Overall, in the ASX200, biggest gain came from Transfield up 5.9% while the biggest loser was Evolution Mining down -5.1%.
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Tags: ASX, asx 200, investment, Market wrap, money, secrets of the rich, top gainers, ultra high net worth, Westpac-Melbourne Institute Leading Index
ASX200 fell again across the day and ended down for the sixth straight day, off -0.8% to 5063 with Small Ords down -0.4%.
Overall, market volume was good with $5.6b of turnover with 1b of volume as the top three stocks by volume were CBA, BHP and WBC, while in ASX200 breadth 60 up, 128 down and 13 flat.
Market Movers and Drivers
The market was driven down by the continued worry around the end of QE and the auto industry and unemployment shocks to confidence.
In data, the ACCI-WBC survey showed the manufacturing sector expanded for only the third quarter in two years.
Also, the ABS reported a rise in unemployment to 5.8% as expected for November, up from 5.7%.
Across the sectors, only Cons Staples and Utilities were up 0.3% and flat respectively. Leading down was Metals & Mining and IT down -1.6%, Energy down -1.5% and Materials -1.4%. Industrials fell -1.2% while Financials was off -0.8% while both Property and Telecoms were down -0.7%. Healthcare fell -0.5% with Cons Disc best of the worst down -0.4%.
Significant Market Moves
The major banks closed mixed, with ANZ losing 0.8% to $30.35, CBA ended 1.3% down at $73.51, WBC shed 0.2% to finish at $30.82 and NAB closed 0.5% higher at $33.04.
Miners BHP and RIO closed in the red, losing 1.8% and 1% to close at $35.54 and $65.14 respectively, with RIO announcing that it has already reached its $2b in cost cutting and will focus on paying down debt this coming year.
Best in the portfolio was WOW up 0.5%, while the worst stock was WDC down -2.7%.
In company news, Linc Energy (LNC) announced Malaysian hotel and gaming giant Genting will take a 10% stake showing according to their CEO that being in Singapore is key to future valuations.
APN News and Media (APN) says an error in its 2012 financial statements contained an error, meaning its loss was more than $50 million greater than that which was reported, as a result they closed down 3.3%.
Rio Tinto (RIO) says it has already exceeded its target of cutting $2 billion in operating costs by the end of the year and it will focus on paying down debt next year.
Envestra (ENV) forecast a small full year earnings upgrade on the back of higher than anticipated gas volume to the residential and commercial market so far this year.
AWE (AWE) has successfully executed a $300 million unsecured bank loan facility, positioning the oil and gas explorer for current and future growth activities.
Overall, in the ASX200, biggest gain came from Oz Minerals bounced up 12.1% after yesterday big loss, while the biggest loser was Transfield down -13.8 %
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ASX200 fell across the day and ended down for the fifth straight day, off -0.8% lower at 51.04, while the Small Ords was down -0.1%.
Overall, market volume was good with $4b of turnover with 727m of volume as the top three stocks by volume were BHP, QBE and WBC, while in ASX200 breadth 62 up, 115 down and 24 flat.
Market Movers and Drivers
The market was driven down by the continued fallout by QBE and QAN as well as uncertainty about pending US policy shifts.
In data, The WBC Melbourne Institute Index of Consumer Sentiment fell 4.8% to 1.05 as election confidence and the share market gains are wearing off according to WBC’s Bill Evans.
Across the sectors, only Utilities was up 0.8% while Healthcare led the sectors lower off -1.1% Cons Staples, Materials, Property and Metals & Mining all fell about -1% while Industrials and Financials fell -0.9% and -0.8% respectively. Energy fell -0.7% while Cons Disc fell -0.3%, Telecoms fell -0.2% and IT was down -0.1%
Significant Market Moves
The major banks closed lower, with ANZ losing 0.6% to $30.59, CBA ended 1% down at $74.50, WBC shed 1% to finish at $30.88 and NAB closed 0.9% lower at $32.87
Miners BHP and RIO closed in the red, losing 1.7% and 0.6% to close at $36.18 and $65.77 respectively.
Best in the portfolio was QBE up 1.8%, while the worst stock was SHL down -2.7%.
In company news, OZ Minerals (OZL) fell hard after issuing a gloomy update about its flagship Prominent Hill mine in South Australia saying production fell about 26% from last year’s estimate.
BHP announced plans to spend $4b annually to grow its US offshore oil and Gas production, including shale gas production. They said it should self fund by 2016 and generate over $3b of annual free cash flow by 2020.
