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Glenn Dyer
Diary: US Earnings, ECB Meets, Oz Inflation
Added On - 4/23/2018 7:54:20 AM
Earnings in the US, a meeting of the European Central Bank and first estimates of US and UK first quarter economic growth will dominate markets offshore, but in Australia the headline grabber will be the March quarter consumer and producer price and export price data releases both sides of the Anzac Day break on Wednesday.
Aluminium Surges After Rusal Sanctions
Added On - 4/23/2018 7:46:14 AM
Commodities ended lower on Friday, but higher for most over the week. Aluminium, oil, copper, lead, zinc and iron ore all rose on Friday and last week.
Trump Blasts OPEC Over 'Artificially' High Oil Prices
Added On - 4/23/2018 7:46:10 AM
Donald Trump mentioned OPEC for the first time ever in a tweet late last week and that got the oil market in a bit of a twitter, but his outburst was then dismissed as a rant.
Royal Commission Puts Financials Out Of Favour
Added On - 4/23/2018 7:46:06 AM
The ASX looks like starting lower today after a slide on Wall Street on Friday night triggered in part by a 4.1% slump in the price of Apple shares, which spread to other tech shares.
Facebook, Amazon, Google Top Earnings Watchlist
Added On - 4/23/2018 7:46:02 AM
Netflix might have surprised on the upside last week, but the health of the US high value tech sector and the direction of Wall Street shares could very well be settled in the next week or so as the rest of those giants report.
US Bond Sell-Off Steepens Yield Curve
Added On - 4/23/2018 7:45:57 AM
The tech fears will dominate Wall Street markets this week with earnings scheduled from some of the leaders of the sector in Amazon, Facebook and Alphabet.
Seven West & Fairfax Mull Media Merger
Added On - 4/20/2018 7:22:18 AM
Around five months ago, Kerry Stokes firmly put to bed persistent market talk that Seven West Media was talking to Fairfax or Nine or News Corp.
South32 Ups Manganese, Lowers Coal Output
Added On - 4/20/2018 7:22:08 AM
An upbeat March quarter and nine month production report from South32 yesterday, even if its coal business in NSW continues to have problems.
Evolution Mining Posts Solid Quarter
Added On - 4/20/2018 7:17:46 AM
Shares in Evolution Mining rose 0.9% to $3.36 yesterday after it reported a solid March quarter production effort and narrowed its full year guidance range.
BHP Cuts Iron Ore Guidance
Added On - 4/20/2018 7:17:37 AM
BHP shares leapt more than 2.8% yesterday despite the company trimming its iron ore production forecasts for 2017-18 by around 2 million tonnes due to unplanned maintenance and disruption from a cyclone early in the three months to March.
Oz Jobs Boom Fades
Added On - 4/20/2018 7:17:11 AM
The 2016 boom in the Australian jobs market is now fading as 2018 moves into the June quarter, according to figures issued on Thursday by the Australian Bureau of Statistics.
Resurgent Santos Closes In On Debt Target
Added On - 4/20/2018 7:16:42 AM
Santos shares jumped to a three-year high yesterday as hinted at a return to paying dividends after closing in on its 2019 debt target well ahead of time.
CYBG Slumps On Higher PPI Provisions
Added On - 4/19/2018 7:47:07 AM
Shares in CYBG dropped 6.7% to $5.19 yesterday after the ASX-listed parent of British banks Clydesdale, Yorkshire revealed another increase in provisions for costs associated with the miss selling of payment protection insurance (PPI) by around 350 million ($A645 million).
Wheatstone LNG Lifts Woodside Q1 Revenue
Added On - 4/19/2018 7:42:52 AM
The surge in global oil and gas prices in the first quarter saw Woodside Petroleum's first quarter revenue jump 30% from a year earlier, helped by higher production.
Rio Overtakes Vale Iron Ore Production
Added On - 4/19/2018 7:42:44 AM
Rio Tinto has become the world's biggest iron ore miner, overtaking Brazil's Vale in the three months to March to grab bragging rights, even if it's going to be a brief reign as top miner.
China Central Bank Announces Surprise Cut
Added On - 4/19/2018 7:42:34 AM
Are the tentative signs of a slowing in Chinese economic activity (seen in the monthly production and trade data for March in particular) more than just a one off blip?
