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

Month: September 2012

Morning Market Analysis: Green On The Screen

Global markets were collectively stronger overnight, as investors balanced stimulus measures from Japan’s central bank with lacklustre US housing data. European markets edged mostly higher, with the Stoxx Europe 600 up 0.1%, after the BOJ expanded its stimulus program.

In London the UK’s FTSE 100 added 20 points (+0.4%) to settle at 5888, whilst the French CAC (+0.5%) and German DAX (+0.6%) enjoyed similar gains. Stateside, the Dow Jones added 13 points (+0.1%) to settle at 13578, whilst the S&P (+0.1%) and NASDAQ (+0.2%) also crept higher.

U.S. housing starts rose less than economists expected in August, according to a Commerce Department report. Construction of single-family homes, which account for the majority of housing starts, rose to the highest level in more than two years. Building permits fell less than economists had projected.

Crude oil futures lost 0.6% to $94.71 a barrel, while gold futures tacked on 0.1% to $1,773.50 an ounce. The US dollar advanced against the euro and the yen. Today’s session will see the release of the latest RBA Annual Report.

We will also see the release of Chinese HSBC Flash Manufacturing PMI numbers at 12:30pm, AEST, which could have an impact on our market.

 

Morning Market Analysis: Green On The Screen is a post from: Australian Stock Report Market Pulse Blog

Posted in Uncategorized

Evening Market Analysis: Down Day

The Australian market lost ground today, despite a positive session for US and EU shares overnight. Closer to home HSBC released its preliminary data for China’s September purchasing managers index came out at 47.8, compared to 47.6 for the final score in August.

A reading below 50 indicates contraction in the manufacturing sector. The local sectors closed mostly in the red with materials and energy stocks the hardest hit. Consumer staples, property and telcos managed to record gains.

The financials were mixed, with ANZ up 0.7% and NAB ending flat. Westpac (-0.9%) and CBA (-0.7%) both closed in the red. The mining majors weighed on the market on the back of the weak Chinese data.

BHP and Rio Tinto lost 1.5% and 2.1% respectively, whilst Fortescue let go of 2.4%. Kathmandu Holdings added 0.7% despite reporting an FY12 net profit of NZ$34.85 million, a 10.8% fall on the prior corresponding period.

Elsewhere, Billabong shares plummeted 7.3% after announcing that the second bidder has withdrawn from the formal bidding process. The ASX 200 shed 21 points (-0.5%) to settle at 4397.

 

Evening Market Analysis: Down Day is a post from: Australian Stock Report Market Pulse Blog

Posted in Uncategorized

Evening Market Analysis: Solid day given the leads

Aussie shares climbed higher today, despite a mostly negative lead from international markets overnight. A clear majority of sectors finished above water with materials, healthcare and IT stocks the standout performers.

The big four banks were mainly stronger on the day, with ANZ (+0.7%), CBA (+0.1%), and Westpac (+0.6%) all closing higher. NAB (-0.1%) was the only one to close in the red. All of the big miners enjoyed healthy gains, with BHP (+0.8%) and Rio Tinto (+1%) both advancing.

Fortescue also managed to continue its move higher with a 5.4% surge. Karoon Gas rocketed 8.1% after announcing it has sold its 35% of four oil and natural gas exploration blocks offshore Brazil for US$40 million.

Macmahon Holdings plummeted 38.7% after slashing its FY13 profit guidance to between $20 million and $40 million. The ASX 200 added 24 points (+0.5%) to settle at 4418.

 

Evening Market Analysis: Solid day given the leads is a post from: Australian Stock Report Market Pulse Blog

Posted in Uncategorized

Midday Market Analysis: Strong Aussie

The Aussie market is enjoying modest gains so far today despite soft leads provided by international markets overnight. The XJO is presently up 10 points (+0.3%) a 4405.

All but one sector is the green with IT, healthcare, and utilities the strongest performers. Energy stocks are the laggards. In company news, Karoon Gas has surged 7.9% after announcing it has sold its 35% of four oil and natural gas exploration blocks offshore Brazil for US$40 million.

Elsewhere, Macmahon Holdings has plummeted 37.7% after slashing its FY13 profit guidance to between $20 million and $40 million. Around the region, Asian markets are mixed; the Hang Seng is up 0.3%, whilst the Shanghai Composite is down 0.2%.