Holden announced it will shutter its manufacturing in 2017.
Yancoal (YAL) has announced Treasurer Joe Hockey has relaxed certain foreign investment conditions that restricted ownership from Chinese state-owned Yanzhou Coal Mining Company and closed up 9.9%.
APA (APA) upgraded its earnings guidance by 2% on the back of a strong first half performance from its assets and investments, but ended flat on the day.
Fonterra Shareholders’ Fund (FSF) sank after the New Zealand dairy giant cut its 2014 dividend forecast as it battles against surging prices for milk powder.
Dexus Property (DXS) and the Canada Pension Plan Investment Board have again sweetened their takeover bid for the Commonwealth Property Office Fund (CPA), challenging a rival bid from GPT Group (GPT).
The tussle for Warrnambool Cheese & Butter Factory Co. (WCB) continues. Bega Cheese Limited (BGA) extended its takeover bid yesterday, while rival bidder Saputo boosted its stake to almost 15%.
Overall, in the ASX200, biggest gain came from Resolute Mining up 22.4%, while the biggest loser was Oz Minerals down -14.4%
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ASX200 jumped early but trended down over the day and ended flat but positive at 5144, while the Small Ords was down -0.4%%.
Overall, market volume was good with $5b of turnover with 860m of volume as the top three stocks by volume were QBE, BHP and CBA, while in ASX200 breadth 80 up, 101 down and 20 flat.
Market Movers and Drivers
The market was driven down by the fall in in energy stocks, and the QBE and QAN continued falls.
In data, the ABS reported home loan demand in October was up 1% as expected. Total housing finance by value rose 4.1% to $26.5b.
NAB’s November survey of business confidence and conditions reported a lift in conditions from -4 to -3, while confidence edged back to +5 in November, from +6 in October and +12 in September.
In sectors, Industrials led the market up 0.7% while only Healthcare and Cons Disc were positive up 0.4% and 0.3% respectively.
Meanwhile, Utilities led the sectors lower down -0.6% while Cons Staples and IT both fell -0.4%. Energy and Metals & Mining fell -0.3% while Property and Telecoms fell -0.1% andFinancials and Materials were negative but flat.
Significant Market Moves
The major banks closed higher, with ANZ rising 0.1% to $30.78, CBA ended 0.5% up at $75.26,WBC gained 0.3% to finish at $31.19 and NAB closed flat at $33.17.
Miners BHP and RIO closed mixed, gaining 0.1% and losing -0.5% to close at $36.82 and $66.17 respectively.
Best in the portfolio was SHL up 1.2%, while the worst stock was QBE down -9.8%.
In company news, Billabong (BBG) major shareholder Coastal Capital failed to remove Chairman Ian Pollard and directors Howards Mowlem and Sally Pitkin at yesterday’s AGM, and failed on a number of capital restriction proposals, closing 18.5% up at $0.39.
Recall (REC) made a positive but flat debut yesterday ending at $4.50.
Echo Entertainment (EGP) has announced a restructuring of their financing arrangements taking a $22m charge, closing 2.1% down at $2.35.
QBE Insurance (QBE) fell another 9.8% on top of yesterday’s 22% crash. The stock is now worth just $1b, from around $18.5b on Friday.
Woodside (WPL) rose 0.5% after cutting its production target for 2013 and reducing its estimated investment expenditure after deferring spending on its Leviathan project in Israel.
BHP Billiton (BHP) chief Andrew Mackenzie reaffirmed production guidance and told shareholders they are set to build on the reduction in cash costs they delivered in fiscal 2013, as well as reducing CAPEX.
Overall, in the ASX200, biggest gain came from Medusa (Mining) up 7.6%, while the biggest loser was Forge Group down -11.1%
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ASX200 fell across the day and ended down -1.4%, while the Small Ords was a touch better, only down -1.1%.
Overall, market volume was good with $5.8b of turnover with1.1b of volume as the top three stocks by volume were BHP, WBC and CBA, while in ASX200 breadth 35 up, 155 down and 11 flat.
Market Movers and Drivers
The market was driven down by the fall in health stocks, banks and the Qantas debacle.
In data, the ABS reported the trade deficit widened to a s.a. $529m for October, with exports declining by 1% while imports rose by 1%.
In sectors, IT led up 0.1% with Metals & Mining the only other positive sector but flat.
