ASX Stock Report 9-4-10

1. Strong performing resources & energy sectors lead out in front today as our market early, with the energy sector holding strung up almost 1%. All early gains where sold off throughout the day’s trade.

• ASX 200 4948.1 +0.21%

• SPI Futures  4970 (-)

2. New Hope Corp NHC $5.30 (-0.19%) has bid for MCC $15.55 (+8.29%) prompting further competition for the coal miner’s assets. This comes whilst Peabody has taken its revised bid to the Takeovers Panel after it was rejected by MCC. Offer prices have come from $13.00, $14.00 – Peabody. Now a scrip offer of 2.7shares in NHC for every one share in MCC, which prices the company at $3.71Bil or $14.58/share. The combined entity will have a combined equity market cap of $8bil & a cash resource of $1.5bil.

3. Gold: China’s biggest gold producer, Zijin Mining Group Co. (2899.HK), extends its offer to buy Australia’s Indophil Resources NL (IRN.AU) $1.20 (-0.83%) to May 14 from the original deadline of April 16. DJ

4. NCM $35.63 (+0.37%) to begin construction immediately on approved gold and copper deposit in NSW. Newcrest chief Ian Smith “demonstrates the strength of Newcrest organic growth pipeline” this after the company has had a bid for LGL $3.99 (+0.76%) rejected.

5. Macmahon Holdings Ltd MAH $0.82 (-3.53%) is likely to win a $90mil government contract and is unaware of any T/O moves by Leighton. LEI $38.23 (-1.55%)18.56% stake in MAH, & 901M cash reserves as at 31st December 09.

6. Industrial Services: BLY $0.35 announces May 11th AGM. Stock has rallied two days in a row, ended flat today however good volume and prices coming through VWAP>close.

7. TSE $3.94 (-0.25%) confirms 30-yr road contract worth CAD580mil.

8. LEI hold 49.66% in property developer Devine TP $0.63. DVN $0.30 (+9.09%) trading ~50% discount to book value (54c), with a PE 6x, target yield 10% and gearing comfortable at 30%. DVN project pipeline is ~A$3b vs. mkt cap $175m

9. Property: FKP $0.74 (+1.37%) Property Group TP0.93 book value ($1.27), with EPS 9.3c & PE 8x pipeline is valued ~A43.5b vs. mkt cap $848m.

GEO $0.19 Property Group GPM NTA (37c) and we have a 30c price target. Have a payout ratio of 50%, yielding 8% and PE 7x

10. Retail: no substantial flow on effect to retail figures from US. Early gains for retailers sold off. MYR $3.35 DJS $4.70 (+0.21%) JBH $20.22 (+0.35%) supporting our view that model of high volume low margin product will benefit stockholders value per share & some tech products have become staple KMD $1.94 (+0.52%) PBG $1.335 (-2.55%)

11. Retail auto sellers performing well off the back of rebounding industry. Car sales YoY March +25.2% (from earlier this week). Super Cheap Auto $5.14 (+1.18%) Automotive Holdings $2.65 (-0.38%) ARB Corp $5.65 (+2.73%)

ASX Stock and CFD Report 21-09-09

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The SFE Futures up 7 points overnight. BHP and RIO in ADR form overnight, BHP down 1.60% and RIO down 0.58%. BHP was down 0.91% and RIO down 0.07% in the UK. BHP closed at the equivalent of 3864c, down 6c on last night’s close. Metals weaker on LME Copper down 3.32%, Nickel down 4.05%, Zinc down 2.53%, Aluminium down 2.53%, Lead down 2.43% Oil price down 43c to $72.04 Gold down $3.20 to $1010 Bonds down - 10 year yield at 3.474% up from 3.398%. A$ weaker86.57c versus 87.22c yesterday morning. CRB Commodities index down 0.74% VIX Volatility Index up 1.14%

