As we have discussed, investors will be watching the current earnings season as closely as ever, as the market looks for stronger profit results to support share price gains. We outline our key takeaways from earnings season so far.
At the half way mark of results, across Australia and NZ both markets are little changed since the start of the month (with the ASX 200 market index down approx. -1%, and the NZX 50 market index up approx. +1%). Given the market rally heading into earnings season, corporate profits were going to be especially important to support share prices. Looking at the AU/NZ markets as a whole there seems to be no more bad news than normal, but fewer positive surprises, which has resulted in relatively muted share price moves for the AU/NZ markets overall. It is worth noting that in Australia consensus earnings expectations were at their lowest level since the GFC, so large earnings misses weren’t expected, despite the softer economic environment.
Across...
Stock Markets, Simplified.