ASX Stock and CFD Report 12-05-09

View Full Report

The SFE Futures suggested a 51 point fall in the market. BHP and RIO down in ADR form overnight – 2.57% and 2.44% respectively. (BHP closed at the equivalent of 3503c, down 25c on yesterday’s close.) Metals all down overnight – Copper down 2.56%, Zinc 0.84% and Aluminium 0.32%. Nickel down 2.66%. Oil price down 79c to $57.79. Gold down $1.40 to $913.50. Bonds up with the 10 year yield down to 3.1736%. A$/US$ down to 75.90c.

Last week the banks had massive rallies so a pull-back is not a surprise – Wells Fargo was up 43.7% last week alone and JP Morgan was up 19.9%. Multiline Insurers and life and health insurers were hit the hardest – down 7.5% and 10.5% – down on the continuing debate over healthcare reform and the impact it will have on the industry. Tech stocks just up – Microsoft down 0.5% as they announced they will be raising cash through a debt issuance – didn’t reveal what amount they would raise, but last September noted they could take on up to $6bn in debt – Microsoft has $25bn in
cash. Telecom stocks comprised the only sector making a mentionable gain – AT&T will buy $2.35bn in assets from Verizon. Energy stocks down on the lower oil price after Fridays strong session – Occidental Petroleum down 3.7%. Ford Motors announced a public offering of 300m shares of common stock to partly fund the retiree health care trust.

The market is down 58. The SFE futures suggested a 51 point fall in the market this morning. Most sectors down. Resources and industrials getting hit the hardest – down 2.3% and 2.8%. BHP and RIO down 2.6% and 1.2%. Property trusts doing OK – up 0.2%. Energy  stocks down 1.7% after recent strong gains. Gold stocks mixed – NCM and LGL actually up despite the lower gold price overnight.

Tricom Today Australian Stock Market Report 16-4-09

View Full Report

The SFE Futures suggested a 38 point rise in the market. BHP and RIO mixed in ADR form overnight – BHP up 1.95% and RIO down 1.69%. (BHP closed at the equivalent of 3337c, down 17c on yesterday’s close.) Metals all up overnight – Copper up 2.55%, Zinc 5.56% and Aluminium 0.13%. Nickel up 5.49%. Oil price down 25c to $49.26. Gold up $1.50 to $893.50. Bonds up with the 10 year yield down to 2.7653%. A$/US$ down 0.04% to 72.79c.

Technology stocks underperformed. Financials up 5.6% – best performing sector. JP Morgan up 6% ahead of their results tomorrow. Fed’s Beige book said the pace of economic contraction is slowing. Intel beat earnings expectations. The administration announced the first 6 companies who would be participating in the $75bn program designed to save struggling home owners from losing their homes. The government said certain mortgage companies would receive a maximum of $9.9bn to encouraged them to lower monthly repayment obligations for the those struggling with home loans. Technology stocks down 0.7% – most the large caps were down. Intel’s results were
better than expected and they said that the bottom for the personal computer market was now behind them. Google was up ahead of its quarterly results tomorrow.

The market is up 53. The SFE Futures suggested a 58 point rise in the market this morning. Resources just up – BHP unchanged. Copper and Zinc both up over 5% last night and the respective metal stocks are flying again today. Property trusts all up. Financials up nearly 2%. Banks all doing well after another strong night in US financials. Industrials up 2.5% with the majors all up.

Tricom Today ASX Stock Market Report 23-3-09

View Report

The SFE Futures suggested a 20 point fall in the market. BHP and RIO both down in ADR form Friday – 1.29% and 0.18% respectively. (BHP closed at the equivalent of 3224c, up 6c on Friday’s close.)Metals down Friday – Copper down 1.10%, Zinc 0.32% and Aluminium 0.27%. Nickel down 0.30%. Oil price up 0.20% to $51.55 on a quite day in the energy sector after oil’s best weekly run in a month. Gold down $2.60 to $956.20. Bonds up slightly with the 10 year yield down to 2.6309%. A$/US$ up 0.49% to 68.99c. Industrials down 3.3% – General Electric down despite positive broker comments about their capital position and liquidity. Defensive stocks outperformed – up 0.1%. Healthcare up 0.2%Defensives have been the worst performers over the last couple of weeks during the rally. Financials down 5.3% – still up 40% since March 6th – Treasury’s Geithner is expected to announce Monday the details of the government’s $1 trillion package to buy troubled securities from the balance sheets of major banks utilizing the new government entity – the Public Investment Corp – using the resources of the $700bn bank bailout fund announced on February 10. The market has started the week off in a positive mood 0- up 43 – despite the SFE Futures suggesting a 20 point fall this morning and the 122 point fall in the US on Friday. Financials, Property Trusts and Resources are maintaining their recent good form.

