APRA Sparks Bank Rally
So much for the rubbish on Tuesday about how the banks would be hit by big capital calls in the new rules from key regulator, APRA.
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BHP Production Numbers
BHP is looking for a significant surge in earnings (and dividends) for the June 30 year after turning in a June quarter and full year production report that was surprisingly stronger than expected.
Read MoreBanking PR Campaign Fails
The big four banks just can’t take a trick when it comes to their scare campaign about the levy revealed in the 2017-18 Federal Budget in May. The banks and the Bankers Association and some in the media tried sovereign risk, threat to stability, threat to shareholders/superannuation funds/small investors, home borrowers, interest rates and and the availability of loans.
Read MoreBAML Poll Shows Valuation Fears
Banks are hot, high flying tech stocks aren’t, nor are American equities generally, and fears are rising that global growth is slowing – all this and more is according to the July investment manager survey from bank America Merrill Lynch.
Read MoreAPRA Calls For ‘Unquestionably Strong’ Buffers
It’s going to be a rough day for bank investors after the key regulator, APRA released its briefing paper on its new rules for new capital buffers for all banks – rules that will force the banks large and small to raise billions of dollars in new capital – just as APRA did back in 2015.
Read MoreRio Production Points To Better Times For Big Miners
If the interim production data from Rio Tinto is any guide, Australia’s big three iron ore miners – Rio, BHP and Fortescue Metals are looking at a substantial surge in earnings for the half year to June 30 (in the case of Rio) and the full year (BHP and Fortescue).
Read MoreTheme Park Woes Hit Village Roadshow
More losses and impairments will give Village Roadshow another slide in annual profit for the year to June 30 after which will be a replay of the 2015-16 result.
Read MoreWellard Whacked As Weak Demand Hits Cattle Exports
Wellard shares dropped to an all-time low of 14.5 cents on the news, down 25.6% on the day after revealing its financial and trading position was worse than expected.
Read MoreRBA Minutes Spark A$ Rally
The Aussie dollar went for a ride yesterday to new two year highs while the ASX was crunched after the market jumped on a discussion of the “neutral” interest rate by the Reserve Bank was made public in the minutes of the July 4 board meeting.
Read MoreCimic Ups Dividend On Strong First Half
Spanish-controlled constructor and contract miner CIMIC (the old Leighton Holdings) has rewarded shareholders for a second period with a 25% increase in interim dividends as revenues grew in all of its core businesses lifting half year profit by 22%.
Read MoreLIC Djerriwarrh Disappoints
Melbourne-based Listed Investment Company (LIC), Djerriwarrh Investments has confirmed it had a miserable 12 months to June 30 as it’s income and profit lines were battered by lower dividend income and unfavourable timing in its options trading.
Read MoreGood News For The Australian Economy From China
China’s economy is heading for a year of rising economic growth for the first time in seven years as exports and the property sector do better than expected.
Read MoreBellamy’s Confusion Leaves Sour Taste
Shareholders in dairy group, Bellamy’s were blindsided last week when, during the company’s current fund raising, Chinese authorities cast doubt on the ability of the company to use a newly acquired Melbourne plant to keep supplying the China market.
Read MoreDiary: Oz Jobs, China GDP, US Earnings
The coming week will see interest rate decisions in Japan and Europe, more earnings from the US, GDP data from China, retail sales figures in the UK and jobs in Australia.
Read MoreASX Adds 1.1% Over The Week
The surging Aussie dollar will occupy minds this week, although the June jobs figures will be the major event locally.
Read MoreAussie Dollar Surges To 2-Year High
The Australian dollar closed at its highest level for more than 2 years overnight Friday of 78.38 US cents, boosted by weak data in the US which has cast doubt on the Fed’s current interest rate policy.
Read MoreIron Ore Leads Commodities Higher
Commodities picked up last week and finished strong with iron ore back in bull market territory at over $US65 a tonne, while coking coal prices staged a nice bounce. Gold was up close to 4% for the week, copper rose and oil was up more than 5%. Wheat though, a recent star, fell 9% over the week.
Read MoreUS Banks Face Earnings Hurdle
America’s second quarter reporting season steps up pace this week.
Read MoreNAB ‘Mildly Optimistic’ On Gold
The National Australia Bank says it is “mildly optimistic about gold – despite some near-term weakness.”
