Giving you all the latest in Stock Market Information as it happens
 

Month: November 2011

Evening Market Analysis: Muted Session

Evening Market Analysis: Muted Session|Evening ASX NewsIn a muted day of trading, the Aussie market ended modestly higher on the back of last night’s gains on Wall Street.

The banks helped drag the market into positive territory; ANZ was the best of the big four with a 2% rise.

The big miners struggled amid nagging fears over the global economy; BHP lost 0.2%, and Rio Tinto shed 0.9%.

In the broader market, HFA Holdings plummeted 7.6% after lowering its earnings guidance for the half year ending 31 December 2011.

The ASX 200 put on 18 points (+0.4%) to close the day at 4120.

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Evening Market Analysis: Muted Session is a post from: Australian Stock Report Market Pulse Blog

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Midday Market Analysis: Quiet Morning

Midday Market Analysis: Quiet Morning|Midday ASX NewsThe Aussie market is holding above water heading into the afternoon session, currently trading 10 points higher (+0.3%), at 4115.

Despite the modest gains nearly every sector is in positive territory with healthcare, energy and industrials leading the way.

In company news, Aquila Resources (AQA) is one of the stronger performers on the day, up 4.5% after announcing it will issues bonus stock to shareholders and that it has received approval from a federal government department for a major iron ore project.

Around the region, Asian markets are mainly weaker; the Hang Seng and Nikkei are off approximately 0.8% each.

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Midday Market Analysis: Quiet Morning is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Analysis: The World is Waiting

Morning Market Analysis: The World is Waiting|Morning ASX NewsInternational markets recorded fairly muted gains overnight, with the finance world still holding its collective breath pending an outcome in Europe.

The FTSE added 24 points (+0.5%) to settle at 5337, whilst the CAC (+0.5%) and DAX (+1%) also recorded gains.

Stateside the Dow Jones put on 33 points (+0.3%) to settle at 11556, whilst the S&P 500 (+0.2%) also gained ground but the Nasdaq shed 0.5%

Stronger-than-expected consumer confidence data provided a boost but weak financial shares limited the advance in the US.

The euro dropped versus the majority of its most-traded counterparts amid speculation Europe’s effort to expand its bailout fund to 1 trillion euros ($1.3 trillion) is falling short.

The Aussie dollar and the Swedish krona were the biggest winners versus the greenback as investors sought higher-yielding assets.

Oil rose for a third consecutive session on the back of the consumer confidence numbers. Crude for January delivery rose US$1.58 to settle at US$99.79 a barrel.

Gold and copper also enjoyed solid gains, adding 1.5% and 2.8% respectively.

In company news, Metcash has reported a 14% slide in 1H11 net profit to $94.4 million. The result was weighed down by grocery price deflation and economic uncertainty.

Today’s session will bring data in the form of HIA new home sales (tentative), private capital expenditure and private sector credit (11:30am, AEDT).

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Morning Market Analysis: The World is Waiting is a post from: Australian Stock Report Market Pulse Blog

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Evening Market Analysis: Late Session Surge

Evening Market Analysis: Late Session Surge|Evening ASX NewsThe Australian market finished in front today, after extremely strong leads from the international indices overnight.

Today’s gains came on the back strength in the big four banks; ANZ and NAB were the best among their rivals, up 1.6% each.

The big miners performed well on the back of stronger commodities prices; BHP and Rio Tinto both advanced by 0.4%.

Paladin was a standout in the energy space, soaring 6.9% for the day.

The ASX 200 put on 44 points (+1.1%) to close the day at 4102.

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Evening Market Analysis: Late Session Surge is a post from: Australian Stock Report Market Pulse Blog

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Midday Market Analysis: Bulls Lack Conviction

Midday Market Analysis: Bulls Lack Conviction|Midday ASX NewsDespite the strong performance by international markets last night, the XJO is currently 10 points (-0.3%) underwater.

The sectors are fairly evenly balanced between winners and losers, with utilities and industrials the strongest performers whilst financials and materials are the laggards.

In broad economic news Wayne Swan took to the pulpit this morning to deliver the government’s latest mid-year economic and fiscal outlook statement.

He revealed an estimated $20 billion drop in revenue over the next four financial years due to the difficult global economic conditions, which has likely been a contributing factor to today’s market weakness.

Around the region Asian markets are outperforming our market; the Nikkei is up 1% whilst the Hang Seng and Shanghai Composite are marginally higher.

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Midday Market Analysis: Bulls Lack Conviction is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Analysis: Bulls Have a Win

Morning Market Analysis: Bulls Have a Win|Morning ASX NewsInternational markets collectively rallied overnight amid speculation European leaders are moving to bulk up the region’s rescue fund.

The FTSE added 148 points (+2.9%) to settle at 5313, whilst the CAC (+5.5%) and DAX (+4.6%) enjoyed even stronger gains.

