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Australian Equities
Jim Taylor: What’s driving the ASX this week
There were plenty of hits and misses in the ASX’s half-year reports – and high levels of volatility around results drove some big moves in the market.
By last week some 40 per cent of stocks had moved more than 5 per cent either way after reporting – a level not seen since 2019 and well ahead of the 25 per cent or so average going back to 2007.
Pendal PM Jim Taylor noted a new high for the ratio of a stock’s earnings-day move versus its 30-day average daily move.
“This hit 5x, versus an average of 3x in reporting seasons back to 2007,” he said.
“The savage reaction to earnings misses is driving corporate Australia to be much more proactive in cost-cutting to support earnings.
“They are also more constructive on share buy-backs as a mechanism to support the stock in increasingly volatile times.”
Consensus ASX200 profit expectations for FY25 and FY26 fell slightly, due mainly to lower-than-expected earnings factored into some larger-cap names in energy, banking, health care and tech.
Crispin Murray: What’s driving the ASX this week?
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Crispin Murray: What’s driving the ASX this week?
Crispin Murray: What’s driving the ASX this week?
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Crispin Murray: What’s driving the ASX this week?
Elise McKay: What’s driving equities this week?
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Elise McKay: What’s driving equities this week?
Here are the main factors driving the ASX this week, according to Aussie equities analyst and portfolio manager ELISE MCKAY and reported by head investment specialist CHRIS ADAMS
Read Pendal’s latest weekly equities overview.
Rajinder Singh: What’s driving Aussie equities this week?
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Rajinder Singh: What’s driving Aussie equities this week?
Elise McKay: How equities investors should think about China’s disruptive DeepSeek AI
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Elise McKay: How equities investors should think about China’s disruptive DeepSeek AI
Market volatility sparked by China’s surprise DeepSeek AI app underscores the benefits of taking an active approach to portfolio management, argues Pendal’s Elise McKay.
DeepSeek rocked the tech world last week by demonstrating performance similar to OpenAI’s ChatGPT at a fraction of the development cost.
Market reaction was swift. Nvidia, the leading supplier of AI chips, dropped 17 per cent.
“The day-one market reaction is not necessarily reflective of the medium-or-longer-term outlook,” says Elise. “It is important to look through the noise.
“Volatility is a reflection of the unknown — and uncertain situations can create opportunities as we get clarity.
“DeepSeek demonstrates how the increasing influence of passive money in equity markets is creating opportunities for active managers.
“Cheaper AI shifts power away from the handful of hyper-scalers who could previously charge a premium for access. Open-source models mean a wider range of people can use it.”
“That could mean a broadening of market leadership away from the Magnificent Seven tech leaders such as Nvidia and Meta.”
Pendal’s Rachel Folder on the 2025 outlook for Aussie equities
Pendal investment analyst RACHEL FOLDER joins Livewire Markets to reveal her picks and predictions for the year ahead
Jim Taylor: What’s driving the ASX this week?
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Jim Taylor: What’s driving the ASX this week?
Anthony Moran: what’s driving Aussie equities this week?
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Anthony Moran: what’s driving Aussie equities this week?
Crispin Murray: What’s driving the ASX this week?
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Crispin Murray: What’s driving the ASX this week?
What’s driving ASX stocks this week?
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What’s driving ASX stocks this week?
ASX outlook: What’s driving Aussie equities this week
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ASX outlook: What’s driving Aussie equities this week
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