Market Matters Afternoon Report Wednesday 3rd August 2016

Afternoon Report 03/08/2016

Market Matters Afternoon Report Wednesday 3rd August 2016

Good Afternoon everyone

Market Data

What Mattered Today

The market followed on its downward slide after yesterday’s interest rate cut – buy the rate cut rumour, sell the fact continues to ring true!! The banks were once again in the firing line with NAB off 2.8% and Westpac (WBC) down 2.4% the worst of the bunch. RIO reported after-market today, and we’ll cover our thoughts below…

A range today of +/- 67 points, a high of 5532, a low and close of 5465, down -75 points or -1.35%

ASX 200 Intraday Chart

ASX 200 Daily Chart

Rio Tinto (RIO) reported after market, and the result looks a bit messy. Beats on the NPAT level by +7%, the dividend by +10%, Group EBITDA by a very slight +1%, Net debt was lower than expected by -4%, CapEx was a better by a significant -39% however, the obvious misses were on the top line by with revenue a 6% miss, iron ore EBITDA 3% below forecast and Cashflow a miss by 26%. All up, a result that probably won’t get the markets animal spirits firing…

Rio Tinto (RIO) Daily Chart

Sectors

Source; Bloomberg

ASX 200 Movers

Reporting this week

NPAT = net profit after tax (consensus numbers)
EPS = earnings per share (consensus numbers)
DPS = dividend per share (consensus numbers)

Select Economic Data – Today & Tomorrow; Stuff that really Matters in Green

What Matters Overseas

Albemarle, American Water Works, CenturyLink, CF Industries Holdings, Cimarex Energy, Clorox Co, Delphi Automotive, Devon Energy, Dominion Resources, Dun & Bradstreet, Equinix, Humana, Intercontinental Exchange, Leucadia National, Lincoln National, Marathon Oil, MetLife, Motorola Solutions, Noble Energy, Occidental Petroleum, Perrigo Co, Prudential Financial, Qorvo, Quanta Services, Spectra Energy, Tesoro, Time Warner, Transocean, TripAdvisor, Western Union, Xcel Energy, Zoetis

FUTURES pointing to a good start…

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 3/08/2016. 5:00PM.

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