We started with the Monthly and Long-Term selections and talked about the sideways movement in the market which has been happening for the past three months.
We then moved on to discuss the ASX Indexes for the End of Financial year 2022-2023 and noted that the ASX Midcap index had performed slightly better than several of the other indexes.
Looking at the ASX Sectors for the End of Financial year 2022-2023 there was a much wider range of performance. The Information Technology sector returned a gain of over 30% whereas the Materials and Resources Sectors showed a gain of 17%. At the other end of the scale the Health Care and Consumer Staples Sectors had returned less than 5%.
To complete this we looked at the charts of a few Information Technology and Materials shares.
On a slightly lighter note, we looked at what happens from 4pm to 4.11pm on the ASX. This informative piece came from Market Index on 23 July 2023, and included information about the Closing Single Price Auction which serves several key functions in the market.
After afternoon tea, Les spoke about Investment Opportunities with Net Zero in 2050. This presentation included charts showing where Uranium is mined and used in energy production around the world. The rising world price for uranium causing reopening of mines in Australia was shown. We saw charts showing the surprising decline in prices for critical metals used by renewables last financial year and this financial year. This implied lack of demand and increased supply by new entrants to the market, as forecast by The World Bank.
Margaret Jenkins & Les Rodgers