Volatile ASX reporting season as stock prices swing while earnings have ‘basically done nothing’
Share price volatility reigned this company reporting season, with big swings for ASX-listed stocks despite most profit results meeting analyst expectations.
The month of August saw the usual deluge of results from corporate Australia and alongside it came large swings for stock prices, in both directions, on the local share market.
It was among the wildest reporting periods on record, with more than 30 per cent of ASX 50 firms moving by more than 3 per cent on results day, according to JP Morgan, which described it as “gale-force volatility”.
While the price movements were suggested otherwise, it was a season of fewer-than-usual surprises.
According to analysis from the investment bank, 55 per cent of companies delivered results in line…
