Monday Market Unpacked – 13/01/20The ASX fell 0.365%, down to 6903.7 today with the likes of CSL, BHP, and Woolworths slipping while tech shares rallied.
Zip Co. shares rose after the company updated the market with its quarterly report, showing tremendous growth across all facets of the business. Record revenue up 101% Year over Year (YoY), quarterly transaction volume $562.6m up 85% YoY etc.
Zip has no intention of slowing down either, with their target of 2.5million customers globally by EOFY 2020, compared to their current 1.8 million.
Morgan Stanley flagged concerns of dividend cuts from the banks as they outlined their negative outlook for the major banks throughout 2020.Morgan Stanley attributed lower rates, tighter lending standards, and multi-year reinvestments into patching up risk and compliance components of the business; all towards pressuring margins and reducing growth.
It was also mentioned that the disruption induced by fintech companies could pressure profitability.
A2 Milk loses another senior leader as Chief Technical Officer, Phil Rybinski departs to pursue other interests. Shareef Khan, Chief Operations Officer, will assume responsibility for all Technical function activities on an interim basis until a more permanent position has been decided at a future date.And that’s the market unpacked! 
Z1P:ASX
$3.64
+
0
%
CBA:ASX
$82.48
-
0
%
ANZ:ASX
$25.01
-
0
%
WBC:ASX
$24.59
-
0
%
NAB:ASX
$24.93
0
%
A2M:ASX
$14.21
-
0
%
