-
Tricom Today ASX Stock Market Report 26-2-09
The market is up 20 – doing better-than-expected after the negative session in the US – outperforming the 10 point fall predicted by the SFE Futures this morning. Macquarie has been getting thumped this year….down 62% from 4329c in January to a low of 1625c today. They have dropped 33% in less than two weeks….and you can’t even short the stock(!). They have popped out an announcement this morning telling us that they are not about to have a capital raising. There are suggestions on the newswires that ASIC (the government) will once again extend the ban on shorting financials from its expiry date a week tomorrow (March 6th). The stock is attracting a lot of attention and trade at the moment. Resources unchanged – BHP unchanged and RIO up 0.7% following a negative lead from the US miners.
Bendigo and Adelaide Bank down 5.1% having gone ex dividend. Fortescue Metals down 5.7% as it starts trading again having pulled a $500m institutional placement with institutions unwilling to pay the 248c price paid by Hunan
Valin. OZ Minerals up 9.1% after big falls yesterday with their Friday $1.1bn debt rollover deadline looming and suggestions they are moments away from announcing a $425m sale of assets. Pacific Brands are closing down their Australian manufacturing operations in Australia (7 factories) after 92 years and will be moving them offshore. They are sacking 1850 staff. Price up 11.4%. Wesfarmers has completed their Retail Entitlement offer. There was a 60% take up. Babcock & Brown Power (BBP) has had a profit warning. Arrow Energy (AOE) – Pure Energy independent directors accept the superior BG offer. BG will now have a 29% stake in PES. Shareholders accept BG bid. -
Tricom Today ASX Stock Market Report 23-2-09
The market is down 46 after being down 90 earlier poor performance today underperforming the 3 point rise predicted by the SFE Futures this morning. Property down 2.3% – all the big names down Westfield Group down 3.6% at midday. They have results this week. Caltex down 6.1% on broker downgrades this morning after results down 95% on Friday. All other energy stocks down on the lower oil price Friday. Gold stocks all up on the gold price breaking through the $1000 barrier Friday. Small miners mostly down on lower metal prices. Industrials down 4.6% – Fairfax down, Virgin Blue down, and Transfield Services down on results. Cochlear down nearly 4.4% at midday having gone ex dividend 80c. Macquarie Infrastructure down 7% and Macquarie Airports down 5.3% on suggestions that the Macquarie stable is being shorted whilst Macquarie Group remains protected by the shorting ban on financials which comes off on Friday week. MQG still fell 14% last week. Financials down 1.3% following a turbulent session in the sector in the US Friday where financials were down 9% at one stage on concerns over the need for Citigroup and the Bank of America to be nationalised. Our Banks all down 1-2% around midday. ANZ down 2.5%.
-
Tricom Today Stock Market Report 18-2-09
The market is down 82, bit worse than the 70 point fall predicted by the SFE Futures thismorning. No one seems impressed by Obama’s grand homilies during the signing of the $787bn stimulus package and the reality is sinking in that it will take some time before the injection gains any traction. Retail trade numbers today. 4th Q sales up 0.8% compared with forecasts of +1.0%. This Q is more important did the $10.4bn stimulus package carry beyond Christmas.Gerry Harvey says no. Ten Network still in a trading halt whilst it does its institutional placement. Resources down 2.6% – No one seems to think the OZ Minerals deal is going to go through brokers note the many regulatory hurdles and reiterate that OZL’s banks could still pull their financing although it would seem imprudent. Down 9.3% or 7.5c to 57c. BHP and RIO down 4.2% and 4.3% following heavy falls in the miners in the US. Oil
and metals down on renewed fears about global demand. RIO went ex dividend 101.48c this morning. Industrials down 2.0%. Financials down 3.0%. Property sector down 4.7% – down 22% for the month and down 33% in a rolling quarter. Down 74% from the top of the property sectorin February 2007. At lowest levels since 1983. -
Tricom Today Stock Market Report 16-2-09
The market is down 36, down 59 at worst in-line now with the 22 point fall predicted by the SFE Futures this morning. Most sectors down. BHP and RIO down 1.4% and 1.8%. Only energy, consumer staples and healthcare up slightly. Industrials down 3.0% with Brambles down 7% early on posting 1H NPAT of US$195.3m. Challenger up 6.4% on normalised net profit up 3.9% to $105.9m. Gold stocks mixed on the lower gold price. Energy stocks mostly
down despite the 10% jump in the oil price on March contract short covering. PanAust up 8% early on announcing production costs. Financials down 1.1%. Banks mixed. CBA down 4.1% after going ex dividend 113c. -
Tricom Today 13-2-09
The Aussie market is up 32 basically in-line with the 20 point rise predicted by the SFE Futures this morning. Pretty quiet not much news apart from RIOs Chinalco deal and a few results. RIO is down 3.9%. BHP down 0.4%. Resources underperforming this morning down 0.4% on lower metal prices and a drop in the oil price. Oz Minerals announced they will incur writedowns of between $2.3bn-$2.8bn in FY08 accounts, including asset impairments.
Financials up 1.3% – banks all up by 1pm. ANZ up 7.7%after ruling out a capital raising in anannouncement last night noted their tier 1 ratio stood at 8.35%, well above regulatory requirements.Property sector down 2.8%. Westfield down another 4.1%. DXS down 5.8%.Last day to buy the CBA before it goes ex dividend 113c on Monday. Unchanged today at 3095c.The governments $41.5bn fiscal stimulus package has just been approved in the Senate. -
Tricom Today 2-2-09
The market is down 20 compared to the 64 point fall predicted by the SFE Futures this morning. Property down the most. Westfield down 6% in early trading having gone ex-dividend toady, now down 4%. Financials mixed. Resources down 0.5% with the fall in metals overnight and on the back of poor US economic numbers. BHP down 1.3% and RIO up 6.8% as it confirms it’s been in talks with Chinalco about the sale of its minority stakes in some of its operations reducing the need for a $6bn rights issue if the deal happens. Fortescue up 13% – on the back of its strong 1st H profit result late Friday – in-line with expectations with a strong cash position and record production. Gold stocks mostly up on the higher gold price Newcrest looking to raise $500 million in a fully underwritten equity placement.
- The Income Strategy
- Covered Calls
- Calendar Spreads
- Short-Terms Trading
- Portfolio Options
- Credit Spreads
