Recovery In Dow Jones Supported ASX Indices

On May 14, 2021, ASX indices recovered after a sharp decline after Dow jones ended in green. In the week ended 8th May, the advance figure for the seasonally adjusted initial claims stood at 473,000, reflecting a decline of 34,000 from the previous week’s revised level. 

Notably, ASX 200 surged by 31.50 points or 0.45% to 7,014.20. As can be seen from the below table, ASX 300 also increased by 0.44% to 7,002.30 while ASX MIDCAP50 soared by 0.56% to 8,472.90.

Data Source: ASX; Table Source: Copyright © 2021 Kalkine Media

ASX Midcap 50 Outperformed Rest of Indices

ASX 200 Index managed to close at 7,014.20, reflecting ~31.63% growth in 1 year. Also, ASX Midcap 50 Index and ASX Small Ordinaries Index settled at the levels of 8,472.90 and 3,179.90 points, respectively. Therefore, it could be said that the ASX Midcap 50 Index and ASX Small Ordinaries Index have performed better as compared to the broader market (ASX 200 Index).

Source: Refinitiv, Thomson Reuters

Gainers and Losers

On 13th May 2021, Treasury Wine Estates Limited (ASX: TWE) released presentation in which it stated that it anticipates FY 2021 EBITS to be between $495 Mn- $515 Mn.

On 13th May 2021, Orica Limited (ASX: ORI) released half-year results presentation in which it stated that emphasis is on disciplined approach towards capital expenditure. Its liquidity position was robust with $1.9 Bn of available liquidity.

Data Source: ASX; Table Source: Copyright © 2021 Kalkine Media  

Movements on Wall Street

On 13th May 2021, NASDAQ Composite Index increased 0.72% to 13,124.99. Notably, Dow Jones Industrial Average rose 1.29% to 34,021.45.  

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