Stock Report- ASX Market 06-02-12

Posted on February 6th, 2012 admin No Comments
Equity Indices Close Change mvt mvt YTD
ASX 200 4296.00  44.83 1.1% 5.9%
S&P 500 1344.90  19.36 1.5% 6.9%
HANG SENG 20862.18  105.20 0.5% 13.2%
NIKEI 225 8931.70  99.77 5.6% 4.5%

 

Equity Futures Last Change mvt mvt YTD
SPI 200 4260  38 0.9% 6.0%
Emini 1335.00  4 -0.3% 6.6%
FTSE 100 5862  6 0.1%  5.9%

Australian Market Wrap

Australian Equities rallied after the Dow Jones Industrial Average closed at its highest level since May 2008 after the US unemployment rate unexpectedly declined to 8.3 percent. Volumes were heavier locally as investors finally breathed a sigh of relief, albeit there was some consolidation after domestic retail sales declined in December, missing expectations for growth.

Materials led the charge as Metals & Miners – BHP Billiton (A$38.21, +1.6%), Fortescue Metals (A$5.36, +5.7%), Iluka Resources (A$18.15, +4.9%), Rio Tinto (A$72.30, +2.6%) – jumped. Orica (A$24.85, +2.5%) said it will resume the restart of its Kooragang Island ammonia plant tomorrow after repairing one of the facility’s compressors. Bathurst Resources (A$0.775, +9.2%) surged as large multiple lines of stock changed hands.

Iron Ore names rallied, led by Gindalbie Metals (A$0.685,+7.0%) and Fortescue Metals (A$5.36, +5.7%). Separately the former awarded a A$570 million services contract for its Karara Iron Ore Project to Downer EDI (A$3.79, +7.1%). Downer also benefited from a A$175 million government bailout of Reliance Rail. Panaust (A$3.73, +4.2%) announced that drilling increased mineralization at its Laotian projects. Meanwhile Beach Energy (A$1.595, +2.6%) discovered a new oil field at the Cooper Basin.

Financials followed, led by National Australia Bank (A$24.17,+1.8%) with the other Major Banks – ANZ (A$21.33, +1.0%), Commonwealth Bank (A$50.84, +0.5%), Westpac (A$21.03,+1.2%) – also climbing. Cardno (A$6.15, +2.7%) announced the acquisition of environmental services firm, ATC Associates, for US$106 million. IMF (Australia) (A$1.36, +3.8%) said it will investigate whether the operator of Brisbane’s Wivenhoe Dam made the Queensland floods worse. Macquarie (A$26.10, +4.4%) tracked overseas banks higher.

Perpetual (A$21.01, +3.8%) announced that Chief Executive Chris Ryan agreed to step down following a disagreement with the board, to be replaced by Geoff Lloyd. Finally Spotless (A$2.50, +2.9%) rose after it granted due diligence to Pacific Equity Partners, the company stated that it wants to “minimise disruption” despite PEP’s inability to meet its A$2.80 asking price.

AUDUSD

ASX200

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US Stock Trading Report 06-02-12

Posted on February 6th, 2012 admin No Comments
Equity Indices Close Change Chg Pct Pct YTD
ASX 200 4251.17 16.68 -0.4% 4.8%
Dow Jones 12862.23 156.82 1.2% 5.3%
S&P 500 1344.90 19.36 1.5% 6.9%
NASDAQ 2905.66 45.98 1.6% 11.5%

 

Equity Futures Last Change Chg Pct Pct YTD
SPI 200 4278  56 1.3% 6.4%
E-MINI 1339.00  16.25  1.2% 6.9%
NIKKEI 225 8920  80 0.9% 5.6%
AUS 10 YR BOND 96.12  0.12  -0.1% -0.2%
US 10 YR BOND 131 17/32  27/32 -0.6% 0.2%

Global Market Wrap

US Equities climbed, sending the Dow Jones Industrial Average to its highest closing level since May, 2008, while the NASDAQ Composite hit a 12-Year high following outrageously supportive data on the health of the labour market. Indeed, stock futures spiked prior to the opening bell as the jobless rate fell to a 3-Year low at 8.3 percent after non-farm payrolls rose by 243 thousand last month. Separately, the employment component of ISM’s non-manufacturing index rose to its highest since 2006, signalling that the downward trend in US unemployment is in tact

