Australian Shares

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Trading Day

Most Asian markets fell today on poor leads from their Atlantic cousins, as markets await another Sarkozy/Merkel conference tonight. The S&P/ASX 200 Index had a mixed day, falling on the open, blipping up on the retail trade data release, before finishing flat, down 3 points to 4105 points. On the daily charts, the local bourse

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Market Morning

Overseas markets on Friday were again mixed, with good headline US unemployment numbers failing to ease European debt tensions on risk markets as tensions also rose in the Straits of Hormuz over Iran. European markets were mainly down, but the UK FTSE gained 25 points and rose almost 0.5% to finish at 5650 points, whilst

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Trading Day

Asian markets continued to defy the optimists as the risk-on New Years rally tapers at the end of the week, with the S&P/ASX 200 Index closing down 0.9% or 34 points to finish at 4108 points. On the daily charts, the local bourse is still in an intermediate trending range from the October 2011 low,

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Billabong rides a wave down

In this week’s spotlight, we take a look at the very well-known Australian surf wear company Billabong (Billabong Group, BBG).  Gnarly. The Business Billabong (BBG) started out as a humble board shorts maker, with founder Gordon Merchant designing and stitching his wares in a Gold Coast kitchen in 1973.  From those humble beginnings Billabong has

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Market Morning

Overnight markets were mixed and cautious again, with continued good US dataflow on one side of the Atlantic and more debt troubles on the other side, as France successfully sold bonds, Italian bond yields jumped above 7% again. European markets opened down and continued to slide throughout their sessions, with both major bourses ending the

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Trading Day

Asian markets snapped the risk-on New Years rally from overseas markets with almost all exchanges in the red this afternoon, the S&P/ASX 200 Index closing down 1.1% or 45 points to finish at 4142 points. For the record, the first 3 trading sessions of the year have been : +1%, +2% and -1% – viva

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Market Morning

Overnight markets were directionless and cautious on continued good US dataflow and some minor improvements in EZ data, but stumbled on the Unicredit capital raising and a rush to German bunds again, whilst the ongoing tensions in the Strait of Hormuz tussled commodity markets. European markets opened flat and slid throughout their session, with both

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Trading Day

Asian markets continued the risk-on rally from overseas markets with the Australian bourse outperforming all others, the S&P/ASX 200 Index closing up 2% or 86 points to finish at 4187 points. As I said yesterday, the last four months have seen volatility reign, with daily closing prices ranging from just below 3900 and just above

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Market Morning

Financial markets have breathed a sigh of relief and continued to accelerate in the first trading sessions 2012, with bullishness returning aplenty. The US dataflow has been good and reinforces the consensus that the US will have a good, if slightly stagnant (ca. 2% GDP growth) 2012, whilst those silly Europeans do whatever they have

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Trading Day

Asian markets started the new calendar year with a flurry, on the back of positive data from India (manufacturing rose to 6 month high) and China (non-manufacturing jumped for December), although amidst a backdrop of a contracting Singapore economy and deterioration in South Korean manufacturing. Nonetheless, the consensus crowd got excited and Australian shares were

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Another retail marriage?

As the summer of discontent continues for our retailers, so too the woes for JB Hi Fi’s (JBH) share price.  Whilst the recent drop has created a lot of unsightly red in share portfolios (yours truly included), big price shifts can also create big opportunities.  Given the depressed price of JBH, it’s time to consider

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Market Morning

Financial markets started 2012 with a bang, although only a few were open, the German DAX in particular firing off, up 3% following its 15% loss of last year. This was supposedly on the back of a higher, but still contracting manufacturing gauge which beat low expectations, and looks set to raise risk higher across

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Trading Day

Asian markets generally finished the day – and the calendar year – up slightly, although lower than overnight markets, possibly due to the manufacturing PMI data fro China that indicated a second successive month of contraction. Australian shares, repeating a meme of the year, actually finished in the red, with the S&P/ASX 200 Index closing

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Market Morning

Financial markets found some calm overnight even though the anticipated Italian debt auction was successful, it had little to no effect on long term yields, but good economic data out of the US (home sales and unemployment claims) gave the bourses the kick they needed, and generally most risk markets found bids. In Europe, the

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Trading Day

Asian markets fell or were flat today, as the Euro continued to fall against the Yen and gold slipped alongside. The S&P/ASX 200 Index closed down 0.4% or 17 points to 4071 points, dicing with its support line around 4050 points, although given this is the post-Xmas pre-NY break on very light volume, not much

