The S&P/ASX 200 Index (ASX:XJO) jumped higher today. However, the Fortescue Metals Group (ASX:FMG) share price fell after an update. The post ASX 200 surges to new record, Fortescue drops, Inghams flies higher appeared first on The Motley Fool Australia.
The
REA Group Ltd(ASX: REA) share price has bounced back strongly in April and is within ~5% of its previous all-time record high of $163.75.
Morgan Stanley bullish on the REA share price
On Wednesday, Morgan Stanley released a note that suggested a potential “earnings super cycle” in 2021-22 driven by positive listings growth and additional houses for sale. The broker believes there is evidence that Australians are re-thinking where they want to live and searching for new homes.
The broker rated the REA shares as overweight with a $175 target price.
CoreLogic data sees housing data soar
A bounce back in economic activity, record low interest rates and rising consumer sentiment has catapulted housing data metrics to new record highs.
Why ARB, Domain, Redbubble, & Treasury Wine shares are sinking today
James Mickleboro | February 16, 2021 12:36pm |
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In afternoon trade the
S&P/ASX 200 Index (ASX: XJO) has followed the lead of European markets and is pushing higher. At the time of writing, the benchmark index is up 0.6% to 6,909 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are under pressure:
The ARB share price is down over 2% to $38.25 following its half year update. For the six months ended 31 December, the 4×4 parts manufacturer reported a 21.7% increase in sales revenue to $283.9 million and a whopping 113.5% jump in profit after tax to $54 million. Investors may be disappointed with the company’s decision to reduce its interim dividend payout ratio well below historical levels. It made the decision so it could increase its investment in the business for future growth.