Bravura Spikes +15.1% on Earnings Upgrade & Gold Names Rebound
Paper Mandate Market & Portfolio Commentary | 10 July 2026
Fund Status:
Bal Start: $1,147,628
Bought None
Sold: None
Bal End: $1,157,078
Cash: $152,246
Overnight Markets
The US market overnight was positive, with the Tech sector leading (+1.65%) in both hardware and software. Small caps are also seeing their time in the sun (Russell 2000 +1.22%). Middle East tensions continue to pull the oil price down with gas futures following. Gold, meanwhile, finds some support, rising +1.43%. Everyone is talking about SK Hynix’s oversubscribed IPO for Friday. All aboard the hype-train. US jobless claims fell to 215k (v 218k est) below consensus, showing a relatively resilient job market.
Australian Market
At close, the ASX200 finished up +0.50% led purely by Materials (+2.32%) as our largest sector. Meanwhile Healthcare snake -1.96% led by the large cap names. Pleasingly Bravura (BVS) announced their results in advance, showing them beating guidance by a healthy margin. The stock jumped +14.4%.
Interestingly, SkinKandy share price has rallied 16% since IPO, a change of pace from the performance of other recent IPOs (Koala down -20% since IPO).
Portfolio Commentary
The portfolio gained +0.82%, outpacing the ASX 300 benchmark (+0.50%). Today’s performance was driven by the breakout of Bravura (+15.12%), triggered by an earnings update, where management upgraded FY26 cash EBITDA guidance by 10% to $77m. Our exposure to gold also contributed meaningfully today: PC Gold (+7.08%) and Ora Banda (+5.16%) gained alongside Chrysos (+6.79%). Detractors were Cobram Estate (-2.67%), Lovisa (-1.38%), and XRO (-1.26%).
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.