What matters this week
In a week notable for central bank decisions (Japan = radical, USA = on hold but likely to increase rates this year), there were a few company tit-bits of note.
The ASX had a wobbly start to the week, with a delayed opening, technical problems through the day, then an early close on Monday. There were frustrated traders and stockbrokers, and logically, frustrated clients.
However, the market didn't penalise ASX's share price - down only a little over 1% for the week.
It was a week of note for results from retailers. Kathmandu grew sales 4%, and net profit 64%. Operational improvements and "careful management of promotional activity" (aka fewer sales with less discounts, along with better inventory management) swung the profit line substantially.
Not to be outdone, Premier Investments achieved record revenue - over $1 billion. This flowed through to net profit of $104m, up 18% on the prior year. Overseas expansion of the fashion stationary business Smiggle drove the sales increase, along with sales of PJs (Peter Alexander).
Looking at the big and ugly stocks, the Twenty Leaders had a good week, led by BHP and RIO, each of which rose by over 5%.
The BHP spin-off South32 also had a good week, up almost 6%. South32 is on a roll. Look how it has performed since it was spun-off in May-15, riding down with the negative commodity prices and then rallying strongly as its value is realised.
South32: on a roll