Market up nine of the past eleven days. Up 2.2% for the week. For the week All ten sectors of the S&P 500 were up, led by Materials +4.7% and Financials +4.5%. S&P 500 now up 58% from its lows in March Telecom, Consumer Goods, Consumer Services, Utilities and Technology sectors led the market up on Friday. The Other five sectors were down. Other Consumer products stocks up included gains for Sara Lee up 5.7% and Home Depot.1.1%  Texas Instruments rallied after unveiling plans to raise its quarterly dividend by 1 US cent to 12 US cents A new economic forecast by Barclay’s Capital for GDP raised its projection for growth for the first three months of next year to 5% from 3% boosted sentiment Reports are circulating that international investors, headed by the Chinese, are boosting their holdings of US Treasuries, on a view that US inflation will remain subdued.

The market is down 18. The SFE Futures suggested a 7 point rise.

ASX200 Stock and CFD Report 31-8-09

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The SFE Futures up 2 points overnight. BHP and RIO in ADR form overnight, up 0.63% and 0.51%. BHP up 1.90% in theUK, RIO up 1.81%. BHP closed at the equivalent of 3803c, up 18c on last night’s close. Metals much stronger - Copper up 3.31%, Nickel up 1.54%, Zinc up 2.94%, Aluminium up 0.86%, Lead up 5.02% Oil price up 39c to $72.88 Gold price up $11.50 to $959 Bonds up - 10 year yield at 3.451% down from 3.462%. A$ up 84.23c versus 83.86c yesterday morning. CRB Commodities index up 0.50% VIX Volatility Index up 0.32% to 24.76

Another low volume session. Markets hit a new year high before backing off. Financials up 0.2%. Materials (resources) up 0.6%. Intel up 4.01% on increased earnings guidance. Dell and Marvel Tech up on results helping the NASDAQ to close in positive territory. Personal income and spending data in line with expectations and largely ignored. Sugar prices up 4% on Friday on news that cane output in the all-important Brazilian market was on the decline as rains across August damaged this year’s crop. University of Michigan Consumer Sentiment Index slightly above market expectations.

The market is up 34. The SFE Futures were up 2 this morning. Inflation Gauge in August came in unchanged after a 0.9% rise in July. The gauge is up 1.7% in year to August. Other economic releases today: Home Sales Figures for July; Corporate Profits seen falling 4.5% in Second Quarter; Inventories seen falling 1.1% last Q; Private Sector Credit seen rising 0.2% From June. Twenty-five stocks have hit a fresh yearly high this morning: Notables include NAB, ANZ, Harvey Norman, Macquarie Group and GUD

ASX200 Stock and CFD Report 21-8-09

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The SFE Futures up 13 points overnight. BHP and RIO in ADR form overnight, up 0.88% and down 0.72%. BHP up 1.86% in the UK, RIO up 1.00%. BHP closed at the equivalent of 3739c, up 26c on last night’s close. Metals mixed – Copper up 1.12%, Nickel up 0.31%, Zinc down 0.28%, Aluminium down 2.25%, Lead up 0.34% Oil price up a touch up 15c or 0.21% to $72.57. Natural gas prices down. Gold price down $3.30 to $942 Bonds up – 10 year yield at 3.4353% down from 3.463%. A$ up to 83.15c versus 82.99c yesterday morning. CRB Commodities index up 0.02% VIX Volatility Index down 4.46% to 25.09

Low volumes again. Market up 3% in three days. A recovery in Asian stockmarkets (particularly Chinese up 4.33%) provided some relief. Financials up a solid 2.6% with banks up 3.0% and insurance up 4.3%. Industrials up 1.2%. Sears belted (down 11.88%) on results although retailers still managed a 0.4% rise. Jobless claims numbers worse than expected. Looks like unemployment is going to remain reasonably high even whilst the economy initially stabilises/recovers. Philadelphia Fed index stronger than expected. Expecting business activity to increase in the next six months. The Leading index was up for the fourth straight month but in line with expectations. The Baltic Dry index fell over 3% last night. Not a great leader for resources and not exactly underpinning recent commodity price rises. Notably the iron ore price has also peaked. Bonds got a lift on a slightly smaller than expected bond issuance program that expected being announced for next week. Poor finish to the week – down 64.

