Australian Shares

9

Earnings Update: TLS, DMP, AWC, AQP

Five companies reported earnings yesterday on the ASX: Dominoes (DMP) Alumina (AWC), Aquarius Platinum (AQP), Telstra (TLS) and an update from Singapore Telecom (SGT). Further, we saw sales updates from retailers David Jones (DJS) and Harvey Norman (HVN). David Jones announced a 10% drop in sales in the fourth quarter, with a full year drop

8

Trading Day

The S&P/ASX 200 jumped on the open on overnight rallies in the US and Europe and is up 56 points or 1.35% at 4197 points. Other Asian markets are experiencing a mix of gains, with the Nikkei 225 up 0.17% at 8997 points, and the Hang Seng up 1.5% at 19896 points. Other risk assets

18

Thoughts on volatility

Markets are nothing if not volatile at the moment as last nights price action again showed. From the low yesterday after the employment number the AUD has rallied 230 pips to sit at 1.0336 as I write. The Dow finished up 423 points or 3.95% and equities and so-called risk assets generally had a much

9

You go, we algo

The reporting season is in full swing, but the extreme gyrations of the market make it hardly seem to matter. What we may be witnessing is the amplification effect of algorithmic trading, which is likely to occur when anxiety increases and fewer buyers are available. This is of course impossible to know with certainty —

7

Trading Day

The S&P/ASX 200 slumped on the open, but then strongly recovered as the unemployment figures were released but is still down 20 points of 0.5% from yesterday, at 4120 points. Other Asian markets are experiencing ructions, with the Nikkei 225 down 1.2% at 8922 points, and the Hang Seng down 0.5% at 19687 points. Other

0

Earnings Update: CBA, CPU, FXL, SGP

Four companies reported earnings today on the ASX: Flexigroup (FXL), Commonwealth Bank (CBA), Computershare (CPU) and Stockland (SGP). Macrobusiness will be reporting on earnings and valuing the key companies throughout the earnings season. Remember to bookmark the overall update here. Flexigroup (FXL) Flexigroup, a point-of-sale lease/rental finance company, announced a 27% increase in net profit

21

Trading Day

The S&P/ASX 200 jumped again on the open, and is now up over 124 points or 3% at 4158 points. Other Asian markets are experiencing similar big gains, with the Nikkei 225 up 1.15% at 9047 points, and the Hang Seng up further, up 3.3% at 19935 points. Other risk assets are mixed, with the

70

This time it’s different

The ideological assault of the market worshipers on government is starting to have its inevitable result — extreme market uncertainty. In a system of rules, which is what a financial system is, endless denigration of the rule setters (governors and regulators) because of alleged incompetence or wicked constraint on basic liberties will always result in

4

Earnings Update: Dutch disease hits Coke

Five companies reported earnings yesterday on the ASX: Reckon (RKN), Bradken (BKN), Cochlear (COH), Coca-Cola Amatil (CCL) and an update from National Australia Bank (NAB). Macrobusiness will be reporting on earnings and valuing the key companies throughout the earnings season. Remember to bookmark the overall update here. Reckon (RKN) The accounting software company posted its

22

Trading Day

The S&P/ASX 200 slumped again on the open, after absorbing one of Wall Streets biggest one day falls in history. The market is down over 168 points or 4.4% and stands at 3817 points. Other Asian markets are experiencing similar sharp losses, with the Nikkei 225 down 4.5% at 8692 points, and the Hang Seng

12

JB Hi Fi earnings update

JB Hi Fi released its FY11 result yesterday.  Given the shellacking retail has been taking in recent months, and the ongoing market ructions, we have been eagerly awaiting the results of our favourite retail stock. Sales Revenue increased 8.5% to just under $2.9 billion.  Consumer electronic sales (which represent 75% of total sales) grew by

4

Earnings Update: JB Hi-Fi and Bendigo

Two companies reported earnings yesterday on the ASX: JB Hi-Fi (JBH) and Bendigo and Adelaide Bank (BEN). Macrobusiness will be reporting on earnings and valuing the key companies throughout the earnings season. Remember to bookmark the overall update here. JB Hi-Fi (JBH) JBH reported a profit of $134.4 million in the 12 months ended 30

24

Where’s the bottom?

So, where is the bottom? To begin to fathom an answer, me must first understand why markets are falling. Last night’s action offers some clues. Although there is plenty of press blaming the US downgrade, it is far more than that. For starters, the downgrade has seemingly done nothing to the attractiveness of Treasuries as

35

Head and shoulders horror

I know we’ve had a bad day on the sharemarket and I’m no doubt doing a bit of data mining as a result. But I’ve noticed a rather nasty sequence of head and shoulders patterns forming on the S&P500. First, the 1 year chart: That’s a beauty isn’t it? We reported it last week and

6

Buy, sell, buy!

