Note from the MD: End of financial year marks 12 months of sizeable gains

As June draws to a close, investors everywhere are wishing farewell to the best financial year on Australian markets in almost three and a half decades.

As June draws to a close, investors everywhere are wishing farewell to the best financial year on Australian markets in almost three and a half decades.

The All Ordinaries index put on 26.2% over the past 12 months, a rate of growth not seen since 1987, while the benchmark ASX 200 (ASX: XJO) chalked up it’s biggest year to date with gains of 24%. 

The Emerging Companies index (ASX: AXEC) eclipsed both of these to round out the year up 57.65%.

Reflecting on the work Reach Markets has done in the past year fills me with an enormous sense of pride, too. We’ve worked with more than 25 businesses in the last 12 months and helped them in a range of ways – from investor relations to corporate advisory.

The businesses we work with have had a bumper year on markets too.

We have an upcoming webinar with a company that is moving the cancer conversation from “fight” to “cure”. Prescient Therapeutics (ASX: PTX) is a biotech innovator that has seen its shares soar over 50% over the last month, and the company isn’t slowing down – proceeding to its next phase of research at a world-leading cancer research centre. Tomorrow at 1pm (AEST), we will be joined by leaders from both Prescient and Peter MacCallum. This will be a fascinating conversation for potential investors. Click here to attend.

It’s been a successful year for Reach, and I’m just as excited – if not more – about our plans for the next 12 months. Stay tuned, we have plenty in the pipeline.

Back to today. The XJO ended the financial year flat after strong morning gains and an afternoon retracement. 

As the June 30 deadline approached, the sellers wrestled control from the buyers in the afternoon session after reaching an intraday high of 7370.1. The market is still holding above the 50 day MA (7160) closing at 7313.0, a rise of 11.8 points (0.16%).

We expect more price action around the post-COVID trend line and the 50 day MA in the coming sessions. However with the new financial year upon us we may see some changes in price action going forward.

The Small Ordinaries (ASX: XSO) ticked up 0.84% today (up 30.17% for the year), helped along by mining company Iluka Resources’ (ASX: ILU) 11.72% gain and Cooper Energy’s (ASX: COE) 10.64% climb.

Paradigm Biopharmaceuticals (ASX: PAR) also lifted 8.25% while furniture retailer Nick Scali (ASX: NCK) gained 7%.

With that I bid you all adieu for another financial year, and and look forward to having you all back in the next – whether it be in our upcoming webcasts or participating in future deals.

Until next week.

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