European Equities rallied, with British, German and French gaugesrising at least a percent following strong jobs data from North America. Financials – Barclays(237p, +4.2%), Credit Suisse (CHF25.71, +2.7%) Lloyds (34.39p, +5.1%), Société Générale( 24.25, +7.3%) – were well bid as the 3M EURIBOR OIS spread moderated to 0.76 percent. Basic Materials – BHP Billiton (2206.5p, +0.5%), Glencore (482.55p, +4.5%),Rio Tinto (3988.0p, +0.2%), Xstrata (1283.0p, +4.3%) – also advanced

Treasuries were dumped after 10-Year Yields rallied the most sinceNovember as Fed suppression worries failed to offset the strong jobs report. Hence, the curve steepened after the long end underperformed the belly and short-end. Volumes were strong as profit-taking drove the market lower. Techs left the day short, citing still overbought conditions

Financials surged on economic recovery signs, driving Commercial – Bank of America ($7.84, +5.2%), Citigroup ($7.84, +33.54, +4.9%), JPMorgan Chase ($38.28, +1.9%), Wells Fargo ($30.63, +2.4%) – and Investment Banks – Goldman Sachs ($117.53, +3.7%) Morgan Stanley ($20.31, +4.1%). Genworth ($9.17, +14.1%) also jumped as the insurer swung to a profit as fewer Americans defaulted on the home loans it insurers. General Motors ($26.18, +7.7%) climbed on recovery signals.

Industrials followed the trend, with Manufacturing Conglomerates – Boeing ($76.34, +1.5%), Caterpillar ($113.94, +3.3%), General Electric ($19.02, +1.4%), United Technologies ($81.05, +1.3%) – also finishing higher on the jobs report. Metals & Miners – Alcoa ($10.76, +3.3%), Cliffs Resources ($75.12, +2.5%), Peabody ($37.99, +1.6%), US Steel ($32.25, +2.6%) – tracked a rally in commodities, though Gold declined

 

Energy Last Change Pct Pct YTD
Brent Crude 114.58 2.51 2.2% 7.2%
WTI Crude 97.84 1.48 1.5% -1.2%
Natural Gas 2.50 0.05 -2.2% -17.1%
Precious Metals Last Change Pct Pct YTD
Gold Spot USD/oz 1,738.68 16.65 -0.9% 10.3%
Gold Comex USD/t oz 1,737.90 18.90 -1.1% 10.9%
Aussie Gold AUD/ oz 1,612.36 26.12 1.6% 4.7%
Silver Spot USD/oz 33.75 0.43 -1.2% 0.0%
Silver Comex USD/t oz 33.76 0.16 -0.5% 0.0%
Palladium Spot USD/ oz 708.50 2.00 0.3% 0.0%
Platinum Spot USD/ oz 1,626.25 4.25 -0.3% 0.0%
Cross Last Change Pct YTD
AUDEUR 0.8193 0.07% 3.99%
AUDGBP 0.6797 0.20% 3.45%
AUDJPY 82.337 0.19% 4.98%
AUDUSD 1.0751 0.19% 5.31%
EURUSD 1.3123 0.27% 1.25%
GBPUSD 1.5817  0.01% 1.76%
USDJPY 76.590 0.01% -0.42%
USDIndex 78.942  0.05% -1.54%

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Stock Report- ASX Market 03-02-12

Posted on February 3rd, 2012 admin No Comments
Equity Indices Close Change mvt mvt YTD
ASX 200 4251.20 16.65 -0.4% 4.8%
S&P 500 1325.54 1.45 0.1% 5.4%
HANG SENG 20719.23 20.22 -0.1% 12.4%
NIKEI 225 8838.96 37.86 -0.4% 4.5%

 

Equity Futures Last Change mvt mvt YTD
SPI 200 4216 23 -0.5% 4.9%
Emini 1320.50 2.25 -0.2% 5.4%
FTSE 100 5757 7.5 0.1% 3.7%

Australian Market Wrap

Australian Equities fell off early morning highs ahead of tonight’s widely-watched US jobs report. Crude fell to a six-week low overnight after US inventories climbed. Earlier in the session The Guardian reported that debt inspectors uncovered a 15 billion Euro hole in Greece’s public finances, sending the S&P/ASX 200 towards session lows. The Euro also was sold against the US Dollar. Gold held gains above $1,760/oz. US stock futures are little
changed.

