Australian Investment Blog

Good Afternoon everyone

Market Data

What Mattered Today

A quieter day on the bourse today with the index up +7pts despite a weak lead from the States overnight…Commodities were again the weakest link with more detail emerging about the Samarco law suit which has embroiled BHP.

Analysts working hard to determine what it actually means and we’ve read a number of differing views….the key takeout though remains that all are simply speculating and the inability to quantify the financial impact with any certainty will likely put a lid on the stock in the short term.

As discussed in the morning note, we’re looking at BHP, however would need to see lower levels before we get keen….

NAB reported a decent 1H16 result today….$3.310bn profit, bad debts $375m, margins 1.93%, dividend 99 cents, no surprises which is rare for NAB. Could they be turning over a new leaf??

Details in the table below. It’s coming off a low base and alongside ANZ, is cheap v peers. Stock up +1.98% post result while ANZ was also higher today adding +1.77% and is now up +11% since the morning they reported (opened that day at $22.80).

Macquarie (MQG) was good today – up +2.88% to $65.30. We talked about the likelihood of a stronger $US over the next few months being a headwind for commodity prices. A strong dollar is a positive for MQG earnings at a time when MQG has been HIT hard in recent times…..QBE is another one to benefit from a stronger $US which we touched on yesterday

Stocks & Sectors Today

Source; Bloomberg


ASX 200 Movers

***What Matters Tonight***

European leads are stronger with the FUTURES on the FTSE +39, DAX +59 & CAC +20
In the US DOW FUTURES are up +57pts and the S&P 500 FUTURES are up +7

US Non-Farm Payrolls tomorrow night.


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 04/05/2016. 5:30PM.

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