Australian Investment Blog

• A frustrating session was experienced today, where a glimmer of hope was witnessed early this morning in the ASX 200, rallying as high as 5,229, only to see some selling in the Futures Market, leaving the broader market to end only 4 points higher (+0.1%) at 5,156.
• The bank sector were the safest bet, with the big 4 banks up an average of 0.4% and Westpac (WBC) the main positive contributor, up 0.7% to $32.52.
• In the Telco sector, a shift to Vocus Communications (VOC) was apparent, ending 1.4% higher to $7.51, while Telstra lost 1.7% to $5.32.
• Not surprisingly, the Gold Sector followed suit from the performance of the physical commodity over the weekend. Newcrest Mining (NCM) rallied 2.9% higher to $11.97 and Regis Resources (RRL) closed 4.6% higher at $2.05.
• On the flipside, with the Energy sector lost ground after comments from OPEC in terms of leaving current production output as is. Santos (STO) closed 9.9% lower at $3.81, while Woodside Petroleum (WPL) ended 3.7% lower to $28.00.
• On the Mergers & Acquisitions front, Broad Spectrum (BRS) rallied 47.75 higher to $1.255 after receiving a takeover offer by Spanish Giant, Ferrovial.
• Dexus Property Group has offered to buy Investa Office Fund in a deal valuing the real estate investment trust at $2.15 billion. The board of IOF intends to unanimously recommend the indicative, non-binding offer, according to a statement.
• Real estate agent McGrath shares debut well below their IPO price of $21.10. They closed 13% below the price at $1.835. Market Matters indicated we had no interest in a real estate business which was listing whilst the residential property market was starting to slow.
• Job ads in newspapers and on the internet grew for the fourth straight month in November, which is another encouraging sign that the labour market in improving.

Best Sector – Consumer Discretionary
Worst Sector – Energy

Winners
Broadspectrum Ltd (BRS) +$0.405, or (+47.6%) to $1.255
Investa Office Fund (IOF) +$0.28, or (+7.3%) to $4.11
Evolution Mining Ltd (EVN) +$0.065, or (+5.4%) to $1.275
Northern Star Resources Ltd (NST) +$0.12, or (+5.1%) to $2.48
Losers
Beach Energy Ltd (BPT) -$0.05, or (-9.7%) to $0.465
Santos Ltd (STO) -$0.42, or (-9.9%) to $3.81
Arrium Ltd (ARI) -$0.008, or (-11.4%) to $0.062
Spotless Group Holdings Ltd (SPO) -$0.17, or (-13.8%) to $1.065

All figures contained from sources believed to be accurate. MarketMatters 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 07/12/2015. 4.14PM.

Reports and other documents published on this website (‘Reports’) are authored by Market Matters. The MarketMatters Reports are based on technical analysis of companies, commodities and the market in general. Technical analysis focuses on interpreting charts and other data to determine what the market sentiment about a particular financial product is, or will be. Unlike fundamental analysis, it does not involve a detailed review of the company’s financial position.

The Reports contain general, as opposed to personal, advice. That means they are prepared for multiple distribution without consideration of your investment objectives, financial situation and needs (‘Personal Circumstances’). Accordingly, any advice given is not a recommendation that a particular course of action is suitable for you and the advice is therefore not to be acted on as investment advice. You must assess whether or not any advice is appropriate for your Personal Circumstances before making any investment decisions. You can either make this assessment yourself, or if you require a personal recommendation, you can seek the assistance of a financial advisor.

The Reports are published by MarketMatters in good faith based on the facts known to it at the time of their preparation and do not purport to contain all relevant information with respect to the financial products to which they relate. Although the Reports are based on information obtained from sources believed to be reliable, Market Matters does not make any representation or warranty that they are accurate, complete or up to date and Market Matters accepts no obligation to correct or update the information or opinions in the Reports.

If you rely on a Report, you do so at your own risk. Any projections are estimates only and may not be realised in the future. Except to the extent that liability under any law cannot be excluded, Market Matters disclaims liability for all loss or damage arising as a result of any opinion, advice, recommendation, representation or information expressly or impliedly published in or in relation to this report notwithstanding any error or omission including negligence.