Materials followed the market. Ausdrill (A$3.52, -1.4%) stood behind Managing Director Ron Sayers as he was charged with conspiracy to defraud relating to ten-years old tax matters. Extract Resources (A$8.57, unch) halted trading ahead of a takeover offer from China Guangdong Nuclear Power Corp following the latter’s bid for Kalahari Minerals. Rio Tinto (A$70.50, -0.3%) has previously said it “would in time consider what to do with” its 14.2% stake in Extract. Lynas (A$1.43, -10.1%) fell sharply on profit taking while a major broker downgraded their rare earths price forecasts.

Austar (A$1.175, +1.3%) announced plans to postpone a shareholder meeting to March related to the proposed acquisition by Foxtel. Data#3 (A$1.29, -0.8%) entered into a strategic partnership with EMC Corporation, a global IT provider. Decmil (A$2.48, +1.6%) was awarded a A$90 million contract by the BHP Mitsubishi Alliance for a construction village in the Bowen basin. Pharmaxis (A$1.005, +1.0%) announced second half results, with revenue up 41% on a net loss of A$19.52 million.

Financials fell as Major Banks – ANZ (A$21.11, -1.2%), Commonwealth Bank (A$50.57, -0.2%), NAB (A$23.75, -0.6%) – finished lower. Westpac (A$20.79, -0.6%) confirmed job cuts across the company. In other news Panoramic Resources (A$1.26, -0.8%) said it intends to acquire the remaining 91.66% of Magma Metals while Royal Dutch Shell said its remaining stake in WoodsidePetroleum (A$34.09, -0.2%) does not fit with the company’s longterm plans. The AFR reported that Cardno (A$5.99, unch) will raise A$106 million to buy a US engineering firm.

 AUDUSD

 

ASX200

 

 

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Stock Report- ASX Market 02-02-12

Posted on February 2nd, 2012 admin No Comments
Equity Indices Close Change mvt mvt YTD
ASX 200 4267.80 42.13 1.0% 5.2%
S&P 500 1324.09 11.68 0.9% 5.3%
HANG SENG 20629.68 296.31 1.5% 11.9%
NIKEI 225 8874.60 64.81 0.7% 5.0%

 

Equity Futures Last Change mvt mvt YTD
SPI 200 4235 42 1.0% 5.4%
Emini 1321.75 2 0.2% 5.5%
FTSE 100 5745 3.5 -0.1% 3.8%

Australian Market Wrap

Australian Equities rallied after European and North American markets responded positively to improved global economic data. Locally, the national trade surplus unexpectedly widened on stronger exports of gold and coal. As a result, the Aussie Dollar rose to session highs at US$1.0756, sending the S&P/ASX200 off early morning highs on profit impact worries. US Stock Futures rose after Facebook filed for an IPO, valuing the company at US$75 to
US$100 billion.

Materials advanced, driven by a rebound in commodity prices overnight. The sector was led by a soaring Lynas (A$1.59, +19.1%) after Malaysia’s regulatory board approved a conditional operating license for its rare earths plant. In other news, Rio Tinto (A$70.72, +2.9%) announced its acquisition of BHP’s 37% stake in South Africa-based Richards Bay Minerals. Furthermore BHP Billiton (A$37.62, +1.9%) approved a US$917 million pre-commitment for an export facility at its Port Hedland outer harbour.

Singapore Telecommunications (A$2.33, +0.4%) subsidiary Optus won a copyright case for streaming live broadcasts of the AFL and NRL on its TV Now service. This puts the firm in competition with Telstra (A$3.36, +1.8%) which previously had exclusive broadcast agreements with the leagues. Vocus Communications (A$1.69, +13.4%) rose after reporting expected revenue of A$21.9 million for the second half, up 57% on the previous period. Finally, Wesfarmers (A$29.90, +0.6%) reported 2Q sales that missed estimates.

