Oil Slumps To Two-Month Lows
Oil slumped again on Friday, and appears to be heading for a capitulation where the only momentum is negative, and prices will continue to head lower.
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Brazil Vows To Make BHP Pay
More pressure on BHP Billiton (BHP) shares today as the markets sell-off after the Paris terrorist outrages and investor worry about the continuing slide in commodity prices – especially oil.
Read MorePressure Builds On BHP
BHP Billiton (BHP) shares are facing a nasty 5% plus plunge on the ASX when trading resumes this morning after a another night of losses on global markets and the first fines imposed by the Brazilian government for the Samarco mine collapse a week ago.
Read MoreInvestors Scrap Sims After Profit Warning
Another earnings shock has seen shares in scrap giant, Sims Metals Management (SGM) plunge 19% yesterday.
Read MoreGloomy Outlook At Seven West
For the second annual meeting in a row, Seven West Media (SWM) CEO Tim Wharton has had glum news for long suffering shareholders on earnings guidance – weak to lower would be the best way to sum it up.
Read MoreSantos Sinks On Relisting
Santos (STO) shares slumped 28% yesterday after trading resumed on a shortfall in the institutional part of the gas player’s underwritten $2.5 billion equity raising.
Read MoreOctober Jobs To Good To Be True?
So no more rate cut looms talk? The October jobs figures yesterday support the Reserve Bank’s caution on the economy and the transition from the investment boom.
Read MoreFlight Centre Off To Solid Start To FY16
And a solid update from Flight Centre Travel Group (FLT) yesterday with the annual meeting told that the company has “generally … performed in line with expectations” in the first four months the current financial year.
Read MoreRetail A Bright Spot In Weak China Data
Apart from an expected rise in retail sales, the rest of China’s remaining economic data for October, released yesterday, was less than impressive.
Read MoreWebjet Flying High
An all time high for Webjet (WEB) shares yesterday after an encouraging earnings forecast at the annual meeting.
Read MoreDulux Paints A Bright Picture
The home building and renovation boom paid off nicely for Dulux (DLX), the paint and building products group, with a solid rise in full year profit and a near 10% increase in total dividend payout for the year.
Read MoreRBNZ Warns On Auckland Housing Risks
Not many shareholders in Australian banks or investment analysts covering our banks, mention the level of exposure the big four have in NZ which is their biggest offshore market. The Reserve Bank of Australia (and APRA) have been keeping a close watch on that exposure and in the second Financial Stability Review for the year, issued in October, the RBA singled out NZ for special mention.
Read MoreChina Trade Picture No Brighter
A month on and China’s trade picture for October was weaker than that in September, and its consumer price inflation fell from last month as well. And producer prices remain stuck deep in deflation.
Read MoreQube Ups The Stakes In Asciano Battle
Logistics and ports group, Qube (QUB) and its two foreign partners has put the weights on Asciano (AIO) and its would be merger partner, Brookfield Infrastructure to put up or face a fight by launching an indicative offer to buy Asciano for $9.25 a share.
Read MoreIncitec Facing ‘Challenging’ Outlook
A solid 2014-15 result and a lift in dividend was not enough to convince grumpy investors that Incitec Pivot (IPL) shares were worth chasing in yesterday’s weak market.
Read MoreInvestor Mortgage Lending Dips In September
Just what regulators like the Reserve Bank and APRA wanted to see, a sharp fall in mortgage lending to investors in September.
Read MoreJob Ads Support RBA’s Status Quo
More support for the Reserve Bank’s contention that monetary policy is about right at the moment from the ANZ jobs report for October.
Read MoreSantos Unveils Cap Raising, New CEO
So will this be enough to isolate Santos’ (STO) mysterious would-be bidder, Scepter Partners?
Read MoreRed Start Ahead For Local Bourse
Another red day is in prospect for the Australian stockmarket after the sell off here yesterday was replicated to varying degrees in European and US bourses.
