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Glenn Dyer
Buffett Bails Out Canada's Home Capital
Added On - 6/23/2017 4:53:18 PM
Has Warren Buffett saved the jumpy Canadian housing market from a shattering collapse of a highly indebted subprime mortgage lender?
South Oz In Back To The Future Bank Levy
Added On - 6/23/2017 9:21:00 AM
South Australia has taken a leaf out of Scott Morrison's book and imposed a tax on the big five banks - a move that looks like being a retreat to the stupid days of a myriad of state taxes and duties on banks that lasted through the 1980s and 90s.
Murray Goulburn Backflips On Milk Price
Added On - 6/23/2017 9:16:59 AM
Murray Goulburn securities jumped 5% yesterday after some good news from the embattled dairy processor. The shares ended at 63.5 cents, a bit of respite from the selling pressure of the past few weeks.
Damaged QBE Recovers Ground
Added On - 6/23/2017 9:16:46 AM
Despite some tough commentary from exasperated investment analysts about yet another shock downgrade, QBE shares rebounded slightly in yesterday's generally positive market.
Hills To Post Third Straight Annual Loss
Added On - 6/23/2017 9:16:29 AM
On Wednesday it was QBE and Retail Food Group that sprung profit downgrades or warnings, yesterday it was Adelaide based Hills that told the market that its recovery plan has stalled and a third yearly loss is in sight.
Hurdles Ahead For Fairfax Takeover
Added On - 6/23/2017 9:16:07 AM
Is private equity interest in Fairfax from US groups TPG and Hellman and Friedman, about to wane, with worries about financial forecasts surfacing and at least one big shareholder opposed to any takeover?
RBNZ Holds Rates at Record Low
Added On - 6/22/2017 8:16:52 AM
The Reserve Bank of New Zealand has left its key interest rate, the Official Cash Rate (OCR) steady at 1.75% in a carbon copy of the Reserve Bank of Australia's move and reasoning earlier this month.
Oil Back In Bear Market Territory
Added On - 6/22/2017 8:12:58 AM
Oil prices continued to fell deeper into its latest bear market overnight Wednesday with prices in the US and Europe hitting new multi-month lows.
Retail Food Eats Humble Pie
Added On - 6/22/2017 8:12:46 AM
The Retail Food Group slid 10% to $4.56 yesterday after it sprung a surprise downgrade on the market and got punished as a result.
Deja Vu As QBE Warns On Offshore Claims Blowout
Added On - 6/22/2017 8:12:20 AM
What would investors and the stockmarket do without a profit warning from QBE?
China Gains Entry Into MSCI Global Index
Added On - 6/21/2017 8:22:08 AM
Australian shares will now face more competition for overseas interest following the decision by the MSCI index group to include some big Chinese stocks in its key emerging markets index.
Rio Shuns Glencore Coal Bid
Added On - 6/21/2017 8:20:58 AM
Fear of China seems to have caused Rio Tinto to ignore the $US2.55 billion offer for its Hunter Valley coal mining assets from rival miner, Glencore.
ATC Ticks Tabcorp-Tatts Merger
Added On - 6/21/2017 8:18:23 AM
Tatts Group shares jumped 3.6% and Tabcorp shared edged up 0.4% per cent after the Australian Competition Tribunal (ACT) gave the their $11 billion merger the green light.
Delisting Enters The Mix At Oroton
Added On - 6/21/2017 8:14:18 AM
Struggling luxury retailer OrotonGroup will get up to $3 million in credit support from its largest shareholder as the company looks at proposals to sell off assets and break up the group.
RBA Chief Sides With Rating Agencies
Added On - 6/21/2017 8:14:10 AM
Normally the Reserve Bank is quite dismissive of the credit ratings agencies such as Standard & Poor's and Moody's, viewing them as remote (New York based), out of touch and with conflicts of interest they struggle to resolve about who their clients are - those being downgraded, or investors in the products being rated.
Bank Levy Legislation Clears Parliament
Added On - 6/21/2017 8:13:49 AM
The Federal Government's bank levy legislation passed through parliament on Monday night and the $6.2 billion charge will become law shortly, and for all the protestations from the five banks involved - Commonwealth, NAB, ANZ, Westpac and Macquarie - there's no sympathy whatsoever for them among regulators, if the Reserve Bank's view is any guide.
