Episode 24: EOFY Tax Selling Unveils Bargains

Equities saw mixed performance this week, with AI mega caps hitting record valuations, despite broader market weakness and a cautious outlook from the Federal Reserve. Stock Highlights Insurance Sector: Suncorp (SUN) and Insurance Australia Group (IAG) experienced significant developments. Suncorp's sale of its banking arm to ANZ Group was seen as a positive move, enabling it to focus on general insurance. IAG announced major new reinsurance partnerships, marking a significant transaction for the company. Collins Foods (CKF): Reported a 0.8% decline in same-store sales for May and June. Interim CEO Kevin Perkins expects challenging conditions to persist into 2025 due to higher mortgage rates, rents, energy bills, and inflation. Bannerman Energy (BNM): Launched a $76 million share placement to support its Etango project in Namibia. This move aims to capitalize on the rising demand for uranium amid a global shift towards nuclear energy and interest in decarbonizing power grids. ResMed (RMD): Shares plunged over 13% after Eli Lilly's weight-loss drug tirzepatide showed significant reductions in obstructive sleep apnoea severity, renewing concerns about the impact on ResMed's market. Trade of the Week Fortescue Metals Group (FMG): Entry price at $21.60 with a target price of $30 and a 15% trailing stop loss. Fortescue is currently undervalued, presenting a favorable entry point due to the recent sell-off. This trade aims to capitalize on the potential price recovery and yield advantage offered by FMG, leveraging its strong fundamentals and growth prospects.