Fund Status:
Portfolio Val: $1,182,391
Performance: Portfolio +0.52% | Benchmark +0.67%
Cash: $107,175
Bought/Sold None
Overnight Markets
US markets were a mixed bag overnight, with tech mega caps pulling the S&P 500 and Nasdaq lower while defensives and cyclicals rallied. Gold was flat while oil sank as Iran blacklisted 45 tankers for breaching its Strait of Hormuz transit rules, threatening fines, detention and cargo confiscation. Meanwhile, Canada and the US are trading tit for tat tariff blows. Specifically, the US announced tariffs on all Canadian cars, trucks, auto parts and steel will rise to 50% while Canada’s retaliatory tariffs target US steel, dairy, appliances, agricultural equipment and others.
Australian Market
Despite the global noise from the US, the ASX 200 gained +0.68%. Tech initially fell in the morning but then ended as the best performing sector (+2.25%). Almost all sectors were positive today, with only Energy (-0.78%) and Real Estate (-0.11%) lagging behind. As reporting season continues, we are seeing the market focus on forward looking statements over any earnings beats. For example, MND which posted a record FY26 numbers. Namely, revenue up 31.5% to $2.98bn, NPAT up 52.1% to $127.3m and EBITDA up 42.9% to $226.0, with a margin of 7.58%. Despite this, the stock is down as the market focused on management’s cautious outlook. Strikes as a “sell the news” moment again.
Portfolio Commentary
The portfolio delivered a solid session overall, up +0.52% while the ASX300 rose +0.67%. Gains in JDO (+6.74%), Zip (+5.56%), and LOV (+5.15%) added meaningfully. As mentioned, MND sank -11.96%, which dragged the portfolio. We also saw selling in gold names OBM (-5.37%) and PC2 (-1.75%).
Investment Activity
None
Disclaimer: This is a paper portfolio. Content is for educational purposes only and does not constitute financial advice. Always do your own research.