Brokers are predictably divided over the ructions in the market. In theory the declines should add up to some buying opportunities, but bear markets, and that is surely what it now is, are notoriously hard to pick. The big question in this a cycle — i.e. is there enough that constitutes a reliable centre around

8

Trading Day

The S&P/ASX 200 slumped on the open, after absorbing the S&P downgrade over the weekend, then recovered somewhat but has now rolled over again after lunch. The market is down over 73 points or nearly 2% and stands at 4031 points. Other Asian markets are experiencing similar sharp losses, with the Nikkei 225 down 1.3%

10

The Great Volatility

The S&P/ASX200 has slid 12% in four weeks with similar falls across major developed markets as the Western crisis has gathered pace in the past month. Apart from the usual and vapid insistence to buy any and all stocks now because they are “cheap”, some commentators have said that ”buy and hold” is dead and

0

Earnings Update: Resmed

Only one company reported earnings today on the ASX: Resmed (RMD). Macrobusiness will be reporting on earnings and valuing the key companies throughout the earnings season. Remember to bookmark the overall update here. Resmed(RMD) Resmed, a manufacturer and marketer of respiratory disorder products, announced year end revenue of US$1.2 billion, a 14% increase, resulting in

11

Trading Day

The S&P/ASX 200 slumped on the open, down over 160 points or nearly 4% and is now at 4115 points. Other Asian markets are experiencing similar sharp losses, with the Nikkei 225 down 3.5% at 9319 points, and the Hang Seng falling further, down 4.5% at 20895 points. Other risk assets are getting walloped, with

6

Earnings Update: RIO, TCL, ERA

Three companies reported earnings today on the ASX: Rio Tinto (RIO), Transurban (TCL) and Energy Resources Australia (ERA). Macrobusiness will be reporting on earnings and valuing the key companies throughout the earnings season. Remember to bookmark the overall update here. Energy Resources of Australia (ERA) ERA reported a loss of $121.7 million in the six

10

Trading Day: QE reprieve?

The S&P/ASX 200 is down slightly after midday, 16 points or 0.3% at 4316, after digesting European market plunges and US market shenanigans overnight. Other Asian markets are experiencing gains, with the Nikkei 225 up 0.97% at 9724 points, and the Hang Seng steady at 22026 points. Other risk assets are generally down, with the

11

Cost cutting is not a strategy

It’s going to be tough out there for Australian companies not in the mining sector. A Macquarie report shows that companies are battening down the hatches as they are faced with higher costs and weaker demand. While this is hardly a surprise finding in an economy, ex-mining, that is close to recession it is clear

3

Mining takes the money (all of it)

The lack of new capital raising in the Australian market is highlighted in a story in the Financial Review today. It is hardly surprising. According to Deutsche Bank, the ASX200’s performance between June 2009 and June 2011 is: 91%, relative to Europe, 84% relative to Asia ex-Japan and 80% relative to the US. That underperformance has

7

Trading Day: bath of blood

The S&P/ASX 200 crashed on the open and is down over 2% at midday, or a total of 96 points at 4337, wiping out 12 months worth of gains, and back down to the pre-QE2 low of August 2010. Other Asian markets are experiencing similar losses, with the Nikkei 225 down 2.17% at 9631 points,

5

Chart of the day: S&P head and shoulders top

The US S&P500 fell over 2.5% last night – a harbinger of further falls. Today’s chart shows that a head and shoulders formation has been completed, with the neckline at 1250 points (the orange line) and below the 200 day moving average. If the S&P500 closes the week below the neck line, the US stock

9

Trading Day: can’t get no relief

The S&P/ASX 200 slumped on the open and is down over 1% after midday, waiting for the princes at Martin Place to maker their decision. The market is down a total of 58 points or 1.32% at 4439, wiping out most of yesterdays stellar gains. Other Asian markets are experiencing similar losses, with the Nikkei

10

Equities Spotlight: Better (not) buy Bega

Bega – that well-known Australian food brand with the cheesy jingle – is launching an IPO, issuing 17.5 million shares at $2.00 a pop to raise $35 million.  They’ll also issue 850,000 shares to Bega employees at no cost as part of the float. One of the first things I read in the prospectus was

12

Trading Day: relief rally

The S&P/ASX 200 jumped on the open and is up over 2% after midday, due to the “resolution” of the US debt crisis announced this morning. The market is up a total of 90 points or 2% at 4514. Other Asian markets are experiencing similar gains, with the Nikkei 225 up 1.87% at 10013 points,

20

Market Earnings Season

The full year earnings season for listed companies on the ASX is upon us. MacroBusiness will endeavour to report earnings and surprises on the relevant ASX200 stocks, particularly the banks, retail/discretionary and resource companies as they come through over the next month or so. This post will be updated continously with links to the announcements,

19

CBA’s online retail report

  CBA have released an excellent piece of research this morning that helps demystify foreign online spending by Australian consumers. The research is drawn from the bank’s credit card and merchant businesses. It’s a must read this one. Full report below. A million customers can’t be wrong There has been a dearth of reliable data