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

Month: June 2012

Morning Market Analysis: The Streets Turn It Around

Morning Market Analysis: The Streets Turn It Around

Morning Market Analysis: The Streets Turn It Around

International markets were mainly weaker overnight, although US markets managed a late rally to trim losses.

In Europe the FTSE shed 31 points (-0.6%) to settle at 5493, whilst the CAC (-0.4%) and DAX (-1.3%) also lost ground.

Stateside, the Dow Jones gave up 25 points (-0.2%) to settle at 12602, after earlier being down 177 points, whilst the S&P (-0.2%) and NASDAQ (-0.9%) also closed lower.

US stocks rallied in the final hour of trading as optimism for possible aid to debt-strapped European countries cut into losses that followed another weak round of US economic data and the Supreme Court’s health-care decision.

Weekly jobless claims fell slightly more than expected last week, though the prior week’s figure was revised higher.

Separately, a reading on June manufacturing activity showed that a broad swath of the Western US was more sluggish than expected.

The Aussie dollar slipped slightly and is just holding above parity, currently buying SU$1.002.

The US dollar edged higher against the euro, but fell against the yen. The yield on the benchmark 10-year Treasury bond fell to 1.575%.

Crude oil futures fell 3.1% to settle at $77.69 a barrel, while gold futures dropped 1.8% to settle at $1549.70 a troy ounce.

Today’s session will bring us data in the form of private sector credit, 11:30am, AEST.

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Morning Market Analysis: The Streets Turn It Around is a post from: Australian Stock Report Market Pulse Blog

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Evening Market Analysis: Strong Finish

Evening Market Analysis: Strong Finish

Evening Market Analysis: Strong Finish

Aussies shares ended the week on a very positive note, despite the negative lead from international markets last night.

US stocks rallied in the final hour of trading as optimism for possible aid to debt-strapped European countries cut into losses that followed another weak round of US economic data and the Supreme Court’s health-care decision.

The US optimism turned out to be well placed.

During the Australian session the EU leaders announced an agreement to use the bloc’s permanent bailout fund to recapitalise struggling banks directly.

The positive news out of Europe helped most sectors finished strongly in the green, with materials and industrials the standout performers.

Consumer Staples and IT were the only segments to end the day in the red.

The big four banks all advanced, with ANZ the clear best performer, adding 2.5%.

The mining majors gained ground after the European news sparked life into commodity prices. BHP and Rio Tinto jumped 2.3% and 2.4% respectively.

St Barbara (-16.5%) and Allied Gold Mining (+60.3%) announced that they plan to merge to create a combined group with a market value of around $1 billion.

 

David Jones jumped 14.6% after announcing that it has received an unsolicited takeover approach from UK-based EB Private Equity.

 

The ASX 200 climbed 50 points (+1.2%) to settle at 4095.

 

Today’s gains helped the market finish up 1.1% for the week.

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Evening Market Analysis: Strong Finish is a post from: Australian Stock Report Market Pulse Blog

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Midday Market Analysis: Exploding Higher

Midday Market Analysis: Exploding Higher

Midday Market Analysis: Exploding Higher

After languishing underwater earlier the session, the Aussie market has roared to life in the last hour on the back of some positive announcements out of Europe.

The XJO traded as low as 4032 but has since jumped to as high as 4105.

The index is currently holding around 4090, approximately 45 points (+1.1%) to the good.

The gains are widespread, with the clear majority of sectors in the green; industrial and energy stocks lead the way, whilst IT and consumer staples stocks the weakest links.

In company news, St Barbara (-14.2%) and Allied Gold Mining (60.1%) has announced it has planned to merge the two companies to create a combined group with a market value of around $1 billion.

Elsewhere, David Jones has jumped 13.7% after announcing that it has received an unsolicited takeover approach from a non-incorporated U.K. entity.

Around the region, Asian markets are mainly stronger; the Hang Seng is up 2.3% whilst the Shanghai Composite is up just 0.1%.

The Nikkei remains underwater, down 0.1%.

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Midday Market Analysis: Exploding Higher is a post from: Australian Stock Report Market Pulse Blog

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Midday Market Analysis: Giving Back Gains

Midday Market Analysis: Giving Back Gains

Midday Market Analysis: Giving Back Gains

After a solid start, the Aussie market has fallen away sharply so far today.

 

The XJO traded at a high of 4074 but has since fallen away sharply to presently be trading at 4050.

 

The index is just above water, currently five points (+0.1%) ahead.

 

Despite the turnaround, most sectors are still in the green, with consumer discretionary and materials plays leading the way.

