Author: roymorgansocial

Former uranium market darling calls in administrators

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Original article by Tess Ingram
The Australian Financial Review – Page: 13 : 4-Jul-17

Australian-listed Paladin Energy will seek a restructuring or recapitalisation after appointing administrators from KPMG. The move follows Paladin’s failure to secure a deal with Electricite de France to extend the deadline to repay $US200m plus interest of $US77m, which fell due on 10 July. The prepayment related to a long-term uranium supply contract, and the French utility rejected a proposed standstill agreement which would have given the debt-laden Paladin more time to pay.

CORPORATES
PALADIN ENERGY LIMITED – ASX PDN, ELECTRICITE DE FRANCE, KPMG AUSTRALIA PTY LTD, UBS HOLDINGS PTY LTD, CHINA NATIONAL NUCLEAR CORPORATION

Rhiannon ‘disappointed’ in leader Di Natale

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Original article by Jacob Greber
The Australian Financial Review – Page: 5 : 3-Jul-17

Australian Greens senator Lee Rhiannon says she wants to see her party become more democratic. Her comments follow a move by federal colleagues to ban her from attending important party room meetings. The ban resulted from claims that Rhiannon was undermining her colleagues over the party’s approach to the Federal Government’s schools funding package. Rhiannon says the decision effectively disenfranchises all members of the Greens’ New South Wales branch, and that she is "disappointed" with Greens leader Richard Di Natale.

CORPORATES
AUSTRALIAN GREENS, THE GREENS NSW INCORPORATED

Will the RBA join the global rates party?

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Original article by Timothy Moore
The Australian Financial Review – Page: 20 : 3-Jul-17

Futures pricing suggest that the Australian sharemarket will be bolstered by a positive lead from Wall Street when trading resumes on 3 July. The Reserve Bank’s monetary policy meeting will be a key focus for investors in coming days, although the cash rate is expected to be left on hold in July. Meanwhile, Australian retail sales, building approvals and trade data will be released during the next week.

CORPORATES
RESERVE BANK OF AUSTRALIA, DOW JONES INDUSTRIAL AVERAGE INDEX, UNITED STATIONERS, EUROPEAN CENTRAL BANK, NIKE INCORPORATED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, CAPITAL ECONOMICS LIMITED

‘Oversold’ retail trusts set to rebound

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 31 : 3-Jul-17

Vicinity Centres, Scentre Group and Westfield Corporation all returned negative returns of at least 10 per cent in the year to 30 June 2017. This made them the worst performing stocks in the S&P/ASX 200-A REIT index, but fund managers believe that this now makes them good value, and expect them to perform much better in 2017-18. Fund managers contend that the three stocks – Australia’s biggest shopping centre owners – were oversold because of the perception that their tenants will be damaged by the arrival of Amazon in Australia.

CORPORATES
VICINITY CENTRES – ASX VCX, SCENTRE GROUP – ASX SCG, WESTFIELD CORPORATION – ASX WFD, AMAZON.COM INCORPORATED, SG HISCOCK AND COMPANY LIMITED, AMP CAPITAL INVESTORS LIMITED, WHOLE FOODS MARKET INCORPORATED, JP MORGAN AUSTRALIA LIMITED

Cricket rights set for delay amid pay war

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Original article by Nick Tabakoff
The Australian – Page: 24 : 3-Jul-17

Negotiations for a new cricket broadcasting rights deal are expected to be put on hold until 2018. Cricket Australia had commenced preliminary talks with TV networks, but factors such as the pay dispute with top cricketers and the collapse of the Ten Network may prompt a final deal to be delayed. Cricket Australia had been aiming to gain around $A900m for the next five-year rights deal, compared with about $A600m under the current deal. However, sports rights experts say Ten’s collapse means that around $A700m is more likely.

CORPORATES
CRICKET AUSTRALIA, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, BIG BASH LEAGUE, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, PPB ADVISORY, KORDA MENTHA AND COLLEAGUES PTY LTD, FEDERAL COURT OF AUSTRALIA, TENNIS AUSTRALIA

CFMEU faces bankruptcy from lawsuit

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 3-Jul-17

The Construction, Forestry, Mining & Energy Union and several of its senior officials have been served with a writ in the Victorian Supreme Court. The writ relates to a failed apartment project on the site of Pentridge prison in Melbourne’s north, with the writ alleging that the CFMEU used illegal coercion and threats that caused delays that led to the project’s failure. The value of the writ is potentially as high as $A150 million, a sum that could bankrupt the union if the case went against it.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, SUPREME COURT OF VICTORIA, WEST HOMES AUSTRALIA PTY LTD, BORAL LIMITED – ASX BLD, GROCON PTY LTD, PENTRIDGE VILLAGE PTY LTD

PM’s dare to dissident Liberal MPs

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 3-Jul-17

Prime Minister Malcolm Turnbull has warned that he will quit Parliament if he is ousted in a leadership spill. Tensions between the moderate and conservative factions of the Liberal Party have escalated in the wake of leaked comments by Christopher Pyne, while former prime minister Tony Abbott is among members of the party who are advocating structural reform. The Coalition would be keen to avoid a by-election in Turnbull’s electorate, given that it has a one-seat majority in the lower house.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF DEFENCE, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, LIBERAL PARTY OF NEW SOUTH WALES, GROUP OF TWENTY (G-20), INSTITUTE OF PUBLIC AFFAIRS LIMITED

Calling a truce in the fund war

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Original article by David Rogers
The Australian – Page: 17 & 20 : 3-Jul-17

The issue of active versus passive fund managers attracts considerable debate in Australia. However, BetaShares MD Alex Vynokur argues that the focus for fund managers should be on acting in the best interests of clients rather than the merits of each investment strategy. He notes that many active funds charge high fees while failing to deliver strong returns. BetaShares’ exchange-traded funds feature low fees and have a proven track record for good returns.

CORPORATES
BETASHARES CAPITAL LIMITED, BETASHARES FTSE RAFI AUSTRALIA 200 ETF – ASX QOZ, S&P DOW JONES INDICES LLP

Satisfaction with big four banks remains high in May

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 3-Jul-17

A Roy Morgan Research Single Source survey has found that satisfaction with Australia’s four major banks rose by 0.1% to 80.2% in the six months to May 2017, which is well above the long-term average of 74.9% recorded since 2005. The Commonwealth Bank of Australia continued to have the highest level of satisfaction among the big four banks (81.1%), followed by National Australia Bank (80.4%). Meanwhile, satisfaction among home-loan customers of the big four (78.4%) continues to be below that of their other customers (80.6%), although over the last year they have narrowed the gap marginally. The survey also shows that CBA and NAB rank equal highest in terms of main financial institution satisfaction (82.6%), followed by ANZ (82.0%) and Westpac (80.7%).

CORPORATES
ROY MORGAN RESEARCH LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, TEACHERS MUTUAL BANK LIMITED, GREATER BANK LIMITED

Australian Inflation Expectations at 4.2% in June

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 3-Jul-17

A Roy Morgan Single Source survey has found that Australians’ inflation expectations over the next two years fell by 0.1 per cent month-on-month in June 2017, to 4.2% per year. However, inflation expectations are up 0.2% compared with June 2016. Australian inflation expectations remain well below average inflation expectations over the last seven years of 5.1%. Analysis by State shows that inflation expectations are highest in South Australia at 4.4%, closely followed by New South Wales and Victoria (4.3%).

CORPORATES
ROY MORGAN RESEARCH LIMITED