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

Month: September 2012

Evening Market Analysis: Soft End To Soft Week

The SPI pushed higher in the afternoon session but ultimately could not surpass the 4400 round number.

Heading into tonight’s session the bias for the index remains bullish but we would not be trading. Those with orders in the system from this morning should cancel them.

If 4400 is surpassed tonight, then we’ll likely look at being buyers come Monday morning. Until then, have a great weekend and may your team have a win.

 

Evening Market Analysis: Soft End To Soft Week is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Analysis: Bulls Bouncing Back

Global markets bounced overnight, with gains seen on both sides of the pond. Hopes the Chinese government would take steps to bolster the giant Asian economy overshadowed a mixed bag of US data.

In London the FTSE 100 added 11 points (+0.2%) to settle at 5779, whilst the CAC (+0.7%) and DAX (+0.2%) also gained ground. Stateside, the Dow Jones added 72 points (+0.5%) to settle at 13486, whilst the S&P (+1%) and NASDAQ (+1.4%) enjoyed even stronger gains.

Initial jobless claims dropped by 23,000 to 359,000, significantly more than the 4,000 drop that had been expected. The final read on second-quarter gross domestic product showed growth of 1.3%, weaker than an expected 1.7%.

August durable goods tumbled 13.2%, much more than the 5% drop expected. Pending home sales fell 2.6% in August, compared with expectations for flat growth, due to a shortage of lower-priced inventory in most of the country.

The euro strengthened against the US dollar after Spain announced its fifth austerity package, adding to speculation that it will meet the requirements for a European financial bailout to contain its debt crisis.

Gold climbed to a record priced in euros and Swiss francs on concern that central banks’ moves to boost economies will devalue currencies, spurring demand for the metal as an alternative investment.

Oil advanced the most in eight weeks on the possibility China’s government will bolster stimulus efforts and as Spain approved a 2013 austerity budget.

Crude oil for November delivery rose $1.87 to settle at $91.85 a barrel on the NYMEX, the biggest gain since 3 August. Today’s session will bring us data in the form of private sector credit, at 11:30am, AEST.

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Morning Market Analysis: Bulls Bouncing Back is a post from: Australian Stock Report Market Pulse Blog

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Midday Market Analysis: Holding Up

The Aussie market is presently little changed, with the XJO bouncing back from early morning weakness and holding up quite well in the face of bearish leads.

The index is currently holding around 4360. The sectors are evenly balanced between winners and losers, with the telco, healthcare, and industrial segments leading the gains.

Conversely, consumer discretionary, energy and consumer staples are the weakest links. In company news, Woolworths has offloaded electronics chain Dick Smith to private equity group Anchorage Capital Partners for a bargain price of $20 million, ending an eight-month search for a buyer.

Around the region, Asian markets are mainly stronger; the Hang Seng is up 0.5% whilst the Nikkei is flat.

 

Midday Market Analysis: Holding Up is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Analysis: Bears Dig In

Global markets lost ground overnight, as investors were spooked by euro zone instability and a slightly disappointing report on the U.S. housing market.

In London the FTSE 100 shed 92 points (-1.6%) to settle at 5768, whilst the CAC (-2.8%) and DAX (-2%) suffered even heavier falls. Stateside, the Dow Jones gave up 44 points (-0.3%) to settle at 13414, whilst the S&P (-0.6%) and NASDAQ (-0.8%) also lost ground.

Sales of new homes declined slightly in August, after economists had expected an increase. The Commerce Department reported that new-home sales fell 0.3% from the previous month to a seasonally adjusted annual rate of 373,000.

At the same time, though, the median price for a new home increased 17% from August 2011, reaching a level not seen since March 2007. Front month crude oil futures dropped 1.5% to settle at $89.98 a barrel, while October gold futures fell 0.7% to $1,754.40 an ounce.

The US dollar rose against the euro, but lost ground against the yen. Yields on benchmark 10-year Treasury bonds fell to 1.616%. There is no major local data due out for today’s session.

 

Morning Market Analysis: Bears Dig In is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Analysis: Europe Up US Down

It was a tale of two halves overnight, with gains in Europe scuppered by losses in the US. In London the FTSE 100 added 21 points (+0.4%) to settle at 5860, whilst the French CAC (+0.5%) and German DAX (+0.2%) also recorded gains.

Stateside, the Dow Jones shed 101 points (-0.8%) to settle at 13458, whilst the S&P (-1.1%) and NASDAQ (-1.4%) suffered heavier falls.

It was the worst sell-off on the Street in three months after a Federal Reserve official said he doubted the bank’s effort to boost economic growth would work.

Charles Plosser, president of the Fed’s Philadelphia branch, told an audience that the Fed’s effort to support the economy would likely fall short of its goals.

Three economic reports gave the stock market a boost however.

US house prices rose in major cities for a third straight month, and a gauge of consumer confidence came in surprisingly high.

More surprising than those two economic reports was the Richmond Federal Reserve’s strong reading on regional manufacturing, a recent trouble spot.

The US dollar rose to an almost two- week high against the euro as a Federal Reserve official’s comment the central bank actions won’t boost economic growth outweighed better-than-forecast data on home prices and consumer confidence.

Oil fell to a seven-week low on Plosser’s comments. Crude oil for November delivery dropped 56 cents to $91.37 a barrel on the NYMEX, the lowest settlement since 2 August.  Crude is down 7.5% this year.