 

IT, Utilities and telcos are the worst performers.

 

In company news Santos has plummeted 6.1% after it announcing a 15.6% blowout in spending on developing the $2.5 billion GLNG project in Queensland.

Elsewhere, Caltex has climbed 1.2% after upgrading its earnings guidance for the 1H FY12. The company now expects a net profit between $185 million and 205 million, up from $113 million a year earlier.

 

Around the region, Asian markets are mixed; the Hang Seng (-0.1%) and Shanghai Composite (-0.3%) are weaker, whilst the Nikkei (+0.9%) is stronger.

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Midday Market Analysis: Giving Back Gains is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Analysis: Data Provides Boost

Morning Market Analysis: Data Provides Boost

Morning Market Analysis: Data Provides Boost

Global markets collectively rallied overnight on the back of solid US economic data, although investors remain cautious ahead of a two-day European summit.

Investors will be on the lookout for headlines from Europe ahead of a summit in Brussels scheduled for Thursday and Friday.

In Europe the FTSE 100 added 77 points (+1.4%) to settle at 5524, whilst the French CAC (+1.7%) and German DAX (+1.5%) also posted solid gains.

Stateside, the Dow Jones added 92 points (+0.7%) to settle at 12627, whilst the broader S&P (+0.9%) and tech-heavy NASDAQ (+0.7%) enjoyed similar gains.

Durable goods orders posted their first gain in three months in May, suggesting that the manufacturing sector stabilized a bit after an early spring slowdown.

Orders for items designed to last at least three years, such as airplanes and televisions, rose 1.1%, better than expectations for a 0.4% increase.

The Aussie dollar firmed overnight and is currently buying US$1.0090, whilst the euro approached the lowest level against the greenback in more than two weeks after German Chancellor Angela Merkel dimmed expectations European leaders will solve the region’s debt crisis when they meet tomorrow.

Oil rose to a one-week high on signs the US economy is recovering, easing concern that demand from the world’s biggest crude-consuming country will decline.

Crude oil for August delivery advanced 85 cents to $80.21 a barrel on the NYMEX, the highest settlement in a week.

Gold advanced for the second time in three days on speculation that China may take more steps to boost economic growth.

In company news, Metcash has announced a $325 million capital raising, the new shares will be issued at $3.46.

The funds will be used to pursue growth opportunities through acquisitions, as well as provide financial flexibility to take advantage of any future opportunities that may appear.

Today’s session will bring us data in the form of HIA new home sales (tentative).

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Morning Market Analysis: Data Provides Boost is a post from: Australian Stock Report Market Pulse Blog

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Evening Market Watch: Soft Close

Evening Market Analysis: Soft Close

Evening Market Analysis: Soft Close

Aussie shares fell today, following negative leads from international markets overnight.

The sectors closed mostly in the red, with energy, materials and industrial stocks the hardest hit.

Health care and IT stocks managed to record gains.

The big four banks were mixed on the day; ANZ (-0.2%) and NAB (-0.3%) both fell, whilst CBA (+0.3%) and Westpac (+0.1%) finished in positive territory.

The mining majors were weaker despite most commodity prices being up overnight.

BHP and Rio Tinto shed 1.4% and 1% respectively

South Boulder Mines dropped 13% after completing a $9.5 million capital raising via a share placement with North American investors.

Seven West Media plummeted 13.7% after confirming its FY12 guidance and announcing CEO David Leckie would step down from his role and will be replaced by former Woodside Petroleum CEO Don Voelte.

The ASX 200 let go of 15 points (-0.4%) to close at 4013.

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Evening Market Watch: Soft Close is a post from: Australian Stock Report Market Pulse Blog

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Midday Market Analysis: Aussie Struggling

Midday Market Analysis: Aussie Struggling

Midday Market Analysis: Aussie Struggling

The Aussie market is underwater so far today, following on from the bearish leads provided by international markets last night.

The XJO is down approximately 20 points (-0.5%), holding around 4010.

Materials, energy and industrials are the weakest links, whilst healthcare, IT and utilities stocks are the strongest performers.

Seven West Media has plummeted 9.9% after confirming its FY12 guidance and announcing CEO David Leckie would step down from his role and will be replaced by former Woodside Petroleum CEO Don Voelte.

Elsewhere, Billabong shares have jumped 9.4% after founder and largest shareholder Gordon Merchant said he is open to another takeover bid for the company.

Around the region, Asian markets are mainly weaker; the Shanghai Composite (-0.6%) and Nikkei (-0.5%) are the stragglers.

