Sky TV rose 6.0 per cent, with the announcement of the expansion of a long-term relationship with WarnerMedia. "The deal ensures that Kiwis will continue to enjoy WarnerMedia content and additionally have access to HBO Max content on Sky's platforms." Investors responded favourably to this announcement yesterday following Sky's full-year results released last week.
Cancer diagnostics company Pacific Edge had its best day in four months, gaining 4.5 per cent. It was announced that Pacific Edge has applied for ASX dual foreign exempt listing, expecting to be dual listed on the ASX by the end of September.
Financials fell 0.9 per cent and the consumer-cyclicals sector declined by 0.5 per cent.
ANZ lost 1.2 per cent and SkyCity fell 0.9 per cent. The SkyCity decline is likely related to the extension of level 4 lockdown in Auckland.
International markets:
US:
US markets were gaining momentum this morning as the S&P 500 and Nasdaq traded toward their twelfth record high this month, up 0.6 and 1.0 per cent respectively. The DJIA remains unchanged on yesterday's close.
Sector gains include consumer discretionary and technology, each leading the way with 1.2 and 1.1 per cent increases.
These sector gains were well supported by the single stock winner PayPal Holdings. The digital payment company advanced 3.5 per cent at the time of writing after announcing it was exploring ways of allowing customers to trade stocks on its online platform.
Furthermore, PerkinElmer moved 3.2 per cent to a record high as the lab testing company was likely boosted after increased Covid-19 cases were reported over the weekend. Apple also finished amongst the winners, up 3.1 per cent.
In contrast, downward pressure on indices was drawn from sector losses for financials (down 1.1 per cent) and energy (down 0.5 per cent).
The greatest underperformer at the time of writing was Capital One Financial Corp, which slumped to a 5.4 per cent loss. The financial services company goes ex dividend tomorrow. Synchrony Financial and United Airlines also struggled in this morning's session, down 4.2 and 3.9 per cent.
Rest of the world markets:
Main Asian indices finished higher at the close, the Hang Seng, Shanghai Composite and the Nikkei all made gains of 0.5, 0.5 and 0.2 per cent, respectively.
News reports out of Beijing this morning includes the Government potentially restricting under 18-year-olds from playing any more than three hours of video games per week. The larger household gaming equities traded lower in response to the news. Most notably, Blizzard and Roblox were down 1.8 and 4.1 per cent at the time of writing.
Commodities:
Amongst the commonly tracked commodities, gold was down 0.4 per cent from a four-week high yesterday, now trading at US$1809.8 per ounce. Similarly, the US 10 year fell slightly, now priced at 1.29 per cent.
It has been a quiet 24 hours for cryptocurrencies. Bitcoin traded lower by 1.0 per cent to US$48,336.9, while Ethereum rose 2.5 per cent to US$2500.
Australian markets:
The ASX 200 started the week off with a 0.2 per cent gain.
However, most sectors were underperforming. Consumer discretionary and utilities were booking the biggest losses, down 1.0 and 0.8 per cent, respectively. Materials was the main contributor pushing the market higher, increasing by 2.8 per cent, followed by the energy sector, up 0.7 per cent.
Funeral provider, InvoCare (+8.7 per cent), was the best performer, after reporting its half-year 2021 results yesterday. Statutory revenue grew by 13.0 per cent to AU$260.9 million and earnings per share jumped by 57 per cent to 14.4 cents. The company also announced an interim dividend of 9.5 cents per share.
PolyNovo was the second-best performer of the day, increasing 7.5 per cent. The medical device producer recovered some of the losses made last week. Rounding out the top performers of the ASX 200 were mining companies Fortescue Metals Group (+6.6 per cent) and South32 (+6.2 per cent), joined by lithium producer Pilbara Minerals, up 6.3 per cent.
Fortescue reported its 2021 financial year full-year results, stating a net profit after tax of US$10.3 billion and a 103.0 per cent increase in total dividends to AU$3.58 per share.
Altium shares plummeted 14.3 per cent, despite the software developer's strong 2021 full-year results release. The company's revenue grew by 6.4 per cent to US$180.2 million and profit after tax was up 79.0 per cent to US$35.3 million.
Nuix also underperformed, dropping 10.8 per cent, after a weak 2021 full-year results release yesterday. Revenue grew by 0.1 per cent over the last year to AU$176.1 million, while the annualised contract value decreased by 1.7 per cent to AU$165.6 million. Shares closed at AU$2.56, well below its 52-week high of AU$11.85.
Medical services provider Healius (-7.3 per cent) rounded out the greatest underperformers, also after the release of its 2021 full-year report. The company announced 22 per cent growth in revenue to AU$1.9 billion and an increase of underlying net profit after tax by 179 per cent, slightly below analyst consensus forecasts.
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Disclaimer: This Morning Brief has been prepared in good faith and reflects opinions and views at the time of publication, using external sources, systems and other data and information we believe to be accurate, complete and reliable at the time of preparation. We make no representation or warranty as to the accuracy, correctness and completeness of that information, and will not be liable or responsible for any error or omission. This Morning Brief is not to be relied upon as a basis for making any investment decision. Please seek specific investment advice before making any investment decision. Jarden Securities Limited is an NZX Firm, a broker disclosure statement is available free of charge at www.jarden.co.nz. Jarden is not a registered bank in New Zealand. Full disclaimer available at: https://www.jarden.co.nz/limitations-and-disclaimera>
