Weekly Wraps

  • FINSOC Weekly Wraps Vol.20image preview for post

    FINSOC Weekly Wraps Vol.20

    Released: 09-09-2021

    • NSW recorded 319 new cases of COVID-19 on Saturday. Scott Morrison has announced that those who have lost work due to restrictions will be able to claim a maximum of $750 per week from the COVID-19 Disaster Payment.
    • US-based Fintech company Square, acquired BNPL giant Afterpay for A$39 billion.
    • The ASX 200 saw a weekly gain close to 2%. Most sectors improved, led by the IT sector which boasted a 13.69% weekly gain.
    • News Corp. purchases digital data provider Oil Price Information Service (OPIS) for US$1.15 billion.

  • FINSOC Weekly Wraps Vol.19image preview for post

    FINSOC Weekly Wraps Vol.19

    Released: 09-09-2021

    • NAB has announced a planned $2.5 billion share buy back estimated to increase the bank’s ROE by 40 basis points.
    • Scott Morrison has set a national adult vaccination target rate greater than 70% as part of its 4 phase plan to address the pandemic.
    • Bitcoin ended the week on a 10 day winning streak, its longest since 2013.
    • Volkswagen is in talks to repurchase Europcar in a deal worth $US3B to expand services to car rentals.
    • Robinhood’s IPO debuted at $US38 on the NASDAQ earlier this week.

  • FINSOC Weekly Wraps Vol.18image preview for post

    FINSOC Weekly Wraps Vol.18

    Released: 30-07-2021

    • The NSW’s COVID-19 outbreak was declared a “national emergency”, marking the highest reported cases in more than a year.
    • The Star has retreated from its $12 billion merger proposal for Crown Resorts citing uncertainty surrounding the royal commissions of the entertainment group.
    • ASX 200 moves upwards steadily, increasing 0.63% this week.
    • Zoom Video Communications Inc. makes deal to buy cloud-based call centre operator Five9 Inc in an all-stock deal worth $14.7 billion.
    • Richard Branson and Jeff Bezos helmed the first two privately funded launches to suborbital space in the past month.

  • FINSOC Weekly Wraps Vol.17image preview for post

    FINSOC Weekly Wraps Vol.17

    Released: 22-07-2021

    • RBA announces to keep interest rates on hold at record low level of 0.1% until 2024
    •OPEC rile over oil production curbs remains unresolved, with talks to resolve disagreement postponed indefinitely since Monday
    • ASX falls as investors retreat from risky assets due to current delta variant COVID outbreak, fearing that economic recovery could stall.
    • Tech stocks perform the worst this week, with Appen dipping 9% and Xero falling 2.4%.
    • Dogecoin falls 7% after Youtuber and dogecoin investor Matt Wallace announces intention to move away from Dogecoin.

  • FINSOC Weekly Wraps Vol.16image preview for post

    FINSOC Weekly Wraps Vol.16

    Released: 22-07-2021

    • Australia underperformed against global equities by 9.6% in 2021. The Communication services sector gained 3.25%, while Utilities fell by 3.87% over the week
    • Binance has been subject to intense regulatory scrutiny
    • For the first time Ethereum has overtaken Bitcoin’s number of daily active addresses
    • Stockland is closing in on a deal to add Queensland lifestyle villages group Halycon to its retirement living portfolio
    • Morrisons has agreed to a 6.3 billion pound takeover deal by Fortress Investment Group
    • Carpentria Resources has raised AU35.6 million to fund a banking feasibility study for its flagship

  • FINSOC Weekly Wraps Vol.15image preview for post

    FINSOC Weekly Wraps Vol.15

    Released: 22-07-2021

    • COVID case spikes result in 4 LGAs (Sydney, Randwick, Waverly, Woollahra) to lockdown, followed by a subsequent lockdown of Greater Sydney
    • The ASX falls 0.83% this week. With the impending full lockdown, it could fall more
    • Bitcoin nears $AU40,000. If mid-term EMAs cross below long-term EMAs, it would confirm a bearish market for Bitcoin
    • Tech stocks gained the most over the week with the tech sector lifting 3% and Afterpay rising 12.9%
    • Australian sports analytics company Catapult plans to acquire UK rival SBG Sports Software for $53 million. The acquisition will allow Catapult to improve services via SBG’s video and data analysis services

  • FINSOC Weekly Wraps Vol.14image preview for post

    FINSOC Weekly Wraps Vol.14

    Released: 22-07-2021

    • Federal Reserve Officials expect the central bank to begin raising interest rates next year, forecasting 2 hikes by 2023
    • Scott Morrison and Boris Johnson have agreed to sign an in-principle agreement towards a free trade deal
    • Bitcoin remains relatively resilient despite the US Federal Reserve announcing plans to increase interest rates twice in 2023 addressing fears of inflation
    • Woolworths stock fell 1.6% after allegations of wage underpayments from the Fair Work Ombudsman
    • JP Morgan has agreed to buy the online investment management platform Nutmeg, moving in line with its strategy to establish a standalone digital bank brand in the UK this year

  • FINSOC Weekly Wraps Vol.13image preview for post

    FINSOC Weekly Wraps Vol.13

    Released: 13-06-2021

    – Technology stocks lead ASX to reach a record high of 7312.3 points – Bitcoin bounces back from its lowest price since May – Meat and food processing giant JBS Australia rights a $175m deal to purchase Rivalea Australia – Top performers of the market for this week are Materials and IT, followed by Energy and Health Care sectors – Australia’s AAA credit outlook from changes from negative to neutral, reflecting Australia’s strong economic recovery credited to massive fiscal and monetary stimulus.

  • FINSOC Weekly Wraps Vol.12image preview for post

    FINSOC Weekly Wraps Vol.12

    Released: 06-06-2021

    • Australia’s economy’s exceeds expectations, at 0.8% larger than its previous peak pre-COVID. • The resources sector demonstrates immunity to economic challenges faced by other sectors, contributing to Australia’s trade surplus of more than $8b. • Bitcoin has taken a fall after Tesla CEO Elon Musk’s comments on Twitter suggesting he has “fallen out of love” with the world’s top cryptocurrency. • US e-commerce site Etsy has acquired popular peer-to-peer social shopping app Depop for A$2.1b.

  • FINSOC Weekly Wraps Vol.11image preview for post

    FINSOC Weekly Wraps Vol.11

    Released: 25-04-2021

    – Credit Suisse raises $2.6b to manage the collapse of Archegos Capital Management which lead to ~$6b in losses.- The ASX 200 comes out with a 0.08% gain after a substantial mid-week dip.- Joe Biden called for an increased capital gains tax rate for investors earning >US$1mil.- Lithium miners Orocobre Limited and Galaxy Resources Limited have agreed to merge with a combined value of $4 billion to attract global institutional attention.