Author: roymorgansocial

RBA delivers Turnbull a pre-election rate cut

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Original article by Vesna Poljak
The Australian Financial Review – Page: 1 & 4 : 4-May-16

The Australian sharemarket gained 2.1 per cent on 3 May 2016, after the Reserve Bank reduced the cash rate by 25 basis points to a record low of 1.75 per cent in the wake of a downturn in inflation. The ANZ Bank is the only "big four" bank that is yet to confirm that it will respond by reducing its mortgage interest rates. Meanwhile, Westpac and the Commonwealth Bank expect another official interest rate cut in August, although Goldman Sachs forecasts that rates will remain on hold until November.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, STANDARD AND POOR’S ASX 200 INDEX, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

ALP in front but Election too close to call: ALP 51% cf. L-NP 49%; Roy Morgan Government Confidence falls to 98 – lowest since Turnbull became PM.

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 2-May-16

A multi-mode Morgan Poll on Federal voting intention has found that support for Australia’s ruling Liberal-National Coalition on a two-party preferred basis has risen by one per cent to 51 per cent. The poll, which was carried out on the weekends of 23-24 April and 30 April-1 May 2016, also shows that the Coalition’s primary vote has fallen by 0.5 to 40 per cent per cent, while the Roy Morgan Government Confidence Rating has fallen by one point to 98. Roy Morgan Research executive chairman Gary Morgan says the looming Federal Election means tomorrow’s Federal Budget is the Turnbull Government’s best chance to shape the narrative and lay out the ground on which this year’s Federal Election will be fought. The Government has clearly gone into "election-mode" already with the announcement last week of a $50 billion defence spending commitment to build 12 new Shortfin Barracuda submarines in South Australia – although under contract to French company DCNS.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, DIRECTION DES CONSTRUCTION NAVALES

Decathlon to take on Rebel in Australia’s $1.3 billion sporting equipment market

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

A Roy Morgan Single Source survey has found that 734,000 Australians aged 14+ (3.7 per cent) bought sporting equipment (not including sportswear and sporting footwear) in an average four weeks in the year to March 2016, spending a combined $A1,330m over the year. The survey also shows that Rebel Sport claimed $A254m (19 per cent) of this expenditure, ahead of Amart All Sports ($A50m), Sports Power ($A48m), and Kmart ($A44m).

CORPORATES
ROY MORGAN RESEARCH LIMITED, REBEL SPORT LIMITED, A-MART ALL SPORTS PTY LTD, SPORTS POWER, KMART AUSTRALIA LIMITED, BIG W DISCOUNT STORES, SUPER RETAIL GROUP LIMITED – ASX SUL, SPORTSCO PTY LTD, STADIUM SPORTS PTY LTD, ANACONDA STORES PTY LTD, ALDI STORES SUPERMARKETS PTY LTD, TARGET AUSTRALIA PTY LTD, EBAY INCORPORATED, DEALSDIRECT.COM.AU PTY LTD, DECATHLON

Over half Australia’s online clothing dollars now stay local – but men still buying more from overseas

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

A Roy Morgan Single Source survey has found that Australians aged 14+ spent an estimated $A2,414m on men’s and women’s clothing online in the year to December 2015. Australia-based sites (whether online-only stores or the web-stores of traditional bricks-and-mortar retailers) accounted for $A1,366m (56 per cent) of this expenditure, while $A1,048m (44 per cent) went overseas. The survey also shows that women spent over $A1bn on clothes through Australian online stores in 2015, compared with $A550m on international sites. Conversely, Australian men favour international sites for clothes shopping – although their total expenditure is only around half of that of women.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Warning over Peabody’s local mines

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Original article by Matt Chambers
The Australian – Page: 19 & 22 : 3-May-16

The auditor’s report in the latest financial accounts of Peabody Energy Australia Coal warns of doubts as to whether it can continue as a going concern. Its US-based parent, Peabody Energy Corporation, recently filed for bankruptcy protection with debts of $US6.3bn. The Australian business is not subject to the bankruptcy filing, but its financial accounts note that a $US250m inter-company loan facility may not be sufficient for all of Peabody Energy Australia’s cash outflows.

CORPORATES
PEABODY ENERGY AUSTRALIA COAL PTY LTD, PEABODY ENERGY CORPORATION, ERNST AND YOUNG, EXCEL COAL LIMITED, MACARTHUR COAL LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Westpac misses the profit mark

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Original article by Michael Bennet
The Australian – Page: 19 & 23 : 3-May-16

Shares in Australia’s major banks were sold down on 2 May 2016, after Westpac posted lower-than-expected cash earnings of $A3.9bn for the first half of 2015-16. This was three per cent higher than previously, but impairment charges rose by 96 per cent to $A667m and the bank’s return on equity fell to 14.2 per cent. CEO Brian Hartzer says Westpac will cease offering financial products that do not generate a sufficient return. Shareholders will receive an unchanged interim dividend of $A0.94 per share.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, ARRIUM LIMITED – ASX ARI, SLATER AND GORDON LIMITED – ASX SGH, UBS HOLDINGS PTY LTD, BELL POTTER SECURITIES LIMITED, ARNHEM INVESTMENT MANAGEMENT PTY LTD

Tax cut to 27.5pc for SMEs while big end of town waits

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Original article by Sid Maher
The Australian – Page: 1 & 4 : 3-May-16

The Australian Government’s May 2016 Budget will include a one per cent reduction in the small and medium enterprise tax rate, to 27.5 per cent. The lower tax rate is expected to apply to companies with turnover of up to $A5m, compared with a threshold of $A2m at present. Unincorporated businesses and sole traders are also expected to receive tax relief in the Budget. However, the tax rate for large companies will remain at 30 per cent, although the Government plans to progressively reduce it to 25 per cent.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

Tighter controls on super top-ups

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Original article by David Crowe
The Australian – Page: 1 & 4 : 3-May-16

The Australian Government’s May 2016 Budget will include new limits on personal contributions to superannuation funds and an increase in the tax on super contributions by people whose annual income exceeds $A250,000. The Budget will also feature superannuation measures for people on low incomes, as well as women who go on maternity leave. There will also be changes to the "transition to retirement" regime.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

House prices edge up in April

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 3 : 3-May-16

The CoreLogic RP Data Home Value index was 1.7 per cent higher in April 2016 than in March. House prices rose by 2.4 per cent in Sydney during April, while prices in Brisbane and Adelaide increased by 2.2 per cent and 2.0 per cent respectively. House prices in Melbourne rose by a more modest 1.1 per cent, but house prices declined in both Hobart and Darwin. Meanwhile, the gross rental yield for residential properties in the capital cities fell to a new low of 3.4 per cent in April.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, RESERVE BANK OF AUSTRALIA

Investors to get lead on smart play for May

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Original article by Jessica Sier
The Australian Financial Review – Page: 27 : 3-May-16

The Australian sharemarket gained 3.3 per cent in April 2016, but historical analysis shows that it has lost ground in the month of May in six of the last eleven years. A number of factors may influence the direction of the sharemarket in May, including the release of interim financial results in the banking sector, the outlook for commodity prices and the outcome of the Reserve Bank’s monthly monetary policy meeting.

CORPORATES
RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, STANDARD AND POOR’S ASX 200 INDEX, RIVKIN SECURITIES PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, WATERMARK FUNDS MANAGEMENT PTY LTD