Weekly Wrap

Market Update

Calendar Icon   Friday, 13th August 2021

ASX 200 Index (XJO)

The XJO 200 has again surpassed its highest mark this week rising to 7631 points. Currently the market is sitting at 7623, up 35 points for the day.

The market has been stronger as we have entered the second week of the reporting season with notable companies reporting, including Suncorp Group, James Hardie, AMP, Insurance Australia, Challenger, Commonwealth Bank and Telstra.

XJO Chart

Commonwealth Bank

CBA:ASX

Commonwealth hit an all-time high of $109.03 after the bank reported NPAT of $8.7bn for the year ending 30 June 2021. The bank announced an off-market buyback of up to $6bn and a $2 dividend being declared. They go XD on Tuesday 17 August.

The share price has risen from a 52 week low of $62.64 in late September last year.

CBA Chart

AMP

AMP:ASX

AMP has been under pressure ever since the Royal Commission in 2018. The last twelve months have not been kind to AMP, with a sexual harassment scandal damaging both the brand and share price.

AMP reported a Net profit of $146 million down 28% with no dividend being declared.

AMP Chart

Telstra

TLS:ASX

Telstra reported a $1.9bn profit, up 3.4% and declared a 8c dividend going XD on the 25th August. The company also announced an on market buyback totalling $1.35bn.

The share price has risen to a four year high of $4.02.

TLS Chart

Reporting season continues…

Keep a close eye on the markets next week, as we have some of the larger companies listed reporting. The likes of BHP, JB Hi-Fi, Lend Lease, Woodside, Santos, ASX, Newcrest Mining, Amcor and Coles will all reporting their end of year results.

Please call the desk on 1300 886 103 if you wish to speak about your portfolio or would like additional information.