Good afternoon, thanks for joining me, James Preston with you on Kalkine for the Last Trade
– let’s see how the ASX finished up for April 26. The ASX has endured a difficult
Tuesday dropping 155.30 points or 2.08% and setting a new 20-day low. The bottom-performing
stocks in this index were EML Payments down 38.01% and SIMS, down 9.63%. Over the last five
days, the index has lost 3.27% and 3.87% over the last 52 weeks.
[N] As for newsmakers, Australian oil and gas and LNG company Woodside Petroleum has
released its first-quarter report for the period ended 31 March 2022 on the ASX. Oil
production was down 1% from the previous quarter but delivered sales volumes were higher. According
to Woodside, the Russia-Ukraine war, western sanctions and supply shortages have pushed
the average realised price per barrel of oil equivalent higher. Woodside’s share price
has lost over 5% today in the early trade hours, adding to last month’s loss. However,
its share price is still just AU$4.13 per share above its 52-week low price.
The shares of beverage firm, Bubs Australia traded 7.76% lower at AU$0.45 per share on
the ASX today. Despite announcing a strong quarterly report for the third quarter of
fiscal year 2022, the company’s stock has dropped today. In a year, the company’s stock has
climbed 7%. Bubs Australia has fallen 4% on year-to-date and 11% in the last six months.
Recently, the stock’s performance has not improved significantly, declining 4% in five
days.
The share price of Airtasker jumped today, after the company shared a solid set of numbers
in third-quarter results. The shares gained 16.67% on the ASX to AU$ 0.56 per share. Today,
Airtasker has outperformed its benchmark index, ASX 200 Communication which has dipped by
0.72%. This small-cap ASX stock has surged by 10.89% in the last five trading sessions,
including today’s gain. Year-to-date, shares have declined by 34%, and in the last six
months, share prices have dropped by 49.55%. Since the listing of Airtasker on ASX, the
shares have fallen by 60%.
And now, before we wrap up for the day, lets glance at the mining space.
Iron ore prices fell sharply recently amid growing concerns over demand as China's COVID-19
crisis continues to worsen. The most-traded iron ore on China's Dalian Commodity Exchange
for September delivery tumbled 10.7% to 795 yuan which is equivalent to US$121.36 a tonne,
the lowest closing price since 23 March 2022. The worsening COVID-19 scenario in China paints
a downbeat outlook for near-term consumption. Despite weak supplies, major global miners
such as BHP and RIO are holding on to their guidance for full-year production. Mining
stocks are also facing challenges due to weakness across a range of commodity prices. In the
Fiscal Year 21, BHP clocked a revenue of AU$56.92 billion and a net profit of AU$11.3 billion.
Its stock was trading at AU$45.97, down 5.20%. The stock is down nearly 10% in the past month. Fortescue
Metals Group stock was trading at AU$19.85, down 6.46%. The stock has risen over 2% in
the past month. Rio Tinto stock was trading at AU$109.36, down 3.74%. The stock has dropped
over 7% in the past month.
That’s a wrap, folks. Hope you found the market closing commentary informative. We
will be back tomorrow, LIVE from Sydney at 9.30 in the morning with our first report
on the pre-market scenario along with the important updates from the global markets,
to prepare you for the trading day. That’s all for now. Take care and stay safe!