Author: roymorgansocial

Wave of uncertainty wipes $30bn

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Original article by David Rogers
The Australian – Page: 21 & 30 : 10-Nov-16

The Australian dollar and the domestic sharemarket fell sharply on 9 November 2016, in response to the election of US presidential candidate Donald Trump. The S&P/ASX 200 reached an intra-day low of 5,052.1 before closing down 1.9 per cent at 5156.6. In the US, S&P 500 futures initially fell by more than five per cent, which resulted in a temporary suspension of trading. Some analysts expect "risk-off" trading to be sustained for some time, while the prospect of an interest rate rise in the US in December appears to have diminished. The Australian dollar reached a low of $US0.758 in local trading, and Westpac’s Robert Rennie says it could fall below $US0.74 in the near-term.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S 500 INDEX, FTSE 100 INDEX, UNITED STATES. FEDERAL RESERVE BOARD, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, CITIGROUP PTY LTD, HSBC AUSTRALIA HOLDINGS PTY LTD, CAPITAL ECONOMICS LIMITED

Banks stare at low growth as pressures rise

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Original article by James Eyers
The Australian Financial Review – Page: 15 & 19 : 9-Nov-16

The combined cash earnings of Australia’s four major banks fell by 2.5 per cent in 2015-6, to $A29.6bn. They recorded net interest income growth of 5.5 per cent, to $A60.3bn, but non-interest income was down 3.1 per cent at $A23.5bn. Michael Rowland of KPMG says the banks are facing a number of headwinds, including the prospect of lower growth in revenue and return on equity, growing competition and an increase in regulatory costs.

CORPORATES
KPMG AUSTRALIA PTY LTD, 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, PM CAPITAL LIMITED, ERNST AND YOUNG

Recycling a way of life for Aussies…but that doesn’t necessarily mean we’re a nation of greenies

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 9-Nov-16

A Roy Morgan Single Source survey has found that 91.1 per cent of Australians aged 14+ agreed with the statement "I try to recycle everything I can" in the year to September 2016. This compares with 81.3 per cent in the year to September 2001. The survey also shows that Australians aged 14-17 remain the least likely to recycle (69.7 per cent in 2001 and 81.7 per cent now). The 65+ age group is still the most likely to recycle, rising from 89.2 per cent in 2001 to 93.8 per cent in 2016. Meanwhile, 63.2 per cent of Australians now agree that "At heart I’m an environmentalist", down from 68.8 per cent in 2001, while 26.1 per cent of the population now believes that "Threats to the environment are exaggerated", up from 22.2 per cent in 2001.

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ROY MORGAN RESEARCH LIMITED

Coal contract prices expected to stay high

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Original article by Peter Ker
The Australian Financial Review – Page: 15 & 20 : 9-Nov-16

The spot price of premium hard coking coal has risen to more than $US289 per tonne in early November 2016. Coal producers and buyers recently settled on a contract price of $US200/tonne for the December quarter. Whitehaven Coal CEO Paul Flynn says the spike in the spot price should ensure that contract prices rise again in the March 2017 quarter. He also anticipates a rise in the price of thermal and semi-soft coking coal.

CORPORATES
WHITEHAVEN COAL LIMITED – ASX WHC, MACQUARIE GROUP LIMITED – ASX MQG, GLENCORE PLC

Hotel chain ripped off migrant cleaners

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Original article by Ewin Hannan
The Australian – Page: 6 : 9-Nov-16

An audit undertaken by Oaks Hotels and Resorts revealed that 1,502 migrant workers were collectively underpaid some $A1.9m in the year to August 2016. The hotel chain undertook the audit after the Fair Work Ombudsman threatened to launch legal action over allegations of wage exploitation by an Oaks subsidiary, Housekeepers Pty Ltd. The company had deemed the migrant workers at 40 of its hotels to be independent contracts rather than employees. It initially provided 16 workers with some $A13,000 in back pay, but the FWO subsequently found that the underpayments had continued.

