Ausenco Shares Plummet After Shock Downgrade
Mining services group Ausenco (AAX) saw its shares sold off by more than 30% yesterday after it joined the downgrade club with a possible earnings downgrade of 25% to more than 30%.
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Australand Interim Earnings Sag
After boosting earnings 28% in the year to December 2012, Australand Property Group (ALZ) found the going much tougher in the six months ending June 30.
Read MoreInflation Under Control, But Rate Cut Up In The Air
Don’t forget the rise in petrol prices this month (up by 20c a litre on some days in some markets) when assessing if the mostly moderate Consumer Price Index data yesterday for the June quarter might allow the Reserve Bank to cut interest rates at its next meeting on August 6.
Read MoreChina Moves To Help Slowing Economy
Hours after the release of the so-called ‘flash‘ release of the monthly HSBC/Markit survey of Chinese manufacturing showing activity at an 11 month low, the country’s government has moved to provide limited stimulus, especially to small business.
Read MoreWide Bay Off Target
The shares in small regional lender, Wide Bay Australia Ltd (WBB) will be sold off heavily this morning after the company late yesterday produced a surprise profit downgrade and increase in provisioning against two poorly performing parts of the company.
Read MoreFortescue Doing Better, Will Asset Sales Happen?
Fortescue Metals Group (FMG) has joined BHP Billiton and Rio Tinto in surprising investors with higher iron ore production and sales for the three months to June and for the 2012-13 financial year.
Read MoreIncitec Warns Of Profit Hit
The market reacted calmly to the surprise news yesterday from explosives and fertiliser group Incitec Pivot (IPL) that it had taken a $23 million hit from operating problems at its ammonia plant in North West Queensland earlier this month.
Read MoreGage Roads Goes Down A Treat
We love a beer here at ShareCafe. And for those of you who like the odd cleansing ale, Gage Roads Brewing Company Limited (GRB) is an Australian-based company worth a look as well as a taste.
Read MoreFuntastic Seeking Funds
Toy and confectionery distributor Funtastic (FUN) surprised yesterday with a request for a suspension to allow a fund raising to be determined by tomorrow.
Read MoreAFI Lifts Revenue, Profits And Dividend
Australian Foundation Investment Co (AFI), the country’s largest listed investment company, has surprised by lifting final dividend after recording a 10% lift in net profit for the year to June 30.
Read MoreMajority Gives Abe Chance To Reshape Japan
A quiet end for the Japanese stock market the day after Prime Minister Shinzo Abe’s Liberal Democratic Party and its coalition ally, the Komeito Party won control of the country’s upper house, thereby opening the way to three to four years of stable government and quite possibly sweeping reforms.
Read MoreAvoiding A Big Tax Bill When An SMSF Pension Stops
The ATO has released a draft tax ruling which outlines their view of what happens from a income and capital gains perspective when a pension payable from a fund ceases to be payable.
Read MoreThe Week Ahead
Australian inflation news and interest rate speculation will dominate markets here this week, along with corporate earnings and other reports here and in the US.
Read MoreOrica, Santos Slip
More reminders of the weakening in earnings prospects from from the resources sector.
Read MoreMore Gains For Japanese Shares After Poll Results?
Markets here will ignore them, but the results of yesterday’s upper house elections in Japan will be important not only for our second largest export market, but also for Australian exporters, if only they can focus on them.
Read MoreAldersley On Linc, Kingsgate
I was a little premature recommending Kingsgate at $1.80 in May. It plummeted to $1.26 briefly at the end of June as panic set in about the gold price. Nearly every global broker has since downgraded their target for gold to about $1100 or below. Just in time as it happens for the seasonal rally in July that usually occurs. Today we have seen gold get back over $1300 and it would not surprise me if gold rallied towards $1500 this month in a sudden spike. The reason is despite levies on gold buying by Indian nationals, both Chinese and Indian demand for gold spikes about this time of year ahead of the wedding season.
Read MoreA Not So Golden Outlook
We are about to enter the reporting season (yearly, quarterly, half yearly) for the world’s major miners, including gold producers who will prove to be the source of much angst and financial pain for investors large and small.
Read MoreWoolies Masters Misstep
Confession day for Woolworths (WOW), with the country’s biggest retailer finally giving in to mounting pressure from analysts and shareholders and revealing the size of the losses its Master’s hardware adventure is racking up.
Read MoreAurizon’s Hedge Fund Admirer
News that one of the world’s leading hedge fund managers had identified Aurizon Ltd (AZJ), the old Queensland Rail business, as one of his best investment ideas, sent the shares of the rail giant up 3.6% yesterday to $4.55, within sight of its all time high of $4.57.
Read MoreWoodside Suffers Revenue Fall
It won’t be the best looking interim result that Woodside Petroleum (WPL) releases to the market next month, judging by the second quarter and first half production report released yesterday.
