CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

The ASX200 seesaws while Speedcast rises 5.83% and InvoCare declines 6.11%

The ASX200 swung during morning and afternoon trade as investors seemingly couldn’t decide between bullish or bearish sentiment.

ASX200 Source: Bloomberg

The ASX200 spent most of today's trading session seesawing between gains and losses. At the time of writing, the blue-chip index was down 17.1 points.

Some companies avoided this volatility: Speedcast and Wisetech Global Limited both saw impressive gains, rising as much as 5.83% and 3.94%, respectively. Other companies struggled, with Invocare posting the largest declines of the day – down as much as 6.11%.

ASX200: what’s behind this recent price action

Commenting on the ASX200’s recent price movements, IG’s market analyst Kyle Rodda today pointed out that in the last week, the market has mostly been middling:

‘Tracking overseas leads and only really rallying in the back end of last week courtesy of Fed-member John Williams’ communications-gaff' concerning interest rates.

Speedcast (ASX: SDA) gets a vote of confidence

Beaten-down shares in SpeedCast International Ltd rose as much as 5.83% today following news that Norges Bank had taken a significant stake in the company.

In saying that, Speedcast’s share price is still down over 40% in the last month, following an announcement to shareholders that full-year earnings would be some 12% lower than previously expected.

While Norges Bank’s large position certainly ranks as a positive, given Speedcast’s weakened outlook, it will be telling to see if the stock can maintain this kind of momentum going forward.

Invocare (ASX: IVC) falls flat

With an acquisition announcement released last Friday, the share price of funeral operator Invocare Ltd surprisingly fell as much as 6.11% during today's session. This was surprising due to the fact that the company has delivered impressive growth off the back of an acquisition-focused strategy for some time now.

To further confound the matter, both Citi and Macquarie analysts recently raised their price-target on the company’s stock by 1.9% and 14% respectively.

Even still, Invocare's share price is up 58% year-to-date.

Pullback could go deeper still

Today’s mixed results ultimately seems to speak to the uncertainties that continues to plague markets across the globe.

Speaking of the ASX200's outlook going forward, IG’s market analyst, Kyle Rodda concluded that:

‘Though the trend remains to the upside, momentum has waned for the ASX200, suggesting its recent pullback has the capacity to run further.’

Regardless of all this, investors would do well to remember that the ASX200 has performed outstandingly in the last six months – rising 20.6% and even outpacing the gains witnessed by the S&P500 in that same period.

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.

Act on share opportunities today

Go long or short on thousands of international stocks with CFDs.

  • Get full exposure for a comparatively small deposit
  • Trade on spreads from just 0.1%
  • Get greater order book visibility with direct market access

See opportunity on a stock?

Try a risk-free trade in your demo account, and see whether you’re on to something.

  • Log in to your demo
  • Take your position
  • See whether your hunch pays off

See opportunity on a stock?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Trade a huge range of popular stocks
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See opportunity on a stock?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.