Australian Shares

4

Trading Day

The S&P/ASX 200 fell again today, down 66 points or 1.6% to 4075 points. In after hours trading, the market is up slightly to 4100 points waiting (dreading?) the European market open and a probably gap down when the US re-opens after the long weekend. Asian markets experienced similar losses, with the Nikkei 225 losing

55

The risks swelling around gas

Australia’s energy sector, or at least LPG and CSG sectors, is not yet creating the impact of iron ore or coal, and in some ways represents more a play on the future than either of the aforementioned commodities. But there is also likely to be a growing polticisation with these industries, if only because of their

7

Seek, and you will find debt

Seek (SEK) released its 2011 results recently.  At Empire Seek has been one of our favourite stocks – a near-wonderful business with good ROE, great branding, total dominance in the Australian and NZ online employment market with a strategy for diversifying revenues through international acquisitions.  Only through lack of a deep competitive moat did it

12

Trading Day

The S&P/ASX 200 slumped over 2% down today, after absorbing Friday’s US job data. The index is down 101 points or 2.4% to 4141 points. In after hours trading, the market is at 4130 points waiting for the European market whilst the US has a day off today. Asian markets experienced similar losses, with the

2

Trading Day

The S&P/ASX 200 closed sharply down today, after yesterday’s poor performance and reaction to overnight markets. The index is down 65 points or 1.5% to 4242 points. In after hours trading, the market is at 4230 points as we wait for US employment figures early Saturday morning (AEST). Asian markets experienced similar losses, with the

11

Trading Day

The S&P/ASX 200 just closed in positive territory today, after a strong morning session. The index is up 11 points or 0.3% to 4307 points. In after hours trading, the market is slightly below 4300 points. Asian markets experienced stronger gains, following EU/US risk markets, with the Nikkei 225 closing up 1.1% at 9060 points

3

Trading Day

The S&P/ASX 200 closed in positive territory today, with strong bids before the close after a mixed session in the morning. The index is up 27 points or 0.6% to 4296 points. In after hours trading, the market is slightly above 4300 points. Asian markets experienced similar gains, with the Nikkei 225 closing steady at

0

Trading Day

The S&P/ASX 200 closed steady today, up only 6 points or 0.1% to 4269 after rallying in the morning to over 4300 points. Asian markets experienced more positive gains, with the Nikkei 225 closing 1.1% higher at 8953 points on the back of bad employment and retail sales numbers whilst the Hang Seng closed up

1

Marginal rubbish

  Reporting season has come in at around expectations, which, it might be added, were not terribly high (outside resources). The question of course is what comes next, and that will heavily depend on what happens in developed economies and China. Deutsche Bank is casting doubt on the expectations of margin growth, which is going in

3

Woolies versus Coles

Woolworths released their FY11 results last Thursday.  The analysts presentation headlined with a 5.1% NPAT increase, which was at the lower end of the 5-8% range given in the last earnings guidance, which was in turn below the 8-10% growth forecast at the start of the year.  As such, the share market reaction was harsh

0

Trading Day

The S&P/ASX 200 closed up strongly today, 63 points or 1.5% to 4263 points. Asian markets experienced similar gains, with the Nikkei 225 closing 0.61% higher at 8851 points, and the Hang Seng up 1.57% at 19891 points. In other risk assets, the AUD increased further and is now above 1.06 against the USD, whilst

7

Optimism won’t save you

The stock broking data train is rolling on, and analysts are mostly hedging their bets, not too keen to be bearish because the predictions do not look too bad. Macquarie states the obvious, that outlooks are all that matters. But by stating it, it does imply that the prospects are not as rosy as they

0

Trading Day

The S&P/ASX 200 closed slightly lower today, down 12 points or 0.3% to exactly 4200 points, recovering most of this week’s losses. Asian markets experienced similar caution, with the Nikkei 225 closing 0.29% higher at 8797 points, and the Hang Seng down 0.16% at 19720 points. In other risk assets, the AUD increased a little

5

Trading Day

The S&P/ASX 200 closed higher today, up 45.2 points or 1.07% at 4212 points, recovering most of this week’s losses. Asian markets experienced similar gains, with the Nikkei 225 closing 1.5% higher at 8772 points, and the Hang Seng up 1.33% at 19724 points. In other risk assets, the AUD remained steady against the USD

11

CBA trumps BofA

An interesting statistic from Bell Potter this morning. Bank of America, the bank that takes in a quarter of America’s deposits is worth less than Commonwealth Bank of Australia. Even adjusting for various factors, such as the obvious stress in the US banking system, which has not happened in Australia, the part nationalisation and the