Read MoreNew Life For Billabong, At Last, Or The Last Attempt?
So will there be a new life for the deeply-troubled global youth retailer Billabong after its long expected bailout?
Read MoreBHP Breaks Records In Ore Production
After months of being the easy target for short sellers, hedge fund traders and market know-alls, especially when there’s weak economic news from China, Australia’s big three iron ore miners – BHP Billiton, Rio Tinto and Fortescue Metals Group – are back in the limelight and enjoyed nice rises yesterday.
Read MoreProfit, Dividends To Surge For IAG Shareholders – At Last
Shareholders in Insurance Australia Group can expect a sharply higher final dividend payment in August after the company revealed yesterday that it is looking at a cracker of a full year result.
Read MoreRio’s Iron Ore Plans Still On Track
The slowing Chinese economy hasn’t deterred Rio Tinto (RIO) from continuing to drive its WA iron ore expansion.
Read MoreRate Cut Hopes Disappearing
The chances of another rate cut are receding and one will only occur if there’s a collapse in Chinese demand for our minerals or the US economy hits the wall and slumps into a recession which paralyses global financial markets (a repeat of 2008) and threatens to deliver a body blow to the Australian economy.
Read MoreALS Launches $580m Oil And Gas Deal
Obviously the board of Brisbane-based ALS (formerly known as Campbell Brothers) isn’t too worried about the slump in activity in the mining and resources sector (its key area of interest) lasting too long, judging by the announcement of two purchases in the sector yesterday – including its biggest deal yet – the more than half a billion dollar purchase of a big UK-owned oil and gas services group called Reservoir Group.
Read MoreGoing Blue To Go Green
With carbon pricing and/or taxing back in the news – let’s not get into a semantic debate about it – it is an apposite time to re-examine one of the more interesting energy exposures on the Australian Securities Exchange (ASX), Ceramic Fuel Cells Limited (CFU).
Read MoreDjerriwarrh Earnings Slide
Melbourne-based listed investment company, Djerriwarrh Investments (DJW) saw a 14.7% slide in net earnings for the 2012-13 financial year, a result that echoed the performance of its stablemate, Mirrabooka, which reported its profit last week.
Read MoreDeals – RHG To Go, AGL Swoops On Rival
It seems the brief battle for control of RHG, the last bit of the mortgage lender Rams (which was the worst float ever, according to some, listing just weeks before the GFC hit and then seeing the share price collapse), could now be over after a higher offer from Resimac.
Read MoreTreasury’s US Wine Hangover Hurts
Unlike the mostly benign reaction to the weaker Chinese economic data yesterday, wine producer Treasury Wine Estates (TWE) again reminded us that the market doesn’t like big, hard to explain problems emerging in a major company, especially when it is close to a reporting period and in a major market for the company.
Read MoreSlowing China Doesn’t Stampede Markets
China’s trade and economic data for June and the June quarter were weak, as expected, but markets took the news in their stride, unlike the silly reactions to weak Chinese data on numerous of occasions in the past few months.
Read MoreAnother China Test For Market Confidence
More confusion over China’s official growth target at the weekend, with the government correcting comments that were made last last week by the country’s Finance MInister, who seemingly suggested that a reduced target for GDP growth in 2013 was now policy.
Read MoreThe Week Ahead
More of the same this week as last week and the week before – China’s economy, central bankers, earnings and production reports.
Read MoreDollar’s Fall Continues, Despite Market Bounce
Take the value of the Aussie dollar as the best indicator of how markets sit at the start of this week.
Read MoreJobless Rate Highest In Nearly Four Years
It was a glass half full / half empty story from yesterday’s jobs report – except for Queensland and Tasmania where the news was bad. Victoria was also a bit on the bad news side of the ledger.
Read MoreCSR Bullish On Housing Recovery
Diversified industrial group CSR Ltd is confident there’s a home building surge under way, judging by comments to shareholders at yesterday’s AGM in Sydney by MD Rob Sindel.
Read MoreWeaker Yen Boosting Japanese Recovery
Just as China’s economy continues to slow, raising concerns among Australian investors and companies about the health of our biggest export market, Japan, our number two market, seems to be going from strength to strength.
Read MoreERA Dips Into Stockpiles To Keep Ticking Over
Uranium producer and Rio Tinto subsidiary, Energy Resources of Australia (ERA) remains in limbo while it awaits a board decision about the significant new expansion project called Ranger 3 Deeps.
Read MoreMirrabooka Confident, Pays Special Dividend
Small Melbourne-based listed investment company (LIC), Mirrabooka Investments (MIR), is paying a special dividend as well as keeping its ordinary final for the year steady, despite a fall in earnings and revenue for the year to June 30.
Read MoreGrim Outlook For China’s Exporters Worries Markets
So what to make of China’s trade figures for June showing a fall in exports and imports?
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