Financials finished higher with Major Banks – ANZ (A$21.36, +0.4%), Commonwealth Bank (A$50.66, +0.4%), National Australia Bank (A$23.89, +1.0%), Westpac (A$20.92, +0.3%) – all clocking in gains. Westpac trailed the others after reports of more job cuts late in the day. Credit Corp (A$5.10, +7.1%) posted gains on better than expected earnings, with a 12% increase for 2H revenue, and upgraded FY12 EPS guidance. On the other hand PMP (A$0.44, – 8.3%) cut its guidance after reporting poor printing sales volume. TPG Capital is reportedly in talks with banks to finance a bid for Pacific Brands (A$0.67, +5.5%).

AUDUSD

ASX200

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US Stock Trading Report 02-02-12

Posted on February 2nd, 2012 admin No Comments

Global Markets

Equity Indices Close Change Chg Pct Pct YTD
ASX 200 4225.67 37.01 -0.9% 4.2%
Dow Jones 12716.46 83.55 0.7% 4.1%
S&P 500 1324.08 11.67 0.9% 5.3%
NASDAQ 2848.27 34.43 1.2% 9.3%

 

Equity Futures Last Change Chg Pct Pct YTD
SPI 200 4242  49 1.2% 5.5%
E-MINI 1319.75  11.00 0.8% 5.3%
NIKKEI 225 8880  90 1.0% 5.1%
AUS 10 YR BOND 96.22  0.05 -0.1% -0.1%
US 10 YR BOND 132 2/32  7/32 -0.2% 0.7%

Global Market Wrap

US Equities rallied, erasing a four-day loosing streak for the S&P 500 after investors were encouraged by supportive economic reports from China, to Western Europe and North America. Hence, Wall St.’s gauge of fear, or the CBOE VIX, fell within reach of hitting a seven-month low, while the Dollar weakened against the Aussie and Euro amid refreshed risk appetite. April Gold fluctuated between the range of $1735/oz and $1754/oz, while March Crude dropped to $97.21/bbl on its lows as the DoE said that inventories rose and gasoline demand hit a 10-year low.

European advanced, with the Euro Stoxx 600 extending its best start to a year since 1998 on stabilising global growth indicators. Meanwhile, the Greek Government and private creditors reportedly made progress establishing a debt swap, while news surfaced that bondholders may get a sweetener tied to a revival in economic growth. Regional Banks – Barclays (224p, +5.4%), Crédit Agricole ( 5.06, +7.4%), Credit Suisse (CHF 24.96, +4.5%), Deutsche Bank ( 34.04, +5.1%) – rallied sharply. ICAP (362p, +7.7%) rose after saying profits will beat analyst estimates

Treasuries declined, with the complex booking modest losses into the close as the market failed to fight off supportive economic data and the recovery in stocks. The 7-30 Year sectors lagged on decent volumes. The Government announced that it will auction $72 billion next week.

Financials advanced as the Money Centre Banks – Bank of America ($7.36, +3.2%), Citigroup ($31.60, +2.9%), JPMorgan ($37.60, +0.8%), Wells Fargo ($29.88, +2.3%) – & Investment Banks – Goldman Sachs ($113.45, +1.8%), Morgan Stanley ($19.40, +4.0%) – jumped. Shares of Amazon.com ($179.46, -7.7%) plunged as the online retailer booked a sharp drop in revenues and gave weak guidance. Broadcom ($37.13, +8.1%) – surged after the chipmaker posted profits ahead of estimates.