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

 

Morning Market Analysis: Europe Up US Down is a post from: Australian Stock Report Market Pulse Blog

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Evening Market Analysis: Miners Weigh

Aussie shares started the trading week in negative territory, despite a mixed night on international markets on Friday. At home a majority of sectors finished in the red, with energy and materials clearly the hardest hit.

The defensive segments of the market held up reasonably well, with staples and healthcare both recording gains. The big four banks were mixed; NAB was the best performer adding 0.4%, whilst ANZ was the weakest link closing down 0.6%.

The major miners closed lower as commodities opened the new week in the red. BHP and Rio Tinto lost 0.9% and 2.4% respectively. NWH dropped 3.9% after BHP announced it will axe part of its $120 million contract at Port Headland.

Elsewhere, Nufarm fell 1.4% despite reporting an FY12 net profit after tax of $72.6 million a massive swing from net loss of $49.9 million it posted in FY11.

The ASX 200 let go of 23 points (-0.5%) to settle at 4386.

 

Evening Market Analysis: Miners Weigh is a post from: Australian Stock Report Market Pulse Blog

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Midday Market Analysis: Soft Start To New Week

The Aussie market is firmly underwater today, with local stocks being sold off early in the new trading week.

The XJO is presently down 30 points (-0.6%), at 4380.

Most sectors are weaker, with materials, energy and consumer discretionary stocks the weakest links.

In company news, NWH has dropped 4.5% after BHP announced it will axe part of its $120 million contract at Port Headland.

Elsewhere, Nufarm is down 1.7% despite reporting an FY12 net profit after tax of $72.6 million a massive swing from net loss of $49.9 million it posted in FY11.

Around the region, Asian markets are all weaker; the Shanghai Composite is down 0.9%, whilst the Nikkei is down 0.7%.

 

Midday Market Analysis: Soft Start To New Week is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Analysis: Neutral Into New Week

Global markets were mixed and non-committal on Friday night, with gains in Europe countered by weakness in the US.

European markets were broadly higher, with the Stoxx Europe 600 up 0.5% after a report that the European Commission and Spain are working to ensure structural overhauls required for a bailout are in place before the government asks for help.

The FTSE 100 shed two points in London, to settle at 5853, whilst the French CAC (+0.6%) and German DAX (+0.8%) fared much better. Stateside, the Dow Jones gave up 17 points (-0.1%) to settle at 13579, whilst the S&P was flat and the NASDAQ added 0.1%.

US stocks edged lower late in the session, causing the Dow to suffer its first weekly loss in three weeks. For the week, the Dow gave up 0.1% while the S&P 500 fell 0.4%. Earlier this month, stocks had rallied as the European Central Bank and Federal Reserve announced bond-buying programs meant to jolt economic growth.

Crude oil prices rose 0.5%, to settle at $92.89 a barrel, after falling 7.2% over the previous four sessions. Gold prices edged up 0.4%, to settle at $1,775.50 an ounce. The US dollar inched lower against both the euro and yen. The yield on the 10-year Treasury note declined to 1.760%.

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

 

Morning Market Analysis: Neutral Into New Week is a post from: Australian Stock Report Market Pulse Blog

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Evening Market Analysis: Modest Close To Modest Week

Aussie share finished the week on a positive note, despite the negative lead provided by international shares overnight. All the sectors except for materials and healthcare finished above water, with utilities clearly the best performing segment.

The big four banks were mostly stronger, with ANZ (+0.4%), CBA (+0.3%) and Westpac (+1.4%) all closing higher. NAB (-0.5%) was the only one of the group to lose ground.

The mining majors were mostly weaker following the poor night on commodity markets; Rio Tinto lost 0.4% whilst BHP was flat.

Newcrest mining dropped 3% after announcing that production at its Lihir operation in Papua New Guinea has been temporarily reduced to about 25% of capacity following a problem with its electrical system.

Elsewhere, Premier Investments jumped 8.1% after announcing a net profit of $68.2 million, a 68% rise on the prior corresponding period. The ASX 200 added 16 points (+0.4%) to settle at 4408.

For the week the market jumped 0.4%.

 

Evening Market Analysis: Modest Close To Modest Week is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Analysis: Quiet Session Ahead

It was fairly quiet, non-committal session for global markets overnight with none of the major indices moving much more than half a percent, as weak economic data put the global rally on hold. European markets slipped, with the Stoxx Europe 600 down 0.1%.

In London the FTSE shed 34 points (-0.6%) to settle at 5855, whilst the French CAC (-0.6%) and German DAX (-0.1%) were also weaker. Stateside, the Dow Jones put on 19 points (+0.1%), whilst the broader S&P (-0.1%) and NASDAQ (-0.2%) didn’t fare quite so well.

US stocks fell, as China posted weak economic data and U.S. jobless claims were higher than expected. The Dow turned positive after statements supporting recent US central-bank action from three regional Fed bank presidents, a better-than-expected business activity reading from the Federal Reserve Bank of Philadelphia and a successful Spanish bond auction.

Crude oil fell 0.1%, to settle at $91.87 a barrel, while gold prices lost 0.1%, to settle at $1,767.70 an ounce. The US dollar gained against the euro but fell against the yen. The yield on the 10-year Treasury note fell to 1.778%.

Today’s session will bring us the CB leading index, at 10:00, AEST.

 

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

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