Author: roymorgansocial

Nick Xenophon Team looks likely to nick L-NP seats of Mayo & Grey

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Original article by Roy Morgan Research
Market Research Update – Page: online : 17-Jun-16

The popularity of the Nick Xenophon Team (NXT) in South Australia (SA) has changed the political scene in that state. NXT is likely to pose a serious challenge to bigger parties at the 2016 Federal election. Roy Morgan Research executive chairman Gary Morgan says extensive analysis of Roy Morgan voting trends in SA seats over the past two months shows NXT is likely to win two seats held by the Coalition – Grey and Mayo. NXT is also likely to influence the results in SA’s nine other seats.

CORPORATES
ROY MORGAN RESEARCH LIMITED, NICK XENOPHON TEAM, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Taxes may hit foreign developers

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 3 : 16-Jun-16

Frasers Property Australia CEO Rod Fehring has warned about unintended consequences of new charges applying to residential property acquired by foreign buyers. New stamp duty and land tax surcharges are being introduced in New South Wales, Victoria and Queensland. Fehring fears that the new charges could also affect foreign-owned property developers.

CORPORATES
FRASERS PROPERTY AUSTRALIA PTY LTD, AUSTRALAND PTY LTD, FRASERS CENTREPOINT LIMITED, PITCHER PARTNERS CORPORATE ADVISORY PTY LTD, NEW SOUTH WALES TREASURY. OFFICE OF FINANCIAL MANAGEMENT, NEW SOUTH WALES TREASURY. OFFICE OF STATE REVENUE, MERITON APARTMENTS PTY LTD

Pressure on lower grade iron ore miners as discount widens

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Original article by Tess Ingram, James Thomson
The Australian Financial Review – Page: 17 : 16-Jun-16

The benchmark spot price of iron ore has shed 23 per cent since the start of May 2016. Meanwhile, the discount on lower-grade iron ore has increased from 9.8 per cent in early January to 21 per cent in mid-June, after peaking at 26 per cent in late May. Peter O’Connor of Shaw & Partners says the widening price discount is having a big impact on producers of lower-grade iron ore.

CORPORATES
SHAW AND PARTNERS LIMITED, FORTESCUE METALS GROUP LIMITED – ASX FMG, MORNINGSTAR PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

InterOil AGM voting stirs deal worries

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 & 20 : 16-Jun-16

InterOil’s former CEO Phil Mulacek has failed in his bid for a board spill, although he received a high level of support at the takeover target’s 2016 AGM. Some 31 per cent of votes cast backed his stance, and Oil Search’s $US2.2bn takeover bid will fail if 33 per cent of InterOil shareholders vote against it on 28 July. Oil Search CEO Peter Botten intends to hold further meetings with InterOil’s shareholders in the lead-up to the vote.

CORPORATES
OIL SEARCH LIMITED – ASX OSH, INTEROIL CORPORATION, TOTAL SA, CAPITAL GROUP COMPANIES INCORPORATED, EXXONMOBIL CORPORATION

Labor’s proposed environmental approval laws a ‘disaster’

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Original article by Primrose Riordan
The Australian Financial Review – Page: 7 : 16-Jun-16

The Federal Opposition has been criticised over its proposal to reverse reforms that gave state governments increased responsibility for granting environmental approval for major projects. Northern Territory Treasurer David Tollner warns that the policy would result in job losses in industries such as agriculture and construction. New South Wales Environment Minister Mark Speakman has also expressed concern about the policy, although it is supported by Queensland Environment Minister Steven Miles.

