like resin logistics, and it's needing to essentially lift prices to offset that.
And it also warned, of course,
on Tuesday, that a prolonged conflict could certainly be a negative, I guess, for the years ahead.
The longer it lasts, the worse it could be.
And I will also mention G8 education.
It's down about 29% today.