Provincial Wealth

10/07/2024

Are you looking for a position in administration? Provincial Wealth is looking for the right person to join our team!

01/10/2022

Deni Ute Muster is back after a 2 year Covid delay. Provincial Wealth was pleased to co-sponsor with Brian McCleary &Co the chairman’s reception. John Williamson guest speaker.
Great night one of entertainment. Good crowd & nice sunset. Missed the Angels. Looking forward to day & night two.

26/08/2022

A big thank you goes out to Rachel Braybon at Rachel Braybon Art for the amazing commissioned artwork 'Rural Stock Exchange', which now covers our big white wall in the Provincial Wealth office!

30/05/2021

Snippet from Not So Daily Bulletin No.396
Today, May 28 the ASX 200 closed up 85 points or 1.2% to a NEW ALL-TIME CLOSING HIGH of 7180 (all-time intra-day high of 7197 20/2/20).

After a brief sell-off last week due to the iron ore price reduction, the market has turned around and pushed higher to a new high on the same day as Victoria enters its 4th lockdown (7 days).

The market was driven by BHP and RIO reversing recent losses as well as CBA closing above $100 for the first time ever. Some of the brokers need to catch up as CBA is trading as the most expensive stock in the CORE Watchlist (30 stocks).

New highs are nice, we could see more as there is still a range of companies that are trading below the broker expectations with nine in the CORE still below the lowest brokers target price.

Hitting new ALL-TIME HIGHS (ATH) is something the US markets have been doing for 5 years and completed over 200 times, so the ASX shouldn't be fearful of hitting some more new ATH.

We are still Optimistic, but volatility is likely to persist.

30/04/2021

Snippet from Not So Daily Bulletin No.389
Today, April 30, saw the ASX 200 drop 57 points to finish at 7026. This is the highest closing month ever and beats January 2020 of 7017.

We are still a little way off the ALL-TIME HIGH, however, the next two weeks are likely to make or break regarding the ASX moving higher as the Banks start their half-yearly results next week and the Federal Budget is the following week.

If the Banks deliver, the market will move higher as it's better receiving a 4% dividend than a 0.4% interest rate.

The Big Technology companies in the US have certainly developed and we could see the US continue to push higher as the high valuations (PE's) have been exceeded by very strong profit results.

Last night, the US GDP grew by an annualised 6.4% for the 1st quarter (we would report it as 1.6%).

We are still Optimistic.

19/04/2021

Snippet from Not So Daily Bulletin No 386.
Today, April 19 saw the ASX 200 again rise slightly by 2 points to close at 7065. We are getting closer to the new ALL-TIME HIGHS (ATH) of 7197 (intraday high) and 7163 (closing high).

It seems the market is building towards it as we've had nine positive days out of the last 11, this month.

While virus numbers are still high globally with 800k new cases (near the highest level reached a couple of months ago), markets are still looking to the future of global economies re-opening, coupled with low-interest rates, further stimulus and commodities boom - iron ore at nine-year high and copper pushing higher.

The US quarterly earnings results have been better than expected so far and the US 10 year Bond rate has fallen which continue to provide tailwinds to companies and the market.

We are still Optimistic.

14/04/2021

Snippet from Not So Daily Bulletin No. 385
Today, April 14 saw the ASX 200 close above 7000 for the first time since 21 Feb 20. It finish up 46 points at 7023. It may take a couple of attempts to break through to new highs which is 7197 (intra day high) and 7163 (closing high).

The US quarterly earnings season starts tonight and the US inflation number was just a little above expectation but posed no concerns to the market as Bond rates reduced a little.

There are still the tailwinds blowing markets higher in the coming weeks and months. Those being - further stimulus, CB unmoved on interest rates, vaccine (1.3m in Aust), profits rebounding, consumer savings and positive economic data.

13/04/2021

Snippet from Not So Daily Bulletin No 384.
Today, April 13 saw the ASX finish up 3 points to close at 6977. The market pulled away from the 7000 levels at the start of the week. When markets reach a new level such as 7000. It may take a couple of attempts to break through to new highs.

The US quarterly earnings season starts this week and the US inflation number will be out tonight. Profits are expected to be good but if we get a higher than expected inflation reading then it could throw some short term wobbles.

The Central Banks have stated that if any inflation spike occurs it's likely to be short term and not permanent. We will see how markets react.

Nevertheless, it doesn't change the fact there are a number of tailwinds blowing markets higher in the coming weeks and months. Those being - further stimulus, CB unmoved on interest rates, vaccine (750m in the world and 1.23m in Aust), profits rebounding, consumer savings and positive economic data.

We are still Optimistic.

08/04/2021

Snippet from Not So Daily Bulletin No.382
April 7, saw the ASX finish up 42 points to close at 6928 which is 99 points from the Pre Easter close. This is the highest close since the start of the pandemic and has broken out of the 6650 to 6900 trading range which the market has been in for some time.

As I mentioned a couple of weeks ago, the likelihood is the market will break out of the trading range to the UPSIDE due to valuations, low-interest rates, friendly Central Banks, post-vaccine recovery, plenty of government stimulus to come and lots of cash on the sidelines.

The IMF has upgraded their global GDP outlook overnight and most of the recent economic data point to signs of recovery.

Please read the sections below about Value in the Market as this gives an indication that we could set some new ALL-TIME HIGHS in Australia in the coming months (assuming no left-field events).

We are now Optimistic.

06/04/2021

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18/02/2021

Not So Daily Bulletin Snippet No 370.
Today, February 18, the ASX was flat to finish at 6886. This was after reaching an 11.5 month or pandemic high of 6912 on Tuesday.

Profit season is full-on this week with most profits being better than expected and providing some comfort to investors. Additionally, the 3rd quarter bank results have been great which has seen WBC up 15% ANZ up 11% MQG up 11% & NAB up 8% this month. Other good results from BHP up 11% and RIO up 16% on record dividend payments.

Tomorrow we will provide more detail regarding some of the dividend opportunities.