Instos Back Fletcher Building Raising
Added On - 4/19/2018 7:41:55 AM
Fletcher Building will be untroubled to raise most of the $NZ750 million from big shareholders by the time the raising closes tonight and the shares are re-listed tomorrow.
AMP Slumps On Royal Commission Roasting
Added On - 4/18/2018 7:59:20 AM
AMP shares fell 4.4% yesterday on top of Monday's more modest 0.4% fall as investors finally awoke to the growing dangers for the company from the disclosures at the financial services and banking royal commission.
CBA To Spin Off Colonial First State
Added On - 4/18/2018 7:59:10 AM
The Commonwealth Bank is bailing out of its funds management arm via a stockmarket float of the company with its $219 billion in assets acquired 18 years ago by then CEO, David Murray in a move that set up the current structure of the troubled Australian banking sector
Fletcher Building In Big Capital Raising
Added On - 4/18/2018 7:53:16 AM
Struggling NZ-based Fletcher Building is asking shareholders to inject $NZ750 million into the company, which will in effect partially recapitalise a business that has been hurt hard by huge losses on some weak building contracts.
Village Roadshow Drops Profit Forecast
Added On - 4/18/2018 7:53:03 AM
Shares in Village Roadshow have fell yesterday after the company surprised with yet another earnings downgrade.
PNG Quakes Smash Oil Search Output
Added On - 4/18/2018 7:52:48 AM
The huge PNG earthquake in February saw Oil Search's production slip by more than a third in the March quarter and forced the group to slash 2018 production and sales forecasts by nearly 18%.
BoQ Lifts Cash Profit, Unveils Insurance Sale
Added On - 4/18/2018 7:52:20 AM
Bank of Queensland has left its interim dividend unchanged at 38 cents a share after announcing a slightly higher first half cash profit thanks to lower loan losses and lending growth in commercial loans.
Netflix Blasts Past Subscriber Growth Expectations
Added On - 4/17/2018 7:57:51 AM
Netflix shares jumped 8% in after hours trading this morning in the US after one of the key stocks on Wall Street reported higher than expected revenue and subscriber growth.
Hartleys Launches Galena Capital Raise
Added On - 4/17/2018 7:57:45 AM
Lead and silver miner Galena Mining went into a trading halt on Monday, seeking to raise more than $8 million to help finance more drilling on its emerging lead/silver and gold/copper project in the Gascoyne area of WA.
Royal Commission Blowtorch Turns To AMP
Added On - 4/17/2018 7:44:19 AM
Judging by the first day of the second round of hearings by the financial services Royal Commission, financial advice will prove to be an even greater black hole for the banks and AMP than the first round which examined rorts such as poor loan documentation, liar home loans and fraud.
a2 Milk In South Korean Expansion
Added On - 4/17/2018 7:42:41 AM
A2 is expanding into the South Korean market sending the shares up 0.9% to $11.70.
Infigen Energy Hoses Down Takeover Talk
Added On - 4/17/2018 7:42:34 AM
Shares in renewable power utility Infigen Energy ended square yesterday at 70 cents after the company tried to play down swirling takeover talk from last week.
Earnings Week: Netflix Headlines US, Local Miners In Focus
Added On - 4/16/2018 7:32:52 AM
The US earnings season steps up this week with the figures from Netflix tomorrow morning, Sydney time, to be the major scene setting announcement in a week that will be dominated by the fallout from the US, UK and French air raids on Syria.
Iron Ore Rebounds As Geopolitical Tensions Spur Oil, Gold
Added On - 4/16/2018 7:31:15 AM
Watch gold, silver and oil prices take a further run higher in Asian trading today after the weekend raids on Syria by planes and missiles from the US, UK and France.
Shares Finish Higher After Volatile Week
Added On - 4/16/2018 7:25:41 AM
Markets in Asia today will feel the impact of the weekend raids on Syria by US, UK and French aircraft and missiles.
Trump Sanctions See Rio Call Force Majeure
Added On - 4/16/2018 7:24:52 AM
Global aluminium and alumina prices soared to six year highs on Friday as the impact of the sanctions on the big Russian controlled aluminium producer, Rusal continued to rattle global markets. That has seen Rio Tinto forced to join Glencore in being forced to declare force majeure on deals it has with Rusal.
