Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

ASX 200 morning report – UWL, FPH & KMD shares in focus

The run of positive days continues to defy expert predictions of market chaos as bond yields increase, with the S&P/ASX 200 (ASX: XJO) gaining another 0.5% on Wednesday despite another bump in the 10-year government bond yield.

The ASX technology sector tracked the gains of the Nasdaq, adding 3.5% as sector leader Block Inc (ASX: SQ2) jumped 7.5% to a record high in its short life since swallowing Afterpay Ltd (ASX: APT).

Every other sector was slightly higher, with financials the other standout, whilst the materials sector slumped on the back of another fall in the iron ore price. BHP Group Ltd (ASX: BHP) shares were down 0.8%.

National Australia Bank Ltd (ASX: NAB) was boosted by research suggesting that the bank may look to extend its share buyback by another $2 billion due to its growing levels of excess capital.

Uniti bidding war

But all eyes were on wireless and broadband roll up, Uniti Group Ltd (ASX: UWL), which jumped by more than 10% before entering a trading halt in the afternoon.

The driver was a second bidder for the company, a joint partnership between Macquarie Asset Management and Canadian Pension Fund PSP, which bid $5.0 per share. Uniti shares were halted at $4.67 and are yet to resume trading.

Viva Leisure delivers record month

The travel sector is showing signs of recovery, with Viva Leisure Ltd (ASX: VVA) reporting a record monthly revenue run rate of $8.6 million. This was ahead of even pre-COVID trading and a 3.3% improvement on December quarter numbers as member numbers jumped to 309,000.

Kathmandu sales struggle

Formerly Kathmandu, KMD Brands Ltd (ASX: KMD) gained 3.7% despite reporting a weaker quarter of sales growth. The adventure wear business saw a NZ$5.5 million loss for the first half with sales falling by 1%.

Earnings were down 80% to NZ$10 million, however, the group increased its interim dividend. Surfwear division Rip Curl was a rare highlight, reporting 2.7% sales growth over the first half.

Fisher & Paykal hit by transport costs

Staying in New Zealand, Fisher & Paykel Healthcare Corp Ltd (ASX: FPH), one of the winners of the pandemic due to its production of respirators, has warned about the impact of ballooning transport costs and reported falling profit margins.

Fisher & Paykel shares tumbled 7.8% after management flagged as much as a 2% reduction in its 65% gross profit margin, with full-year revenue now expected to be between NZ$1.675 and $1.7 billion, a slight downgrade.

On the positive side for the company, its hospital consumables division is tracking at the same levels as 2021, in a sign that the impacts of the Omicron variant are expected to continue.

ASX 200 today

Looking ahead, the ASX 200 is expected to open broadly flat this morning despite a negative lead from US stock markets overnight as all three benchmarks finished around 1.3% lower.

The Golden Rules of Investing

We might be experts in retirement, but with combined financial advice experience of 35+ years, we’ve nearly seen it all. 

In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

In this free report, we outline the key principles that determine all of the portfolio construction and investment decisions of Wattle Partners. Collated over decades, this paper should be seen as a work-in-progress, constantly under review in light of the ever-evolving nature of markets. 

You’ll find the free report on my Author page. Simply click the button below to view the Golden Rules.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.


At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.

Powered by

Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

Skip to content