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Subject:  Australian Stock Market Report==re Monday 11/2/2013 |
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Author: Wednesday 14, August 2013==Valentine | [ Next Thread |
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] Date Posted: 01:27:13 08/15/13 Thu Australian Stock Market Report Wednesday 14, August 2013 Summary Close Movement % Change All Ordinaries 5141.00 -0.60 0.00 All Industrials 5157.40 -0.30 0.00 50 Leaders 5328.80 2.60 0.00 Market Turnover $A 5,509,949,197.00 Commentary For detailed video updates: http://www.youtube.com/user/CommSecTV Follow us on Twitter for breaking news: www.twitter.com AFTERNOON REPORT (5pm AEST) There was a bit of everything for investors today. Some gains, some losses and then the end result – a flat finish. Overnight US markets rose on hopes the QE3 bond buying program could continue for longer than anticipated after one Federal Reserve President hinted he was not keen to taper in September. It was a very busy day on the reporting calendar. CBA shares closed lower after earlier hitting an all-time high of $75 a share. Australia’s largest company by market capitalisation reported a record $7.8 billion cash profit. Shareholders will receive a fully franked final dividend of $2 per share. Medical services company Primary Health Care (PRY) reported a near 29 per cent rise in FY net profit to $150.1 million. Total revenue was up 4.6% to $1.46 billion. The result was broadly in line with PRY´s own guidance and market expectations while a final fully franked dividend of 11cps was a positive surprise. PRY shares fell 2.8 per cent to $5.14 today. The world´s biggest share registry, Computershare (CPU) missed consensus with a 9.2% slump in its full year profit to $157 million. CPU shares fell 6.3 per cent to $9.75. Construction company Leighton Holdings (LEI) more than tripled its first half profit, however warned that challenges remain in the sector. LEI shares fell 6 per cent today to $16.24. In economic news, wages rose by 0.7 per cent in the June quarter. Annual growth of wages eased from 3.2 per cent to 2.9 per cent, equal to the slowest growth rate in three and a half years. There hasn’t been a slower period of growth since March 2000. On the market overall, a total of 1.7 billion shares changed hands, worth $5.5 billion. 491 shares were up, 445 were down and 313 were unchanged. At 4.30pm AEST the SFE 200 Futures Index was at 5120, up 4 points. Enjoy your evening. Juliette Saly CommSec Market Analyst MID-SESSION REPORT (12.30pm AEST) Investors tried it all this morning, with the Australian sharemarket a little higher on the open, in the red around an hour into trade and completely flat at lunch. Global stocks were buoyed by some upbeat economic news and comments from the head of Atlanta’s Federal Reserve (there are 12 US central banks across North America). President Lockhart seemed not overly keen to taper Quantitative Easing (QE) in a speech overnight. Economists were focused on this month’s consumer confidence reading, which rose by 3.5 per cent for August at 11.30am (AEST). Perhaps this shouldn’t come as a huge surprise however, with the federal election being called early this month together with an RBA interest rate cut. The reporting season is heating up today (busiest day of the earnings season so far). Computershare (CPU), Leighton Holdings (LEI), CSL and OZ Minerals have already issued their profit results. CPU, the world’s biggest share registry disappointed the market with a 9.2 per cent slump in full year profit. Earnings were driven by US acquisitions rather than activity from its core business. This environment remains challenging for CPU (the more corporate actions, M&As and company activity – the better from a revenue standpoint). CPU maintained its $0.14 dividend and will be paid to eligible shareholders on 17 September. CPU is down 5.1 per cent. Construction company, LEI more than tripled its profit, however warned that challenges remain in the sector. LEI shares are down 5.5 per cent. Blood products and vaccine provider, CSL is down 2.8 per cent despite announcing a 19 per cent rise in full year profit, thanks in part to better sales of an infection fighting infusion in North America and Europe. Australia’s biggest listed company, Commonwealth Bank of Australia (CBA) cracked through an all-time high of $75 briefly, only to fall back to $73.86 at around 12.30pm. At lunch, 817.9 million shares changed hands, worth $2.5 billion. 416 stocks are higher, 382 are in the red and 268 are unchanged. Enjoy your afternoon. Steven Daghlian CommSec Market Analyst MORNING REPORT (6.45am AEST) In US economic data, advance retail sales grew by 0.2pct in July. Core retail sales - excluding autos, gas and building materials - was stronger up a solid 0.5pct, the largest gain in seven months. The prior month was revised up to +0.6pct from +0.4pct. European shares hit a fresh two-month high on Tuesday as upbeat economic data reinforced expectations that the euro zone is finally crawling out of recession. The German ZEW sentiment index improved further in August. The current situation reading rose to +18.3, a 13-month high. Eurozone industrial production rose by 0.7pct in July, taking annual expansion back into positive territory at +0.3pct - the first positive reading since October 2011. The FTSEurofirst 300 index rose by 0.6pct. The German Dax was up by 0.7pct and the UK FTSE gained 0.6pct. Mining shares rose with Rio Tinto up by 2.2pct in London trade while BHP Billiton lifted by 0.3pct. US sharemarkets rose on Tuesday after stronger economic data supported sentiment. Also supporting the bid for equities was comments from Atlanta Fed President Lockhart, who suggested that the economic picture was too mixed for the central bank to detail its exit strategy from stimulus. Shares in Blackberry rose by 10pct on news that the company was weighing up options including an outright sale. The Dow Jones rose by 31pts or 0.2pct. The S&P 500 rose 5pts or 0.3pct and the Nasdaq rose by almost 15pts or 0.4pct. US treasuries fell on Tuesday (yields higher) on upbeat economic data. The Federal Reserve bought $1.413 billion in debt due from 2040 to 2043 on Tuesday as part of its ongoing purchase program. US 2yr yields rose by 2pts to 0.33pct and US 10yr yields rose by 9pts to 2.72pct. The US dollar rallied against major currencies in overnight trade on Tuesday following the stronger US retail sales figures. The Euro fell from highs near US$1.3315 to US$1.3235 and ended US trade near US$1.3265. The Aussie dollar eased from near US91.45c to US90.80c before ending US trade near US91.05c. And the Japanese yen held between 97.35 yen per US dollar and JPY98.30, before ending US trade near JPY98.15. World oil prices edged higher on Tuesday with traders focussed on possible supply disruptions from OPEC nations Iraq and Libya. Labour unrest has resulted in a shutdown at Libya´s two biggest crude export terminals. Libya total oil production was well below 500,000 barrels per day down from 1.3 million barrels in June. Brent crude rose by US85c or 0.8pct to US$109.82 a barrel while US Nymex crude rose by US72c or 0.7pct to US$106.83 a barrel. Base metal prices were mixed on Tuesday, with copper touching its highest level in more than nine weeks. Copper gained 0.3pct while lead lost 0.7pct. Gold fell for the first time in five sessions on Tuesday. Comex December futures price fell by US$13.70 an ounce or 1pct to US$1,320.80 per ounce. The iron ore price lifted by US$3.10 or 2.2pct to US$141.80 a tonne. Ahead: In Australia, the consumer sentiment survey and the wage price index are released. In the US, producer price data is released. Craig James CommSec Chief Economist This commentary is a general account of the day's trading and is not intended to be taken as a recommendation to buy, hold or sell any particular stock. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
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