Read MoreBuffett’s Buried Losses
Buried in the weekend’s third quarter report from Warren Buffett’s Berkshire Hathaway was a couple of unusual points for the fabled long term investor – unrealised losses on some of its core investments, starting with the 8.2% stake in IBM.
Read MoreDiary: Local Jobs, US Retail Sales, Eurozone GDP
Australian jobs, China’s monthly economic data and the fallout from last Friday’s big US jobs report for October and the almost certain rate rise next month, will dominate investor thinking here and offshore in coming days.
Read MoreGold Slips As Greenback Strengthens
The stronger US dollar has again given commodities a whack, with gold, oil, silver and copper all seeing falls on the way and the week.
Read MoreChina Trade Data Points To Waning Demand
A weak trade report from China for October as exports did worse than forecast and low commodity prices again depressed the value of imports.
Read MoreBumper US Jobs Report Firms Rate Hike Odds
The Australian sharemarkets will start the week with a loss after a strong October jobs report brought a possible December rate rise from the US Federal Reserve much closer.
Read MoreCBA Q1 Cash Profit Hits $2.4bn
A mere half per cent rise in cash earnings for the September quarter won’t be enough, if repeated, in the current quarter to give shareholders in the Commonwealth Bank (CBA) hopes for second big increase in interim dividend when the half year result is announced next February.
Read MoreMixed Messages From Boral
Investors were left twixt and tween after the Boral (BLD) annual meeting yesterday. The outlook remains solid and forecasts haven’t changed, and the company hinted at capital management options if there are no acquisitions that fit its criteria.
Read MoreACCC Red Lights Recall Takeover
Another big local takeover is in trouble with the key competition regulator with the agreed bid from US document storage giant Iron Mountain for its smaller competitor Recall (REC) now in doubt because of worries about a contraction in options for local customers.
Read MoreWoolies Downgraded Again
The pain and pressure grows on Woolworths (WOW), sending the shares to test 8-year lows for a second time this week after rating group Moody’s cut its credit outlook to negative, blaming the lack of leadership at Australia’s largest retailer.
Read MoreNAB Economists “Cautiously Optimistic”
The Reserve Bank’s cautious belief that the economy is travelling better than many expect has won a big name supporter from the economics team from the National Australia Bank.
Read MoreHigh Rollers Take Profits At Echo
Shares in casino group Echo Entertainment (EGP) took a bit of mild punishment yesterday as it revealed a slowdown in revenues from high rollers.
Read MoreRetail Sales Dent Rate Cut Hopes
The chances of an interest rate cut from the Reserve Bank became less certain yesterday.
Read MoreDomino’s Serves Up Another Upgrade
Domino’s Pizza (DMP) has upgraded its full year profit and sales guidance less than a month after revealing its expansion in France.
Read MoreGraincorp Profits Dry Up
The worsening weather outlook and El Nino fears which has compounded an already big dry across parts of eastern Australia, have had a major impact on the profits of GrainCorp (GNC), the country’s biggest listed agribusiness.
Read MoreRBA Leaves Rates An Each-Way Bet
The tipsters missed the winner of the Melbourne Cup yesterday and many economists and other tipsters also missed the decision by the Reserve Bank to leave the cash rate on hold for another month, or more.
Read MoreKPMG Issues New Warning On Bank Profits
The annual report on the performance of Australia’s big four banks from accounting firm, KPMG warns shareholders to accept the weakening profit trend that emerged in 2014-15.
Read MoreWestpac Sees ‘Lower-For-Longer’ Environment
Westpac (WBC) yesterday confirmed its 3% rise in full-year cash profit of $7.82 billion, first announced last month with the bank’s lift in mortgage rates and capital raising, but the news did nothing to end the slide in bank shares and therefore the wider market.
Read MoreApartments Skew Building Approvals
Some intriguing signs from the property sector yesterday.
Read MoreYuan Rate Gets Largest Rise In Decade
Mixed messages from China yesterday with another survey showing a slightly less contractionary report on the country’s manufacturing sector, but the country’s central bank boosted the value of the country’s currency by the biggest boost to its trading band in a decade – since trading was freed up in 2005.
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