Another volatile day on the S&P/ASX 200 Index, with a large absorption of data, closing down 25 points or 0.6% today to 3872 points. The market is up slightly in the after hours futures market. Asian markets had larger falls, Japan’s Nikkei 225 closing down 1% at 8452 points, and the Hang Seng also down
The S&P/ASX 200 Index closed down 111 points or 2.8% today to 3897 points. The market has dropped 10 points in the after hours futures market, whilst Euro and US markets are also set to open down, and at crucial support levels. Breakouts below are likely to result in the next step down. Asian markets
Several MacroBusiness bloggers have talked about the possibility of share markets entering a period dubbed the “Great Volatility”. This is essentially a secular bear market where prices rise and fall 20‑50% within a year but give low growth (1-2%) on average over the long term. This would be in contrast to the “Great Moderation” –
The S&P/ASX 200 Index closed exactly flat today at 4008.6 points. The market has dropped 0.5% in the after hours futures market, whilst Euro and US markets are also set to open down, probably on end of month and end of quarter portfolio re-adjustments. Asian markets were mixed, Japan’s Nikkei 225 closing flat at 8700
The S&P/ASX 200 Index closed down slightly after a 1.5% drop in the morning, recovering to finish 0.8% or 31 points lower to 4008. The market has slipped below 4000 in the after hours futures market, whilst Euro markets are set to open flat or slightly down and US to open 1% higher, as all
The S&P/ASX 200 Index closed up after a strong rise in the morning, rising 0.9% or 35 points to 4039. The market is steady in the after hours futures market, whilst Euro and US markets are set to open flat or slightly down. Asian markets were mixed, Japan’s Nikkei 225 gaining steady at 8615 points,
Accounting and financial group KPMG has constructed a detailed review of the top 50 listed companies – the ASX50 – following the end of the corporate earnings results. Here are some key findings, which are revealing: Statutory (reported) profits for 12 months ending 30 June 2011 are up 33% Underlying (cash) profits for same period
The S&P/ASX 200 Index had a stonking day, rising some 3.6% or 140 points to 4004. This one day reversal – on the back of a possible Euro TARP – has continued in the futures market, with the ASX200 up to 4030 points and all other risk markets responding, in kind. Asian markets experienced slightly
The torpor in Europe is spooking the markets, and there is a global rush to find safe havens. That is probably what is behind the drop in the $A — after all about two fifths of the ASX is foreign ownership — and it is behind what is happening in much of the region. An
I notice that yesterday and, so far as I can tell, today as well, none of the usual suspects is out on the hustings suggesting you buy stocks on the dip. Last time we were at similar lows, Eureka Report, Motley Fool, Intelligent Investor and a herd of others bellowed, bawled and mooed a bullish
The S&P/ASX 200 Index lost 1% or 39 points to 3863, hitting a 2 year low, after a strange and volatile day with a 50 point rally in the morning that collapsed during the day, even though the banks all put on solid gains. The answer was all that does not shine – gold. In
The signs are looking ominous for commodity prices. Merrill Lynch has a report out anticipating a 2008 style decline in prices. Such historical analogies rarely work, but they do help organise thinking. Merrill analysts are clearly responding to some strong anecdotal evidence from China: With the accumulating anecdotes coming from the coal and property sector
The S&P/ASX 200 Index lost 1.5% or 57 points to 3907, after a volatile day from absorbing last night’s crash across Euro and US markets and a “statement” from the G-20. In after hours future trading, the market is slipping below 3900, whilst Euro and US futures point to some minor gains. Asian markets experienced
In this weeks second equities spotlight (what a bonanza!), we take a look at online travel company Webjet (WEB). The Business According to the FY11 annual report, Webjet is an: ..an electronic manager, marketer and credit card merchant of travel and related services utilising the internet and other mediums. Webjet started out as a website-based service that
The S&P/ASX 200 Index closed down 2.6% or 106 points to 3964, after a worldwide “risk off” event coming after the US Federal Reserve announced its Operation “Twist” last night. In after hours future trading, the market is slipping whilst Euro and US futures point to similar losses. Asian markets experienced similar moves, Japan’s Nikkei
