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ASX companies exhibit resilience in diverse sectors during reporting season
Invest
ASX companies exhibit resilience in diverse sectors during reporting season
The current reporting season has unveiled a notable resilience among ASX-listed companies across various sectors, according to Emanuel Datt, Chief Investment Officer at Datt Capital, an active equities investment manager.
ASX companies exhibit resilience in diverse sectors during reporting season
The current reporting season has unveiled a notable resilience among ASX-listed companies across various sectors, according to Emanuel Datt, Chief Investment Officer at Datt Capital, an active equities investment manager.
Datt underscored the continuing robust health of the Australian economy, which has fostered optimism among investors.
Datt highlighted the resilience in financial services, where companies have experienced lower than expected loss rates on loans, attributing this to more disciplined origination activities. Insurance companies have also seen benefits, boasting a strong uplift in premiums alongside modest loss rates, reinforcing the sector's stability.
The infrastructure sector's steadfast performance is playing a crucial role in upholding current valuations, indicating a continued reliance on this sector. Furthermore, the technology sector has become a focal point for mergers and acquisitions (M&A), with notable companies such as Altium Ltd (ASX:ALU), Ansarada Group Ltd (ASX:AND), and Whispir Limited (ASX:WSP) receiving recent takeover bids. "We expect to see more consolidation in this space," Datt mentioned, underlining the attractiveness of technology firms in the current market.
However, Datt also pointed out specific areas of vulnerability, particularly in certain resource commodities, suggesting not all sectors are experiencing uniform growth. Despite these challenges, Datt’s commentary suggests a strategic preference in Datt Capital's portfolios towards insurers, technology, and energy sectors, showcasing confidence in these areas' continued performance and growth potential.
This analysis comes amidst a backdrop of ongoing economic challenges globally, making the resilience of Australian companies a significant highlight of the reporting season, as investors and stakeholders closely watch developments in these key sectors.
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