Australian Shares

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Macro Investor: Macquarie short

By Chris Becker Macquarie Group (MQG) – the Silver Donut – the Millionaires Factory – whatever you want to call it, is the the best risk proxy to announce if the ASX200 is having a bull market or not: Today the Donut Factory announced that its securities unit will likely post a second consecutive yearly

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ASX Shares Daily – 24th June

    By Chris Becker These daily updates need to be placed in context with the longer trends and drivers amidst the overall technical picture, so head to Macro Investor for a free trial. Former “Trading Week” readers will find it reborn as “Technicals“, published 8.30am each Monday morning. Markets around Asia wobbled around today after yesterday’s

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Macro Investor: The five most undervalued stocks on the ASX

Buy low and sell high. That’s the stock-picker’s guide to success. But is it that simple? Just because something is undervalued doesn’t mean it’s worth owning, sometimes to the contrary. At Macro Investor we spend a lot of time stocks identifying stocks that are undervalued, not just right now but also their future valuations. But that’s

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ASX Shares Daily – 23rd July

      By Chris Becker These daily updates need to be placed in context with the longer trends and drivers amidst the overall technical picture, so head to Macro Investor for a free trial. Former “Trading Week” readers will find it reborn as “Technicals“, published 8.30am each Monday morning. Its definitely not rabbit season – its unicorn hunting

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Sydney Airport coming in to land

The Sydney Airport share price has comfortably outperformed the ASX 100 since third quarter 09, despite its sharp drop in the price earlier this year. The company has released its June traffic results. Domestic traffic was up 4% on pcp (ytd -0.2%), while international traffic was up 10.6% (ytd +5.3). Brokers are cautiously re-entering the fray, although sentiment

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ASX Shares Daily – 20th July

    By Chris Becker These daily updates need to be placed in context with the longer trends and drivers amidst the overall technical picture, so head to Macro Investor for a free trial. Former “Trading Week” readers will find it reborn as “Technicals“, published 8.30am each Monday morning. Well its been one of those weeks. Of

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ASX Shares Daily – 18th July

    By Chris Becker These daily updates need to be placed in context with the longer trends and drivers amidst the overall technical picture, so head to Macro Investor for a free trial. Former “Trading Week” readers will find it reborn as “Technicals“, published 8.30am each Monday morning. Well that didn’t go according to plan –

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Analysts rally to Rio

Rio’s desultory performance is a little puzzling unless one factors in a bearish assessment of commodity prices. It is down about a third since the middle of last year. Analysts have it on a 2013E earnings multiple of about 7-8 times, which is very low for a company that is large enough not to have significant investment risk. Especially

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ASX Shares – 17th July

By Chris Becker These daily updates need to be placed in context with the longer trends and drivers amidst the overall technical picture, so head to Macro Investor for a free trial. Former “Trading Week” readers will find it reborn as “Technicals“, published 8.30am each Monday morning. The unicorns came bearing bank stocks which rocketed today, whilst

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ASX Shares Daily – July 16

By Chris Becker These daily updates need to be placed in context with the longer trends and drivers amidst the overall technical picture, so head to Macro Investor for a free trial. Former “Trading Week” readers will find it reborn as “Technicals“, published 8.30am each Monday morning. Unicorns and rainbows on the ASX today and if that’s

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BHP’s loss is Paladin’s gain

Nuclear power may be on the nose in the wake of the Fukushima disaster, but energy still remains a sector that will provide inevitable demand. That makes uranium a reasonable play despite the fears about the risks. The increasing signs of reticence by BHP-Billiton to invest in the world’s biggest uranium deposit Olympic Dam are increasing focus on Paladin. JP

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ASX Shares Daily – 12th July

  By Chris Becker These daily updates need to be placed in context with the longer trends and drivers amidst the overall technical picture, so head to Macro Investor for a free trial. Former “Trading Week” readers will find it reborn as “Technicals“, published 8.30am each Monday morning.   So, pick your poison. Bank of Korea surprises

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Plain vanilla Macquarie

Macquarie Group, once a darling of the market, has become something of a bellwether of the era in which financialisation reaped seemingly limitless rewards. After falling spectacularly in the wake of the GFC, its share price has “only” declined by 10% over the last year, a relative underperformance of -1.4%. Credit Suisse bravely has an outperform ranking, despite cutting its

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ASX Shares Daily – 11th July

  By Chris Becker These daily updates need to be placed in context with the longer trends and drivers amidst the overall technical picture, so head to Macro Investor for a free trial. Former “Trading Week” readers will find it reborn as “Technicals“, published 8.30am each Monday morning.   Today, at least for the ASX200, was for

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Foreign equity flows avoid the banks

