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Marcus Today End Of Day Report
BY HENRY JENNINGS - MARCUS TODAY COMMENTATOR - 12/04/2018
VIEW MORE ARTICLES BY HENRY JENNINGS

 Market Summary

  • ASX 200 down 13 points to 5816.
  • High 5838 Low 5801.
  • Banks slide with industrials.
  • BHP and miners save blushes.
  • China talks tough on trade.
  • US set to hit Syria.
  • AUD down 0.05% to 77.50c.
  • Bitcoin hits US$6,940.
  • US futures up 24 as rally fades.
  • Asian markets weaker with Japan down -0.39%, China down 0.75%.

FUTURES AND HIGHS AND LOWS

MT Stuff

  • HENRY CALL – Marcus is out and Henry takes the reins. He talks global tensions and the price of oil.
  • SMALL STOCK PORTFOLIO – We added another stock yesterday. And Henry talks banks. The times are changing and small caps are a threat.
  • INSIDERS – Tech Conference thoughts.
  • TRADING PORTFOLIO – No new trades, or stop losses raised.
  • INVESTMENT FOR BEGINNERS – Marcus has been running the Marcus Today Education course for beginners. It is aimed at teaching basic concepts of finance but includes a section about “Your Super”, including: What is it; Where is it; How to manage it.
  • INSIDERS CONNECT WITH US - We invite you to send us your own stock ideas.

Advancers and Decliners

  • STO – unchanged - Harbour Energy hires ex BHP exec as CFO.
  • BLA +1.13% media interview goes badly.
  • CCL -0.56% starts Amatil X with $10m to fund start-ups.
  • HSO +3.43% private equity bid speculation.
  • ALL +1.51% Goldman upgrades.
  • SHV +5.65% upbeat crop forecasts.
  • BSL +2.26% 1 month high.
  • MSB +5.47% rally continues.
  • APT -4.46% Goldman downgrades.
  • PPH -4.34% broker downgrades.
  • AGY +8.62% finding friends.
  • IVX -10.00% profit taking.
  • WAM -3.61% Investment update and NTA ex div.
  • IFN +9.17% substantial shareholder notice.
  • KGN +7.38% embraces low cost NBN.
  • Speculative stock of the day: Alt Resources (ARS) +19.35% following the announcement yesterday of high grade results at the Emu Deposit. Grades of up to 53g/t Au intercepted.
  • Biggest risers – HT1, IFN, KGN, SHV, UPD and SM1.
  • Biggest fallers – CVW, PPH, WGX, APT, BWX and KDR.

TODAY

  • Bubs Australia (BUB) +9.21% Quarterly update. NuLac Foods acquisition boosts sales and maintains cash on balance sheet. Q3 net sales up 422% yoy to $5.178m and cash balance at $5.570m. Bubs is expanding its Woolworths and Chemist Warehouse ranges from the next quarter.
  • Brambles (BXB) –1.74% Divested its 50% stake in the Hoover Ferguson JV, receiving US$150m that will be used to reduce debt. The divestment will cause a non-cash writedown of US$4.9m to be included in FY18 results.
  • Mount Gibson (MGX) +5.13 Quarterly update. Quarterly sales rose 16% pcp whilst 1-3Q revenue was $148m. Result underpinned by solid mid-west operations offsetting the Koolan restart project, which progressed to 57% completion. All-in group costs lowered by $1/wmt to $45/wmt. At this level, MGX sees no change to full year sales guidance.
  • oOh!media (OML) –1.46% Confirmed it made an offer to HT&T for its Adshel business but was declined as it was too low. UBS see less regulatory road blocks down this path compared to APN Outdoor, as it operates in a different area of outdoor ads.
  • BT Investment Management (BTT) –1.57% Funds under management increased by $0.9bn to $99.0bn for the quarter, backed by favourable exchange rates and a weaker AUD.
  • Oil Search (OSH) +1.34% Independent reassessment and mapping of the P’nyang PNG site has found a significant increase in natural gas resources. The report estimated approximately 11 trillion cubic feet of undeveloped resources which supports OSH’s development of new LNG capacity. Macquarie says some of the upside from this is already factored in and the focus will be on the Koolan project restart.
  • Freedom Food Group (FNP) –1.36% Released 3.94m new shares today as part of its retail offer and overall $200m equity raising. The shares were issued at 480c each.

ALL ORDINARIES SECTOR SUMMARY

ALL ORDINARIES TOP MOVERS

ALL ORDINARIES BOTTOM MOVERS

ASX 200 SECTOR SUMMARY

ASX 200 TOP MOVERS

ASX 200 BOTTOM MOVERS

BOND MARKET UPDATE

ASIAN MARKETS NEWS

  • The Bank of Korea left its key interest rate unchanged at 1.5%. In a statement it said inflation this year would be lower than its previous projection of 1.7%, without providing an exact figure.
  • China will “unquestionably” retaliate if the US further escalates trade tension according to a senior trade official.
  • PBoC governor Yi Gang said economic indicators have performed better than expected in the first quarter, amid continued improvement in the global economic outlook.
  • IMF’s Christine Lagarde told Chinese policy makers to beware of financing unneeded and unsustainable projects in countries with heavy debt burdens.
  • New Zealand has become one of the world’s first countries to ban all future offshore oil and gas exploration.

EUROPE AND US MORNING HEADLINES

  • Final talks have begun at the European Commission in Brussels on proposals to cap the amount of the toxin cadmium in fertilisers. Good for Russian fertiliser exports that have low cadmium. Bad for North African and Chinese suppliers.
  • Less than a year to go before UK leaves EU. Things are not the disaster some predicted. Yet. Amazing what a devalued currency can achieve.

 

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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