Sharesight20 top 20 trades on ASX & NZX - November 2018

Welcome to the November 2018 edition of the Sharesight20 monthly trading snapshot (click here for last month’s Sharesight20), where we look at the top 20 trades on both the ASX and NZX markets among the Sharesight userbase during the current month, and dig a little deeper into the news behind these movements.

Let’s dive into November’s top trades.

Sharesight20ASX November 2018 Snapshot

Afterpay Touch (ASX: APT) put in a strong month yet again to claim the top spot in November, followed by the National Australia Bank (ASX: NAB) and Westpac Limited (ASX: WBC). Some of the highlights in the top 20 include:

Afterpay Touch (ASX: APT)

• Afterpay, Zip-Pay and others cause financial strife for 'young' shoppers: ASIC

• ASIC confirmed it recommends regulating Afterpay and other sector participants through the product intervention powers rather than the National Credit Act

• Kim Kardashian West announced she now accepts AfterPay

National Australia Bank (ASX: NAB)

• NAB still pursuing high pressure sales culture offering staff rewards in a pre-Christmas drive

• Chairman Ken Henry admitted the board should have cut executive bonuses earlier than it did

• The Chairman also admitted the bank’s culture could take 10 years to fix

• The bank also opened a ‘Customer Remediation Centre of Excellence’ in response to the Banking Royal Commission

Westpac Banking Corp (ASX: WBC)

• CTO Dave Curran sees a "trust gap" hovering over digital identity, open banking reforms

• The bank is heading back to court with ASIC after the Federal Court refused to rubber stamp a $35 million settlement over breaches of lending laws

• Only six out of 10 Westpac financial advice files passed a recent compliance audit

• Westpac's annual net profit has edged 1% higher to $8.1 billion

• Westpac's Brian Hartzer doesn't know how much to repay customers charged fees for no service

Commonwealth Bank (ASX: CBA)

• CBA CEO Matt Comym revealed the bank had sacked 41 employees due to misconduct in 2018

• Comym also revealed he had been interviewed by the CBA board over the Dollarmites ‘account opening scam’ before becoming CEO

• South Australian government has admitted it has no idea how much CBA paid schools in the state to run the Dollarmite program

• The bank is expected to retain its 17.5 million shares in property settlements company PEXA when it floats on the ASX

• Sold its final life insurance business, Indonesian PT Commonwealth Life, in a deal worth $426 million

CSL Limited (ASX: CSL)

• In one of the biggest trades on the ASX this month, UBS disposed of $266 million worth of CSL shares in two transactions

• This is after the investment bank upgraded the stock to ‘buy’ from a ‘neutral’ rating earlier in the month

• CSL board member Megan Clarke purchased $40,000 worth of CSL shares in a notable transaction

Coles Group (ASX: COL)

• Listed on ASX after demerger from Wesfarmers group

• UBS is bearish on the stock

• Citigroup on the other hand is bullish on Coles Group, but has a sell rating on Wesfarmers Limited

• Here’s how to handle the Coles/Wesfarmers demerger in Sharesight

Sharesight20NZX November 2018 Snapshot

A high number of dividend reinvestment plan ‘buy’ trades are seen in this month’s numbers for the NZX, particularly ETFs at the top of this month’s snapshot. Some of the highlights in the top 20 include:

Z Energy Limited (NZX: ZEL)

• Shares plunged after announcing a 31% fall in profits

• Blamed increased oil prices for reducing demand, with consumers avoiding driving

• As oil prices decreased later in the month, the company sought to alay investor fears -- projecting higher earnings

• The firm also sought to clarify how use of ‘replacement cost accounting’ (which removes the impact of oil price variability on earnings) impacted reported numbers

a2 Milk Company (NZX: A2M)

• Announced plans to sell infant formula directly to Australian consumers with an ecommerce site built by Catch Group

• Appointed Lisa Burquest to the newly created role of HR director at the company

• a2 is banking on demand from Chinese consumers to "protect us from trade wars"

• Lifted net profit by 64.5% to $NZ86 million between July and October

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Important Disclaimer. We do not provide tax or investment advice. The buying of shares can be complex and varies by country. You should seek tax and investment advice specific to your situation before acting on any of the information in this article.

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