The SFE Futures were up 13 this morning. Earnings results dominating the headlines.

ASX200 Stock and CFD Report 20-8-09

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The SFE Futures up 48 points overnight. BHP and RIO in ADR form overnight, down 0.32% and up 1.23%. BHP up 1.56% in the UK, RIO up 1.27%. BHP closed at the equivalent of 3712c, up 41c on last night’s close. Metals mixed - Copper down 1.68%, Nickel up 0.19%, Zinc up 0.79%, Aluminium down 2.79%, Lead up 0.06% Oil price up on big drop in US crude reserves up $3.23c or 4.67% to $72.42 Gold price stronger up $5.60 to $945 Bonds up - 10 year yield at 3.463% down from 3.526%. A$ up to 82.99c versus 82.63c yesterday morning. CRB Commodities index up 1.57% VIX Volatility Index up 0.31% to 26.26

Financials closed down slightly despite the market being up. Warren Buffett was quoted in the New York Times saying it is a slow road to recovery. Talk of a second fiscal stimulus package helped the market from midday although the White House said no announcement was imminent. Energy sector recovered from a 1% fall to a 1.9% gain on a big jump in oil prices, up 4.7% on a large drawdown in weekly crude inventories. CRB Commodities index up 1.5%. Hewlett Packard results ahead of expectations with maintained guidance but price down 0.3%. Limited Brands (LTD) up 4.37% BJ’s Wholesale (BJ) up 2.14% Hewlett-Packard (HPQ) down 0.3% Deere (DE) down 2.91%

The market is down 1. We were up 51 early on. The SFE Futures were up 48 this morning. Earnings results dominating the headlines.

ASX200 Stock and CFD Report 3-8-09

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The SFE Futures down 2 points from Friday. BHP closed in the US at the equivalent of 3767c, down 18c on Friday’s close. Metals up – Copper up 2.05%, Nickel up 4.79%, Zinc up 2.43%, Aluminium up 0.70%. Oil price up $2.51 or 3.61% to $69.45. Gold up $7.70 to $934. Bonds up – strong day for bonds – 10 year yield at 3.501% down from 3. 641%. A$ up to 83.47c versus 82.53c yesterday morning. CRB Commodities index up 1.67%. VIX Volatility Index up 2.05% to 25.92

S&P 500 up for the fifth consecutive monthly gain in July. Narrow trading range on Friday. 2nd Q GDP fell less-than-expected at annualised rate of 1.0% (consensus -1.5%) but within the number personal consumption fell more than expected at an annualised rate of 1.2% (consensus -0.5%) and on the news before the open the S&P 500 futures fell 10 points suggesting the number was not well received despite the headline. The 1st Q GDP number was revised down from -5.5% to -6.4% making the 1.0% drop in the 2nd Q that much more of an improvement. The US Treasury will announce the size of the bond auctions for mid-Aug this week. Materials (resources) sector up 0.9% with metals and most commodities up on the day. Financials up 4.4% in the last week. Walt Disney down 4% on numbers in line with expectations but sales down 6.9%.Chevron up despite reporting earnings of 87c compared to consensus of 95c

Good start to the week. The market is up 17 the SFE Future were down 2 this morning. There is a Bank Holiday in NSW today….it is a no settlement day on the ASX.

ASX200 Stock and CFD Report 15-7-09

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The SFE Futures up 35 points overnight. BHP and RIO both up in ADR form overnight, up 3.23% and 2.56%. RIO up 5.07% in the UK. BHP closed at the equivalent of 3355c, down 24c on last night’s close. Metals well up - Copper up 3.43%, Nickel up 5.83%, Zinc up 4.1%, Aluminium up 3.0%. Oil price down 7c to $59.62. Gold up 30c to $922. Bonds down - 10 year yield at 3.447% up from 3.346%. A$ up to $79.44 versus $78.41 yesterday morning. CRB Commodities index up 1.1%. VIX Volatility Index down 4.90% to 25.02.