Materials bounced as Metals & Miners – Alcoa ($10.20, +0.4%), Cliffs Resources ($73.10, +1.2%), Peabody y ($35.31, +3.6%), United States Steel ($31.17, +3.3%) – finally earned a reprieve. Ford ($12.33, -0.7%) posted monthly auto sales that gained 7 percent, while General Motors ($24.37, +1.5%) reported a 6.1 percent decline which beat estimates. Chevron ($102.79, -0.3%) and Exxon ($83.97, +0.3%) underperformed

Energy Last Change Pct Pct YTD
Brent Crude 111.68 0.70 0.6% 4.5%
WTI Crude 97.46 1.02 -0.1% -1.6%
Natural Gas 2.38 0.12 -5.0% -21.1%
Precious Metals Last Change Pct Pct YTD
Gold Spot USD/oz 1,743.33 1.90 -0.1% 10.6%
Gold Comex USD/t oz 1,743.40 5.60 0.3% 11.3%
Aussie Gold AUD/ oz 1,630.12 1.98 -0.1% 5.7%
Silver Spot USD/oz 33.70 0.43 1.3% 0.0%
Silver Comex USD/t oz 33.72 0.07 -0.2% 0.0%
Palladium Spot USD/ oz 697.50 2.00 0.3% 0.0%
Platinum Spot USD/ oz 1,618.50  0.50 0.0% 0.0%
Cross Last Change Pct YTD
AUDEUR 0.8131 0.01% 3.20%
AUDGBP 0.6759 0.10% 2.88%
AUDJPY 81.520 0.31% 3.94%
AUDUSD 1.0696 0.23% 4.77%
EURUSD 1.3154 0.23% 1.49%
GBPUSD 1.5824  0.14% 1.81%
USDJPY 76.220 0.08% -0.90%
USDIndex 78.952 0.41% -1.53%

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Stock Report- ASX Market 01-02-12

Posted on February 1st, 2012 admin No Comments
Equity Indices Close Change mvt mvt YTD
ASX 200 4225.70 36.98 -0.9% 4.2%
S&P 500 1312.41 0.60 0.0% 4.4%
HANG SENG 20395.12 4.63 0.0% 10.6%
NIKEI 225 8802.89 0.38 0.0% 4.1%

 

Equity Futures Last Change mvt mvt YTD
SPI 200 4190 36 -0.9% 4.3%
Emini 1305.50 2.75 -0.2% 4.2%
FTSE 100 5648 3 0.1% 2.0%

Australian Market Wrap

Australian Equities declined after consolidation on Wall Street overnight amid weaker US economic data. Locally, a gauge of national house prices fell by a record 4.8% in 2011. China’s Manufacturing PMI unexpectedly rose to 50.5 in January, from 50.3 the prior month, with new orders expanding for the first time since October. 10-Year Aussie yields matched their record low of 3.648  percent set on December 30 2011.

Materials were the laggard, tracking overnight weakness in commodities. Arafura Resources (A$0.45, -10.0%) appointed Ian Kowalick, an originalfounding director of the company, as nonexecutive Chairman. BHP Billiton (A$36.91, -1.5%) cut both output and staff from its WA nickel operations citing a stronger Aussie dollar and weak nickel prices. Fortescue Metals (A$4.98, -1.4%) fell after news surfaced that Leucadia National sold approximately 3% of its stake. Finally Rio Tinto (A$68.74, -0.6%) accepted China Guangdong’s offer for 11.1% of Kalahari Minerals, saying that a decision on its stake in Extract Resources (A$8.55, unch) would be made in “due course”.

Fairfax Media (A$0.815, +10.1%) soared after reports that Gina Rinehart is looking to up her stake in the company by 9.9%. Energy Resources of Australia (A$1.33, -13.6%) was significantly lower after it booked a heavy loss due to storms and lower grade ore. Aquarius Platinum (A$2.32, -12.5%) performed similarly on news of a 4% decline in 2Q production. Boral (A$3.98, -1.5%) announced the sale of its Indonesian construction materials business.

Financials moved with the market as Major Banks – ANZ (A$21.27, -0.7%), Commonwealth Bank (A$50.44, -0.4%), National Australia Bank (A$23.66, -0.8%), Westpac (A$20.85, -1.4%) – were again served with litigation by IMF (Australia) (A$1.325, -1.1%) in its ongoing class action over various bank fees. Macquarie (A$25.02, – 1.9%) is reportedly competing with State Street and JPMorgan Chase to buy asset-management divisions from Deutsche Bank AG.

