Author: james Carter
My thoughts on 5 company reports that matter from yesterday
• The ASX 200 closed 25 points lower (-0.4%) at 5,743 with the utilities sector underperforming the broader market. E.g. AGL Energy closed 2.1% lower at $14.76 following yesterday’s earnings result as well as the weak lead in the US.• We exited Suncorp (SUN) early this morning after evaluating yesterday’s company report. I would not consider buying the stock if I had no position so the decision to exit was easy. At these prices I am happier holding CBA.• Telstra (TLS) reported its half yearly earnings in line with consensus, the stock closed 4c lower at $6.45. We are remain happy holding this stock at present.• The Oil Sector closed weaker as expected; Woodside (WPL) ended 0.9% lower at $33.84 and Santos (STO) down 1.6% at $7.59.• RIO Tinto (RIO) closed slightly higher, up 0.2% at $59.90 as investors wait for its earnings report in hope of potential capital return.• Transurban (TCL) reported its earnings in line with expectations and upgraded its distribution forecast for the full year. TCL closed 0.8% lower at $9.23.• The ASX Limited (ASX) closed 1.2% lower at $39.65 after reporting its earnings in line with estimates. • The trend appears to be if stocks report in line with expectations they sell off slightly e.g. CBA and ASX.
Cheap money is going to get very interesting in the future
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What does the “Baltic Dry Index” reaching all-time lows mean for stocks?
Please see our MarketMatters Video Update 10th February 2015 – Current Opportunities, QBE & MYR
Do the REIT’s (Real Estate Investment Trusts) continue to be great Investments?
• The ASX 200 closed 5 points lower at 5,815, unable to make a 13 consecutive day in positive territory.• The banking sector closed mixed, with Commonwealth Bank (CBA) closed down 5c, or -0.1% at %92.93 while Westpac (WBC) closed 9c higher, or +0.2% at $37.05.• The Iron Ore sector underperformed the broader market as expected, with BHP Billiton (BHP) closing down 32c, or -1% at $31.223 and Fortescue Metals (FMG) down 4c, or -1.6% at $2.50. This sector remains to be a trading vehicle rather than investment, where we remain long term bearish this sector.• Ansell (ANN) outperformed, closing $1.24 higher, or +5.4% at 24.30 after lifting its first half profit by 34%. A stock we unfortunately exited at a profit too early.• Fairfax Media (FXJ) sold off, down 8.5c, or -8.9% at $0.875 after Gina Rhinehart sold her stake overnight at $0.8675 a share.
Oil has bounced over recent weeks, is it time to buy Oil stocks?
• The ASX 200 closed 9 points higher at 5820, marking its 12th consecutive day into positive territory.• The high yielding stocks had a breather after its recent rally. Commonwealth Bank (CBA) closed 29c lower, or -0.3% at $92.98 and Telstra (TLS) down 8c, or -1.2% at $6.59, however it was up 4.1% and 1.4% for the week.• The USD exposed stocks rallied well, e.g. Magellan (MFG) up 0.9% at %19.96, Macquarie (MQG) up 1.8% at $66.60.• The Gold sector underperformed the broader market, as investor took risk off the table, particularly in the safe haven asset. Newcrest (NCM) closed 16c lower, or -1.1% at $14.23.• OZ Forex (OFX) sold off, down 5.3% at $2.32 after it announced that the CEO has resigned and will step down once a they find a successor.• Watchout for the Hickman Report tomorrow.
Really bullish, there's more to go in the reflation rally
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