Core PPI higher than expected: Actual 0.5%, consensus 0.1%, prior -0.1%. PPI higher than expected: Actual 1.8%, consensus 1.0%, prior 0.2%.Retail sales bit better than expected: Actual 0.6%, consensus 0.4%, prior 0.5% Retail sales ex-auto below expectations: Actual 0.3%, consensus 0.5%, prior 0.4% (revised from 0.5%) Business inventories bit better than expected: Actual -1.0%, consensus -0.8%, prior -1.3% (revised from -1.1%) Consumer discretionary stocks up 1.5%, one of the best sectors. Retailers up 1.6% on better than expected retail sales numbers although stripping out gasoline price rises they were a bit below expectations. Business inventories fell more than expected (good) for the ninth monthly fall on the trot. Energy sector up small on a small drop in the oil price.

The market is up 41. Up 48 at best. Up 3 at worst. The SFE Futures were up 35 overnight. Rio Tinto says it is business as usual and that they have not delayed iron ore shipments to China. The Reject Shop has hit a fresh yearly high. The Dow Futures are up 51 at noon on the back of a good set of results from Intel after hours.

ASX200 Stock and CFD Report 14-7-09

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The SFE Futures up 58 points overnight. BHP and RIO both up in ADR form overnight, up 2.58% and 3.40%. BHP closed at the equivalent of 3291c, up 71c on last night’s close. Metals mixed – Copper up 0.8%, Nickel up 1.7%, Zinc down 3.7%, Aluminium down 0.8%. Oil price down 24c to US$59.69 to an eight week low. Gold up $10 to $922. Up 1.10%. Bonds down – 10 year yield at 3.346% up from 3.295%. A$ up to 78.41c versus 77.96c yesterday morning. CRB Commodities index up 0.1%. VIX Volatility Index down 9.34% to 26.31.

The US Financial sector rallied 120% from its March low to the May high. All sectors up overnight. Housebuilders underperformed. US budget deficit was above US$1 trillion for the first nine months of the current fiscal year (its now US$1.1 trillion). Nickel up as workers at Sudbury, Ontario Vale SA facility (one of the biggest nickel mines in the world) began a picket after knocking back new wage contracts In the UK insurer Friends Provident Plc rejected a 1.7bn pound scrip bid by Resolution Ltd. Porsche SE up on press reports that Qatar had offered to buy a stake. Budget statement – Budget deficit: Actual -$94.3B, Consensus -$77.5B, prior $33.5B UBS claims it is now in talks with US authorities to settle a lawsuit seeking the names of 52,000 American account holders suspected of using Swiss secrecy laws for the purpose of tax evasion.

Good day for the market. We are up 112. The SFE Futures were up 58 this morning. Resources performing strongly – both up 3% and all major banks doing well on the back of a 6.5% rise in the US Financial sector. The NAB Business Survey has come in better than expected and registered its first positive reading since December 2007. Business confidence up 6 to 4. Business conditions up 12 to minus 2.

ASX200 Stock and CFD Report 10-7-09

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The SFE Futures up 13 points overnight. BHP and RIO both up in ADR form overnight, up 0.76% and 1.94%. RIO up 3.7% in the UK. BHP closed at the equivalent of 3225c, down 4c on last night’s close. Metals mostly up – Copper up 3.7%, Nickel down 0.3%, Zinc up 1.4%, Aluminium up 2.4%. Oil price up a few cents, enough to break a 6 day losing streak. Up 21c to $60.36. Still on close to a seven week low. Gold up $7 to $916. Up 0.76%. Hit a 2 month low yesterday. Bonds down – 10 year yield at 3.413% up from 3.289%. A$ up to $78.38 versus $77.99 yesterday morning.CRB Commodities index up 1.4% on a fall in the US dollar. VIX Volatility Index down 4.86% to 29.78. Hit 33 mid session yesterday.