Diary: Syria Fallout, China GDP, US Earnings, Oz Jobs
Added On - 4/16/2018 7:24:45 AM
The escalation of Western military involvement in Syria will dominate markets this week, but there are other events and releases that markets will also be watching.
China Trade Shrinks Ahead Of GDP Number
Added On - 4/16/2018 7:24:39 AM
China's March quarter GDP growth data is out tomorrow and is expected to again show a solid pace of activity.
Buffett Goes Hostile Against Board Of USG
Added On - 4/13/2018 7:42:07 AM
In a move that will be of considerable interest to local building products giant, Boral, a fight has broken out for control of a key partner, the US gypsum and plasterboard maker, USG as legendary investor Warren Buffett has gone 'hostile'.
Is Wesfarmers Buying Fletcher Building?
Added On - 4/13/2018 7:40:27 AM
Here's news that will worry some investors. Fairfax Media reports that Wesfarmers has bought a stake of about 3% to 4% in the loss-making trans-Tasman construction and industrial materials company Fletcher Building.
Michael Hill Loses More Sparkle
Added On - 4/13/2018 7:33:57 AM
NZ jeweller Michael Hill's self inflicted 'diet' has seen staff at nine stores in the US lose their jobs after the group was forced to close the locations after failing to find a buyer.
Glencore Declares Force Majeure On Russian Aluminum
Added On - 4/13/2018 7:33:24 AM
Glencore, the global miner and commodity trader has been forced to declare force majeure on aluminium supply contracts thanks to tougher US sanctions against Rusal, the key Russian global aluminium producer.
Atlas Iron Shareholders Revolt
Added On - 4/13/2018 7:33:06 AM
It hasn't taken all that much time for a ginger group of shareholders in Atlas Iron to emerge on social media whingeing about the 'cheapness' of the agreed deal with Mineral Resources (MinRes).
Life In Oz Housing As Loan Approvals Beat Expectations
Added On - 4/13/2018 7:32:59 AM
There seems to be a bit more life in the home building sector than previously though. In fact February's building approvals last week were a bit better than expected, especially for private houses and yesterday home loan approvals for the same month were also a bit stronger than forecast.
RBA Warns On Rate Hike Shock
Added On - 4/12/2018 8:01:51 AM
Reserve Bank of Australia governor Philip Lowe says the next interest rate move will likely be an increase that will come as a shock to many households given they haven't seen one in seven years.
Cost Blowout Halts Kin Mining
Added On - 4/12/2018 7:58:30 AM
Shares in Kin Mining lost 40% of their value yesterday after the company called a halt to its $35 million Leonora gold mine because of cost overruns.
China Cost Pressures Slow In March
Added On - 4/12/2018 7:58:19 AM
Cost pressures cooled sharply in China in March with the Lunar New Year festival out of the equation.
Qantas Sells Catering Arm To Emirates
Added On - 4/12/2018 7:53:17 AM
Meanwhile Qantas has sold its catering arms to its global alliance partner Emirates, in a move it says will help it to focus investment in its core airline operations.
Qantas Shakes Off Rising Oil Price
Added On - 4/12/2018 7:53:11 AM
Qantas shares continue to defy rising global oil prices with a rise yesterday of 0.16% to $6.10 to be up more than 20% so far in 2018.
US Earnings Preview: What To Watch
Added On - 4/12/2018 7:53:07 AM
The US second quarter earnings festival kicks off tonight, US time when reports issued by Delta Airlines and giant fund manager, Blackrock release what will be solid figures.
China Seeks To Soothe Trade Fears
Added On - 4/11/2018 7:31:30 AM
Recycling is popular in Chinese economic and trade policy and so is conning investors. How? Well, Chinese President Xi Jinping yesterday pledged to reduce tariffs on foreign cars sold in China, apparently meeting a key trade demand from US President Donald Trump.
Why The Oil Price Just Rallied Again
Added On - 4/11/2018 7:31:22 AM
President Xi's soothing, but essentially meaningless words on a 'trade offer' to the US saw stockmarkets pop (The Dow was up 428 points or 1.8%), while European stocks also rose nicely. Gold edged up to $US1,343 an ounce, but oil jumped more than 3% to the highest level since December 2014 for the key Brent global indicator.
