If Macrobusiness readers are less than surprised by the downgrade of David Jones, the same cannot be said for the broking community. In their usual stampede to discover the self evident after the fact, they are turning very bearish. Sentiment, accordingly, is likely to turn ugly for the stock. Morgan Stanley says that there is
The S&P/ASX 200 fell slightly on the open, after digesting QE-easiness from overnight markets. The market has fallen further and is now 0.57% or 25 points lower just after midday to 4489 points. Other Asian markets are also down slightly, with the Nikkei 225 down 0.37% at 9926 points, and the Hang Seng down 0.22%
The S&P/ASX 200 jumped slightly on the open, after digesting a poor performance of overnight equity markets. The market is now .47% or 21 points higher just after midday to 4516 points. Other Asian markets have also up slightly, with the Nikkei 225 steady at 9926 points, and the Hang Seng up 1% at 21,882
To what extent do share valuation trends reflect the rises and fall of economies and countries? That is the question that occurs when reading a report from Morgan Stanley’s Gerard Minack on long term trends. It says that the last 30 years were exceptional for shares: The past 30 years were exceptional, for a number
The S&P/ASX 200 slumped again on the open, from the very poor performance of overnight equity markets. The market is now 1.7% or 77 points lower just after midday to 4505 points. Other Asian markets have similar losses, with the Nikkei 225 down 1.5% at 9914 points, and the Hang Seng down 1.75% at 21,957
The release of the government’s carbon tax has had brokers rushing to calculate the impact on stocks. Much of it would already be priced in, of course, but now that it is (semi) official the effect on fundamentals needs to be assessed. Deutsche Bank says the impact on FY13 earnings will be modest for many carbon-intensive
MacArthur Coal (MCC) has received a take over bid from US energy company Peabody in conjunction with ArcelorMittal – the world’s largest steel maker. The offer is for $15.50 per share, minus whatever dividend MCC pays this year. MCC has three operating coal mines which are all situated in central Queensland – Moorvale, Coppabella and
In this week’s equities spotlight, we take a look at engineering and construction firm Monadelphous. The Business Monadelphous (MND) is an Australian engineering group providing construction, maintenance and industrial services to the resources, energy, infrastructure and airline sectors. It also offers turnkey design and construction services. Monadelphous Group operates through four major divisions: Engineering Construction
The S&P/ASX 200 slumped on the open, digesting the very poor US unemployment numbers on Friday, and the carbon pricing announcement yesterday. The market is now 1.3% or 60 points lower just after midday. Other Asian markets have smaller losses, with the Nikkei 225 down 0.5% at 10089 points, and the Hang Seng up down
Brokers are starting to wake up to the fact that the mining boom is only going to benefit the miners. The rest of the economy is likely to struggle, not least because Australia’s government finances are strong, national debt is low. Why does this matter? Because it means the Australian dollar is likely to remain
The S&P/ASX 200 opened higher and has built on these gains from very positive leads from US overnight, and now after midday is up 47 points or 1% to 4652 points. Other Asian markets have similar gains, with the Nikkei 225 up 1% at 10170 points, and the Hang Seng up 1.17% at 22,794 points.