1

Market Morning

Financial markets were unsettled overnight even though a very short term Italian debt auction was successful, ECB overnight deposits climbed again, with the LTRO having no short term effect on calming market fears of a credit crisis in the new year. In Europe, the UK FTSE finished flat, down only 0.1% to 5507 points, whilst

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Trading Day: Turning Japanese

With Christmas over and a New Year around the corner, the Australian market was set to respond to the earlier return on US and European markets, which closed slightly up or mixed, but instead reacted negatively to Japanese data, where household spending shrank by 3.4% in November, industrial output fell 2.6% from October and retail

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Chart of the Day: 111 years of Oz stock market

Today’s colorful chart comes from ASXIQ’s blog, and very succintly illustrates the distribution of annual returns on the Australian stock market: Interestingly, ASXIQ has arbitratily chosen a 7-23% absolute scale, probably based on the “lumpiness” of distribution around those numbers, eschewing the more clinical 5-10% (or most quoted prediction for stock markets – “rise 10%

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Trading Day

Note: Coverage of overnight markets will now be done as “Market Morning” before the Asian markets open. Trading Day will focus on the Asian session and Australian stocks. The ASX is closed Monday and Tuesday next week, so Trading Day will return on Wednesday. After a shortened session due to the Christmas break, Santa came

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Market Morning

Risk markets had a generally good day on the European and US sessions, based on two factors. First, the UK surprised with a slightly higher than expected GDP result, even though the Treasury warned of a 0.7% annualised growth rate and 2% inflation for 2012. And secondly, although US third quarter GDP was disappointing at

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Trading Day

Note: Coverage of overnight markets will now be done as “Market Morning” before the Asian markets open. Trading Day will focus on the Asian session and Australian stocks. Following the fizzle of the ECB bazooka last night, the S&P/ASX 200 Index dropped 1% at the open and finally closed 1.2% or 48 points down to

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Market Morning

Santa dropped some coal into European stockings last night, as the ECB “backdoor QE” appeared to be a fizzer. Sovereign downgrades (Hungary to junk), bad GDP reports (Italy to go into recession alongside Spain) and slow growth forecasts (UK particularly) jumbled the “everything is now fine” meme alongside the US Congress’ delay in funding payroll

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Trading Day

Note: Coverage of overnight markets will now be done as “Market Morning” before the Asian markets open. Trading Day will focus on the Asian session and Australian stocks. Following the lead on overnight markets, the S&P/ASX 200 Index rallied strongly on the open and maintained the high, closing up 2% or 86 points to 4139

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Market Morning

Note: Market Morning is an update on overnight markets that was previously performed late in the afternoon in the “Trading Day” post. This will be more timely and provide our readers with an overview before the Asian risk markets open. Risk markets surged overnight, with two factors at play: first in Europe, a very successful

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Cochlear – brazing for a comeback

Cochlear released the following update on the recent recall of its core product, the Nucleus 5 implant, yesterday: The results of our investigation to date point to a loss of hermeticity from unexpected variations in the brazing process during manufacturing. Brazing is the process that joins the feedthrough to the titanium chassis. Variations in the

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Trading Day

Note: Coverage of overnight markets will now be done as “Market Morning” before the Asian markets open. Trading Day will focus on the Asian session and Australian stocks. After yesterdays walloping, the S&P/ASX 200 Index closed down just over 2 points to 4060 today, after absorbing another night of turbulence on risk markets. As I

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Brokers very bullish

With the Aussie share market still battening down the hatches and the 85% probability of a Santa Rally sinking hopes each day, its interesting to see what the consensus is saying about where the market should be. The table below comes from ASXIQ who has collated the median price targets of analysts and brokers followed

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Market Morning

Note: Market Morning is an update on overnight markets that was previously performed late in the afternoon in the “Trading Day” post. This will be more timely and provide our readers with an overview before the Asian risk markets open. Risk markets fell overnight, most likely due to the comments by ECB President Mario Draghi

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Trading Day

The S&P/ASX 200 Index closed down almost 100 points or 2.43% to 4060 today, after falling sharply in the morning and following the news of the death of North Korean dictator Kim Jong Il. However, its not the death of a despot that has driven markets down. As I suggested last week, the market appeared

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Billabong dries up

The slow death march of the retailers continue, with Billabong (BBG) added alongside JB Hi-Fi today, announcing an estimated $20-25 million or approx. 25% drop in earnings (before interest and tax) for the six months ending December 2011, compared to the same period in 2010. The clothes manufacturer and retailer noted that this estimate is