1

Trading Day

The S&P/ASX 200 closed slightly down today after a strong rally in the morning, to finish 5 points down at 4167. Asian markets experienced larger losses, with the Nikkei 225 closing down 1% at 8639 points, and the Hang Seng down 1.3% at 19619 points. In other risk assets, the AUD bounced back against the

18

Bears proliferate

The reporting season is starting to reveal a pretty gloomy story. The cheery assertions that everything is fine in Australia because of high employment levels is about to get a caning. The Australian economy has had some protection from the travails of the developed economies because of the resources boom, but the full impact of

13

Sharemarket to face boomer headwinds

The Federal Reserve Bank of San Francisco (FRBSF) yesterday released an interesting report (below) arguing that the US sharemarket will face considerable headwinds over coming decades as the retiring baby boomer generation shifts from buying stocks to selling equities to fund their retirement (h/t Bernard Hickey). According to the report, a key reason why the

2

Trading Day

The S&P/ASX 200 rallied strongly today alongside other risk assets, closing up 91 points or 2.18% to 4173 points. Asian markets experienced gains, with the Nikkei 225 closing up 1.22% at 8733 points, and the Hang Seng up 1.3% at 19740 points. In other risk assets, the AUD bounced back against the USD, now at

36

Panic is normal?

At MB, one our key reasons for being is to expose ‘the spruik’ wherever we find it. Many of the bloggers at the site have very successfully done so for the perma-bullish housing brigade that used to dominate the national media. No doubt readers have noticed the insistent call to “buy” shares over the past

6

Equity Spotlight – Infomedia Ltd (IFM)

Following on from Monday’s post on high-yield dividend stocks, today we take a quick look at Infomedia Ltd (IFM). Note: I haven’t done my usual job of thoroughly examining the last 5 years of financial data (time constraints of my full-time job), so I’ll be relying on equity, NPAT and assets figures from a proprietary,

2

Trading Day

The S&P/ASX 200 climbed through midday before wiping out all gains and then some, closing today down 19 points or 0.486% to 4082 points. Asian markets experienced broader losses, with the Nikkei 225 closing down 1.04% at 8628 points, and the Hang Seng down 1.37% at 19133 points. In other risk assets, the AUD slipped

0

Shareholder confidence falls

It’s a slow data day today so for something a bit different here is the Global Proxy/Melbourne Institute Shareholder Confidence Survey for August. It doesn’t take Einstein to figure out that sentiment is falling but I guess some attempt to measure how far and fast is welcome. Doing so quarterly, however, isn’t terribly useful. GPS

27

Politics and markets collide

Political economy, once considered an interesting academic aside, is now front and centre in investment thinking. Decades of ideology masquerading as economic truism have resulted in the predictable polarisation of wealth, and that is now starting to become an unavoidable fact in anticipating the direction of markets. Even the investment bank Morgan Stanley is starting

14

Dividend hugging in harsh times

Throughout Friday, the azure blue sky above Brisbane was marred by the criss-cross pattern of contrails, as investors panicked and took the first flights to safety they could find.  Gold was a popular holiday spot, whilst Equityville and Commodity City were deserted come close of business. And really, who can blame them?  This graph shows

1

Trading Day

The S&P/ASX 200 closed today down 52 points or 1.26% to 4251 points. Asian markets experienced similar lossess, with the Nikkei 225 closing down 1.25% at 8943 points, and the Hang Seng down 0.5% at 20184 points. Other risk assets are mixed, with the AUD slipping against the USD, now at $1.0502, WTI crude down

19

Margin deleveraging

The RBA released the quarterly Margin Lending – D10 data tables today (XLS table), and its not a pretty picture for the Australian stock market. One of the key factors in a new bull market in stocks, just like property, is a propensity for investors to borrow more on expectation of higher earnings – alongside

15

Fly, be free

Qantas’ move to develop more of a regional strategy is something worth watching. Although we are in the Asian region, and heavily export to Asia, very few big Australian companies have developed strategies into the region. One that did, AMP (Axa Asia Pacific), just sold off the juicy Asian operations and concentrated on developing its

2

Trading Day

The S&P/ASX 200 closed today up 56 points or 1.33% to 4303 points. Asian markets experienced mixed results, with the Nikkei 225 closing down 0.5% at 9057 points, and the Hang Seng closing up 0.93% at 20400 points. Other risk assets are mixed, with the AUD slipping against the USD, now at $1.0468, WTI crude

0

Use it or lose it

The “volatility” in the market — for which read, “what the hell is going on”? — is pushing brokers inexorably in the direction of dividends and capital management. If you can’t pick the direction of the capital gain, go to the income or the capital tricks. After the odd $100 billion GFC capital raising on