AUDUSD

 ASX200

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US Stock Trading Report 01-02-12

Posted on February 1st, 2012 admin No Comments

Global Markets

Equity Indices Close Change Chg Pct Pct YTD
ASX 200 4262.68 10.06 -0.2% 5.1%
Dow Jones 12632.91 20.81 -0.2% 3.4%
S&P 500 1312.40 0.61 0.0% 4.4%
NASDAQ 2813.84 1.90 0.1% 8.0%

 

Equity Futures Last Change Chg Pct Pct YTD
SPI 200 4234 8 0.2% 5.3%
Emini 1307.50 2.00 -0.2% 4.4%
NIKKEI 225 8800 10.00 -0.1% 4.1%
AUS 10 YR BOND 96.27 0 0.0% 0.0%
US 10 YR BOND 132 10/32 8/32 0.2% 0.9%

Global Market Wrap

US Equities fluctuated, with the Dow Jones Industrial Average losing as much as 86 points before the market pared losses. Suddenly weak economic data contributed to early morning selling after Chicago area manufacturing activity moderated, while Conference Board’s gauge of Consumer Confidence unexpectedly dropped in January. The reversal in risk sentiment saw the Dollar Index reverse recent losses, however April Gold climbed to session highs at $1750/oz on renewed monetary easing speculation. Volumes rose to a seven-week high on the NYSE.

European Equities bounced, with Germany’s XETRA DAX posting its best January performance on record after most European Union states agreed to abide by a new fiscal-discipline treaty. Greek Prime Minister Lucas also told reporters that the nation is aiming to finalise debt-swap talks this week, while German unemployment dropped to a two-decade low. Overnight funding costs continued to fall, sending Regional Banks – BNP Paribas ( 32.37, +0.6%), Credit Suisse (CHF 23.88, +0.5%), Société Générale ( 20.37, +3.3%), Unicredit ( 3.79, 6.3%) – on a rally.

Treasuries climbed as 10-Year Yields fell to the lowest in four-months in the wake of the day’s disappointing economic reports. The complex crept higher rather slowly as traders were careful not to zoom past key resistance levels with a new Greek debt deal reportedly just a few days away. The Long Bond led the upside charge on slightly better volumes.

Financials outperformed after Commercial – Bank of America ($7.13, +0.9%), Citi ($30.72, +1.6%), JPMorgan Chase ($37.30, +0.8%), Wells Fargo ($29.29, -0.1%) – and Investment Banks – Goldman’s ($111.47, +1.6%), Morgan Stanley ($18.65, +2.5%) – were buoyed by European resolution optimism. Pfizer ($21.40, -0.8%) reported weaker earnings, hurt by competition from new generic forms of Lipitor. Eli Lilly ($39.74, +1.3%) said its profits fell 27 percent after it lost patent protections too.

Materials lacked steam as Metals & Miners – Alcoa ($10.16, -1.5%), Cliffs Resources ($72.25, +0.2%), Freeport ($45.21, +0.2%), Newmont ($61.48, +0.4%) – were little changed. US Steel ($30.19, +5.1%) rallied on its quarterly filing. Exxon Mobil ($83.74, -2.1%) declined after sales misses analyst expectations, while oil production fell in five continents.

Energy Last Change Pct Pct YTD
Brent Crude 111.00 0.25 0.2% 3.9%
WTI Crude 98.42 0.36 -0.4% -0.6%
Natural Gas 2.47 0.25 -9.1% -18.2%
Precious Metals Last Change Pct Pct YTD
Gold Spot USD/oz 1,739.28 8.30 0.5% 10.3%
Gold Comex USD/t oz 1,738.60 7.60 0.4% 11.0%
Aussie Gold AUD/ oz 1,638.66 6.11 -0.4% 6.2%
Silver Spot USD/oz 33.14 0.39 -1.2% 0.0%
Silver Comex USD/t oz 33.16 0.00 0.0% 0.0%
Palladium Spot USD/ oz 686.25 1.00 0.1% 0.0%
Platinum Spot USD/ oz 1,587.00 2.00 0.1% 0.0%
Cross Last Change Pct YTD
AUDEUR 0.8118 0.09% 3.03%
AUDGBP 0.6738 0.09% 2.55%
AUDJPY 80.923 0.04% 3.18%
AUDUSD 1.0615 0.13% 3.98%
EURUSD 1.3077 0.05% 0.89%
GBPUSD 1.5755 0.04% 1.36%
USDJPY 76.240 0.07% -0.87%
USDIndex 79.304 0.23% -1.09%

