Tracking the Top 10 ASX 100 Stocks since March Market Crash

  • Aug 10, 2020 AEST
  • Team Kalkine
Tracking the Top 10 ASX 100 Stocks since March Market Crash

Summary

  • The market seems highly volatile in the present scenario with fear surrounding the second wave of COVID-19.
  • Though not at pre-COVID-19 levels, the market has significantly improved from the March low.
  • CBA entered a partnership with Square Peg and Zetta Venture to assist new banking ventures in AI, data, and analytics.
  • BHP was able to meet its full-year production for iron ore metallurgical coal and its operated copper and energy coal assets.
  • FMG delivered an outstanding operating performance in Q4 FY2020.

With the continuous rise in the COVID-19 cases in Australia, the market in the present times seems highly volatile. Out of the total COVID-19 cases reported in Australia, the maximum cases were reported from Victoria. Below is the image of COVID-19 stats as on 9 August 2020:

Looking at the performance of the market in March 2020, the S&P/ASX 100 index reached its lowest level on 23 March 2020 and settled at 3,782.76. From 24 March 2020, an improvement was seen in the market. However, to date, the market has not achieved its pre-COVID-19 levels. While the S&P/ASX 100 index was up 1.4% on 10 August 2020 (at 1:11 PM AEST) at 5,027.9, it is still some way short of the previous levels with a negative YTD return of ~10.5%. 

In this backdrop let us look at the performance of the top ten companies that are part of S&P/ASX 100 and see their recent update.

Source: ASX

Commonwealth Bank of Australia (ASX:CBA)

Commonwealth Bank of Australia, in its media on 28 July 2020, announced the appointment of two strategic partners to help provide new digital banking services to the  15 million retail and business clients of the Group.

  • CBA entered a partnership with Square Peg and Zetta Venture to assist new banking ventures in AI, data, and analytics.
  • CBA’s X15 Ventures unveiled Backr, which is an app to support small business owners to launch new digitally enabled businesses to support economic recovery.

CSL Limited (ASX:CSL)

CSL Limited recently announced the appointment of Mr Pascal Soriot as an Independent Non-Executive Director, effective 19 August 2020. By qualification, he is a Doctor of Veterinary Medicine and holds an MBA from the French Business School, HEC.

Plasma Industry Leader and CSL CEO Paul Perreault Request People to Donate Plasma:

On 30 July 2020, at the White House Roundtable, the leader of the plasma industry and CSL CEO Paul Perreault urged people to donate plasma who have recovered from COVID-19 plasma towards the development of a possible hyperimmune globulin to cure people suffering from severe complications from COVID-19.

BHP Group Limited (ASX:BHP)

BHP Group Limited recently released its operational review for the year ended 30 June 2020. The company was able to meet its full-year production for iron ore metallurgical coal and its operated copper and energy coal assets. On the other hand, petroleum production was marginally below the guidance with lower than anticipated gas demand as a result of COVID-19 impact in the June 2020 quarter.

Image Source: BHP's report

Westpac Banking Corporation (ASX:WBC)

Announcement to bring back 1,000 jobs in Australia:

On 29 July 2020, WBC announced that it would bring back nearly 1,000 jobs to Australia from abroad as it seeks to bolster the strength and resilience of its operations and improve support for clients.

Appointment of New Chief Operating Officer:

Westpac Banking Corporation, on 28 July 2020 announced the creation of new Group Operating Office. The objective was to bring together Group Operations and Group Technology. The company decided that this division would be led by Scott Collary, who joined Westpac from Bank of Montreal in Canada. Mr Collary was the Chief Information and Operations Officer for Bank of Montreal’s North American Personal & Business Banking, Private Wealth and Global Asset Management divisions.

ALSO READ: ASX Banks Losing their Mojo, what are Investors Moot Point?

National Australia Bank Limited (ASX:NAB)

National Australia Bank has embraced the 2020 Cyber Security Strategy by the Australian Government. NAB is playing an essential role in supporting the efforts made by the Federal Government to protect Australia from cyber threats.

The company, together with government co-operation is vital to improving capability, sharing intelligence & increasing knowledge to help protect people and businesses from cyber threats.

Fortescue Metals Group Ltd (ASX:FMG)

Fortescue Metals Group Ltd reports outstanding operating performance in Q4, contributing to record shipments for FY2020, reduced C1 costs plus improved revenue realisation.

Im age Source: FMG's report

Total Recordable Injury Frequency Rate declined improved by 14%, from 2.8 in FY2019 to 2.4 in FY2020. Cash on hand at 30 June 2020 was US$4.9 billion at 30 June 2020 with net debt of US$0.3 billion.       

Wesfarmers Limited (ASX:WES)

On 4 August 2020, Wesfarmers Limited updated on the impact of Victorian Government restrictions on its businesses. On 3 August 2020, the Victorian Government announced measures to restrict the spread of COVID-19 which includes the further restriction of retail trading activity from midnight on 5 August 2020 for another six weeks.

In this time frame, all the retail businesses of the Group will be continuing to operate online via home delivery and contactless click and collect options. Bunnings stores in the Melbourne metropolitan region can stay open for trade customers. However, it will be closed for in-store retail customers. Kmart and Target stores would not service customers in-store. Officeworks stores can continue to serve only business customers. It would be closed for in-store retail customers.

Australia and New Zealand Banking Group Limited (ASX:ANZ)

ANZ recently on 23 July 2020, conducted a research in which it found that nearly half young Australians financially impacted by COVID-19. The young citizens are experiencing the financial impact due to COVID-19. These fall under the age group of 14 years to 39 years.

Update on COVID-19 support package:

On 8 July 2020, ANZ provided an update on how it would work with its customers who are experiencing ongoing financial difficulty due to COVID-19. It includes the way ANZ would work with its customers to restructure their loans. In some case, it might extend the current deferral periods.

GOOD READ: An Uncertain Road to ASX Banks’ Dividends

Woolworths Group Limited (ASX:WOW)

On 4 August 2020, Woolworths Group announced that its 22 BIG W stores in metropolitan Melbourne would remain closed for six weeks starting from 5 August 2020 as per the implementation of Stage Four restrictions by the Victorian Government.

Under the Stage Three restrictions, Nine BIG W stores in regional Victoria will remain open for customer. Outside Victoria, the other 148 BIG W stores would continue to trade as normal. Under Stage Four restrictions, BIG W would be providing contactless in-store Pick-up services from all stores and presently offers Drive-up in 15 of the 22 impacted stores.

Macquarie Group Limited (ASX:MQG)

Macquarie Group Limited has provided an update on Q1 FY2021 for the quarter ended 30 June 2020. Below are the key points during the quarter:

  • Operating Groups influenced by the mixed trading conditions.
  • The operating Group net profit contribution in Q1 2021 was marginally down as compared to the previous corresponding period.
  • Financial position surpassed the minimum regulatory requirements.

FY2020 Highlights:

Image Source: MQG's Report

 


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There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

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