January Recap: What Happened To The ASX 200?

After 2018 saw the S&P/ASX 200 (INDEXASX: XJO) index drop by 6.9%, investors were offered some relief in January with the market rebounding to finish the month 4.25% higher. This leaves the market at a level last seen in November last year.

Sector Results

The month 31^st December 2018 to 30^th January 2019 saw every sector finish higher. Leading the charge were Energy, Telecommunication Services and Utilities, while Financials and Industrials dragged the index lower. The results are below:

• Consumer Discretionary – 4.2%
• Consumer Staples – 3.1%
• Energy – 10.3%
• Financials – 1.2%
• Healthcare – 3.6%
• Industrials – 2.9%
• Information Technology – 6.6%
• Materials – 6.0%
• Telecommunication Services – 9.5%
• Utilities – 6.8%
• Note: All figures have been rounded down to one decimal place.

Market Movers

There were plenty of companies that caused excitement in January, with some announcing HY earnings and others announcing quarterly reports.

One of the companies that made headlines was ResMed Inc (ASX: RMD), which left investors with painful losses after a steep drop late in the month, leaving the share price 19% down from December. It may not be all bad news though, and there are certainly a few reasons to remain positive about ResMed shares. Check out this article from a few days ago for four reasons to stay positive.

Challenger Ltd (ASX: CGF) also scared investors this month after issuing earnings guidance that caused the share price to crash. At its current level of $7.27, it’s down over 23% from December and seems to be continuing its downward trend that started over a year ago. If you want more information on CGF shares, this article covers the updates.

On a positive note, Fortescue Metals Group (ASX: FMG) finished a stellar month 29.3% higher, recovering all losses from last year and reaching levels last seen in February 2018. Fortescue is due to report earnings 20^th February which should provide guidance for what to expect in 2019.

February… It’s Going to be BIG

February is reporting season, and most of the companies on the ASX will be releasing HY2019 results to the public throughout the month. To keep up to date on the latest announcements, make sure to check Rask Media daily for our coverage of the biggest stories.

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Disclaimer: At the time of writing, Max does not have a financial interest in any of the companies mentioned.