foot on the gas 🏎️ - a podcast by ausbiz
from 2022-03-24T07:24
Markets are like watching a windscreen wiper, where resources and tech vie for biggest gainer position on alternate days. Today, it was resources up and tech down.
Utilities and energy names featured in the top ten as oil and natural gas surged on fresh supply risks from Russia. While the likes of Zip, Telix Pharma and City Chic made up a mixed bag of laggards. Fisher & Paykel slid again, as brokers downgraded the outlook after yesterday’s update. In contrast, investors embraced the JB Hi-Fi update, so it added 4.5% despite no concrete forward guidance. In a bifurcated day - just as many broader indices rose and fell - the S&P/ASX200 closed all-but unchanged but bucking a negative lead from Wall St, adding 9 points.
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