Moody's Downgrades Big Four Banks
Added On - 6/20/2017 8:17:38 AM
Credit rating agency Moody's has joined rival Standard & Poor's in downgrading Australia's banks.
Amazon Hyperbole Spooks Retailers
Added On - 6/20/2017 8:14:40 AM
The knee jerk reaction from the Amazon bid for Whole Foods in the US hit the Australian market as suspected, with brokers analysts and others sprouting all sort of nonsense and rubbish about what it means down under.
House Prices In China Cool
Added On - 6/20/2017 8:14:09 AM
Mixed data from Asia's two biggest economies and Australia's two biggest export markets.
Downer Declares Spotless Bid Unconditional
Added On - 6/20/2017 8:14:00 AM
Spotless Group shareholders continued to ignore the $1.15 offer from Downer EDI, leading to suggestions the we could be in for an impasse that lasts into 2018.
ASX Rebounds 1.7%
Added On - 6/19/2017 8:06:53 AM
It's not often a corporate deal hits markets around the world but that's what Amazon's $US13.7 billion deal to buy organic supermarket chain, Whole Foods which not only rocked listed US retail stocks - including giants like Wal-Mart and Target - but was also felt in Europe.
MSCI Set To Make Decision On China Inclusion
Added On - 6/19/2017 8:06:44 AM
A big test for the Australian stockmarket and the Australian dollar early Wednesday, Sydney time (and for other markets and currencies) when MSCI faces yet another decision on whether to include some of China's major companies in one of its key global indexes.
Oil Registers Fourth Weekly Loss
Added On - 6/19/2017 8:02:03 AM
Oil prices bounced Friday a day after hitting their lowest settlement price of 2017, but but still notched up their fourth weekly loss in a row - the longest losing streak in nearly two years.
Diary: RBA Minutes, Local House Prices
Added On - 6/19/2017 8:01:33 AM
In Australia, the minutes from the RBA's last board meeting tomorrow are expected to show the central bank comfortably on hold regarding rates with most interest likely to centre around how it sees the housing market given recent signs of a cooling in Sydney and Melbourne.
Amazon To Acquire Whole Foods In Mega Bet On Groceries
Added On - 6/19/2017 8:01:17 AM
On Friday, global retailing's pain just got worse when Amazon swooped on one of America's biggest grocery chains in a near $US14 billion dollar deal that saw a sell-off in the sector around the world.
Amazon Deal To Further Rattle Oz Retail
Added On - 6/19/2017 8:00:46 AM
Now the impact from comes to Australia where investors have been made more nervous this year by a series of alarmist reports from investment banks about the threat from which Amazon which shocked Wall Street on Friday with plans to buy the giant organic food supermarket chain, Whole Foods Market for $US13.7 billion ($A18 billion), or $US42 a share in cash.
Ken MacKenzie To Chair BHP
Added On - 6/16/2017 11:09:24 AM
BHP has chosen former Amcor CEO, Ken MacKenzie to succeed Jac Nasser as Chairman from later this year.
Korean Bidders Emerge As Arrium Saviour
Added On - 6/16/2017 8:20:49 AM
The future of Arrium, Australia's second largest steel producer has become a lot clearer with a Korean consortium beating a UK offer to enter into the final negotiations buy the company.
Conflicts Emerge Over Ten Collapse
Added On - 6/16/2017 8:20:43 AM
Ten Network creditors will meet for the first time with administrators in Sydney next Monday as questions are being asked about the way the company went into administration on Wednesday and the roles of two major shareholders, Lachlan Murdoch and Bruce Gordon.
Watpac Slumps On Earnings Downgrade
Added On - 6/16/2017 8:17:38 AM
Brisbane-based construction group, Watpac has warned investors to expect a big loss for the year to June. The news, released before trading sent the shares plunging more than 16% to 52.5 cents, the lowest they have been since 2013. The shares recovered somewhat in later trading to end the day down 6.5% at 57.5 cents.
Kiwi GDP Growth Outpaces Oz
Added On - 6/16/2017 8:17:29 AM
The New Zealand economy grew at a slightly slower pace than forecast in the first three months of this year, but still easily outperformed Australia's GDP growth rate for the same period.
Jobs Data Beats Expectations
Added On - 6/16/2017 8:16:44 AM
More evidence yesterday that the economy is in better shape than some figures suggest, and certainly healthier than the moaners in retailing, some unions, analysts and economists believe.