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Midday Market Analysis: Aussie Struggling is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Analysis: Eurozone Worries Persist

Morning Market Analysis: Eurozone Worries Persist

Morning Market Analysis: Eurozone Worries Persist

Global markets resumed their slump overnight, amid investors’ worries about Europe’s debt crisis which outweighed upbeat US domestic manufacturing and housing data.

Eurozone worries persist

In Europe the FTSE 100 shed 63 points (-1.1%) to settle at 5451, whilst the French CAC (-2.2%) and German DAX (-2.1%) suffered even heavier falls.

Spain made a formal request for EU aid to bail out its banks, but details about the plan, including the specific sum it would involve, remain unclear.

Stateside, the Dow Jones slumped 138 points (-1.1%) to settle at 12503, whilst the S&P (-1.6%) and NASDAQ (-2%) were even weaker.

Better-than-expected data did little to improve sentiment on Wall Street.

New single-family home sales in May grew by 7.6% from April to a seasonally adjusted annual rate of 369,000 – the highest rate in more than two years and more than economists had forecast.

The Federal Reserve Board of Dallas reported that business activity in its region jumped this month, up 5.8 after dropping 5.1 last month as the production index surged to 15.5 from 5.5.

The Aussie dollar lost ground but held above parity and is currently buying US$1.001, whilst the euro weakened before a European Union summit later this week and as Italy and Spain prepare to sell debt.

Oil fell below $80 a barrel on concern that a meeting of European Union leaders this week will fail to check the region’s debt crisis, leading to a reduction in fuel demand.

Crude for August delivery declined 55 cents to settle at $79.21 a barrel on the NYMEX. Futures are down 20% this year.

Elsewhere, copper added 0.4% whilst gold added 1.2% to settle at US$1586 an ounce.

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

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Morning Market Analysis: Eurozone Worries Persist is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Analysis: Mixed Leads

Morning Market Analysis: Mixed Leads

Morning Market Analysis: Mixed Leads

It was a mixed session for global markets on Friday night, with weakness in Europe countered by strength in the US.

In Europe, markets were mostly lower as more downbeat economic data weighed on sentiment.

June data showed Germany’s Ifo index of business confidence fell more than expected.

In London the UK’s FTSE 100 shed 53 points (-1%) to settle at 5514, whilst the French CAC (-0.8%) and German DAX (-1.3%) suffered even heavier falls.

Despite Friday night’s losses, benchmark indexes in the UK, Germany and France all rose for the third week in a row.

Stateside, the Dow Jones advanced 67 points (+0.5%) to settle at 12641, whilst the broader S&P (+0.7%) and tech-heavy NASDAQ (+1.2%) enjoyed even stronger gains.

US stocks bounced back a day after the Dow suffered its second-worst loss this year.

Bank of America, JPMorgan Chase and other big lenders posted solid gains even though many of them had their credit ratings cut the day before.

The Aussie dollar was little changed on Friday night, with the local unit holding above the 1.01 handle against the greenback.

This morning the Aussie is a touch weaker, currently buying US$1.004

The greenback rose for the first time in three weeks versus the euro as the US Fed refrained from additional asset buying while extending its maturity- extension plan, trimming bets on debasing the US currency.

Oil climbed from an eight-month low as US equities bounced after Moody’s downgrade of 15 global banks was less severe than threatened.

Oil for August delivery put on $1.56 to settle at US$79.76 a barrel on the NYMEX. Crude is down 19% year-to-date.

Elsewhere in the commodity space copper shed 0.4% whilst gold finished largely unchanged at US$1573 an ounce.

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

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Morning Market Analysis: Mixed Leads is a post from: Australian Stock Report Market Pulse Blog

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Midday Market Analysis: Bears in Control

Midday Market Analysis: Bears in Control

Midday Market Analysis: Bears in Control

The Aussie market is underwater so far today, weighed down by terrible leads from international markets last night.

 

The XJO is presently 45 points (-1.1%) in the red, with the index holding around 4045.

The losses are widespread, with nearly all sectors down; energy, materials and financials are the hardest hit.

In company news, Aquarius Platinum has plummeted 15.2% after last night announcing that it will half operations at its Everest mine in South Africa due to the mine becoming uneconomical.

Elsewhere, Integra has dropped 3.9% after announcing an increase in cash cost for the June quarter due to mechanical issues experienced at its mine.

Around the region, Asian markets are all weaker; the Hang Seng is off 1.1% whilst the Nikkei is down 0.5%

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Midday Market Analysis: Bears in Control is a post from: Australian Stock Report Market Pulse Blog

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