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Weekly ASX 200 Highlights: Trends in Highs and Lows
Welcome to this week’s edition of our 52-Week Series, where we analyse the latest S&P/ASX 200 stock movements, identifying those that have reached fresh yearly highs and lows. Monitoring these stocks is a vital method for uncovering emerging market trends across different sectors.
When a significant number of stocks within a sector hit new highs or lows, it typically indicates strong underlying market forces at play. These can include shifts in commodity prices, evolving demand trends (including advancements in AI), transitions into defensive sectors, or companies exceeding or falling short of earnings forecasts.
52-Week Highs and Lows by Sector
- Real Estate: 12 Highs, 0 Lows
- Materials: 10 Highs, 0 Lows
- Financials: 9 Highs, 0 Lows
- Industrials: 8 Highs, 0 Lows
- Discretionary: 7 Highs, 0 Lows
- Health Care: 2 Highs, 0 Lows
- Energy: 2 Highs, 0 Lows
- Staples: 2 Highs, 0 Lows
- Technology: 0 Highs, 5 Lows
- Utilities: 0 Highs, 1 Low
- Telecommunications: 0 Highs, 2 Lows
Analysis of Recent Market Data
Last week showcased robust market breadth, with 52 stocks in the S&P/ASX 200 (26%) reaching new yearly highs, while the broader index saw a mere 0.06% increase. The Real Estate sector has shown particularly strong performance, evident from the number of stocks that have reached new yearly peaks.
Commodities are on an upward trajectory, reflecting significant appreciation in gold prices, nearing the US$3,000 per ounce mark. Gold miners are reporting substantial year-on-year earnings growth. Rare earth stocks, including Iluka, remain close to recent highs. Meanwhile, Lynas recently raised $750 million to support development initiatives, and copper stocks like Sandfire continue to display robust growth despite subdued copper prices.
The Financials sector also continues to thrive. Recently, Macquarie reported that Financials enjoyed the most successful reporting season to date, outperforming expectations by 2.5%, highlighting a considerable shift within the sector. While CBA trades approximately 9-12% below its late June high, other major banks have soared to fresh yearly highs.
Conversely, firms delivering disappointing earnings reports, such as Guzman Y Gomez, Sonic Healthcare, and Inghams, find themselves trending downwards.
Outstanding Performers at 52-Week Highs
Real Estate Sector
| Ticker | Company | Close | 1 Week | 1 Year |
|---|---|---|---|---|
| CHC | Charter Hall Group | $23.43 | 0.0% | 80.7% |
| SGP | Stockland | $6.20 | -3.1% | 74.7% |
| SCG | Scentre Group | $4.08 | 2.8% | 41.7% |
Materials Sector
| Ticker | Company | Close | 1 Week | 1 Year |
|---|---|---|---|---|
| RMS | Ramelius Resources | $3.17 | 10.5% | 331.3% |
| WGX | Westgold Resources | $3.44 | 6.8% | 290.9% |
| SFR | Sandfire Resources | $12.52 | 4.3% | 211.6% |
Financials Sector
| Ticker | Company | Close | 1 Week | 1 Year |
|---|---|---|---|---|
| GDG | Generation Development Group | $6.90 | 9.7% | 416.9% |
| ZIP | Zip Co | $4.26 | 13.6% | 384.1% |
| HUB | Hub24 | $109.06 | -0.3% | 374.8% |
Industrials Sector
| Ticker | Company | Close | 1 Week | 1 Year |
|---|---|---|---|---|
| ASB | Austal | $7.77 | 14.1% | 203.5% |
| QAN | Qantas Airways | $11.75 | 4.0% | 126.0% |
| BXB | Brambles | $25.95 | -0.1% | 111.2% |
Current Underperformers at 52-Week Lows
| Ticker | Company | Close | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
| GYG | Guzman Y Gomez | $25.24 | Discretionary | 6.5% | -29.4% |
| SHL | Sonic Healthcare | $24.05 | Health Care | -2.2% | -28.7% |
| REH | Reece | $11.16 | Industrials | -20.7% | -28.2% |
In summary, the ASX 200 continues to exhibit notable sector-specific trends, suggesting a vibrant market landscape driven by distinct growth narratives, particularly within real estate and materials, contrasted against pockets of weakness in technology and some consumer segments.