CORPORATES
OAKS HOTELS AND RESORTS LIMITED, HOUSEKEEPERS PTY LTD, AUSTRALIA. FAIR WORK OMBUDSMAN, UNITED VOICE, 7-ELEVEN STORES PTY LTD, CALTEX AUSTRALIA LIMITED – ASX CTX

ANZ-Roy Morgan Australian Consumer Confidence Rebounds – up 3.7pts to 117.8

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 9-Nov-16

ANZ-Roy Morgan Australian Consumer Confidence rose 3.2 per cent to 117.8 in the week ended 7 November 2016, entirely offsetting the decline over the previous two weeks. The bounce in consumer confidence was underpinned by a strong rise in the economic outlook sub-indices. Households’ view on economic conditions over the next 12 months jumped a sharp 7.8 per cent while views towards economic conditions over the next five years rose 5.2 per cent. Meanwhile, consumers’ views towards their finances compared with a year ago rose a solid 3.0 per cent, while households’ views towards their current finances edged 1.7 per cent higher

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Super shapes as an election issue yet again

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Original article by Phillip Coorey
The Australian Financial Review – Page: 8 : 9-Nov-16

The Federal Government’s superannuation tax reforms are set to be passed by parliament, after the Australian Labor Party agreed to back the measures. However, Labor will seek a mandate for further super tax reform at the next election after Treasurer Scott Morrison refused to support the Opposition’s proposed changes to the Government’s reforms. Amongst other things, the Australian Labor Party had sought to have non-concessional contributions capped at $A75,000 per year, rather than $A100,000 as proposed by the Government.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, FINANCIAL SERVICES COUNCIL

Clinton on edge of victory

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Original article by John Kehoe
The Australian Financial Review – Page: 1 & 13 : 9-Nov-16

Sharemarkets rallied on 8 November 2016, amid growing expectations that Democratic Party candidate Hillary Clinton will win the US presidential election. Public opinion polls suggest that Clinton will defeat Republican Party rival Donald Trump, although the result is likely to be very close. However, Trump remained confident of victory as he visited several states on the last day of campaigning for the election. An estimated 40 million Americans had voted prior to election day.

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DEMOCRATIC PARTY (UNITED STATES), REPUBLICAN PARTY (UNITED STATES), STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX, NIKKEI 225 INDEX, STANDARD AND POOR’S 500 INDEX, DOW JONES INDUSTRIAL AVERAGE INDEX, NASDAQ COMPOSITE INDEX, BMO CAPITAL MARKETS, REAL CLEAR POLITICS

Free-speech heat on Shorten

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Original article by David Crowe, Rachel Baxendale
The Australian – Page: 1 & 4 : 9-Nov-16

The joint parliamentary committee on human rights will report the findings of an inquiry into the Racial Discrimination Act by 28 February 2017. Federal cabinet opted to refer the issue to the committee, which will examine the impact of sections 18C and 18D on freedom of speech. It will also consider possible changes to the way complaints are handled by the Australian Human Rights Commission. Meanwhile, AHRC president Gillian Triggs has indicated that she is open to changes to section 18C.

CORPORATES
AUSTRALIA. JOINT PARLIAMENTARY COMMITTEE ON HUMAN RIGHTS, AUSTRALIAN HUMAN RIGHTS COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS

Media law changes rest in crossbenchers’ hands

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Original article by Primrose Riordan
The Australian Financial Review – Page: 9 : 9-Nov-16

Communications Minister Mitch Fifield has criticised the Australian Labor Party for its stance on cross-media owership reform. Labor will vote against legislation to abolish the "two-out-of-three rule", arguing that it will lead to greater consolidation in the media sector and reduced diversity of voices. Although Labor supports scrapping the "reach rule", the Government will need the support of at least eight Senate crossbenchers for its media reform bill.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NICK XENOPHON TEAM, FACEBOOK INCORPORATED, GOOGLE INCORPORATED, NETFLIX INCORPORATED