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Stock Report- ASX Market 01-31-12

Posted on January 31st, 2012 admin No Comments
Indices Close Change Chg Pct
AUDUSD 1.0631 0.0032 0.30%
ASX 200 4262.70 10.04 -0.2%
NIKKEI 225 8812.68 19.63 0.2%
HANG SENG 20304.48 144.07 0.7%
S&P 500 E-MINI 1310.25 1.25 0.1%

Australian Equities fluctuated on the back of strong performance in the Retail sector. The Aussie dollar rallied

above US$1.06 after a one-day decline yesterday, buoyed after the Greek Prime Minister said he was “strongly

committed” to closing a debt deal. Asian markets shook off European gloom as Japanese stocks advanced after

domestic industrial production climbed the most in 7 months.

 

Materials dipped even as Gold producer Kingsgate Consolidated (A$7.65, +1.7%) broke above its 200- Day

Moving Average after reporting that second quarter gold production rose 62% fuelled by a 80% production ramp

up at Chatree. Kingsgate said it expects an even stronger second half. Lynas(A$1.325, +1.1%) reported higher fourth

quarter prices and emphasised that its Malaysian rare earths plant is preparing for production. Medusa (A$5.40, -8.2%)

dropped after downgrading this year’s production forecasts.

 

Consumer shares led the day, supported as Woolworths (A$24.79, +1.4%) rallied after reporting a 5% increase in

sales for the first half, with supermarket sales up 5.6% on the year. The company also announced its plan for a

divestment of consumer electronics retailer, Dick Smith, buoying retailer JB Hi-Fi (A$12.60, +6.6%), on speculation of

industry consolidation. Navitas (A$2.88, – 10.8%) also reported growth with revenue up 17%, but declined on the back

of forecasts of a tougher second half.

 

Financials declined as Major Banks – ANZ (A$21.41, -0.3%), Commonwealth Bank (A$50.66, -0.7%), National Australia

Bank (A$23.85, -0.3%), Westpac (A$21.15, +0.2%) – saw little movement despite Fitch placing the four’s Long-Term

Issuer Default Ratings on Rating Watch Negative.

 

Energy was the laggard as Origin Energy (A$13.76, -2.8%) reported production down 9% on the year, despite a 5%

increase in revenues. Aquila Resources (A$6.02, -1.5%) abandoned litigation against Vale after the latter’s approval of

infrastructure go-ahead at their JV Eagle Downs Hard Coking Coal Project. Whitehaven Coal (A$5.69, -1.0%) appointed

Peter Wilkinson, formerly of Idemitsu Australia, as General Manager of Open Cut Operations. Beach Energy

(A$1.48, +1.4%) finished higher on second half production up 2.4% on the year and revenue up 0.4%.

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US Stock Trading Report 01-31-12

Posted on January 31st, 2012 admin No Comments
Indices Close Change Chg Pct
Dow Jones 12653.72 6.74 -0.1%
S&P 500 1313.02 3.31 -0.3%
NASDAQ 2811.94 4.61 -0.2%
SPI 200 4238 -7 -0.2%

US Equities climbed from session lows as the Dow Jones Industrial Average Industrial lost as much as 131 points before paring downside into the close following more supportive economic data. Volumes were rather light as conviction lacked amongst large accounts in the midst of ongoing Eurozone debt negations. Gold for April delivery hit $1718/oz, before regaining $1730/oz as the Dollar Index fluctuated, but still rose on the day. The Fed announced demand for business loans increased in the fourth quarter to a six-year high as economic growth accelerated.

European Equities dipped, with regional benchmarks falling the most in six weeks as 10-Year Portuguese Yields spiked more than 200 basis points to 17.39 percent. Hence, March Bunds advanced as much as 88 ticks, though overnight EURIBOR funding costs continued their recent trend lower. BNP Paribas ( 32.18, -7.1%) led losses in French Banks after President Nicolas Sarkozy announced he will unilaterally impose a financial-transaction tax. Hochtief ( 48.06, -5.8%) tipped after saying it expects to post a wider annual net loss of approximately 160 million.