Godfreys Surges On Takeover Bid
Added On - 4/11/2018 7:26:35 AM
Godfreys Group shares jumped nearly 43% to 30 cents yesterday after investors noted the mop up bid if the embattled company's biggest shareholder, John Johnson, the 99 year old co-founder of the vacuum cleaner retailer.
Business Conditions, Confidence Cool In March
Added On - 4/11/2018 7:26:32 AM
Signs the economy might be losing some steam after a slowing emerged in the March monthly National Australia Bank survey of business conditions and confidence released yesterday.
US Budget Deficit Headed To Over $1 Trillion By 2020
Added On - 4/11/2018 7:26:25 AM
The US is facing a return to years of trillion-dollar annual budget deficits from 2020 onwards as the tax cuts pushed by President Donald Trump and Republicans and higher public spending strain America's finances - at a time when the nine year economic recovery is starting to show signs of ageing.
Godfreys Founder Launches Reprivatisation Bid
Added On - 4/10/2018 7:24:04 AM
Ironic? The shares in Godfreys, the embattled vacuum cleaner retailer closed at an all time low of 21 cents on Monday at 4pm, and an hour and 17 minutes later the 99-year-old co-founder and still major shareholder revealed plans to make a takeover bid for the entire company and take it private.
Mineral Resources Confirms Atlas Takeover
Added On - 4/10/2018 7:23:54 AM
As expected Atlas Iron's board is set to be swallowed by the very much larger Mineral resources (MinRes) for an all paper $280 million bid which in the end is a pittance.
Elders Sells Out Of Indonesia
Added On - 4/10/2018 7:23:45 AM
Elders has decided to sell its beef feedlot and processing assets in Indonesia, and has confirmed more deals that will deepen its investment more in its Australian agricultural chemicals business and livestock agency operations. The news saw Elders shares jump more than 3.6%% to $7.99.
Resource Exports Surprise Government Forecasters
Added On - 4/10/2018 7:23:32 AM
Australia's resource and energy export earnings are forecast to reach a record $230 billion in the year to June, driven by higher iron ore and coal prices and still growing LNG export volumes.
Trade Pressures Push Gold Higher
Added On - 4/9/2018 7:54:14 AM
Gold futures lead most metals higher on Friday on the back of US-China trade-war tensions and the weak March jobs report.
Shares See-Saw On Trade Tensions
Added On - 4/9/2018 7:53:21 AM
So where now for global markets in the coming week after trade tensions rose in the wake of President Donald Trump's new attacks late last week on China and Amazon.
Diary: Tit For Tat Tariffs, US Inflation & Earnings
Added On - 4/9/2018 7:38:52 AM
No doubt the tit for tat tariff hike plans in the US and China will dominate the coming week, as will the outcome of last Friday night's weak US jobs report for March.
Banks Spearhead New US Earnings Season
Added On - 4/9/2018 7:38:45 AM
US banking giants, JPMorgan, Wells Fargo and Citi lead off the start of the March quarter earnings report this week with analysts projecting one of the best three months for years due to a combination of a solid economy and the spillover of the Trump tax cuts.
New Quake Threatens PNG Production
Added On - 4/9/2018 7:38:38 AM
More problems for Oil Search, Santos, Exxon Mobil, Total and a host of smaller local companies with mining and exploration operations in the southwestern highlands of Papua New Guinea with another big earthquake reported from the region at the weekend.
Oil Price Collateral Damage In Trade Battle
Added On - 4/9/2018 7:37:49 AM
A combination of rising China-US trade tensions (which saw a big Wall Street sell-off on Friday night) and news that the number of drilling rigs looking for oil in the US hit a three year high last week, knocked global oil prices on Friday.
Orocobre Slammed On Production Update
Added On - 4/6/2018 8:11:24 AM
Shares in lithium producer, Orocobre posted the biggest loss of the day yesterday after it cut its 2017-18 production guidance by 10%.
Mineral Resources Eyes Atlas Iron Tilt
Added On - 4/6/2018 8:05:46 AM
Fresh from being overbid for control of small WA oil and gas group, AWE, the acquisitive Mineral Resources seems to have quickly found another target for its affections - the on - off again iron ore miner and exporter, Atlas Iron.
