Investment Matters

What matters this week

The first thing is to look at the big stocks (i.e. Twenty Leaders) that had a soggy week.

Investment Matters usually struggles to find big stocks that rise or fall by 5% or more in a week.  But this week is a busy week.

Each of the major banks fell by about 5%, with Westpac the biggest loser (-5.18%).  CSL also fell 5%.  QBE and Suncorp came close at -4.9%.

Scentre Group is the only Twenty Leader stock with a positive return this week: +0.2%.

FYTD, its easy to see why the overall market will struggle to reach double figures, even including dividends.  Of the Twenty Leaders, only Wesfarmers, Brambles, Westfield, Scentre and Transurban have positive returns.  And these are the smaller of the Twenty Leaders.

BHP; ANZ; Woodside; NAB; Woolworths and Rio have all fallen over 20% this FYTD.  With CBA not far behind at -15%.

Of other stocks, the big news was all about Crown Resorts splitting itself.  The deal is complex, but Investment Matters can only ponder that James Packer will somehow come out comfortably ahead.  The stock ended up almost 10% for the week.

Virgin Airlines, having sorted out its share register last week, this week announced it will raise some $850m in additional equity capital.  The shares fell 12% on the news.