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Australian reporting season off to a ‘mixed’ start

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  • August 14 2017
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Invest

Australian reporting season off to a ‘mixed’ start

By
August 14 2017

Early financial performance reports from companies listed on the ASX paint a varied picture, according to a global bank and investment firm.

Australian reporting season off to a ‘mixed’ start

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By
  • August 14 2017
  • Share

Early financial performance reports from companies listed on the ASX paint a varied picture, according to a global bank and investment firm.

ASX, UBS, share market, equity market, ASX200, small-cap, large cap, market trends

Results for the first 26 companies to report on their performance (representing roughly 15 per cent of the ASX200’s listings) got off to a “somewhat inauspicious start”, UBS noted in a report.

“The last couple of days have delivered some good results, however, we would still describe the trend to date as mixed,” the company said.

UBS added that the results released so far suggest “a corporate backdrop of moderate earnings growth and a moderate growth outlook”, and that large-cap stocks appear to be doing better than their small-cap peers.

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“Surprises, both positive and negative, seem quite stock-specific in nature at this stage. The better performance of large-cap versus small-caps is the clearest trend to emerge so far,” the company said.

ASX, UBS, share market, equity market, ASX200, small-cap, large cap, market trends

“We would also note relatively subdued market reactions to incremental capital management announcements so far.”

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