Australian Investment Blog

Good Afternoon everyone

Market Data


What Mattered Today
The session opened on the back foot after the Doha meeting finished up with no real headway on production cuts…So Oil got Whacked early on this morning and that set up a negative lead for Aussie stocks + the Aussie currency…Understandably, most pain was felt in the energy stocks with the energy sector off -2.86% for the session.





We actually saw a reasonably spirited fight back from the 10.30am lows – after Oil copped a bid and stabilised- with a couple of the well-known BIG CAPS in Telstra (TLS) +1.72% and Transurban (TCL) putting up a decent show. Classic defensive style stocks that love a volatile mkt. We hold TLS in the Market Matters portfolio + we purchased an Oil exposure into weakness this morning



Stocks & Sectors Today

Source; Bloomberg

…Ooh Ah John McGrath; Not a good day for the face of Sydney residential Real Estate with McGrath (MEA) back on the boards after announcing a profit downgrade and lowered full year guidance. They now expect EBITDA of +$26-27m from the $31m touted in the prospectus. The stock came on the board last December with an issue price of $2.10. Stock was off -30% today to 90c….They blame lower listing volume and sales in the first half of April – particularly in the North and North Western Suburbs….



Qantas (QAN) also got hit today -12.15% to $3.62 after pulling back capacity increases on softer than expected demand. Not even a big drop in the Oil price was enough to offer support. The main issue with QAN, is it’s priced for everything going right and when something doesn’t, it drops hard. It’s been an obvious BUY – and a lot have made good money however now it becomes riskier.



ASX 200 Movers


***What Matters Tonight***

European leads are WEAK with the FUTURES on the FTSE -52, DAX -114 & CAC –59
DOW FUTURES are off -94pts
Big week this week on the earnings front
Monday – IBM / Morgan Stanley / Netflix / Pepsi
Tuesday – Goldman Sachs / Harley Davidson / Intel / J & J / Philip Morris / Yahoo
Wednesday – American Express / Coca-Cola / Yum Brands

Regards,
The Market Matters Team
Level 12 28-34 O'Connell St
Sydney NSW 2000



All figures contained from sources believed to be accurate. Market Matters does not make any representation of warranty as to the accuracy of the figures and disclaims any liability resulting from any inaccuracy. Prices as at 18/4/2016 9:00am
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