 

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

Posted in Uncategorized

Morning Market Analysis: Flat Night

Last night’s session was fairly muted, with mild losses in Europe and a next to flat session for US markets. The Stoxx Europe 600 index declined 0.4% as Spain’s reluctance to ask for a full bailout and economic growth concerns weighed on sentiment.

Separately, data showed that German economic expectations rose in September but the increase fell short of forecasts. In London the FTSE shed 25 points (-0.4%) to settle at 5868, whilst the French CAC (-1.2%) and German DAX (-0.8%) were slightly weaker.

Stateside, the Dow Jones added just 12 points (+0.1%) to settle at 13565, whilst the S&P (-0.1%) and NASDAQ (-0.1%) were also little changed. The Dow rebounded from early losses to eke out a narrow gain, though most stocks finished lower as investors digested a downbeat earnings forecast from economic bellwether FedEx.

It was the fifth winning session in six for the Dow, with the index clawing back some of the previous session’s 40 point loss.

Crude oil prices fell 1.4% to end at $US95.29 a barrel, while gold prices inched up less than 0.1%, to settle at $US1,768.40 a troy ounce. Copper fell 0.5 US cents (-0.1%), to settle at $US3.787 a pound.

The US dollar rose against the euro and the yen. The yield on the 10-year Treasury note fell to 1.808 per cent. Today’s session will bring us the Melbourne Institute leading index, at 10:30am, AEST.

 

Morning Market Analysis: Flat Night is a post from: Australian Stock Report Market Pulse Blog

Posted in Uncategorized

Evening Market Update: Soft Close

The Australian market lost ground today, following a negative session on EU and US markets overnight. A clear majority of the sectors finished in negative territory with IT and property the hardest hit.

Healthcare, telcos and utilities stocks were segments which managed decent gains. The big four banks finished mixed; NAB added 0.3%, Westpac lost 0.3% while CBA and ANZ both closed flat.

The mining majors were weaker after commodity prices pulled back in the overnight session. BHP and Rio Tinto dropped 0.6% and 0.4% respectively.

Fortescue surged 17.1% after the group struck a deal to refinance all of its existing bank facilities in order to provide it with additional liquidity and stave off looming debt repayments.

Also in the materials space, New Hope Corporation soared 8.9% after reporting an underlying net profit of $171.1 million, a 16% rise on the previous corresponding period.

The ASX 200 shed eight points (-0.2%) to close at 4395.

 

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

Posted in Uncategorized

Morning Market Update: Topping out

Global markets pulled back a touch overnight as the bulls took a breather after their recent strong run higher. European markets lost ground, with the Stoxx Europe 600 down 0.3% after reaching a 15-month high on Friday, after a Eurogroup meeting failed to produce any clear results.

In London the UK market shed 22 points (-0.4%) to settle at 5894, whilst the French CAC (-0.8%) and German DAX (-0.1%) also lost ground. The region’s finance ministers remained divided over the issue of a banking union and over the timing of the implementation of banking reform.

Stateside, the Dow Jones finished 40 points (-0.3%) weaker, at 13553, whilst the S&P (-0.3%) and NASDAQ (-0.2%) suffered similar declines. It was the first losing session in five for US markets, with weakness in Europe and China and continued violent protests in the Middle East leaving investors on edge.

The yen weakened to four-month low versus the euro as investors speculated the Bank of Japan will expand monetary easing at its meeting this week.

Oil declined more than $3 in less than a minute as October options were about to expire, ending the day with the largest drop in eight weeks. Oil for October delivery fell $2.38 (-2.4%), to settle at $96.62 a barrel on the NYMEX. Prices are down 2.2%. The decline was the largest since July 23.

Today’s session will bring us the latest monetary policy meeting minutes, at 11:30am, AEST.

 

Morning Market Update: Topping out is a post from: Australian Stock Report Market Pulse Blog

Posted in Uncategorized

Midday Market Analysis: Treading Water

Midday Market Analysis: Treading Water

Midday Market Analysis: Treading Water

The Aussie market is enjoying very modest gains today on the back of the positive leads provided by international markets on Friday night.

