What's happening in markets? Tuesday 19 February
China freeze $1.5B in illicit assets amid financing crackdown; Andrew Clifford discusses the challenges of following Kerr Neilson; and report shows large Australian companies failing to appreciate the risks of climate change. Here’s what’s happening in markets today.
What I'm reading
Chinese crackdown heats up
Chinese authorities have been stepping up their game against illicit financing and capital flight recently. Most recently, $1.5B worth of peer-to-peer assets were frozen in operation “Fox Hunt”, which spanned 16 countries and regions.
A tough act to follow
Kerr Neilson was one of Australia’s most well-known and successful investors, but it’s been a tough start in the top job for his successor, Andrew Clifford. In this interview with Fairfax, he discusses some of the stocks he’s betting on to turn his fund’s performance around.
43 percent of top 100 companies don’t recognise climate risks
A new report from Market Forces reveals that almost half of the biggest companies in Australia do not even recognise climate change as a material business risk.
Stocks to watch
At the time of writing, the following companies have released earnings reports today:
- NZME (NZM)
- Heartland Group Holdings (HGH)
- Generation Development Group (GDG)
- APN Industria REIT (IDR)
- SG Fleet Group (SGF)
- Emeco Holdings (EHL)
- Virtus Health (VRT)
- Beacon Lighting Group (BLX)
- The Citadel Group (CGL)
- Cochlear (COH)
- Blackmores (BKL)
- Seven West Media (SWM)
- Sealink Travel Group (SLK)
- Senex Energy (SXY)
- Saracen Mineral Holdings (SAR)
- Sandfire Minerals (SFR)
- Mount Gibson Iron (MGX)
- Monadelphous Group (MND)
Key market data
- ASX Futures: 6,048.5 (-0.27%)
- AUD/USD: 0.7130 (-0.21%)
- ASX200: 6,089.80 (+0.39%)
- S&P 500: 2,775.60 (+1.09%)
- China A50: 11,864.75 (+2.62%)
- Australia 2-yr bond: 1.788 (+0.56%)
- Australia 10-yr bond: 2.136 (+0.47%)
- US 2-yr bond: 2.518 (+0.88%)
- US 10-yr bond: 2.664 (+0.34%)
- Gold (USD/oz): 1,329.70 (+0.41%)
- Copper (USD/lb): 2.836 (+0.71%)
- Brent Oil (USD/bbl): 66.52 (-0.03%)
- 62% Iron Ore (USD/t): 88.1 (+0.57%)
Upcoming events and releases
- RBA Board Meeting Minutes are released at 11:30am AEST
- Westpac's Leading Index for January is released tomorrow at 11:30am AEST
- The Australian Wage Price Index for Q4 is released tomorrow at 11:30am AEST
- Australian employment data is released on Thursday at 11:30am AEST.
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Patrick is the founder and director of PLP Finance Media, a content production and strategy consulting agency specialising in investment content and communications.
Patrick was a Market Analyst, Editor, Senior Editor, and Managing Editor at Livewire Markets between 2015 and 2022. He was the Content Director and a member of the Investment Strategy & Research Group at Betashares between 2022 and 2024. He is an expert on listed products, commodities, and investment strategy, with a particular interest in gold and uranium,.
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Patrick is the founder and director of PLP Finance Media, a content production and strategy consulting agency specialising in investment content and communications. Patrick was a Market Analyst, Editor, Senior Editor, and Managing Editor at...
Expertise
Patrick is the founder and director of PLP Finance Media, a content production and strategy consulting agency specialising in investment content and communications. Patrick was a Market Analyst, Editor, Senior Editor, and Managing Editor at...
Expertise
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