Meanwhile, all other sectors were lower, with Financials worst down -2%, Cons Disc down -1.6% and Cons Staples and Industrials both falling -1.5%. Property and Telecoms fell -1.4% whileHealthcare and Energy were off -1.2%. Materials and Utilities rounded out the losers, down -0.7% and -0.1% respectively.
Significant Market Moves
The major banks closed lower, with ANZ losing -1.8% to $31.19, CBA ended -1.7% down at $75.50, WBC shed -2.7% to finish at $31.49 and NAB closed -2.1% lower at $33.66.
Big miners BHP and RIO closed down, losing -0.1% and -0.4% to close at $36.78 and $66.00 respectively.
Best in the portfolio was CPU up 0.2, while the worst stock was WBC down -2.7%.
In company news, the ACCC wants to look more closely at BlueScope’s (BSL) planned purchase of Hills processing units Fielders and Orrcon. As they think it may rise competition issues with downstream processors. BSL closed up 0.6%.
Worleyparsons (WOR) has been awarded a $70m contract by a sub of Russia’s Gazprom, while its shares closed -2.2%.
Qantas (QAN) sank 11.2% on the back of an alarming profit tipping a half year loss of between $250 and $200m, also flagging executive pay cuts, job losses and a bid for government assistance.
Nufarm (NUF) fell -7.6% despite guiding to a lift in its half year net profit on the back of strong performance from its Brazil operations.
Warrnambool Cheese & Butter (WCB) is advising shareholders to take no action in relation to their shares until directors have reviewed a revised bid from Murray Goulburn Co-Operative.
Westfield (WDC) will buy the remaining 50% interest in the World Trade Center retail premises in New York for $US800m.
Overall, in the ASX200, biggest gain came from PanAust (PNA) up 9.3%, while the biggest loser was Qantas (QAN) down -11.2%
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Overall, in the ASX200, biggest gain came from Whitehaven Coal up 6.5% while the biggest loser was Silver Lake Resources down -17.4%.
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ASX200 came off an early morning high to settle down -0.3% on the day, while the Small Ords was a touch higher 0.1%.
Overall, market volume was low with $5.6b of turnover with 735m of volume as the top three stocks by volume were BHP, CBA and RIO, while in ASX200 breadth 65 up, 112 down and 24 flat.
Market Movers and Drivers
The market was drifted with the lack of data, few real result releases and the quiet US markets, only the Joe Hockey rejection of the ADM bid really affected markets.
In data RBA reported credit growth in the private sector rose 0.3% in October, following an identical 0.3% lift in both September and August. Annual growth came in at 3.5%, slightly higher than the 3.3% rise over the year to August. Housing credit increased by 0.5% in October, and 5% over the year to September. Business credit edged up 0.1% for the month, and 1.4% over the year.
In sectors, Metals & Mining led the way up 0.8% while Materials and Property were up 0.5% and 0.2% respectively.
Meanwhile, Energy was the worst sector down -1.3% while Cons Staples was off 0.9% andIndustrials off -0.8%. Healthcare fell -0.6% as Cons Disc and Utilities were down -0.4% and -0.3% respectively. Financials, Telecoms and IT all fell -0.2%.
Significant Market Moves
The major banks closed mixed, with ANZ falling 0.4% to $31.90, CBA ended 0.3% lower at $77.82, WBC fell 0.4% to finish at $32.88 and NAB closed 0.1% higher at $34.58.
Miners BHP and RIO led the session, gaining 0.5% and 2.6% to close at $37.39 and $66.06 respectively, as RIO announced its intention to suspend alumina production at its Gove refinery in the Northern Territory.
Best in the portfolio was RIO, while the worst stock was WPL down -2%.
In company news, Lynas (LYC) avoided a first strike, but only just, at Friday’s AGM, with 24.6% of shareholder votes disagreeing with its remuneration report. closing flat at $0.30.
Crown Resorts(CWN) announced that director Chris Corrigan has resigned from the board of Packer’s casino as shares closed down -0.5%.
Overall, in the ASX200, biggest gain came from Resolute Mining (RSG) up 11.1%, while the biggest loser was Graincorp (GNC) down 22.1% on the back of Joe Hockey nixing ADMs takeover action.
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ASX200 opened early and then slide slightly across the day, ending up 0.3% at 5353, while the Small Ords fell -0.1%.
Overall, market volume was strong with $3.7b of turnover with 1.6b of volume as the top three stocks by volume were NAB, WBC and CBA.
Market Movers and Drivers
The market took the lead from the strong US markets at the end of the week, while gold was off.
