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Marcus Today End Of Day Report
BY HENRY JENNINGS - MARCUS TODAY COMMENTATOR - 13/03/2018
VIEW MORE ARTICLES BY HENRY JENNINGS

 Market Summary

  • ASX 200 falls 21 points to 5975.
  • High 5996 Low 5949. Quiet trade.
  • Banks lead losses on imputation changes.
  • Royal Commission kicks off as Labor plans hit sentiment.
  • Banks and miners under pressure.
  • AUD -0.01% lower at 78.71c.
  • Bitcoin bounces to US$9150.
  • US futures rebound up +45.
  • Asian markets mixed with Nikkei up 0.28% and China CSI down 0.26%.

FUTURES AND HIGHS AND LOWS

MT Stuff

  • MARCUS CALL – Labor’s plans to end cash refunds for excess dividend imputation credits and what it all means. And other important stuff like royal commissions etc.
  • SMALL STOCK PORTFOLIO – MSB is letting us down, COE and VOC have slipped through our fingers (for now) and Credible is looking credible.
  • INSIDERS – We update you on our leaderboard. And Patrick F updates us on agri-stock, Select Harvests. Many thanks for the great insight.
  • TRADING PORTFOLIO – The tide is running against us today so no new trades. Two stop losses raised.
  • INSIDERS 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:

https://marcustoday.com.au/webpages/images/report/20171016/askmarcusbutton.jpg  https://marcustoday.com.au/webpages/images/report/20171016/tellusyourstockideas.jpg

Advancers and Decliners

  • WPP +5.38% broker upgrade.
  • XRO +3.12% short squeeze.
  • AAC -4.15% rally unwinding.
  • COE – UNCH - presentation to Euroz conference.
  • HSN -1.35% change of director’s interest.
  • OGX -8.00% option conversion pressure.
  • SGH -0.78% really.
  • TLS -0.87% slips again.
  • WPL -0.28% completion of retail book build.
  • Speculative stock of the day: Smartpay (SMP) +39.29% after the company signed an agreement with Alipay China giving it access to 25,0000 merchants and $11bn in tourist spending in Australia and NZ.
  • Biggest risers – WPP, SM1, IEL, AJM, XRO and SIG.
  • Biggest fallers – APO, OMH, AAC, SGF, REG and IPH.

POINTS

ANNOUNCEMENTS

ECONOMIC NEWS

  • Business conditions hit a record high in February on the back of high business profitability and a lift in employment conditions.
  • According to the NAB monthly business survey, the business conditions index lifted 3 basis points to +21 points, the highest level since the survey commenced in March 1997.
  • Business conditions also remain strong across the states, led by Queensland and Tasmania which both recorded a reading of above 20. The states with the highest readings for confidence were WA (+14) and South Australia (+12).

Housing finance data out today from the ABS for January showed an unchanged reading of $32.9bn compared to December on a trend basis.

  • Of that figure, $21.1bn came from the owner occupied sector, a rise of 0.1%, and $11.9bn from finance for investment housing, a decline of 0.3 per cent month-on-month.
  • The total number of housing finance commitments declined 0.7% to 54,980, according to the ABS.

BOND MARKET UPDATE

ALL ORDS SECTOR SUMMARY

ALL ORDS TOP MOVERS

ALL ORDS BOTTOM MOVERS

ASX 200 SECTOR SUMMARY

ASX 200 TOP MOVERS

ASX 200 BOTTOM MOVERS

ASIAN MARKETS NEWS

  • Japanese PM, Abe under fire over cronyism scandal involving wife and finance minister. Does not look good. Aso is taking all the flak but Abe could be next.
  • China is giving its central bank greater regulatory powers while merging the watchdog’s responsible for banking and insurance. The China Banking Regulatory Commission and the China Insurance Regulatory Commission, which together have oversight of $43 trillion in financial assets, will be merged in the biggest industry overhaul since 2003.
  • China’s largest battery maker has taken a large controlling stake in a lithium project in Quebec.

EUROPE AND US MORNING HEADLINES

  • Trump blocks Broadcom takeover of Qualcomm on security risks.
  • Expect more from UK and US on Russia’s attempt to poison its spy in Salisbury. Expect some tough talk from May. England to pull out of World Cup? Saves embarrassment.
  • Trump has dropped his call to raise age limits on gun ownership.
  • Republicans on the House Intelligence Committee said they found “no evidence of collusion, co-ordination, or conspiracy” between the Trump campaign and Russia.
  • UK has its first spring update rather than the full-blown budget which is the usual case. Chancellor Hammond will give an abridged version on Tuesday which will focus on Brexit and the cost of withdrawal. The British government has agreed to obligations of between £35bn and £39bn after Brexit.

 

MARKET MAP



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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