During periods of gloom, analysts like to revert to the obvious. Goldman Sachs has a report out noting that “consistent with periods of high risk aversion investors have moved to discount the potential earnings risk by discounting the prospective pe (price earnings ratio)” Well, yes. It’s called a bear market, I believe. Goldman notes that current
The S&P/ASX 200 Index closed up 0.8% or 31 points to 4071, after recovering some mild losses in the morning. In after hours future trading, the market is steady whilst Euro and US futures point to similar gains. Asian markets experienced smaller moves, Japan’s Nikkei 225 closed up 0.2% to 8741 points, whilst the Hang
An interesting hypothetical is posed in a Merrill Lynch report. What would happen to Westfield Retail Trust if Myer were to exit its portfolio? It shows just how much the department stores are struggling to hold their position. First, Merrill reckons it would lift the EPS quite substantially: We have been asked by clients what
With the recent News of the World scandal and the Australian media inquiry it has prompted, today we’ll take a look at the media empire at the centre of it all – Newscorp. The Business Newscorp is a global, diversified media company which operates in the following areas: Cable Network Programming, Filmed Entertainment Television Direct
The S&P/ASX 200 Index closed down 1% or 41 points to 4040, after recovering some mild losses in the morning, slipped after lunch on news of Italy’s rating downgrade and RBA minutes indigestion. In after hours future trading, the market has slipped another 5 points whilst the Euro and US futures point to similar losses.
In the current gloom, picking good defensive options is becoming the strategy de jour. Obvious options are gas and uranium, which are yet to kick in, but will surely be just as potent as iron ore and coal in time. As RBS points out, the Reserve Bank agrees: Recent RBA research reiterates a bright future
In recent months, pretty much every time there’s been a fall in the share market, a battery of experts have leapt into the press to advise ‘buy the dip’. The assumption behind this advice is the simple platitude that the share market always bounces back. Unfortunately what is never considered is the probability that the next
The S&P/ASX 200 Index reversed Friday’s gains and closed down 1.6% or 68 points to 4081, possibly on reaction to President Obama’s deficit cuts and tax hike plan. In after hours trading, the market is steady whilst the Euro and US futures point to similar losses. Asian markets experienced similar moves, although the Nikkei 225
The S&P/ASX 200 Index closed up 1.9% or 77 points today in a strong session to 4149. In after hours trading, the market is steady whilst the Euro and US futures point to similar gains. Asian markets experienced similar moves, with the Nikkei 225 up 2.25% to 8864 points, whilst the Hang Seng was up
The S&P/ASX 200 Index closed up 1.6% or 66 points today to 4071. In after hours trading, the market is steady whilst the Euro and US futures point to similar gains. Asian markets experienced similar moves, with the Nikkei 225 up 1.69% to 8662 points, whilst the Hang Seng was steady at 19073 points. In
The S&P/ASX 200 Index closed down 1.6% or 67 points today to 4005, after a solid up-session in the morning, when the one-two punch of lower inflation and Moody’s downgrade of French banks tipped the bourse into the red. In after hours trading, the market is steady whilst the Euro and US futures point to
The S&P/ASX 200 Index closed up 0.8% or 34 points today to 4072. In after hours trading, the market is up another 15 points whilst Euro and US futures point to gains. Asian markets experienced similar moves, with the Nikkei 225 up nearly one percent to 8616 points, whilst the Hang Seng is closed for
Yes, I’d say it is. As FOMC member, Thomas Koenig put it recently in a CNBC video interview with Steve Liesman: …a capitalistic economy – if you really believe in its long-term benefits – has cycles. People do make mistakes. See, the market is valuable not because it’s the smartest in the world, but because
Cochlear (COH, previously covered at MB here) announced a voluntary recall of its Nucleus 5 implant products yesterday. The share price was promptly massacred, closing down 20% to $57.50. The main jist of the recall was as follows: COH is undertaking a voluntary recall of the unimplanted Nucleus CI500 cochlear implant range and is currently
The S&P/ASX 200 closed down 3.7% or 156 points down today to 4038. In after hours trading, the market has slumped another 20 points whilst awaiting the Euro and US sessions, both of which are down 2-4%. Asian markets experienced similar losses, with the Nikkei 225 down 2.3% to 8535 points, now below its earthquake