In data, no significant data was released.
In sectors, Healthcare and Industrials led up 1.2% and 0.7% respectively, while IT and Property were both up 0.5%. Telecoms and Cons Disc rose 0.4% while Financials and Materials were both up 0.3%. Rounding out the positives were Cons Staples and Metals & Mining both up 0.1%.
On the negative, only Utilities was off -0.2%.
Significant Market Moves
The major banks closed mixed, with ANZ up 0.4% to $31.79, CBA ended -0.3% down at $76.27,WBC rose 0.1% to finish at $32.52 and NAB closed 0.5% higher at $34.10.
Miners BHP and RIO both rose, closing 0.2% and 0.2% higher at $37.89 and $65.40 respectively, on higher iron ore prices as BHP announced $US301m worth of new spending on new ship loaders in Port Hedland. Giving them the ability to move an extra 2,500T of ore/hour.
Best in the portfolio was SHL up 3.6%, while the worst stock was QBE down -1.1%.
In company news, Goodman Fielder (GFF) hit their biggest low since January, down 7.1% after downgrades by Macquarie and CIMB, after they reported a difficult full year result, flagging the NZ dairy margins were unlikely to recover.
Warrnambool Cheese & Butter (WCB) gained another 2% after it received an increased takeover offer of $9.20 per share from Canadian dairy giant Saputo, and again the WCB Board recommended it to shareholders.
Billabong International (BBG) shares fell -4.4%, as the Chairman and some directors up for re-election came under pressure from activist shareholder ISS on ‘sustained value destruction”.
Overall, in the ASX200, biggest gain came from Challenger (CGF) up 5.2%, while the biggest loser was Silverlake (SLR) was down -8.9%.
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Overall, in the ASX100, biggest gain came from Regis Resources (RRL) up 2.3% while the biggest loser was Worley Parsons down -25.9% on their profit downgrade.
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Tags: asx 200, Market Movers, profit warning, Westpac-Melbourne Institute Leading Index
ASX200 fell across the Board and the day ending down -0.3% at 5385, while the Small Ords fell -0.9%.
Overall, market volume was good with $2.9b of turnover with 1.4b of volume as the top three stocks by volume were WBC, NAB and BHP, while in ASX200 breadth 51 up, 133 down and 17 flat.
Market Movers and Drivers
The market had weak day on profit taking, especially on the banks and poor AGM results amongst the mining sector.
There was no significant data released.
In sectors, only Materials had a positive day up barely 0.02%.
The rest of the sectors were led down by Cons Disc falling -0.9% and Property down -0.8%. Energy and Utilities were both down -0.6% while Telecoms fell -0.5% and Financials was off -0.4%. IT and Industrials were -0.2% lower and Cons Staples and Metals & Mining were down -0.1%.
Significant Market Moves
The major banks closed mixed, with ANZ losing 0.6% to $32.10, CBA ended 0.6% down at $77.34, WBC shed 0.4% to finish at $32.87 and NAB closed 0.2% higher at $34.36.
Miners BHP and RIO both closed higher, gaining 0.2% to close at $37.95 and $65.65 respectively.
Best in the portfolio was WES up 1.2%, while the worst stock was WDC down -1.2%.
In company news, ANZ was cleared of price fixing breach allegations by the Federal Court, regarding alleged price fixing between the bank and Mortgage Refunds Pty Ltd pursued by the ACCC.
Shares in Warrnambool Cheese and Butter (WCB) rallied 2.1% higher to $9.29 after Canadian Saputo lifted its buyout bid, matching the Murray Goulburn bid of $9 but all in cash.
Elders (ELD) fell -4.2% after it significantly widened its full year loss to $505.m, impacted by difficult market conditions and impairments primarily driven by divestments and restructure to pure-play agribusiness.
Downer EDI (DOW) shares gained 1.8% after it secured a four-and-a-half year, half a billion dollar contract for mining services at the Roy Hill iron ore mine in the Pilbara.
Amcor (AMC) will acquire privately owned Australian flexible packaging business Detmold for $50 million, subject to ACCC approval.
NAB boss Cameron Clyne’s salary was reduced by $1m in 2013 following investor backlash over remuneration last year.
Overall, in the ASX100, biggest gain came from Arrium (ARI) up 7.9% as its Chairman Peter Smedley retires; while the biggest loser was Newcrest (NCM) was down -3.8%.
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Advising the Ultra Wealthy 