Treasuries advanced, sending 5-Year Yields to a record low at 0.715 percent amid European rhetoric, while the spread between 2-Year and 10-Year narrowed to the least in six weeks on speculation that the Fed is willing to adjust its holdings to support the economy. Trading activity was fairly quiet with no real reaction to a mixed personal income report.

Financials declined as Bank of America ($7.07, -3.0%) sagged after Wall Street’s largest investment bank downgraded its recommendation citing higher execution risk for the firm. Citigroup ($30.23, -2.1%) was upgraded by the same firm who said there is a clearer path for the firm to return capital to stock holders. Morgan Stanley ($18.20, -1.9%) was upped to a ‘conviction buy.’ Oil & Gas Producers – Chevron ($103.41, – -0.5%), Exxon Mobil ($85.49, -0.4%) – followed Crude lower to $99/bbl.

In acquisition news, US Airways ($8.51, +4.0%) rose on reports that Delta ($10.77, +3.7%) may bid. The latter is also considering a buy out of recently defunct AMR ($0.70, +1.4%). Swiss-based ABB will acquire Thomson & Betts ($71.35, +23.1%) for $3.9 billion. Materials – Alcoa ($10.32, -1.1%), Cliffs ($72.10, -1.3%), Freeport ($46.1-, -0.1%) – fell.

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US Stock Trading Report 30-01-12

Posted on January 30th, 2012 admin No Comments
Indices Close Change Chg Pct
Dow Jones 12660.46 74.17 -0.6%
S&P 500 1316.33 2.10 -0.2%
NASDAQ 2816.55 11.27 0.4%
SPI 200 4255 5 0.1%

US Equities fluctuated, with the NASDAQ composite climbing at the expense of the Dow Jones Industrial

Average following slightly weaker data on the health of the economic growth, albeit a gauge of consumer

confidence climbed to a near one-year high. Nevertheless, the market succumbed to profit-taking on average

trading flow. The Dollar further weakened against the Euro, while a weekend news report said Greece and its

private creditors expect to complete debt-swap agreement this week. Spot Silver climbed within reach of

$34/oz, or a two-month high.

 

European Equities declined as investors liquidated long positions on Gross Domestic Product data from

the US which came in a tad weaker relative to expectations. BP (464.55p, -2.6%) slipped as a Judge ruled that

it can’t collect part of the cleanup costs for the Gulf of Mexico oil spill from Transocean (CHF 43.83, +0.9%).

Regional Banks – Barclays (222.9p, unch), BNP Paribas ( 34.64, -3.3%), Deutsche Bank ( 33.51, +0.4%), Unicredit

( 3.65, -4.5%) – closed with gains and losses, while the 3M EURIBOR OIS spread shrunk to its lowest level since October.

 

Treasuries advanced as the complex climbed into the close after the GDP breakdown came in softer-than-anticipated,

leaning heavily on inventory rebuilding. The long-end led the late-week upside, though the sector still underperformed

throughout the week as the belly led gains.

 

Financials were the leader as Commercial – Bank of America ($7.29, -0.1%), Citigroup ($30.87, +1.6%), JPMorgan

Chase ($37.21, -0.8%), Wells Fargo ($29.60, +1.9%) – and Investment Banks – Goldman’s ($111.77, +3.0%), Morgan

Stanley ($18.56, +2.0%) – were mixed, but still mostly showed upside. In earnings news, Ford ($12.21, -4.2%) fell after

its quarterly was short of expectations, despite reporting its most profitable year since 1998. P&G’s ($64.30, -0.8%)

profit fell 49 percent.

 

Chevron ($103.96, -2.5%) knocked 20 points from the Dow Jones as the Oil & Gas producer reported disappointing

earnings dude to rising spending and costs. Eastman Chemical ($50.41, +7.0%) said that it will buy Solutio

($27.52, +41.1%) for $3.38 billion to expand its presence in Asia Pacific. Materials – Alcoa ($10.43, +0.7%), Cliffs

($73.06, -2.8%), Freeport ($46.13, -0.9%), Newmont ($61.51, +1.8%) – also fluctuated.

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