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Marcus Today End Of Day Report
BY HENRY JENNINGS - MARCUS TODAY COMMENTATOR - 19/12/2017
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Market summary

  • ASX 200 finished +33 points in a broad sector rally helped by a strong lead from the US and the prospect of the tax bill being voted through in the next 48 hours.
  • High 6080 Low 6039.
  • ANZ rallied on positive AGM sentiment.
  • Sirtex is being sued by Maurice Blackburn regarding disclosure issues.
  • Retail Food Group fell even further on a profit downgrade.
  • AUD up 0.10% to 76.68c.
  • Gold remained firm trading at US$1,263.23/oz.
  • Higher Iron ore and oil prices greased the wheels for mining stock rallies.
  • US futures +25 as we write.
  • Asian markets mixed – Nikkei down 0.09%, Shanghai up +0.68% and the Hang Seng up 0.90%.

FUTURES AND HIGHS AND LOWS

MT Stuff

  • MARCUS CALL – The AUD and what it means for the next results season. And a few stocks making an impact ahead of the Christmas break.
  • TRADING PORTFOLIO - We are trying to run this section into the buffers before the holiday but still have a few interesting trading ideas.
  • SMALL STOCK PORTFOLIO – We added BYE to the portfolio. Henry is overseas, but it didn’t stop him Skyping some directives. We bought in at 17.5c – our target entry price.
  • CONNECT WITH US - We invite you to send us your own stock ideas. We also have the facility for you to email us any questions. Click on the "Ask Marcus Today" button in the newsletter or below - Ask us anything:

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EDUCATE YOURSELF TODAY - We offer two courses:

  • ADVANCED EDUCATION COURSE - "Stock Picking for the Active Investor with Marcus Padley".
  • BEGINNERS EDUCATION COURSE – "An Introduction to financial concepts and the stock market".

All courses can now be seen and booked on this link. Click below:


Advancers v Decliners

  • RFG -25.28% on trading update.
  • CAR -3.10% on broker downgrade.
  • AZJ -2.9% on UT5 draft decision.
  • SAR +5.08% on technical indicators.
  • PLS +3.91% on volume buying.
  • WTC +4.36% completes CEO selling.
  • EVN +2.49% advances two days on the trot.
  • LVH +4.87% on positive sentiment surrounding institutional buying.
  • BDR +6.45% on reserve upgrade.
  • GSW +4.75% partnership with Toast.
  • MMS -0.84% on market update.
  • ANZ +0.69% on AGM commentary.
  • IMF +4.07% Case updates.
  • SRX -0.44% New legal proceedings.
  • SXY -5.48% Surat Basin gas project update.
  • CTX -1.82% 2017 FY results.
  • DMP -2.1% nears two month low.
  • JHC -5.66% Trading update.
  • Biggest risers – MXR, PKO, WRG, DKM, BPH, HAR, ADO.
  • Biggest fallers – MPE, BAS, RFG, CHP, VPR, RIR, EGY.

BEST AND WORST

TODAY

  • GetSwift (GSW) +4.57% Has signed a partnership with, Toast - a POS platform for restaurants and hospitality businesses primarily based in the US. Toast is Currently Toast is present in more than 42 states and covers a network of more than 20,000 merchant outlets.
  • Caltex (CTX) –1.82% FY17 full year results today. The company announced a 2017 Historic-Cost Profit of A$620m-A$640m and sees 2017 Replacement-Cost Profit of A$600m-A$620m. It also expects 2017 Net Debt of About A$900m
  • Retail Food Group (RFG) –25.28% Announced in a trading update that revenue and profit for 1H FY18 to be considerably lower. This is facilitated by one-off costs circa $7m after tax, which include costs for a business-wide review of operations. NPAT for the half is expected to be $22m instead of the previously flagged $33.5m. Stock is down a further 11%. The stock has fallen 13% in three days.

  • ANZ Bank (ANZ) +0.69% AGM today – market likes the rhetoric. Chairman key messages included: asset sales providing flexibility for further capital management. Says it will continue to manage capital 'prudently'. And the bank continues to face challenges from Regulation, and new taxes.
  • Sirtex Medical (SRX) -0.44% after the liver cancer treatment specialist acknowledged that legal proceedings against it had been filed in the Federal Court by lawyers Maurice Blackburn. And funded by IMF Bentham.
  • Japara Healthcare (JHC) -5.66% after the company downgraded its profit guidance. FY18 EBITDA is now expected to be 5% - 10% lower year-on-year as a result of lower occupancy levels.

ECONOMIC NEWS

  • The ANZ-Roy Morgan Australian Consumer Confidence Index ended the year at 116.5 with a 1.2% bounce last week. All sub-indices posted gains. ANZ said the bounce was likely fanned by better than expected employment data for November, with more than 60,000 jobs added. Another strong performance by the Australian cricket team and some Christmas cheer likely helped things too, he added.
  • RBA minutes today revealed that wages growth has stopped cooling and is expected to strengthen in 2018 as the labour market tightens. And unemployment has fallen to a four-year low. Policymakers reveal that is their focus to balance the AUD to spur employment growth – via no rate hikes.

BOND MARKET

ASIAN NEWS

  • The World Bank on Tuesday raised its forecast for China's economic growth in 2017 to 6.8 percent from 6.7 percent it projected in October, as personal consumption and foreign trade supported growth.
  • Chinese conglomerate, Fosun has sold off its first investment in Sydney's property market as Beijing's crackdown on overseas deal-making has forced several Chinese companies to dial back on some ambitions abroad.

EUROPE AND US MORNING HEADLINES

  • Virgin Hyperloop One has raised $50 million in new financing and named British billionaire and founder of the Virgin Group, Richard Branson, non-executive chairman.
  • The British university city of Cambridge extended Uber's operating licence for five years in a boost to the taxi app which is battling to keep its cars on the road in London, its most important European market.
  • Pound Sterling climbed, breaking a two-week losing streak as traders capitalised on the dollar's broad weakness to adjust their positions.
  • The European Banking Authority announced it is moving to Paris, winning over Dublin’s bid, in a lucky dip post a tied result Monday evening. Frankfurt, seen by many as favourite, did not even make it to the final two in the battle to replace London as home to the organisation that sets banking rules across the bloc and employs 185 people.

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View More Articles By Henry Jennings

Henry Jennings has been involved in financial markets for over 35 years as both a trader and a broker in London and Sydney.

Starting his career in London trading derivatives and moving to Australia in 1989, Henry eventually settled at Macquarie Group, rising to become a Divisional Director responsible for Equity Trading in Australia. For the last decade, Henry has been involved in private client broking and now writes exclusively for the renowned financial newsletter Marcus Today. Henry regularly appears on ABC TV and Sky Business as a market analyst, commentator and strategist and has presented at various conferences most recently for the AIA on the Gold Coast.

To gain further insights from Henry Jennings, Marcus Padley and the Marcus Today team of analysts, click here to register for a free trial of the Marcus Today daily newsletter.



Important note: Any financial product advice contained in this email is general financial product advice only and does not take into account any one person's objectives, financial situation or needs. Therefore, before acting on any financial product advice in this email, you should consider, with or without the assistance of an independent adviser, the appropriateness of the advice, having regard to your objectives, financial situation and needs.
 

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