CORPORATES
AUSTRALIAN LABOR PARTY, NORTHERN TERRITORY. DEPT OF THE TREASURY, NEW SOUTH WALES. DEPT OF PLANNING AND ENVIRONMENT, QUEENSLAND. DEPT OF ENVIRONMENT AND HERITAGE PROTECTION, TASMANIA. DEPT OF PRIMARY INDUSTRIES, WATER AND ENVIRONMENT, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE ENVIRONMENT

Virgin’s $1b rescue plan

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Original article by Michael Smith, James Thomson
The Australian Financial Review – Page: 1 & 10 : 16-Jun-16

Virgin Australia Holdings will seek to reduce costs by $A300m a year via a restructuring program, which will include phasing out some smaller planes and job cuts at management level. Virgin will also raise $A852m from shareholders via a rights issue at $A0.21 per share, compared with the stock’s closing price of $A0.26 on 15 June 2016. China-based HNA Group recently invested $A159m in Virgin, which aims to commence flights to China and Hong Kong.

CORPORATES
VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, HNA GROUP, SINGAPORE AIRLINES LIMITED, VIRGIN GROUP LIMITED, NANSHAN GROUP, ETIHAD AIRWAYS, TRANSPORT WORKERS’ UNION, AIR NEW ZEALAND LIMITED – ASX AIZ, CITIGROUP PTY LTD

Packer bid to unlock Crown value

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Original article by James Thomson, Perry Williams, John Stensholt
The Australian Financial Review – Page: 1 & 10 : 16-Jun-16

The board of Crown Resorts has proposed to restructure the Australian-listed company. The new corporate structure involves the creation of an international holding company which will hold Crown’s stakes in Melco Crown, a US casino and hotel, the Nobu restaurant chain, British casino operator Aspers and Caesars Growth Partners. Crown Resorts will retain its existing local assets, which include casinos and hotels in Melbourne and Perth, the Barangaroo project in Sydney, Betfair Australasia, and stakes in Crownbet and the Ellerston resort in New South Wales. A listed property trust will also be created.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, MELCO CROWN ENTERTAINMENT LIMITED, CONSOLIDATED PRESS HOLDINGS LIMITED, ALON, NOBU, CAESARS GROWTH PARTNERS, ASPERS, BETFAIR AUSTRALASIA PTY LTD, CROWNBET PTY LTD, CROWN TOWERS, CONSOLIDATED PRESS HOLDINGS LIMITED

No deal vow as Tanya takes aim at Greens

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Original article by David Crowe, Mark Coultan
The Australian – Page: 8 : 16-Jun-16

The Federal Government has launched a new advertising campaign in which it claims that the Opposition will seek an alliance with the Australian Greens and independents to form government. However, Opposition Leader Bill Shorten has ruled out an alliance with the Greens, while Deputy Leader Tanya Plibersek says the Greens’ election campaign is actively targeting the Australian Labor Party rather than the Coalition. She adds that there is lack of agreement within the Greens on some key issues.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, DEMOCRATIC LABOR PARTY

Turnbull under pressure to give Abbott a ministry

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 16-Jun-16

Conservatives within the Liberal Party of Australia are likely to insist on playing a bigger role in government if the Coalition is re-elected on 2 July 2016. Prime Minister Malcolm Turnbull said he would not give a ministerial portfolio to former prime minister Tony Abbott, and the latter stated that he did not expect such an offer. However, his colleagues say that Abbott will accept a ministerial position if offered.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIAN LABOR PARTY

Stocks most at risk if Britain leaves the EU

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Original article by Jessica Sier
The Australian Financial Review – Page: 27 : 16-Jun-16

Australian-listed companies that derive some of their earnings in the British pound may be affected if the UK opts to exit the European Union. Henderson Group has already been heavily sold down in the lead-up to the referendum, while other stocks that could potentially fall include CYBG and Westfield Corporation. However, Paul Taylor of Fidelity says a "Brexit" would result in a global sell-off, rather than the targeting of individual stocks.

CORPORATES
HENDERSON GROUP PLC – ASX HGG, CYBG PLC – ASX CYB, WESTFIELD CORPORATION – ASX WFD, COMPUTERSHARE LIMITED – ASX CPU, IRESS LIMITED – ASX IRE, FIDELITY INVESTMENTS AUSTRALIA LIMITED, CLYDESDALE BANK PLC, YORKSHIRE BANK PLC, UBS HOLDINGS PTY LTD