Author: roymorgansocial

Trump’s surge spooks markets

roymorgansocial Leave a comment

Original article by Cameron Stewart, David Rogers
The Australian – Page: 1 & 10 : 3-Nov-16

Sharemarkets in Australia and Asia were sold down on 2 November 2016, after an ABC News/Washington Post poll showed that US presidential candidate Donald Trump now has a one percentage point lead over Hillary Clinton. The RealClear Politics average of polls also shows that Trump has significantly narrowed Clinton’s lead in the last week. Westpac economists have warned that a Trump victory could have a bigger impact on global financial markets than the UK’s Brexit referendum.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, NIKKEI 225 INDEX, HANG SENG INDEX, SHANGHAI COMPOSITE INDEX, KOSPI INDEX, WESTPAC BANKING CORPORATION – ASX WBC, WILSON ASSET MANAGEMENT, REPUBLICAN PARTY (UNITED STATES), DEMOCRATIC PARTY (UNITED STATES)

Power a risk for Olympic game plan

roymorgansocial Leave a comment

Original article by Michael Owen
The Australian – Page: 8 : 2-Nov-16

Mike Henry, the head of BHP Billiton’s iron ore and coal operations in Australia, says the resources giant will not proceed with an open-cut expansion of its Olympic Dam mine in South Australia. He adds that BHP may expand the existing underground mine, but he cautions that any further investment may be affected by uncertainty regarding the state’s electricity supply and the cost of electricity. Production at Olympic Dam was disrupted by the state-wide power outage in September 2016.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, ELECTRANET SA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Early birds win big as bookies take a bruising

roymorgansocial Leave a comment

Original article by Rick Wallace
The Australian – Page: 6 : 2-Nov-16

Tabcorp estimates that about $A95m was wagered on the 2016 Melbourne Cup via its TAB outlets in Victoria and New South Wales. Meanwhile, Sportsbet is said to have taken about $A25m worth of bets on the race, compared with $A20m in 2015. It paid out $A13.6m to punters who backed Cup winner Almandin. One Sportsbet customer won $A241,000 on a $A10 bet after correctly picking the first four horses to pass the winning post.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, SPORTSBET AUSTRALIA, UBET, CROWNBET PTY LTD, THE EMIRATES MELBOURNE CUP

Sydney houses cement price growth

roymorgansocial Leave a comment

Original article by Su-Lin Tan
The Australian Financial Review – Page: 4 : 2-Nov-16

Data from CoreLogic shows that house prices in Sydney increased by 10.2 per cent year-on-year in October 2016. House prices in Sydney also rose by more than 10 per cent year-on-year in September, after recording single-digit growth since February. Tim Lawless of CoreLogic says the Reserve Bank is likely to adopt a cautious approach to further easing of monetary policy due to rising house prices and high auction clearance rates in Sydney and Melbourne.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RESERVE BANK OF AUSTRALIA, SQM RESEARCH PTY LTD, STANDARD AND POOR’S CORPORATION, MOODY’S INVESTORS SERVICE INCORPORATED

Aldi sees plenty of growth to come

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 19 & 20 : 2-Nov-16

The Australian market share of German supermarket chain Aldi is currently less than 10 per cent, although local CEO Tom Daunt believes that the group can lift this to 14-15 per cent within the next several years. He also concedes that growth in store numbers across the eastern states will slow in coming years. Daunt stresses that Aldi will maintain its policy of having the lowest grocery prices, while the group intends to refurbish all of its existing east coast stores in order to be competitive in the fresh food segment of the grocery market.

CORPORATES
ALDI STORES SUPERMARKETS PTY LTD, COLES SUPERMARKETS AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW

ABC plan to ramp up iView output

roymorgansocial Leave a comment

Original article by Darren Davidson
The Australian – Page: 5 : 2-Nov-16

The ABC’s 2017 TV program line-up will include a number of new drama shows and documentaries, while it has confirmed new seasons of 16 current shows. The public broadcaster will also produce some 200 hours of original content for its iView video-on-demand service. ABC MD Michelle Guthrie recently stressed the need for the broadcaster to adapt in response to changes in the way viewers consume media.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION

Senate chaos as Day challenged

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 2-Nov-16

The High Court will be asked to rule on the validity of Family First senator Bob Day’s re-election, due to concerns about the receipt of rent payments from the Federal Government for his electoral office. Day has a pecuniary interest in the property in question, and the court may order a recount if his re-election is deemed to have been unconstitutional. This could affect the Coalition’s prospects of passing its industrial relations reforms in the Senate, as Day has generally sided with the Government. Meanwhile, Day has resigned from the Senate with immediate effect, after a deal to bail out his home building firm collapsed.

CORPORATES
FAMILY FIRST PARTY AUSTRALIA LIMITED, HIGH COURT OF AUSTRALIA, COURT OF DISPUTED RETURNS, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, NUCLEAR DISARMAMENT PARTY

ANZ’s Whelan will divest Asian bank stakes next

roymorgansocial Leave a comment

Original article by Lisa Murray
The Australian Financial Review – Page: 13 & 17 : 2-Nov-16

The ANZ Bank will further scale back its presence in Asia after securing a deal to offload some of its retail banking and wealth management assets in the region. Mark Whelan, the head of institutional banking, says ANZ is making progress on selling some of its minority stakes in four Asian banks. He says these stakes are deemed to be non-core assets, but he stresses that ANZ is "reshaping" its Asian operations rather than withdrawing from the region. ANZ CEO Shayne Elliott has signalled that institutional banking will be the focus of its Asian operations.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, SHANGHAI RURAL COMMERCIAL BANK, BANK OF TIANJIN COMPANY LIMITED, PT BANK PAN INDONESIA TBK, AMMB HOLDINGS BHD, DBS BANK LIMITED

Forrest branches into oil and gas

roymorgansocial Leave a comment

Original article by Paul Garvey
The Australian – Page: 19 & 20 : 2-Nov-16

Goshawk Energy and a company owned by Fortescue Metals Group founder Andrew Forrest have applied for oil and gas exploration permits covering about 220,000 square kilometres in Western Australia’s onshore Canning Basin. Forrest has applied for the permits via Squadron Energy, which is a subsidiary of Minderoo. A spokeswoman for Minderoo says the company is not currently considering the use of fracking in the Canning Basin, but environmental groups have urged Forrest to rule out using the technology.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, SQUADRON ENERGY, MINDEROO PTY LTD, GOSHAWK ENERGY PTY LTD, BURU ENERGY LIMITED – ASX BRU, ENVIRONS KIMBERLEY, HANCOCK PROSPECTING PTY LTD, MINERAL RESOURCES LIMITED – ASX MIN, AUSTRALIAN LABOR PARTY, CONOCOPHILLIPS, APACHE CORPORATION, HESS CORPORATION, PETROCHINA COMPANY LIMITED, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, LAKES OIL NL – ASX LKO, EMPIRE OIL AND GAS NL – ASX EGO

ANZ-Roy Morgan Australian Consumer Confidence edges higher, but details remain soft

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 2-Nov-16

ANZ-Roy Morgan Australian Consumer Confidence edged 0.4% higher in the week ending 30 October 2016, after a sharp fall in the previous week. Consumers’ views towards their future finances bounced a solid 4.3%, but that only partially offset the sharp drop the previous week. Meanwhile, views towards finances compared to a year ago declined for the fifth week in a row, down 1.1%. Households’ view on the economic conditions over the next 12 months dipped a sharp 3.2%, while views towards economic conditions over the next 5 years fell 1.6%.

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