ASX is among the best performing stocks within our ASX 100 model portfolio. The stock remains under current buy conditions and the earnings have been slightly upgraded, following the release of the March quarter trading data.
The upgrades were driven by stronger than expected ASX 24 derivatives activity. Volumes increased 11% on the same time last year, with a record month in March 2019.
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Cash equities turnover was up 9% year-over-year.
At 26x earnings and 3.2% yield, the stock looks expensive but it does offer a relatively safe harbour.
