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Need 4 Speed Read - ASX Report - 01/12/22

ASX trading

G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst! 

For real-time up-to-date data/news/research/ideas/strategies, check out our insights panel on the CMC Markets Invest platform and follow us on Twitter: 

Azeem Sheriff - @Azeem__Sheriff 
Tina Teng - @Tinateng_CMC
CMC Markets ANZ - @CMCMarketsAUSNZ
CMC Markets Singapore - @CMCMarketsSG
CMC Markets Canada - @CMCMarkets_CA

Trading Idea of the Day

ASX:FLT - Flight Centre (BULLISH - long term & BEARISH - short term)

  • Key levels on the chart - consider taking trades from key support/resistance zones.
  • Flight Centre's corporate travel segment has returned to pre-covid form
  • Management said they expect to see a 'significant second half profit improvement' underpinned by strong top-line growth and greater stability in supply chains.
  • Leisure bookings remain subdued, impacted by the 'lack of competition and spare capacity'
  • Revenue margins forecast to remain below pre-covid levels for FY23
  • A meaningful recovery in international capacity is projected for the near-term, with capacity "likely to be back to circa 70% of pre-COVID levels by December and approaching 90% by mid-2023."

ASX & Economic Key Events

ASX Key Events Calendar (TODAY)

Economic Key Events (TODAY)

Economic Key Events (YESTERDAY)

OPTO For Investors Research

Article of the Day: Pinduoduo and Bilibili share prices rise on the back of earnings

Podcast of the Day: Michael Loukas of TrueMark on why diversification isn’t always key

APAC Daily Report

Click here to access our daily APAC report, prepared by my fellow market analyst @TinaTeng_CMC

Market Snapshot & Highlights as of 8:00am AEDT

EXPECTATIONS: Energy HIGHER (higher oil prices) & Materials HIGHER on overall commodity prices.

Global Markets Headlines

(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)

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