Semiconductor sector up 2.8%. Retailers up 0.4%despite a number of disappointing same store June retail salesnumbers. US$ fell helping commodity prices to go up. Alcoa didn’t manage to hold it’s after market rally post yesterday’s results and closed down 2.4% on the day. Warren Buffett commented that the US economy was not yet in recovery and could need more federal stimulus.  Materials (Resources) up 1.0%. Energy sector up 1.1%on the first rise in the oil price in a week. Financials up 1.4%. Best sector on the day. Goldman Sachs Group Inc and others saw upgraded earnings projections from analysts ahead of upcoming June quarter results.

The market is up 10 having been up 28 at best. The SFE Future were up 13 overnight. The Dow Futures are down 13 at midday. Media sector dominating the headlines with both James Packer and Kerry Stokes lifting their stakes in Consolidated Media Holdings and one broker ugrading recommendations in the sector saying it is approaching a turning point. .

ASX Stock and CFD Report 3-7-09

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The SFE Futures fell 82 points overnight. BHP and RIO both down in ADR form overnight, down 3.46% and 3.35%. BHP closed at the equivalent of 3383c, down 47c on last night’s close. Metals down – Copper down 1.06%, Nickel down 0.26%, Zinc down 1.53%, Aluminium down 1.35%. Oil price down a big 3.8% or $2.64 to $66.68 on the weak jobs numbers. June Non-farm Payrolls and Unemployment Rate worse than expected – “US Economy not recovering” doesn’t exactly make a good headline. Gold down $10 to $931. Down 1.09%. Bonds up – 10 year yield at 3.495% down from 3.544%.VIX Volatility Index down 6.6% to 27.95.

The NYSE close was delayed 15 minutes because of so-called “connectivity problems”. Metals down as the US$ rallied. US $ up on Chinese comments (this time by the country’s Vice Foreign Minister) talking up its preference for a stable US$ and downplayed its recent calls for a new international currency ahead of next week’s G- 8 meeting.

Financials down 3.7%. All 40 stocks in the S&P 500 Energy Index went lower on a big drop in the oil price. The jobs data mostly the reason for the fall although total US daily fuel demand in the four weeks ended 26 June was 5.8% below year-ago levels, according to US Energy Department data. Bonds up with the 2-year Treasury note yield dropping under 1% for the first time since early June. The US Treasury intends to auction US$73bn in notes and bonds over next week.

The market is down 59 and improving. Down 73 at worst. We have the disappointing employment figures in the US overnight to thank for the poor finish to the week. Wall St. closed tonight for 4th July celebrations. Quiet day on the news front. Less than a month to go before reporting season kicks off. Centrebet (CIL) has hit a fresh yearly low this morning.

ASX Stock and CFD Report 1-7-09

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The SFE Futures suggested a 24 point fall in the market this morning. BHP and RIO both down in ADR form overnight, down 1.21% and 3.01%. BHP closed at the equivalent of 3397c, down 75c on last night’s close. Metals down – Copper down 2.64%, Nickel down 2.69%, Zinc down 0.72%, Aluminium down 0.7%. Oil price down 2.3% or $1.65 to $69.82. Gold down $13 to $927. Down 1.41%. Bonds down – 10 year yield at 3.523% up from 3.492%. A$ up to 80.56c.VIX Volatility Index up 3.94% to 26.35.

Financials down 1.1% but closed the Quarter up 44%. Materials sector (Resources) down 1.3% on a strong US$ (up 0.4%). Sector up 16% on the Q. Consumer confidence below expectations: Actual 49.3, consensus 55.3, prior 54.8 (revised from 54.9) S&P/Case Shiller Home price index OK: Actual -18.12%, Consensus -18.63%, prior -18.72% (revised from -18.70%) UK House prices up 0.9% in June….a green shoot. Chicago PMI touch better than expected: Actual 39.9, consensus 39.0, prior 34.9. ADP Employment report tonight in the US gives the market the lead on theThursday Jobs numbers.The European Central Bank meets on interest rates tomorrow.The Bank of England next week. Tankan survey of manufacturing activity in Japan due out today. Expected to be up off a record low.