Read MoreChina Trade Tops Expectations
China has revealed stronger-than-forecast trade figures for June, as demand for Chinese goods and for imports of key commodities jumped.
Read MoreChina Renews Appetite For Iron Ore
While China’s imports of crude oil and soybeans fell in June, iron ore imports again rose and are on their way to a new all time high by the end of December if the current pace is maintained.
Read MoreWhitehaven Misses Coal Production Guidance
Whitehaven Coal disappointed the market yesterday with a flat final quarter which left annual production for 2016-17 of 20.8 million tonnes of saleable coal just short of guidance.
Read MoreOpec Deal Shows Signs Of Leaking
Is OPEC starting to cheat? As analysts cut their price estimates for this year and next, the International Energy Agency has suggested some cartel members had “opened the taps” in June as showed some members lifting output last month.
Read MoreCanada Raises Rates For First Time In 7-Years
Canada lifted interest rates for the first time in nearly seven years overnight as the country’s central bank joined the US Federal Reserve in leading a monetary policy shift across major industrialised countries in response to better global economic growth.
Read MoreProduction Update Lifts Resolute Mining
Shares in Resolute Mining got a small kick along yesterday after the company revealed it had done much better in 2016-17 than expected, boosting gold production by more than forecast and slashing costs.
Read MoreAdairs Shares Jump As Sales Improve
Now that’s a positive reaction – manchester and homewares group, Adairs saw its shares leap more than 34% in yesterday’s negative market after a surprise upgrade to its outlook.
Read MoreMirrabooka First On Franking Payouts
The Melbourne-based small company specialist fund manager Mirrabooka Investments has taken advantage of the Federal government’s cut to company tax by increasing the amount of money it plans to pay to shareholders.
Read MoreAP Eagers Avoids Downgrade
Brisbane-based car dealer, A.P. Eagers has belied the market gloom about its share price in recent months with a profit upgrade that revealed a tiny 0.3% rise in pre-tax profit for the six months to June 30. That is better than the downgrade in may suggested.
Read MoreBuffett Donates $3.17 Billion
Warren Buffett has made his largest in a decade donation of his Berkshire Hathaway shares to charity – this time it’s around $US3.17 billion worth of the company’s B class stock.
Read MoreSlater & Gordon To Settle Class Actions
Do shares in legal group Slater and Gordon have any value?
Read MoreBidding War Begins For Vocus
No one wants to offer real money early in takeover bids these days for companies, especially private equity groups.
Read MoreFormer Tesco Exec To Run Metcash
Food, grocery wholesaler and hardware group, Metcash has been quick to find a replacement for its existing CEO, Ian Morrice.
Read MoreNAB: Business Conditions At 9-Year High
To some economists and commentators the monthly report from the National Australia Bank on business conditions and confidence comes as ’new’ news as they show both are at or close to decade long highs, or well above long term averages for the long running monthly survey.
Read MoreBHP Agitator Challenges Buffett Deal
A rare example of a challenge to a big deal from Warren Buffett and his Berkshire Hathaway group has emerged.
Read MorePerpetual Fails In Bid To Breakup Soul Patts-Brickworks
Perpetual, the Sydney fund manager, is facing a multi-million dollar costs bill after losing its long running court case to try and break apart the Washington H. Soul Pattinson and Brickworks cross shareholdings that is the core business of the multi-millionaire Milner family.
Read MoreACCC Appeals Tabcorp-Tatts Merger
The $11 billion merger of Tabcorp and Tatts faces more delays after the competition regulator, the ACCC signalled it was going to challenge a ruling from the Australian Competition tribunal giving the deal the greenlight.
Read MoreAppin Coal Closure Hits South32
South32 shares fell 3.4% yesterday after it became clear the company’s NSW South Coast coal hard coking coal mining operations would be hit by problems at its Appin mine.
Read MoreChina CPI Cools In June
No sign of unwanted inflationary pressures in China’s producer (PPI) and consumer price (CPIA) data for June, despite a slightly stronger pace of activity in some areas of the economy.
Read MoreOil, Retail To Undermine US Earnings Season?
Weak reports from US oil and gas and retailers will be a feature of the June quarter earnings season which kicks off this week.
Read MoreBuffett Bets Big On Power
Warren Buffett’s Berkshire Hathaway will buy Oncor, the US power utility based in Texas for around $US18.1 billion (including debt), adding to his already huge power holdings in the US Midwest and West.
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