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Month: March 2015

Afternoon Report Wednesday 4 March 2015

by james Carter

• The ASX 200 continued to weaken as anticipated (see morning report), ending 32 points lower at 5901.• Both the banking and resource sector contributed to much of the negative tone today. Commonwealth Bank (CBA) down 0.9% at $91.13 and Fortescue (FMG) down 5.4% at $2.29.• Woolworths (WOW) continues its downfall. Down 1.6% at $29.35 and was the most searched stock today.• Crown Resorts (CWN) closed 0.5% higher at $15.59 despite further bad news in Macau, the gambling revenue fell for the ninth straight month.• Macquarie Group (MQG) went into trading halt today pending a capital raising for ~$500m after acquiring an aircraft portfolio for US$4b. MQG last traded at $73.52 and has rallied more than 26% in 2015.• Global Central Banks continue to stimulate its economies. Today, India’s Central Bank cut its rate by 0.25% to 7.5%.

Morning Report Tuesday 3 March 2015

by james Carter

**Note, the RBA meets this afternoon and announces its March interest rate decision this afternoon, 2.30PM**

Afternoon Report Tuesday 3 March 20115

by james Carter

• The ASX 200 closed 25 points lower at 5933 after rallying as much as 38 points prior to the much hyped RBA interest rate decision. The intraday was as much as 98 points after the RBA announced no change to its current interest rate of 2.25%.• The banking sector reversed early gains with ANZ and Westpac again hitting all-time highs. Commonwealth Bank (CBA) ending the day down 0.7% at $91.92 while ANZ closed 0.1% lower at $35.66 after hitting an all-time high of $36.09 and Westpac (WBC) also 0.1% lower at $38.26 after hitting an all-time high of $38.97.• After the RBA’s interest rate decision, we now have a short term downside target towards the ~5750 area prior to a rally, likely in April. Please watch out for our morning note tomorrow with our updated macro view of the ASX 200 and related stocks.

Morning Report Monday 2 March 2015

by james Carter

** The People’s Bank of China (PBOC) cut its interest rates over the weekend by 0.25%, a potential lift in the ASX200 today and ahead of RBA’s interest rate meeting tomorrow.**

Afternoon Report Monday 2 March 2015

by james Carter

• The ASX 200 rallied as much as 55 points prior to closing 36 points higher at 5965.• The much anticipated rally was from a mixture of the PBoC cutting its interest rates over the weekend and locally and a 73% chance of a March rate cut tomorrow. As at this morning, the market is betting on a rate cut down to 2.1% tomorrow and 1.85% by July.• It is with no surprise investors were chasing the high yield stocks due to interest rate cut concerns, such as the banks. ANZ closed 1% higher at $35.70 and National Australia Bank (NAB) up 1.1% at $38.32. • The major supermarkets continue to disappoint as expected. Woolworths (WOW) closed 4.6% lower at $29.29 and Wesfarmers (WES) down 1.3% at $43.30. Please refer to this morning’s report and comments on the companies and sector.• Myer (MYR) slumped 10.8% to $1.655 following the announcement of the departure CEO, Bernie Brookes and CFO, Mark Ashby. Prior to the announcement, MYR is the most “shorted” stock, with 18.9% interest of its quoted shares on issue, reported as a short position.• Orica (ORI) had an explosive 3.4% close higher at $20.50 after announcing an on market buyback of up to $400m in the next 12 months.

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