Ampol

Posted on | by Leon Hinde

Ampol is current holding in our ASX 100 model portfolio.

Caltex has had a name change to Ampol and the new ticker is “ALD”.

The move comes after U.S. oil company Chevron terminated the licensing agreement allowing Caltex Australia to use the Caltex name. Ampol was originally founded as the Australian Motorists Petrol Company in 1936 in an effort to combat unfair petrol prices, later merging with the Australian arm of Caltex in 1995.

Commonwealth Bank

Posted on | by Leon Hinde

We remain cautious on the banks and feel the trough in the share price may be two to three months out from now, at which point a good long-term buy opportunity will be in place.

Short term we continue to watch CBA track below the downsloping resistance.

James Hardie

Posted on | by Leon Hinde

James Hardie Industries is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

JHX will report FY20 earnings tomorrow and previous guidance of $350m to $355m was provided on the 5th May.

The weak demand environment ahead for new residential construction will likely weigh on earnings. The fall in the share price from $33 to $21 allows for these headwinds and a discounted valuation argument builds for both JHX and BLD.

Note: James Hardie has suspended the payment of dividends.

Rio Tinto – Buy

Posted on | by Leon Hinde

Rio Tinto is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

Iron Ore prices have held up well in the recent market sell-off, with spot prices remaining around USD$80 p/t.

Buy RIO at current levels.