Retail investors are continuing to be extremely wary of the stock market, although self managed super funds are still exposed: 38 per cent of SMSF assets are in cash or fixed interest, 35 per cent in Australian shares, 18 per cent in property and 8 per cent in international shares. As Deutsche Bank notes, it is the super pool

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ASX Shares Daily – 10th July

By Chris Becker These daily updates need to be placed in context with the longer trends and drivers amidst the overall technical picture, so head to Macro Investor for a free trial. Former “Trading Week” readers will find it reborn as “Technicals“, published 8.30am each Monday morning.   Well, for the ASX200 at least, it appears the

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Iluka buries its targets

Iluka Resources has downgraded forecast sales volumes for 2012 after a weak first six months. It is an indication of the risks of investing in resource stocks. Iluka is citing pessimism about problematic political and monetary responses to weak global economic conditions, most notably in Europe. The combined zircon, rutile and synthetic rutile forecast of 510-720,000 tonnes is down 23-45%

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ASX Shares Daily – 9th July

By Chris Becker These daily updates need to be placed in context with the longer trends and drivers amidst the overall technical picture, so head to Macro Investor for a free trial. Former “Trading Week” readers will find it reborn as “Technicals“, published 8.30am each Monday morning.     The false dawn is upon us once more.

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ASX Shares Daily – 6th July

    By Chris Becker These daily updates need to be placed in context with the longer trends and drivers amidst the overall technical picture, so head to Macro Investor for a free trial. Former “Trading Week” readers will find it reborn as “Technicals“, published 8am each Monday morning.     Today the meerkats stood up and

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ASX Shares Daily – 5th July

By Chris Becker These daily updates need to be placed in context with the longer trends and drivers amidst the overall technical picture, so head to Macro Investor for a free trial. Former “Trading Week” readers will find it reborn as “Technicals“, published 8am each Monday morning.         Some days the market needs a

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Origin joins the big league

Origin Energy is getting a lot of attention from analysts after the company announced it was starting a sale process for a $1 billion-plus stake in its $23 billion Queensland liquefied natural gas project. The company has also given the green light for a second production unit. It will offset the dilutive impact of a $1 billion

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ASX Shares Daily – 4th July

  By Chris Becker These daily updates need to be placed in context with the longer trends and drivers amidst the overall technical picture, so head to Macro Investor for a free trial. Former “Trading Week” readers will find it reborn as “Technicals“, published 8am each Monday morning.   Well today at least is 4th of July,

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ASX Shares Daily – 3rd July

  By Chris Becker These daily updates need to be placed in context with the longer trends and drivers amidst the overall technical picture, so head to Macro Investor for a free trial. Former “Trading Week” readers will find it reborn as “Technicals“, published 8am each Monday morning.   As you can see in the table opposite,

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Aristocrat holds back the tide

One Australian manufacturing firm that is maintaining its business is Aristocrat Leisure, which makes slot machines, gaming systems and accessories. The company’s first half earnings forecast, suggests full year earnings are heading towards growth of 10-15%. The question is: how will gambling fare in recessionary times? Not all that well, if global casino capital expenditure is any indicator; it is

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The volume around David Jones – it does go to 11!

              UPDATE: AFR is reporting that “ASIC has confirmed it has launched an investigation into trading in David Jones’s shares and disclosure issues relating to an abandoned takeover approach”. As mentioned in yesterday’s ASX Shares Daily, there has been an unravelling debacle over the recent “mystery” takeover bid and subsequent withdrawal

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ASX Shares Daily – July 2nd

By Chris Becker In case you’ve wondering what we’ve been up to these last few months, we’ve launched the premium “Macro Investor” newsletter. And that’s where you’ll find the former Trading Week – but it has turned into much, much more, published Monday morning first thing alongside each edition of Macro Investor. Click here for

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ASX Shares Daily – 29th June

By Chris Becker Right – it was end of month, end of quarter, end of financial year and all was quiet until the EU meeting this morning, which sent everything attached with “risk” up! Straight up 1% or more across the board! Huzzah – crisis over! By the way – here’s the actual statement if

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ASX Shares Daily – 28th June

By Chris Becker Another volatile day on Asian markets, with both bulls and bears exchanging places. The ASX200 saw the  usual blessing of unicorns gunned down throughout the afternoon, barely closing in the green, up only 1 point to 4044 points, continuing to have a peek just above the short term support of recent weeks, as seen in the

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The two halves of News Corp

The Australian media sector is certainly newsworthy right now, pardon the pun. It is not so interesting to investors, except perhaps those who want to take short positions. As Morgan Stanley points out, the industry is in structural decline. There may be short term plays to take advantage of cyclical movements, but there is, MS