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SHARECAFE COMMENTARY

Marcus Today End Of Day Report
BY HENRY JENNINGS - MARCUS TODAY COMMENTATOR - 14/03/2018
VIEW MORE ARTICLES BY HENRY JENNINGS

 Market Summary

  • ASX 200 falls another -39 points to 5935.
  • High 5975 Low 5923 Steady trade after initial falls.
  • Tillerson sacked by tweet.’Rexit’.
  • Bank in the sights of Royal Commission. CBA tomorrow. Straw men rule.
  • Franking credits policy weighing.
  • AUD steady at 78.73c.
  • Bitcoin steady too at US$9,150.
  • US futures modestly lower down -35. Rex who?
  • Asian markets slip on trade war potential Japan down -0.50% and China CSI down -0.57%.

FUTURES AND HIGHS AND LOWS

MT Stuff

  • MARCUS CALL – Upset about Labor’s proposed changes to eliminate cash refunds for imputation credits? You are not alone.
  • SMALL STOCK PORTFOLIO – Things are hotting up on the geopolitical front and the market is treading water against the backdrop. So we’re likely going to see some short-term funk. Not great for our portfolio. But Henry has lots of cash and exercising patience.
  • INSIDERS – We’ve been doing well with pay disruptors lately. But there’s another minnow in the space Henry has his eye on.
  • TRADING PORTFOLIO – We were stopped out of one stock. No new trades and no stop losses raised. Wind in our face.
  • 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

  • A2M -1.23% broker initiation as a buy.
  • SMP +15.38% gathering momentum following deal with Alipay.
  • ORE +5.59% GXY +9.06% and KDR +8.96% on optimism in lithium.
  • XRO +2.56% still as hero.
  • BKL +4.95% thin volume but no retails store plan helps.
  • SWM -4.27% reverses yesterday’s rally.
  • WHC +2.15% UBS discusses RIO acquisition.
  • AVZ -3.64% half yearly accounts.
  • CAT -4.31% runs into profit taking.
  • PHK -1.59% rally runs out of steam.
  • TAW +14.94% lithium production begins at Bald Hill.
  • OFX +7.10% broker upgrades.
  • LVH +13.07% bouncing back.
  • ACX +0.26% shareholder approve scheme from Oracle.
  • Speculative stock of the day: ABU +32.91% SBM participates in $6m placement to fund Tamami exploration.
  • Biggest risers – KDR, GXY, SYR, ORE, SBM and EHL.
  • Biggest fallers – ING, SKT, SWM, HT1, SIG and AVZ.

POINTS

TODAY

  • Inghams (ING) -6.84% private equity group TPG has sold down its stake with 55m shares sold at 360c.
  • Rheinmetall Landsysteme has won a A$5bn contract to build 211 combat reconnaissance vehicles for the Australian defence forces.
  • National Bank (NAB) -1.22% in the Royal Commission spotlight today. CBA tomorrow. Not making great headlines.

ANNOUNCEMENTS

ECONOMIC NEWS

  • The Melbourne Institute and Westpac Bank survey of 1,200 people published on Wednesday said its index of consumer sentiment rose 0.2% in March from February when it fell 2.3%.
  • The index was up 3.3% on February last year at 103.0, meaning optimists just outnumbered pessimists.
  • The survey's barometer of economic conditions over the next 12 months bounced 1.7% in March, but the outlook for the next five years dropped 4.1%.
  • New Zealand posted a wider-than-expected current account deficit in the fourth quarter. On a seasonally-adjusted basis, the quarterly deficit was NZ$1.951 billion, up from NZ$1.544 billion in the previous quarter.

BOND MARKETS

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

  • Industrial output climbed 7.2% in January and February from a year earlier, compared with the 6.2% projection in Bloomberg’s survey.
  • Retail sales rose 9.7% from a year earlier, the National Bureau of Statistics said Wednesday, nearly in line with the 9.8% estimate.
  • Fixed-asset investment excluding rural households increased 7.9%, versus a 7% projection.

  • MSCI launches 12 new Chinese indices ahead of inclusion of mainland Chinese stocks entering its benchmark emerging markets index for the first time.
  • Japanese core machine orders grew at the fastest pace in two years in January.
  • Cathay Pacific posts its biggest loss since 2008 as fuel bet goes wrong. Net loss of US$161m.
  • Noble Group has signed a debt restructuring agreement.

EUROPE AND US MORNING HEADLINES

  • Vale Stephen Hawking. A life well lived. “Look up at the stars and not down at your feet. Try to make sense of what you see, and wonder about what makes the universe exist. Be curious".

  • UK deadline on Russian sanctions has passed. Putin is quaking in his Russian boots.
  • Democrats hold a slim lead in the Pennsylvania election.
  • China has sold its stake in Blackstone as tension mounts in Sino-US relations. 

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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