The market is down 87 compared to the 24 point fall the SFE Futures predicting this morning. The market popping 20 points on the end of day match out yesterday hasn’t helped our performance this morning - seems we have lost that end of financial year window dressing on the open.

ASX Stock and CFD Report 30-6-09

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The SFE Futures suggested a 41 point rise in the market this morning. BHP and RIO both up in ADR form overnight, up 1.43% and 2.84%. BHP closed at the equivalent of 3430c, up 40c on last night’s close. Metals mostly down – Copper up 1.24%, Nickel down 0.01%, Zinc down 1.48%, Aluminium down 0.25%. Oil price up 3.34% or $2.31 to $71.47. Gold down 30c to 940.70. Bonds up – 10 year yield at 3.4920% down from 3.5060%. A$ up to 80.78c. VIX Volatility Index down 2.24% to 35.25. Tech stocks up 0.7%. Nasdaq underperformed.

Oil price up a big 3.4% on suggestions the Chinese want to boost oil reserves by 160% and on continued Nigerian oil supply disruptions. Nigerian militants haveeffectively shut a field operated by Royal Dutch Shell Plc. The rise came despite the IEA (International Energy Agency) cutting their 5 year oil demand forecasts through to 2013.ADP Employment report for June is out tonight and will give us a lead on the jobs numbers on Thursday. Also have US consumer confidence and ISMManufacturing Report tonight. Alcoa Inc – which reports its June quarter earnings next week – was the only Dow universe stock to fall on the day. Sugar prices surged to highs last seen some three years ago, as speculation mounted that output in the all important Indian market could fall short of current expectations on the back of below-average rainfall. Sugar prices are now 50%+ above levels seen in October.

The market is up 59. The SFE Futures predicted a 41 point rise this morning. Both JB Hi-Fi and Caltex Australian have hit a fresh 52 year high. Retailers dominating the headlines today after a David Jones guidance upgrade. Australia’s new home sales fell 5.7% in May from April but up 15% on the low in December. They were weaker than expected and suggest interest rate cuts are more likely. The Dow Futures suggest a 9 point rise on Wall St. tonight

ASX Stock and CFD Report 29-6-09

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The SFE Futures suggested a 1 point rise in the market this morning. BHP and RIO both down in ADR form overnight, down 2.18% and 0.91%. BHP closed at the equivalent of 3387c, down 31c on Friday night’s close. Metals down – Copper down 1.91%, Nickel up 0.81%, Zinc down 3.7%, Aluminium down 2.54%. Oil price down 0.8% or 54c to $69.16. Gold up $1.50 to $941. Up 0.16%. Bonds up – 10 year yield at 3.506% down from 3.546%. A$ hovering at 80.56c.VIX Volatility Index down 1.63% to 25.93. Dow Jones down but Nasdaq up and S&P 500 flat.

S&P 500 has first two week fall since the bottom in March.End of year window dressing and the annual reconstruction of the Russell indices (happened on Friday) made for a mushy session and the third highest volume this year most of which came in the last few minutes of the session. Bonds up – from Friday to Friday US 10 year bond rates fell 25bp. Financials up 0.6%. Energy sector down on lower oil price. Nigeria has offered to free the leader of themain insurgent movement in the oil-rich Niger Delta region. Housebuilders down on poor results from KB Homes which fell 9%. Google and Apple helped the Nasdaq to close up. Slow news session. Personal income and spending numbers higher than expected helped by Obama stimulus spending – feeds into this Q’s GDP numbers but economists question the sustainability once the fiscal stimulus expires. In Europe UBS AG fell after raising around 3.8bn Swiss francs in a share issue to institutional investors. They also flagged a bigger than expected Q2 loss.

The market is up 3 compared to the 1 point gain the SFE Futures predicted this morning. We were up 23 at best this morning. Wotif.com has hit a fresh yearly high today as has Karoon Gas. The Dow Futures suggest an 11 point fall on Wall Street tonight.

