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Author: james Carter

Morning Report Tuesday 16 February 2016

by james Carter

Looking at Market Matters stocks that are struggling

Afternoon Report Monday 15th February 2016

by james Carter

  • A firm start for the week today, with the ASX 200 ending its day on a positive note, up 78 points (+1.6%) at 4,824, with our regional counter parts in Asia, fully open.
  • The rally was led by the US movement last Friday, with the Resource sector dominating most of broader market’s strength. BHP rallied 5.9% higher to $15.98, while Fortescue (FMG) closed 5.3% higher at $1.705 and RIO closed 4.3% higher at $42.22.
  • The Big 4 banks all closed higher, with ANZ being the strongest link, finishing its day 3% higher at $22.84. CBA closed $0.97 higher (+1.3%) at $74.30 and will trade ex-dividend tomorrow for the amount of $1.98 a share.
  • China released worse than expected economic data this afternoon, exports fell 11.2% last month, compared to a year ago. Imports also disappointed, reporting a fall of 18.8%.
  • Amcor (AMC) reported and beat estimates, helping in its rally of 9.6% to $13.40 today.
  • Greencross (GXL) rallied 2.4% to $6.54 today, after the board had rejected a $770m takeover bid from private equity firms Carlyle and TPG.

Best Sector –Materials
Worst Sector – Telcos

Morning Report Monday 15th February 2016

by james Carter

On Friday night the US S&P Banking Index surged 6.2% and the European banks were not far behind, rallying 5.4%.

Afternoon Report Friday 12th February 2016

by james Carter

  • The ASX200 had a choppy session today, trading as high as 4,821 earlier in the day, only to end its day off its lows, down 56 points (-1.2%) to 4,765. The broader market finished the week down 4.2%.
  • Banks contributed much of the broader selloff, with Westpac (WBC) being the dragger, ending its day down $0.73 (-2.5%) at $28.06.
  • RIO surprised most, ending its day 1.3% lower to $40.47, despite being 3.4% lower in London trade.
  • Oil rallied in Asia, currently up 5.2% to US$27.56/bbl, following comments earlier this morning. It will be interesting to see if the reports have proved correctly.

* Please watch out for the weekend report

Morning Report Friday 12th February 2016

by james Carter

Today’s report is short but important as we look specifically at world indices that have experienced a dramatic correction since the start of 2016. There is no doubt that when many people switch on their TV’s, ipads and iphones this morning the first reaction will be to panic after more dramatic moves on world financial markets.

Afternoon Report Thursday 11th February 2016

by james Carter

  • The ASX 200 finished the day on a strong note, after briefly going negative earlier this morning. The market closed up 45 points (+1%) to 4,821.
  • The big four banks had a better session, Commonwealth Bank (CBA) again having a large swing during the day. CBA closed marginally higher $74.30, after having a high at $75.19 and a low of $73.13. The other three majors finished the day higher, with Australia New Zealand Bank (ANZ) up 29c to $22.71, National Australia Bank (NAB) up 18c to $24.60 and Westpac (WBC) up 26c to $28.79.
  • Hong Kong played catch up for the week, with the HangSeng Futures currently off 4.2%.
  • Cochlear (COH) announced an earnings upgrade and released a better than expected first half result. With a weaker A$, COH announced a net profit of $92m – an increase of 32%. The price smashed through the $100 level and hit a high of $104.53, before ending the day up $12.87 (+14.1%) at $104.05.
  • Mirvac (MGR) rallied 2.8% higher to $1.85 after the diversified property developer announced 1H profit of $472.7m.

Best Sector –Health Care
Worst Sector – Utilities

Morning Report Thursday 11th February 2016

by james Carter

Yesterday CBA reported its profit for the half year with no surprises and the market simply loved it with the stock rallying $1.33 to $74.20, on a day when the ASX200 fell over 1% and the banking sector fell 2.3%. The quality of CBA as a business is clear when we compare its relative performance since the highs of last March where CBA has corrected 23% compared to the sectors fall of ~30%.

Afternoon Report Wednesday 10th February 2016

by james Carter

  • A choppy session today in the ASX 200, with the index managing to close 56 points lower (-1.2%) after losing as much as 126 points earlier in the day.
  • Commonwealth Bank (CBA) was the market darling, ending its day $1.33 higher (+1.8% ) after reporting its 1H profit that was more or less in line with expectations.
  • Rumours earlier in the day that Macquarie Group (MQG) was a takeover target were ignored and sold off 1.2% to $59.93.
  • The Gold sector faded somewhat, with Newcrest (NCM) losing 3.3% to $16.25 and Regis Resources (RRL) ending its day down 1.4% to $2.79.
  • Crude Oil managed to jump 2.3% higher in local trade, currently at US$28.58/bbl.

Best Sector – Utilities
Worst Sector – IT

Morning Report Wednesday 10th February 2016

by james Carter

**CBA reported slightly above analyst’s estimates this morning, with 1H Cash profit at $4.8B**

Afternoon Report Tuesday 9th February 2016

by james Carter

  • The ASX 200 was sold off hard from the beginning of today’s session, losing -143 points (-2.9%), finishing the day at 4,832, just shy of its low of 4,826. The last time the index dropped 2.9% or more in one day was on 29 September 2015 (-3.8%).
  • The main weakness was seen in the banking and financial sector, as credit markets start to price in a heightened level of concern. Westpac (WBC) the weakest link and closed $1.56 lower (-5.2%) at $28.70.
  • Japan didn’t help, with the Nikkei futures currently down 5.7% as investors continue to switch out of Japan due to the current negative interest rate settings. China and other Asian markets remain closed, so perhaps the Aussie bourse is attracting more than its fair share of selling
  • BHP managed to hold above the $16 handle, despite closing 2% lower at $16.05.
  • The gold sector remains strong – Newcrest (NCM) closed 8.3% higher at $16.80, Regis Resources (RRL) up 12.3% at $2.83 and OceanaGold (OGC) up 11.5% to $3.87.

Best Sector – Telcos
Worst Sector – Financials

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