Fed Raises Rates For A Second Time In 2017
Added On - 6/15/2017 7:40:12 AM
As expected the US Federal Reserve has ignored more weak inflation figures and lifted its key interest rate for a second time this year (and 4th in the current cycle) and revealed plans for reducing the size of its balance sheet later this year.
Ten Network Falls Into Administration
Added On - 6/15/2017 7:40:04 AM
For the second time in nearly three decades, the Ten Network, Australia's third commercial operation has collapsed under the weight of unsustainable debts, weak revenues, poor governance and shareholder abandonment, not to mention the dramatic slide in revenue among legacy media sectors.
Costs Out As Telstra Axes 1,500 Jobs
Added On - 6/15/2017 7:39:57 AM
Telstra is set to cut up nearly 1,500 jobs across the country as part of a deep cost cutting drive to try and rightsize parts of the business.
China May Data Drop Holds Steady
Added On - 6/15/2017 7:39:44 AM
On the face of it, China' s core economic figures - industrial production, investment and retail sales showed no significant change in May - which is good news for supplier countries such as Australia.
BAML Survey: Shares Are Overvalued
Added On - 6/14/2017 8:00:04 AM
A record number of big global and regional fund managers think global shares are over-valued, according to the Bank of America Merrill Lynch (BAML) monthly investment manager survey, with internet stocks experiencing the most stretched valuations.
Bellamy's Shakes The Tin With $60m Cap Raising
Added On - 6/14/2017 7:54:40 AM
Embattled dairy company Bellamy's has unveiled a $60.4 million capital raising that will help it take control of a new canning facility and recast its supply arrangement with Fonterra.
Ten In Turmoil As Backers Pull The Pin
Added On - 6/14/2017 7:54:33 AM
The Ten Network is facing a grim future. Board discussions yesterday and today could see the company placed in administration by the end of this week if the directors can't find a new source and/or support for a $250 million loan (with no strings attached - a big ask).
Upbeat NAB Survey Disconnects With Data
Added On - 6/14/2017 7:54:22 AM
Once again there's a gaping difference between the picture of the economy and business conditions painted in the monthly survey from the NAB, and anecdotal reporting by media and business groups - and by the picture of a weak economy painted in the March quarter National Accounts.
CSL Soars On China Expansion Plans
Added On - 6/14/2017 7:54:03 AM
Shares in CSL hit a new a record high of $137.65 yesterday after it made a big play to expand in the huge Chinese healthcare market via a $A460 million part acquisition.
Tech Selloff Drags Down Wall St
Added On - 6/13/2017 7:52:24 AM
The sell off in Wall Street tech stocks continued Monday, although the fall wasn't as dramatic as Friday's 1.8% side in the Nasdaq.
Oil Oversupply Continues To Outweigh OPEC
Added On - 6/13/2017 7:50:56 AM
There's little in the way of encouraging news for global oil prices as traders recognise that OPEC should have boosted the size of its production cut at last month's meeting and extended it for a year or more.
Diary: Central Banks In Focus
Added On - 6/13/2017 7:46:31 AM
Central bank week with what's left of it for Australian markets from today with the US Federal Reserve, the Bank of Japan and the Bank of England leading a group of bankers to reveal monetary policy intentions - with the Fed widely expected to announce its 4th rate rise of the current cycle early Thursday morning, Sydney time.
Glencore In Eleventh-Hour Bid For Rio's Coal Assets
Added On - 6/13/2017 7:46:10 AM
Glencore has tried a last minute attempt to buy the Hunter Valley coal mines Rio Tinto had agreed to sell to Yancoal of China - offering the miserly sum of $US100 million more than the $US2.45 billion offered by the Chinese group.
Macquarie Agrees To Buy Cargill Power & Gas
Added On - 6/13/2017 7:45:43 AM
Macquarie Group has moved deeper into commodities with its second deal with US group, Cargill in as many months - this time to by the American commodities giant's North American power and gas trading business. The deal comes just under three months after Macquarie bought Cargill's oil trading business for an undisclosed amount.
Markets Brace For Political Fallout
Added On - 6/9/2017 8:37:17 AM
Financial markets are facing a period of instability after a dramatic night on both sides of the Atlantic overnight with former FBI head, James Comey testifying about his sacking and accusing President trump of telling lies, while in the UK Prime Minister Theresa May's snap election seems to have backfired badly.