Morning Stock Report – Stocks to Watch

International Markets

• Market:

-          U.S. stocks pare early declines as global economic jitters return. Dow ends week -1.2%, S&P500 -0.3%, Nasdaq +0.6%.

-          Sectors: Best; Healthcare +0.6%, Basic Materials +0.3%, Financials unch. Worst; Oil & Gas -1.3%, Technology -0.7%, Industrials -0.4%.

-          Savings rate surges to 6.9%, highest since Dec ’93 due to effect of stimulus. Indicates Eco will be slow to gather strength.

-          USD slips against its trading partners, China’s central bank reiterated call for a worldwide currency.

• Commodities:

-          Gold: touched 2 week high, first weekly gain since May on USD weakness.

-          Oil & Copper: Pull back on household savings rate data, concerns equity markets signal weaker outlook for eco.

-          Iron Ore: News reports Anglo plans to begin talks with Chinalco about investing in Brazilian Iron Ore business.

-          Platinum: Rose on spec’n Lonmin (3^rd largest producer) will miss output target, and on USD weakness.

-          Agriculture: Potash Corp cut 2 qtr profit amid weakening demand. 70cps v prev guidance of $1.10 – %1.50.

• U.S. Data Releases:

-          Uni of Mich. Confidence: 70.8 v cons. 69.0.

-          PCE Core: YoY 1.8%; MoM 0.1% both meet cons.

-          PCE Deflator: YoY 0.1% v cons. 0.1%: smallest gain since records began in ’59.

-          Pers. Income: 1.4% v cons. 0.3%: biggest rise over past year.

-          Pers. Spending: 0.3% v cons. 0.3%: 1^st gain in 3 months.

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Morning Stock Report – Stocks to Watch 24-6-09

International Markets

• US hold it together trading over a tight range on light vol ahead of FOMC tomorrow.
• Weaker USD continues to be the catalyst for Energy & Metal plays. Energy Dept report due tomorrow, expected to show supplies falling again.
• USD index -1.3%, helped revive golds. Anglo +2.9%, Newmont +3.6%, Barrick +4.1%.
• Platinum drop to 3 week low on lower concerns on inflation blow out.
• Treasuries gained after Govt sold $40bn of 2yr bonds at 1.151% yield, lower than forecast. US 10yr 3.62%.
• Eco: Existing homes sales 4.77m v cons 4.82m, House px index MoM -0.1% v cons -0.4% (Median px -17%); ABC consumer confidence -53 v cons -47

Stocks to Watch

BUY  Price                                                                                                                            Target

IOF  $0.49 Uncertainty removed,debt pressurealleviated.                                           $0.80

DXS  $0.735 Trading at 33%discount to the post raising NTA$1.14.                         $0.93

CFX  $1.645 Strong revenue streamand low debt levels.                                             $1.85

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ASX200 Stock and CFD Report 23-6-09

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The SFE Futures suggest an 89 point fall in the market this morning. BHP and RIO both down in ADR form overnight, down 5.26% and 8.93%. BHP closed at the equivalent of 3377c, down 148c on last night’s close. Metals hit hard – Copper down 5.4%, Nickel down 4.7%, Zinc down 4.91%, Aluminium down 6.6%. Oil price down 3.6% or $2.51c to $67.09. Gold down $15 to $921. Down 1.6%. Bonds up – 10 year yield at 3.693% down from 3.789%. The rise in bonds helps the US$104bn of bond issuance scheduled for this week. A$ at 78.67c.VIX Volatility Index 11.36% to 31.17.

Bank of America down 10% – two board members resigned. Apple Inc fell on ‘key man risk’ related selling, as talk intensified that its CEO, Steve Jobs, had undergone a liver transplant about two months ago. Gold price at 5 week lows. Russia’s Micex Index is now down 20% since its 2009 peak, making it the first benchmark equity index to enter a bear market since global stocks began rallying in March. Better than expected German business confidence index numbers didn’t stop the DAX falling 3%. European Central Bank Governing Council member Ewald Nowotny commented that the bank was likely to keep interest rates steady for at least the rest of 2009. Financials worst hit - down 6.2%. Diversified Financial services down 7.5%. Sector still up 50% from March lows. Energy sector down 4.6% on the fall in the oil price. Materials (Resources) sector down 5.3% on sharp falls in metal prices. CRB Commodities index fell 2.7% – biggest fall in 2 weeks.Anglo America rejected the Xstrata bid approach as being completely inadequate.