Stateside, the Dow Jones added 291 points (+2.6%) to settle at, whilst the S&P 500 gained 2.9% and the Nasdaq jumped 3.5%.

The move higher snapped a seven-session decline for US stocks in the S&P, after Thanksgiving retail sales climbed to a record.

The US dollar and Japanese yen lost ground amid renewed optimism regarding Europe, which in turn decreased demand for safe havens.

The Kiwi dollar rose against the majority of its 16 major peers following the re-election of Prime Minister John Keys, strengthening his ability to balance the budget.

Oil climbed, adding US$1.44 to settle at US$98.21 a barrel, whilst copper advanced the most in a month following the steps in Europe to tame the debt crisis.

There is no major local data due out for today’s session.

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Morning Market Analysis: Bulls Have a Win is a post from: Australian Stock Report Market Pulse Blog

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Midday Market Analysis: Some Perspective, Please

Midday Market Analysis: Some Perspective, Please|ASX NewsThe Aussie market is enjoying a strong session so far today, buoyed by speculation the IMF will step in to help Italy after the nation’s borrowing costs surged.

The XJO is 70 points (+1.8%) stronger, trading near 4050.

Financials and materials are the standouts, with BHP, RIO and FMG all up more than 2%, whilst the big four all also enjoying gains of 2% or more each.

In company news, Qantas has announced that it expects underlying pre-tax profits of $140-$190 million (down from $417 in the previous period) for the first-half after booking costs of $650 due to higher fuel prices and the industrial dispute.

The market has taken the news in its stride, with QAN currently up nearly 5%.

Around the region, Asian market area mainly stronger; the Nikkei is up 1.8% whilst the Hang Seng is 1.7% stronger.

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Midday Market Analysis: Some Perspective, Please is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Analysis: Bumpy Ride Ahead

Morning Market Analysis: Bumpy Ride Ahead|Morning ASX NewsIt was a mixed bag for international markets on Friday night with gains in Europe countered by losses in the US.

In Europe the FTSE added 37 points (+0.7%) to settle at 5165, whilst the CAC (+1.2%) and DAX (+1.2%) also posted gains.

Stateside, the Dow Jones shed 26 points (-0.2%) to settle at 11232, whilst the S&P 500 (-0.3%) and tech-heavy Nasdaq (-0.8%) also endured losses.

The losses rounded out the worst Thanksgiving-week loss for the S&P since 1932, with Europe’s debt crisis and local concerns about policy makers failing to reach agreement on reducing the Federal budget weigh heavily.

The euro lost ground to round out its fourth consecutive losing week, its longest such streak against the greenback in 18 months.

Germany’s struggle with a bond auction signalled the crisis is impacting the region’s most fiscally sound nations, causing traders to exit the 17-nation currency.

Crude oil rose amid ongoing tensions in the Middle East, with investors concerned that tensions will disrupt supply. January delivery oil added 60 US cents to settle at US$96.77 a barrel.

There is no major local economic data due out for today’s session.

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Morning Market Analysis: Bumpy Ride Ahead is a post from: Australian Stock Report Market Pulse Blog

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Evening Market Analysis: Rough End to Rough Week

Evening Market Analysis: Rough End to Rough Week|Evening ASX NewsThe Australian market finished the week with another horrible day, following on from a dismal lead from Europe overnight.

As for the battle between the bull and the bears, the bears dominated from the outset and never let up, eventually breaking below the key 4000 point level.

The major banks struggled amid concerns over their limited access to offshore funding; CBA tumbled 2.6%, while rival NAB declined 1.9%.

The big miners were hard hit amid nagging fears over the global economy; BHP lost 1.4%, and Rio Tinto shed 0.7%.

In the energy space Woodside Petroleum had a terrible day (-5.8%) after it announced an FY12 production target that was below expectation.

The ASX 200 slumped 60 points (-1.5%), settling at 3984. Today’s losses dragged the market further into the red to close down a whopping 4.6% for the week.

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Evening Market Analysis: Rough End to Rough Week is a post from: Australian Stock Report Market Pulse Blog

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Midday Market Analysis: Bears Still Hungry

Midday Market Analysis: Bears Still Hungry|Midday ASX NewsThe Aussie market is suffering badly so far today, with the local bears sinking their claws into the bearish leads provided by European markets last night.

The XJO is currently down 55 points (-1.3%) at 3990.

Most sectors are underwater, with energy and financials the hardest hit, whilst defensive telcos and healthcare are holding up.

In company news, Woodside (WPL) is taking a bath after delivering a disappointing investor update. The stock is down more than 7% on the day.

On the other end of the spectrum, Nexus Energy continues to be a standout, up more than 3% on the day.

Around the region, Asian markets are all trading weaker with the Hang Seng the worst down 1%.

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Midday Market Analysis: Bears Still Hungry is a post from: Australian Stock Report Market Pulse Blog

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