Cyclone Debbie Damages Trade Surplus
Added On - 6/9/2017 8:36:04 AM
As expected the trade surplus has plunged as a result of the impact of Cyclone Debbie on coal exports from Queensland in April, underlining the warning that second quarter GDP growth will take a whack from weak exports volumes.
Eager Bega Squeezes Murray Goulburn
Added On - 6/9/2017 8:35:19 AM
Bega Cheese has put the weights on its bigger rival and the country's biggest dairy dairy processor, Murray Goulburn, by setting an opening milk price nearly 20% above Murray Goulburn's opening level.
Japan GDP Growth Revised Down
Added On - 6/9/2017 8:34:22 AM
The gloss went off Japan's ostensibly solid economic rebound with the final estimate of first quarter GDP more than halved as statisticians slashed their previous figures for the strength of domestic demand and business inventories.
China Exports Rise In May
Added On - 6/9/2017 8:33:30 AM
China's exports grew more than expected last month and imports jumped sharply, surprising economists who had been looking for a softer performance.
China Imports Surprise
Added On - 6/9/2017 8:31:11 AM
China's imports of crude oil, copper, iron ore and soybeans all rose in May from a month earlier on a volume basis, suggesting domestic and export demand are a bit stronger than many foreign analysts believe.
Markets Shrug Off Spanish Bank Rescue
Added On - 6/8/2017 8:33:41 AM
Global bank shares and markets survived the news last night that Banco Popular, a big Spanish bank has had to be rescued by a rival to stop a collapse that could have triggered a financial crisis in the country and throughout the eurozone.
Headwinds Forming At Wesfarmers
Added On - 6/8/2017 8:32:38 AM
Wesfarmers shares fell to their lowest level since February yesterday as investors gave the company's annual investor day strategy update something of a thumbs down.
GDP Number Backs 'Glass Half Full' RBA
Added On - 6/8/2017 8:30:59 AM
The Australian economy withstood negative contributions from exports and home building to grow by 0.3% in the three months to March, which is a bit better than many forecasts had predicted.
Murray Goulburn Hits New Lows
Added On - 6/8/2017 8:30:06 AM
A day after Murray Goulburn surprised the market with a dire warning that it will need more deep cost cuts to get the benefits of a big restructuring program, investors are starting to wonder if the group will survive in its current form.
KKR Kicks Off Bidding War For Vocus
Added On - 6/8/2017 8:28:30 AM
Shares in struggling telco, Vocus Group soared 20% yesterday after US private equity group KKR has made a multi-billion dollars buyout proposal that is likely to trigger a bidding war.
Investor Jitters See Gold Bulls Stir
Added On - 6/7/2017 8:11:53 AM
Local gold stocks will take another run today as the global gold futures hit their highest levels since the US election on November 8.
Murray Goulburn Sours On Milk Price Warning
Added On - 6/7/2017 8:08:10 AM
Securities in, Murray Goulburn fell to an all time low yesterday after the struggling dairy group warned that without another successful round of cost cuts, it may not be able to meet the farmgate milk price indicated to dairy farmers for the year ahead.
Retail Food Rebuffs Downgrade
Added On - 6/7/2017 8:07:59 AM
Retail Food Group (RFG), which owns a diverse range of food groups include bakery chain Brumby's, Gloria Jean's coffee, Donut King and Crust Pizza has taken issue with an analyst's report that saw an 11% slide in the value of the company on Monday.
Steady RBA Holds Upbeat Mantra
Added On - 6/7/2017 8:07:50 AM
The Reserve Bank keeps the growth faith and has looked through short term sluggishness to the uplands of 2019-20 and stronger growth.
Local Data Drop Mixed Ahead Of GDP
Added On - 6/7/2017 8:07:04 AM
Good news and bad from yesterday's final batch of data that feeds into the March quarter National Accounts and GDP report to be released later this morning.
Downer Struggles Ahead With Spotless Bid
Added On - 6/6/2017 8:21:28 AM
The $1.3 billion bid for Spotless from Downer EDI is starting to get a little messy as Downer struggles for traction with acceptances.