The XJO is presently five points stronger, holding around 4395.

Most sectors are underwater despite the XJO being in the green, with materials and financials the best performers.

Conversely, healthcare, utilities and IT are the weakest links.

In company news, Leighton Holdings has jumped 5.8% helped by the announcement that its troubled desalination plant in Victoria had started large-scale production.

Conversely, Northern Iron has dropped 6.9% after announcing that it has suspended exploration and deferred nonessential capital expenditure in an effort to fight being squeezed by lower iron ore prices.

In economic news, sales of new motor vehicles jumped by the most in five months in August to reach their highest on record.

Figures out this morning show new vehicle sales rose by a seasonally adjusted 3.6% in August to 93,379, following a revised 1.1% decline in July. Sales were up 6.4% compared with August last year.

Around the region, Asian markets are mixed; the Shanghai Composite (-1.3%) and Hang Seng (-0.1%) are weaker, whilst the NZ50 is up 0.9%.

Click to Receive FREE Daily Trading Recommendations!

Midday Market Analysis: Treading Water is a post from: Australian Stock Report Market Pulse Blog

Posted in Uncategorized

Morning Market Analysis: Bull Extends Gains

Morning Market Analysis: Bull Extends Gains

Morning Market Analysis: Bull Extends Gains

International leaderboards were lit up with green ink on Friday night, with all the major indices around the globe recording gains as investors continued to cheer the Fed’s latest quantitative easing program.

European markets were broadly higher, catching up to the Fed’s announcement, unveiled after Europe’s Thursday close. The Stoxx Europe 600 climbed 1.3% and closed at a 15-month high.

The FTSE added 96 points (+1.6%) to settle at 5916, whilst the French CAC (+2.3%) and German DAX (+1.4%) also enjoyed strong gains.

Stateside, the Dow Jones put on 54 point (+0.4%) to settle at 13593, whilst the broader S&P added 0.8% and the tech-heavy NASDAQ firmed 0.8%.

The US session was heavy with data on economic and business conditions.

Retail sales for August rose 0.9% on the month, matching the median estimate of economists in a Dow Jones Newswires poll. Excluding auto sales, retail sales rose 0.8%, just shy of forecasts.

Industrial production fell 1.2% in August, according to a Federal Reserve report, sharply more than economists expected.

Capacity utilization dropped to 78.2% last month from a downwardly revised 79.2% in July, also a bigger-than-forecast decline.

The Consumer Price Index for August increased 0.6%, which matched forecasts but was the largest one-month increase in the measure of inflation since June 2009. Rising gasoline prices accounted for most of the gain.

Core CPI, which excludes food and energy, rose 0.1% versus a 0.2% estimate.

Business inventories rose twice as much as economists expected in July, the biggest increase since January, the Commerce Department reported.

Crude oil rose 0.8% to $99.05 a barrel, while gold prices ticked up 0.1% to $1,774.30 an ounce.

The US dollar dropped against the euro to a five-month low but rose against the yen.

Today’s session will bring us data in the form of new motor vehicle sales, 11:30am, AEST.

Click to Receive FREE Daily Trading Recommendations!

Morning Market Analysis: Bull Extends Gains is a post from: Australian Stock Report Market Pulse Blog

Posted in Uncategorized

Midday Market Analysis: Bulls enjoying good day

Morning Market Analysis: Quiet Night Ahead Of FedThe Aussie bulls are enjoying a day in the sun today, running with the strong leads provided by US markets overnight.

The XJO is presently 50 points (+1.1%) in the green, holding at 4390.

The clear majority of sectors are in the green, with materials, energy, and industrials the strongest performers, whilst healthcare and telcos are the weakest links.

In company news, Leighton’s is up 2.5% after it announced that its subsidiary Thiess won a $154 million contract to build a pedestrian link in Sydney.

Elsewhere, Fortescue is in a trading halt after reports that it had requested a 12-month waiver on its debt covenants sent its share price plunging yesterday.

Around the region, Asian markets are all trading higher; the Hang Seng (+2.4%) and Nikkei (+1.5%) are amongst the best performers.

Midday Market Analysis: Bulls enjoying good day is a post from: Australian Stock Report Market Pulse Blog

Posted in Uncategorized