Tricom Today ASX Stock Market Report 16-3-09

View Report

The SFE Futures suggested a 26 point rise in the market. BHP and RIO both up in ADR form Friday – 2.30% and 0.8% respectively. (BHP closed at the equivalent of 3186c, up 20c on Friday’s close.)Metals mostly up Friday – Copper up 2.51%, Zinc down 0.16% and Aluminium up 0.52%. Nickel up 1.53%. Oil price down 1.5% to $46.22. Gold up $6.10 to $930.10. Bonds down with the 10 year yield up to 2.8921%. A$/US$ down 0.5% to 65.475c. Obama announced a $730m package to provide assistance to small business owners. The government also plans to increase the government guarantee on some small business administration loans to 90%. They will also boost bank liquidity with
$10bn in an attempt to unfreeze the secondary credit market. Healthcare – the largest sector in the S&P 500 – up 3.3% after recent heavy selling pressure due to fears over government reform. Energy down the most – fell 0.7% on the lower oil price. OPEC’s meeting over the weekend only created more uncertainty about demand and stabilizing prices. They did not make a cut to production but urged their members to stop overproducing. The market is up 16 in-line with the 26 point rise predicted by the SFE Futures this morning. A pretty flat start to the week with not a lot of significant news around. Resources struggling, Property Trusts and Banks doing well.

Tricom Today ASX Stock Market Report 4-3-09

View Report

The SFE Futures suggested a 25 point fall in the market this morning.BHP and RIO both up in ADR form overnight – up 4.44% and 0.84% respectively. Metals mostly up overnight – Copper up 4.55%, Zinc up 3% and Nickel 1.05%.
Aluminium down 0.23%. Oil price up 3.7% to $41.57. Oil managed to hold early advances but trading was volatile after the last few weeks of losses in the face of a continuing synchronized global downturn. Gold down $26.40 to $913.60. Bonds down with the 10 year yield up to %2.88255. A$/US$ up to 63.73c. January Pending home sales down 7.7%- worse than the 3.5% expected. Job losses
are continuing and consumer confidence remains at all-time lows. Treasury secretary Geithner reiterated in Congress that Obama’s budget deficit was required to make long-term investment in healthcare, energy and education – the comments didn’t support market buying. The market is down 47 – bit disappointing considering the 25 point fall predicted by the SFE Futures this morning. Industrials the only sector up with Brambles outperforming, but most sectors struggling, most notably Property trusts. Energy stocks down despite the oil price bouncing overnight. 4th Q GDP Number is a bit of a horror – against consensus estimates for a small positive number of +0.2% the number has come out at -0.5%.

Tricom Today 28-1-09

View Report

The market is up 40 points compared to the 43 point rise predicted by the SFE Futures.The Banks putting in a great performance. Financials up 2.8%. CBA up 7.2%. Property Trusts are underperforming after Westfield – the sectors biggest company – announced late last night it would writedown $3bn worth of assets. Building stocks are struggling on the back of a profit warning from Boral – down 15%. Resources down 0.4% – BHP up 0.4% and RIO down 2.8% saying it won’t rule out an equity raising to pay down debt later this year.The Dow Futures suggest an 87 point gain on Wall Street tonight.

Tricom Today 21-1-09

View Report

Our market is down 66 but holding up well considering the Dow Jones falling 332 overnight and having its worst inauguration day fall in history. Most of the damage was already done in yesterdays 3% market fall. Financials falling again with all of the big 4 banks down 3-4%. Property Trusts down 3.0%, Westfield down another 4.1% today to 1173c and resources down 1.9%.

Obama’s inauguration is all over the media, blocking out almost everything else. Obama’s speech has continued with the message that it will get worse before it gets better with a somewhat disappointing plea for patience. Dow Futures currently up 26.

Tricom Today 19-1-09

View Report

The market is up 24 outperforming the 10 point rise predicted by the SFE Futures this morning. The major miners are mostly up with RIO leading the way. Banks mixed and Property Trusts are in the red after Citi put out a piece of negative research on industry leader Westfield (down 1.2%).