Oz Trade Surplus Beats Expectations
Added On - 4/6/2018 8:05:42 AM
Australia's February trade surplus topped market expectations with the major export sectors showing small gains.
BHP Walks Away From World Coal Association Over Climate Views
Added On - 4/6/2018 8:05:38 AM
BHP Billiton, the world's largest listed mining company, has followed through with its threat to leave the World Coal Association because of a disagreement on climate policy.
Murray Goulburn Shareholders Approve Saputo Buyout
Added On - 4/6/2018 8:05:34 AM
It's all over. Murray Goulburn unitholders yesterday approved the $1.0 billion takeover of the co-operative by Canada's Saputo Inc.
SRG Buys Kiwi Contractor TBS From Bapcor
Added On - 4/6/2018 8:05:27 AM
Perth based construction and services company, SRG is betting the company somewhat in a $33 million deal that will take it across the continent and Tasman Sea and into New Zealand.
AWE Battle Nears Endgame
Added On - 4/5/2018 9:15:59 AM
As Santos faces a $13 billion plus bid, a much smaller takeover situation (but more complicated with three bidders) has been resolved in WA.
Flight Centre Fined For Price Fixing
Added On - 4/5/2018 9:14:49 AM
Attempts by Flight Centre, the country's largest travel agency to fix the value of tickets with three airlines so its "price beat guarantee" didn't reduce the company's profits has rebounded badly with the Full Federal Court fining it $12.5 million in a decision handed down yesterday.
ACCC Ticks Saputo, Murray Goulburn Deal
Added On - 4/5/2018 9:10:22 AM
Saputo's proposed acquisition of Murray Goulburn assets will go ahead after the ACCC gave the deal the tick of approval following its acceptance of a court-enforceable undertaking from Saputo to divest Murray Goulburn's Koroit plant in southwestern Victoria.
Retail Sales Rebound, Building Approvals Still Running
Added On - 4/5/2018 9:10:09 AM
On the whole, goodish news for the economy from yesterday's two major data drops from the Australian Bureau of Statistics - retail sales and building approvals for February.
News Shorts: Aust Ag Slumps, No Love For Lovisa
Added On - 4/5/2018 9:09:40 AM
Shares in Australian Agricultural Company slumped sharply yesterday after the beef producer said it expects a statutory earnings loss of between $30 million and $40 million for the year to March 30 2018
Growing Retailer Lovisa Loses CEO
Added On - 4/4/2018 7:52:01 AM
Shares in fast growing budget jewellery retailer Lovisa will be under pressure today after the company revealed after trading yesterday that CEO, Steve Doyle was quitting.
Royal Commission Weighs On Bank Share Prices
Added On - 4/4/2018 7:51:48 AM
Weak bank shares caused most of the damage to the Australian stockmarket market in the March quarter and pushed the ASX 200 to a level lower than it was at the end of the March quarters in 2017 and 2016.
Harbour Energy Swoops On Santos
Added On - 4/4/2018 7:51:35 AM
Santos looks certain to fall to an American private equity company. That's after US-based Harbour Energy has returned with an improved $13.5 billion offer for Australia's third-largest energy producer.
RBA Remains Hold With No End In Sight
Added On - 4/4/2018 7:51:27 AM
As expected no move on rates yesterday by the Reserve Bank board for a record 20 months in a row.
Gold, Oil Post Quarterly Gains
Added On - 4/3/2018 8:13:20 AM
Gold and oil had solid starts to 2018 in the March quarter with another round of gains.
Wall St Spooked As Trump Blasts Amazon
Added On - 4/3/2018 7:53:00 AM
Wall Street fell sharply Monday, with the S&P 500 lurching back into correction territory and Nasdaq turning lower for 2018 and nearing correction territory.
Wesfarmers Plots UK Exit
Added On - 4/3/2018 7:51:53 AM
Wesfarmers shares fell 6.4% in the March quarter (and 6.7% from its peak in the quarter of $44.56) as the new management started hacking and slashing at the mistakes of the long reign of former CEO, Richard Goyder.
Shares Post Miserable March
Added On - 4/3/2018 7:45:20 AM
The Australian stockmarket ended the March quarter lower than it was at the end of the March quarters in 2015 and 2016 - a sign of the continuing drift in the market despite the sharp improvement in the health of the Australian economy.
 

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