Oil Waits For OPEC Impact
Oil prices will be pressured this week by a stronger US dollar, ahead of OPEC’s end of year meeting on Friday night our time as Saudi Arabia sent conflicting hints to global markets late last week.
Read MoreOil prices will be pressured this week by a stronger US dollar, ahead of OPEC’s end of year meeting on Friday night our time as Saudi Arabia sent conflicting hints to global markets late last week.
Read MoreShareholders in struggling retailer, Woolworths (WOW), who turned up for yesterday’s annual meeting in Sydney got the now familiar spin from chairman Gordon Cairns – he acknowledged the problem, admitted mistakes, promised to do better, outlined some priorities and then told the audience the company had to move on.
Read MoreAs expected, private capital investment fell sharply in the September quarter as the mining and resources boom went cold.
Read MoreThe $9 billion takeover battle for ports and rail group, Asciano (AIO), has moved decisively in favour of the group led by Qube (QUB) and its chairman, Chris Corrigan after the competition regulator, the ACCC, dealt another blow to chances of Brookfield Infrastructure’s bid winning the day.
Read MoreA flat start to trading on the ASX today and don’t expect much of a lead globally until next week with the US markets closed tonight for Thanksgiving and trading on Friday night in a shortened session.
Read MoreThe 2015 beef boom is having some spillover effects in the stockmarket. Elders (ELD) mentioned it in its full year earnings report earlier this month.
Read MoreAristocrat Leisure (ALL) lifted final dividend by one cent to 9 cents a share at the end of a year where earnings rebounded strongly.
Read MoreIt was probably a co-incidence yesterday, but as Aristocrat (ALL) shares were basking in the glow of a higher dividend and solid rebound in 2015 earnings, its smaller local rival was seeing its shares battered after the surprise retirement of a key executive.
Read MoreSecurities in tollroad operator Transurban (TCL) went into a trading halt yesterday after the company announced a $1.025 billion raising to help fund the $2 billion acquisition of the Brisconnections-owned AirportlinkM7.
Read MoreShares in Billabong (BBG) ended down more than 20% yesterday as the company became the latest casualty of nervy investors punishing companies which drop surprise earnings downgrades on an unsuspecting market.
Read MoreWhile everyone, especially the media wanted to know what his thoughts on the move to gazump the Brookfield bid for Asciano (AIO), Qube (QUB) chair, Chris Corrigan yesterday, made sure shareholders fully understood the tough outlook the logistics group faces in the next year.
Read MoreAustralian interest rates to remain on hold next Tuesday and US rates to rise next month – that’s the sum total of overnight speeches and data releases.
Read MoreOur market is heading for a weak opening this morning after another sell off in global metals rocked markets overnight.
Read MoreNewcrest Mining (NCM) shares dipped 2.2% yesterday on weak gold pries, despite good news on the production front at its vital Cadia Mine in NSW.
Read MoreFor some reason the market gossip about private equity interest in Woolworths (WOW) won’t go away – not for the entire company (which would be a very rich dish at close to $53 billion).
Read MoreThe local board of information provider and credit rating group Veda (VED) has unanimously recommended the $2.5 billion takeover bid from its credit US data peer Equifax.
Read MoreASX 200 futures lost 5 points or 0.1% overnight Friday, as the Aussie dollar rose (despite a stronger greenback) and most commodity prices dipped.
Read MoreThis week sees the local economy’s health return to the forefront of market thinking with RBA Governor Glenn Stevens due to make a major speech while the Bureau of Statistics issue a series of reports for the third quarter national accounts due out the following week.
Read MoreThe 4.1% jump in the ASX 200 last week was an out of the blue performance for the local markets, and fascinating for that because it left some analysts wondering whether a bottom had been reached in the latest sell-off.
Read MoreDespite a stronger US dollar, the Aussie dollar hit a one month high on Friday night of 72.50 US cents as currency movements again played a major part in commodity prices over the week.
Read MoreBHP Billiton (BHP) negotiated yesterday’s AGM in Perth with little difficulty, despite the now usual protests from the usual suspects, with the issue of the moment, the mine dam disaster in Brazil discussed extensively as well as the company’s dividend policy.
Read MoreShares in building products group James Hardie (JHX) fell sharply yesterday after the company downgraded its full year profit guidance after a flat second quarter, blaming uncertainty over the state of the US housing market and asbestos claim liabilities.
Read MoreAs it forecast last week, labour hire group Programmed Maintenance Services (PRG) dropped into the red in the six months to September 30, thanks to big impairments which generated the $18.7 million loss.
Read MoreNo wonder our market will start flat today – trading overnight was confusing to say the least and the enthusiasm from yesterday’s 2.1% surge here vanished by the time it got to Wall Street.
Read MoreAn unchanged dividend after a big write-down and fall in underlying profit is always a far better indicator of the way the board and management sees the outlook for a company, especially a major group like Orica (ORI), the big explosives and mining services group which has had a 2015 to forget.
Read MoreBHP Billiton (BHP) and South 32 (S32) still share a common shareholder base because of the spin-off of S32 earlier this year, and the slide in the share price of both companies in recent months is also a shared (but unwanted) experience.
Read MoreThere was two tiniest of bits of good news from the last of the monthly economic reports for October from China yesterday, as well as the usual collection of poor to horrid numbers.
Read MoreAnother day of pressure for BHP Billiton (BHP) shares ahead of today’s annual meeting for Australian company shareholders in Perth, as fears about the cost and impact of the Samarco dam disaster escalate.
Read MoreThe rebound in the local market yesterday looks like being a one day wonder as the rally ran out of puff offshore (especially on Wall Street, but not in Europe) and commodity prices resumed falling, especially iron ore, gold and oil.
Read MoreSo where did big Wozza (AKA The Sage of Omaha, or Warren Buffett) direct his billions into the US stockmarket in the September quarter?
Read MoreQantas (QAN) shares rose solidly yesterday after the company and ratings group Standard & Poor’s combined to produce a ratings upgrade to return the airline to the prized investment grade level.
Read MoreThe downturn in spending in resources, especially mining and oil and gas has again caught up with engineering group Monadelphous (MND) which yesterday issued a warning about a looming fall in first half revenue, and presumably profits.
Read MoreOur market is heading for a solid bounce at the opening this morning after the predicted sell off and flight to safety in the wake of the Paris attacks on Friday night, failed to eventuate.
Read MoreLast week it was Nine Entertainment Co (NEC) and Southern Cross Austereo (SXL) getting a sudden burst of support on takeover talk rumours appearing in the media, only to be knocked down.
Read MoreElders (ELD) shares sold off yesterday despite the company confirming that its turnaround remains on track.
Read MoreThe slight recovery in dairy earnings, cost cuts and lower production has seen Kiwi dairy giant, Fonterra (FSF), raise its annual earnings forecast a touch.
Read MoreA moment for some truth on Thursday in Perth when Australian shareholders meet at the 2014-15 annual meeting.
Read MoreAnother weak start for the Australian market is ahead for today after one of the worst weeks for equities around the world this year, certainly since the mid-year sell-off.
Read MoreThe atrocities in Paris and the G-20 meeting in Turkey, the third quarter Japanese GDP data (later today) and more weak financial and sales reports from big US retailers, will dominate markets already whacked by last week’s sell-off.
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