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Marcus Today End Of Day Report
BY HENRY JENNINGS - MARCUS TODAY COMMENTATOR - 09/03/2018

Market Summary

  • ASX 200 climbs +20 points to 5963.
  • High 5978 Low 5942. Quiet trade ahead of Labour Day holiday and NFP tonight.
  • North Korea and trade talks cheer markets.
  • The world just got a little safer.
  • ASX 200 up 42 points for the week.
  • Index changes in focus.
  • Banks lead gains as resources remain weak on metal prices.
  • Energy stocks fall on oil price woes.
  • Gold producers under pressure.
  • AUD slips slightly 77.92c.
  • Bitcoin hit again to US$8732.
  • US futures fire up then fade on Kim news, +4.
  • Asian markets rally on North Korea/Steel, Japan up 0.29% and China up 0.31%.

FUTURES AND HIGHS AND LOWS

MT Stuff

  • HENRY CALL – Making America Great Again…but not so great for everyone else. Some technical insight. A heads-up on some index changes and a bit on taxation.
  • SMALL STOCK PORTFOLIO – We list our recent transactions and update you on our recent strategy.
  • TRADING PORTFOLIO – No new trades. No stop losses raised.
  • INSIDERS – We have a question from ‘The Keeper’ and ‘Jason G’ likes mineral exploration company, Ausquest.
  • 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:

Advancers and Decliners

  • PTM +1.83% FUM announcement late Thursday.
  • UPD +10.78% company roadshow and broker comment.
  • NCZ +5.20% index changes
  • MSB -5.08%profit taking continues.
  • WGX -4.39% broker downgrade after NST deal.
  • TLS +1.47% finding support.
  • SYD +1.35% despite airport chaos.
  • BHP -1.73% metal and oil prices.
  • MYR -4.40% dropping out of ASX 200.
  • MNS +10.71% deal with the Tanzanian government
  • LLC -0.06% broker downgrade.
  • TGH -0.57% broker downgrade.
  • NOX +6.91% FNN interview with CEO.
  • Speculative stock of the day: No standouts.
  • Biggest risers – AAC, GMA, UPD, NCZ, KGN and BWX.
  • Biggest fallers – OMH, MSB, ILU, WSA and WGX.

TODAY

  • Quiet day on the corporate front. Index changes due to kick in March 19th dominate.
  • Oz Minerals (OZL) -3.52% will get a new power line courtesy of South Australian power company, Electranet, with a $150m investment in the project. The new 270km high voltage power line is the centrepiece of a new energy strategy unveiled by OZL. This comes after BHP refused to share its power at Olympic Dam. New charges are expected to increase unit costs at Prominent Hill by up to 4% after mid-2020.
  • Royal Dutch Shell is planning to ramp up its exposure in the US shale oil business with a US $10bn joint takeover of BHP’s American shale division. Shell is supposedly working with Blackstone, a US private equity company on the bid.

ECONOMIC NEWS

  • Nothing shaking but the trees.

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

  • The Bank of Japan stayed the course with its monetary stimulus at Governor Haruhiko Kuroda’s final policy meeting before his new term begins next month. Inflation still way off the pace though.

  • Japan has had eight quarters of economic growth and an unemployment rate of 2.4%, the lowest since 1993. Core inflation, which excludes fresh food, was 0.9% in January. Target is 2% by 2019. Tell ‘em they're dreamin'.
  • People’s Bank of China, Governor Zhou Xiaochuan said market access reforms should be accelerated and the country could be more bold with opening up the economy.

Key Points on Chinese Inflation numbers:

  • The producer price index rose 3.7% in February from a year earlier.
  • That compares to a projected 3.8% rise in a Bloomberg survey, 4.3% in January.
  • The consumer price index climbed 2.9% versus a forecast of 2.5%.
  • That’s almost twice as fast as January’s 1.5% and the fastest pace since 2013.
  • On the month, consumer prices rose 1.2%.
  • Food prices jumped 4.4%, consumer goods prices up 2.5% and services jumped 3.6%.

EUROPE AND US MORNING HEADLINES

  • The European Central Bank's deposit rate could be hiked to 0% September 2019. At least that is what UBS believes. Yes, 0%. UBS is looking for a rise in rates to -0.2% in July 2019. Yes, you have to pay the bank for looking after your money. Daft or what.
  • KFC has switched the supply of 350 of its UK restaurants back to its original distributor, after a move to the German logistics group DHL last month prompted a chicken shortage.
  • US Non-farm payrolls tonight. 4.1% 190k jobs created but average hourly wages will be closely watched.
  • Amazon has fixed a bug that made its digital assistant 'Alexa' laugh at odd times completely unprompted. The lunatic in the asylum. Very disconcerting.
  • Saudi Arabia’s Aramco signed a preliminary deal to pursue international gas opportunities with Royal Dutch Shell ahead of the US$2 trillion listing next year.
  • Elon Musk has pointed out that China charges a 25% import duty on cars, ten times the 2.5 % levy the US puts on China-built vehicles. We just call our tariffs the luxury car tax in Australia.

MARKET MAP





 

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