Our market is having a shocker – down 120 on the back of Wall Street losing a couple of hundred points overnight. Nothing has been spared – both Resources and Financials suffering along with everything else.

ASX Stock and CFD Report 18-5-09

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The SFE Futures suggested a 42 point fall in the market. BHP and RIO both down in ADR form Friday - 1.51% and 0.28% respectively. (BHP closed at the equivalent of 3295c, down 39c on Friday’s close.) Metals mixed Friday - Copper up 0.11%, Zinc down 0.27% and Aluminium down 0.65%. Nickel down 0.80%. Oil price down $2.06 to $56.52. Gold up $2.90 to $931.30. Bonds down with the 10 year yield up to 3.136%. A$/US$ down to 74.92c.

Financials down 2.5% – was the worst performing sector. Regional banks down 3% – Fitch put a few banks on Credit Watch Negative. Obama’s budget director said the worst of the economic crisis is over. Said the US economy seems to have bottomed out. The White House is revising its unemployment expectations up. Reinforced the need to restructure the US’s healthcare policies. Life and health insurers down 3.5% – there was news that the sector will need to access about $22bn of the government’s TARP funds - the negativity came when analysts said the government funds won’t necessarily mean their ratings get upgraded and that the sector faces tough headwinds.Energy stocks down 2.2% – oil was down 3.5%. Utility stocks continued their downward streak. Retailers down 0.7% – JC Penny and Nordstrom posted better than expected earnings. The tech stocks did the best and was the only sector up for most of the session – still finished just down 0.1%.

The market is down 39. The SFE futures suggested a 42 point fall in the market this morning. Resources down - BHP and RIO down 1.6% and 3.1%. Capital raisings continue with Graincorp raising $90m and Billabong raising $290m. Not helping retailers is a Billabong profit warning at the same time. HVN down 4.3%. Westpac Bank is ex dividend 56c today. Great Southern Plantations (GTP) has gone bust. Money doesn’t grow on trees after all.

ASX Stock and CFD Report 14-5-08

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The SFE Futures suggested an 86 point fall in the market. BHP and RIO both down in ADR form overnight – 5.26% and 9.19% respectively. (BHP closed at the equivalent of 3288c, up 155c on yesterday’s close.) Metals down overnight – Copper down 3.35%, Zinc 4.47% and Aluminium 1.29%. Nickel down 1.36%. Oil price down 81c to $58.00. Gold up $2.00 to $925.90. Bonds up with the 10 year yield down to 3.1149%. A$/US$ down to 75.32c.

Financials down 5.2% – The KBW Bank Index – includes 24 of the US,s largest banks – was down 6.5%. Financials down 13% week-to-date. US lawmakers are demanding details from AIG about their asset sales program and the progress being made towards repaying the US taxpayer. CEO Edward Liddy said the risk of AIG failing and its consequent impact on the global financial crisis has been reduced but not eliminated. Standard & Poors said the nation’s banking crisis has not ended but “merely entered a new phase”, noting the fact that the largest financial institutions are being
propped up by billions of dollars of government support.

Energy stocks down 3% on the lower oil price. OPEC gave a lower demand forecast. Retailers down 3.3% on the worse-than-expected April retail sales figures. Wal- Mart down slightly outperforming the broader market ahead of its quarterly results tomorrow. Not a good day – down 113 – the SFE Futures suggested an 83 point fall. It is the fourth
consecutive day that the market has gone backwards despite some rises on Wall St. Resources doing most of the damage. BHP and RIO down 5.7% and 10.2% respectively.Financials down 2.5%. Energy stocks thumped.