By Patrick Avenell
On the day that the Prime Minister’s largesse to families and pensioners was realised, the ASX is having a rare bullish time – and the retail groups are all moving in the right direction.
Clive Peeters has recently had a number of strong showings on the ASX, with big percentage moves on Friday last week and in trading today. The Victorian-based retailer opened on Friday 6 cents, before closing up 2.4 cents – a move of 40 per cent. In live trading this afternoon, the group is up another 13 per cent to 9.5 cents. This equates to a total improvement since last Thursday’s close of 58.33 per cent.
Fellow Melbournites JB Hi-Fi are also on the up today, with the champion price smashers skirting the $9 mark for most of the day. They are currently $9.09. This is a 53 cent jump – or 6.44 per cent – and comes on the back of three good days of trading to end last week. From Wednesday onwards, JB jumped 7.11 per cent, 0.71 per cent and 0.47 cent; for a total upward trend of 15.3 per cent.
The Sydney-based Harvey Norman group has not been left out of the good times either, and is currently up 6 cents to $2.41. This is a jump of almost 3 per cent. It’s been a good week for the retail group share price-wise, with jumps of 7 per cent, 1.3 per cent and 1.7 per cent over the last three trading days of last week. Since close on Tuesday 2 December, Harvey Norman has jumped a cumulative 13.1 per cent.
Radio Rentals has been steady today at 50 cents and the Strathfield group are also unmoved at 1.7 cents.
For the suppliers, Fisher & Paykel are up half of once cent to $1.13 and Sunbeam’s holding company is up 61 cents (or 13.87 per cent) to $5.09.