The S&P/ASX 200 opened lower and remained low until the ABS unemployment figures were released at 11.30, and now after midday is up slightly, 2 points or 0.05% to 4607 points. Other Asian markets are mixed, with the Nikkei 225 losing 0.1% at 10072 points, and the Hang Seng up 0.4% at 22,599 points. Other
The S&P/ASX 200 opened slightly lower and has remained steady throughout the trading day and is right on 4600 points just after midday after weak leads from Europe and the US overnight. Other Asian markets are also mixed, with the Nikkei 225 up 0.15% at 9988 points, and the Hang Seng down 0.4% at 22,656
Following on from last week’s analysis of the Telstra/NBN Co agreement, we shine the equities spotlight on Australia’s big telco – Telstra. The Business Telstra is Australia’s largest telecommunications company and the owner of the majority of Australia’s fixed-line copper network. Its business can be split into the following segments: Consumer – mobile, broadband, telephony
The S&P/ASX 200 rose about 15 points on the open, but has retraced after waiting for the RBA Board decision on rates at 2.30pm AEST. It is currently 5 points or 0.12% down just after midday, at 4605 points. Other Asian markets are also mixed, with no leads to follow from Wall Street due to
The S&P/ASX 200 jumped almost 1% on the open, but has retraced after absorbing bad retail and building figures. It is currently 33 points or 0.7% up just after midday, now at 4624 points. Other Asian markets are up following the strong lead from Wall Street on Friday, with the Nikkei 225 up 1.05% at
Summary The S&P/ASX200 finished the week 83 points higher, up 1.84 per cent to close at 4,591 points on Friday. After one of the biggest one-day moves of the year, the market experienced a slight sell off on Friday to finish just below the 4600 points level. Monthly Analysis The market is almost replicating the
The S&P/ASX 200 was slated to make further gains today, but has moved down almost 24 points or just over half of one percent just after midday, now at 4584 points. This is possibly due to the weak Chinese PMI figures (forecast at an expanding 52, came in at 50.2) and the equally important Japanese
A week ago Telstra (TLS) released a brief overview of the agreement reached between itself and NBN Co over the future of its network. So a former government-owned telecommunications monopoly (turned private-sector infrastructure monolith) reached a deal on how the new, government-owned telecommunications monopoly would trash its copper network and access it’s formerly government-owned ducts
The S&P/ASX 200 jumped almost one percent at the open this morning, and has since advanced strongly to 4580 points, up 50 points or 1.1%. Asian markets are a bit maixed, with the Nikkei 225 steady at 9796 points, and the Hang Seng up 0.95% to 22,271 points. Other risk assets are also up, the
The S&P/ASX 200 jumped over one percent at the open this morning, and advanced to 4526 points, up 52 points or 1.15%. Is this on speculation of a “positive” vote in Greece on austerity, or the Senate Committee rejection of the MRRT, or a rebound rally amidst the growing bearish conditions? Asian markets are up
In this week’s Equities Spotlight, we shine the torch on well-known online employment business SEEK Limited. The Business Seek (SEK) is Australia’s number one job advertising website, controlling almost 60% of the Australian and New Zeland online job-seeking market. Founded in Melbourne in 1997, Seek now employs around 400 people and has commercial stakes in the
The S&P/ASX 200 jumped over one percent at the open this morning, but has fallen after midday, now at 4473 points, up 11 points or 0.26%. Asian markets are up, with the Nikkei 225 up 1.08 percent to 9681 points, and the Hang Seng up 0.36% to 22,121 points. Other risk assets are also up,
The S&P/ASX 200 has fallen over one percent on the open this morning, and continues to fall after midday, now at 4455 points, down 53 points or 1.19%. Asian markets are also down, with the Nikkei down 0.86 percent to 9595 points, and the Hang Seng down 0.55% to 22,048 points. Other risk assets are
Broker analysis relies heavily on looking at the fundamentals: assessing earnings forecasts, the validity of future earnings multiples, and discounting back to the present from the future. That tends to be highly normative. That is, it works best when markets revert to the norm: normal consumer demand, normal economic activity, normal price earnings ratios and
The S&P/ASX 200 has steadied after midday, now at 4498 points, down 0.04%, after opening slightly higher. Asian markets are mainly up, with the Nikkei up 0.28 percent to 9624 points, and the Hang Seng up strongly, 1.22% to 22,025 points. Other risk assets are mixed, although the AUD is just below 1.055 against the
The bid by SAB Miller for Foster’s almost certainly won’t go anywhere in its current form. But it is another blow to the non-resources industry base of Australia. What will Australians have to invest in on the ASX when large chunks of our industry base have become the part of someone else’s global food chain?
The S&P/ASX 200 has fallen over 20 points today, but has steadied after midday, now at 4512 points, down 0.44%, on the back of reduced GDP growth from the US. Asian markets are all down on the news, with the Nikkei down 0.37 percent to 9594 points, the Hang Seng also down 0.7% and Singapore
This week’s Spotlight will be on a company I believe is probably the best listed stock on the ASX – Cochlear Ltd (COH). Not only is it a great performer, with sound management and excellent returns for shareholders, it is an innovative company that should be a template for how our economy should present itself
The S&P/ASX 200 jumped over 1% on the open again from positive leads from Greece, but has steadied after midday, now at 4540 points, up 32 points or 0.71% Asian markets have also responded in kind, with the Nikkei up over 1.3 percent to 9582 points, the Hang Seng also up 0.7% and Singapore lagging
