Show your support by donating any amount. (Note: We are still technically a for-profit company, so your
contribution is not tax-deductible.)
PayPal Acct: 
Feedback: 
Donate to VoyForums (PayPal):
| [ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, 3, 4, 5, 6, 7, 8, [9], 10 ] |
| Subject: Australian Stock Market Report==re Sunday 10/2/2013 | |
Author: Tuesday 13, August 2013==Lefties day | [ Next Thread |
Previous Thread |
Next Message |
Previous Message
] Date Posted: 00:06:39 08/14/13 Wed Australian Stock Market Report Tuesday 13, August 2013 Summary Close Movement % Change All Ordinaries 5141.60 47.80 0.90 All Industrials 5157.70 49.00 1.00 50 Leaders 5326.20 44.40 0.80 Market Turnover $A 4,750,641,228.00 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) The Australian share market performed strongly again on Tuesday, as buying in key stocks the Commonwealth Bank (CBA) and CSL Limited (CSL) ahead of their earnings results tomorrow fuelled a rally. Positive sentiment across Asia also helped while Treasury’s release of its Pre-Election Economic and Fiscal Outlook (PEFO) failed to inspire investors when it was released on market open. CBA shares rose by one per cent today while biopharmaceutical company CSL rose four per cent. Both companies release their FY13 results to the ASX tomorrow. On the reporting calendar today, property developer Stockland Group (SGP) fell almost three per cent to $3.70 after blaming a write-down and weakness in the residential housing market for its drop in FY profit. FY13 NPAT fell almost 80 per cent to $104.6M. Shareholders will receive a final fully franked dividend of 12 cents per share. A better day for mining products supplier Bradken (BKN), which saw its share price rise 12.4 per cent to $5.89 on a bullish FY14 outlook. BKN reported a 33.4 per cent drop in FY13 profit to $66.9M but will continue to cut costs in the current financial year to get back on track. In economic data today, the NAB business confidence index weakened from minus 0.4 points to minus 2.8 points in July. The business conditions index improved from minus 7.5 points to minus 6.6 points. The survey was conducted from July 25-31, that is, before the Economic Statement was released, before the Federal Election was called and before the Reserve Bank cut interest rates to 53-year lows. On the market overall, a total of 1.8 billion shares changed hands, worth $4.8 billion. 565 were up, 350 were down and 304 were unchanged. At 4.30pm AEST the SFE 200 Futures Index was at 5116, up 56pts. Ahead tonight, retail sales data is issued together with import and export prices. Enjoy your evening. Juliette Saly CommSec Market Analyst MID-SESSION REPORT (12pm AEST) The Australian share market is making only modest gains at lunchtime in the East on Tuesday, following an uninspiring session on Wall Street overnight and after the Treasury’s PEFO (Pre-election Economic and Fiscal Outlook) came in little changed from the Government’s own economic outlook released a fortnight ago. Overnight, Wall Street finished flat in the absence of any major economic or corporate news. However Apple shares rose almost 3 per cent on rumours of a new iPhone 5S to be released in September. It’s another busy day on the reporting calendar. Property Property developer Stockland Group (SGP) has seen its net profit fall almost 80pct in part due to weakness in the housing market and a major write-down. Net profit fell 78.5 per cent to $104.6M sending SGP shares down 2.5 per cent in early trade to $3.71. Mining products supplier Bradken (BKN) has reported a 33.4pct drop in FY profit to $66.9M, blaming a weaker Aussie dollar and higher purchasing costs. BKN will pay a fully franked dividend of 18cps. Its share price has risen 6.6 per cent in early trade to $5.585 as it forecast cost cuts in Fy14. Domino’s Pizza (DMP) will spend more than $235M to take over its Japanese based sister company, agreeing to buy a 75pct stake in Domino’s Pizza Japan. DMP will also provide more than $100M of new debt funding. The company today reported a 6 per cent rise in net profit to $28.7M, while underlying profit rose 13 per cent. DMP will remain in a trading halt until Friday, last at $11.82. Business confidence has fallen to an eight month low, according to the latest NAB survey. Business confidence fell to minus 3 in July, while conditions remained steady at a reading of minus 7. So far on the market, 779 million shares have changed hands, worth $1.6 billion. 422 shares are up, 311 are down and 255 are unchanged. The Aussie dollar is buying just above US91c. Enjoy your afternoon. Juliette Saly CommSec Market Analyst MORNING REPORT (6.15am AEST) In US economic data, the Federal Budget was in deficit by US$97.6 billion in July, close to forecasts tipping a US$96 billion deficit. European shares were mixed on Monday with resources stocks leading the way in response to encouraging Chinese economic data. The FTSEurofirst 300 index rose by 0.04pct to fresh two-month highs. The German Dax was up by 0.3pct but the UK FTSE lost 0.1ct. Mining shares rose with Rio Tinto up by 0.8pct in London trade while BHP Billiton lifted by 1.0pct. US sharemarkets drifted on Monday in the absence of major market-moving economic or corporate news. Shares in Apple rose by 2.8pct on rumours of a redesigned iPhone to be unveiled in September. And shares in Blackberry rose by 10.5pct on news that the company had set up a committee to explore a possible sale or partnership. The Dow Jones traded in a 82 point range and ended down by 5.8pts or less than 0.1pct. The S&P 500 lost 2pts or 0.1pct but the Nasdaq rose by 9.8pts or 0.3pct. US long-term treasuries were mixed in thin trade on Monday. Traders are awaiting a bevy of top shelf economic indicators over the week to set direction. The Federal Reserve bought $1.496 billion in debt due from 2036 to 2043 on Monday as part of its ongoing purchase program. US 2yr yields were steady near 0.31pct and US 10yr yields rose by around 4 points to 2.62pct. The US dollar was modestly firmer against major currencies in European and US trade on Monday. The Euro eased from highs near US$1.3335 to US$1.3275 and ended US trade near US$1.3300. The Aussie dollar eased from near US92.10c to US91.35c before ending US trade near US91.40c. And the Japanese yen held between 96.36 yen per US dollar and JPY96.90, before ending US trade near JPY96.81. World oil prices edged higher on Monday with traders focussed on possible supply disruptions in Libya. Striking security guards have reimposed a two-week-old shutdown at Libya´s two biggest crude export terminals. Brent crude rose by US75c or 0.7pct to US$108.97 a barrel while US Nymex crude rose by US13c or 0.1pct to US$106.11 a barrel. Base metal prices were mixed on Monday but gains and losses didn´t exceed 0.7pct. Aluminium and lead rose by 0.7pct but copper lost 0.4pct. Gold rose for the fourth straight session on Monday, taking the lead from silver with the Comex December futures price up by US$22.00 an ounce or 1.7pct to US$1,334.20 per ounce. The iron ore price lifted by US$5.60 or 4.0pct to US$138.70 a tonne. Ahead: In Australia, the NAB business survey is released together with the Pre-Election Fiscal Outlook report (PEFO) from Federal Treasury. In the US, retail sales data is issued together with import and export prices. 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 ] |
|
Forum timezone: GMT+10 VF Version: 3.00b, ConfDB: Before posting please read our privacy policy. VoyForums(tm) is a Free Service from Voyager Info-Systems. Copyright © 1998-2019 Voyager Info-Systems. All Rights Reserved. |