Why The US Fed Is Losing Reasons For Rate Rises
Added On - 6/6/2017 8:21:21 AM
The US Federal Reserve's campaign to lift interest rates will continue the week after next when the central bank is expected to lift its key indicator by 0.25%. Some economists reckon there could be another increase later in the year. But at the moment the economic conventional wisdom backing the rate hikes is being turned on its head.
Diary: Oz GDP, RBA Meets, UK Polls, China Trade
Added On - 6/5/2017 7:35:34 AM
A testing week ahead for markets - there are quite a few events (such as Australian interest rates and GDP, Chinese trade figures, US data such as oil production data, a meeting of the European Central Bank and the UK elections on Thursday night, our time) to test the sentiment of investors large and small.
Shares Search For New Leads
Added On - 6/5/2017 7:35:09 AM
A spot of blind groping for markets here and at home this week, with the Reserve Bank board meeting decision tomorrow and Wednesday's National Accounts expected to dominate.
Oil Slips As Oversupply Worries Outweigh OPEC
Added On - 6/5/2017 7:35:00 AM
In contrast to the optimism in gold, the oil market remains in a deep funk about oversupply and demand and Friday's weak US jobs report for May didn't improve matters one bit.
Weak US Jobs Figures Spurs Gold
Added On - 6/5/2017 7:34:54 AM
Gold futures bounced back on Friday to their highest close since April, with prices rising a fourth week in a row, off the back of the surprisingly weak May jobs report for the US.
Data Drop Paints Softer Economic Picture
Added On - 6/2/2017 8:53:16 AM
Yesterday's data drop left more confusion in its wake than clarification about the health and direction of the economy.
Exxon Bucks Trump Call On Climate Change
Added On - 6/2/2017 8:33:38 AM
Donald Trump withdrew America from the Paris climate change agreement early Friday, but not before shareholders in Exxon Mobil, the world's largest listed oil company, sent a powerful message to the companies of the need to get serious about climate change and its impact on their businesses.
Economists Turn Bearish On Growth Outlook
Added On - 6/2/2017 8:33:19 AM
Gloom continues about the health of the economy in the three months to March with economists at the National Australia Bank weighing in with a mostly negative update about GDP, to go with an update from the AMP's chief economist, Dr Shane Oliver.
ANZ Trims Capital Ratio After APRA Review
Added On - 6/2/2017 8:33:13 AM
ANZ says its core equity tier one capital ratio will take a hit of 26 basis points (0.26% or 26 cents in the dollar), after the banking regulator completed a review of its risk weighting system.
Air New Zealand, Rex Climb Higher
Added On - 6/2/2017 8:32:58 AM
Both Air NZ and the Australian regional carrier, Rex issued earnings upgrades yesterday.
Iron Ore Battered In May
Added On - 6/1/2017 8:41:59 AM
May was a very mixed month for commodities. Iron ore took a hammering in May, gold edged higher, oil eased, as did copper, sugar and lead weakened, while cocoa prices rose.
Sell In May Rings True For ASX
Added On - 6/1/2017 8:37:06 AM
On the whole it was an upbeat end to the month for any markets - but not Australia where the ASX shed 3.4% and judging by the overnight futures market, will start the first day of June with a small loss of around 8 points.
Shaver Shop Bucks Retail Gloom
Added On - 6/1/2017 8:36:56 AM
The up down updates from smaller retailer, the Shaver Shop continued yesterday and unlike so many other retailers, it was good news.
Qube Launches Raising To Fund Freight Hub
Added On - 6/1/2017 8:36:45 AM
Freight, port and logistics firm Qube will make one of the largest non-mining investments in the country with a five year plan to spend upwards of $400 million developing a new freight hub in Sydney's southwestern suburbs.
Japan's Growth Streak Continues
Added On - 6/1/2017 8:36:24 AM
Unlike China where the economy seems to have slowed and to be struggling from weakening demand and debt, the Japanese economy is positively bloomy.
Building Approvals Steady In April
Added On - 5/31/2017 8:11:17 AM
There is a strong hint from the April building approvals data that the sharp fall seen in recent months, especially in non-house dwellings, could be steadying.
ACCC Takes NIB To Court
Added On - 5/31/2017 8:11:06 AM
Even though it says it will fight a move from the competition regulator to take it to court, investors still didn't like the news that the ACCC was suing NIB, the Newcastle based health insurer.
 

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