Author: roymorgansocial

Latest Star Wars movie to break Australia’s box office records

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Original article by Dominic White, Max Mason
The Australian Financial Review – Page: 3 : 17-Dec-15

Hoyts Cinemas CEO Damian Keogh says the new "Star Wars" film could potentially be the highest-grossing film in Australia of all time. More than $A15m worth of tickets for "Star Wars: The Force Awakens" were sold prior to its cinema debut, and Keogh says the film’s total box office takings could exceed $A100m. "Avatar" holds the Australian box office record, with its takings exceeding $A115m.

CORPORATES
HOYTS CINEMAS LIMITED, VILLAGE ROADSHOW LIMITED – ASX VRL, WALT DISNEY COMPANY, LUCASFILM

ANZ-Roy Morgan Australian Consumer Confidence: A Cheerier Christmas

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 15-Dec-15

The ANZ-Roy Morgan Consumer Confidence rating for Australia fell by 0.8 per cent to 115.4 in the week ended 13 December 2015, consolidating after the 3.1 per cent bounce in the previous week. Confidence remains well above levels seen last Christmas (up 4.7 per cent compared with this time last year), and is still above its long- run average. The decline was relatively broad-based, with confidence in financial conditions falling by 2.6 per cent and the economic outlook down 1.3 per cent. Roy Morgan Research executive chairman Gary Morgan says the Turnbull Government has injected confidence in the economy, but the end of the commodities boom is only now starting to have an impact on the Australian economy. Unless real action is taken to get the private sector moving consumer confidence will deteriorate in 2016. Tax reform alone will be of limited value while significant sectors of the economy, such as the cost of the Public Sector and the "cash economy", are immune.

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

L-NP increases lead over ALP – now 57.5% cf. 42.5%; biggest lead for Coalition since being elected in 2013

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 15-Dec-15

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 1.5 per cent to 57.5 per cent. The poll, which was carried out on the weekends of 5-6 and 12-13 December 2015, also shows that the Coalition’s primary vote has risen by 1.5 per cent to 48 per cent, but the Roy Morgan Government Confidence Rating has fallen by seven points to 115. Roy Morgan Research executive chairman Gary Morgan says the scale of the Budget blowout in the Mid-Year Economic and Fiscal Outlook shows that the Turnbull Government faces a challenging 12 months as it attempts to win a mandate in its own right at the 2016 Federal Election whilst also steering the Australian economy through a slowing economy caused by the end of the long-running commodities boom.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, KATTER’S AUSTRALIAN PARTY, PALMER UNITED PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY

Apartment crunch tipped for two cities

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Original article by Robert Harley
The Australian Financial Review – Page: 33 : 16-Dec-15

A new report from the Commonwealth Bank warns of a looming apartment glut in the Melbourne and Brisbane CBDs from 2016, when a large number of apartment projects are slated for completion. The CommBank Property Insights report notes that about 80,000 apartments are under construction in Australia’s major capital cities, while an additional 117,000 have been proposed.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Activists fail to block Adani’s mine

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Original article by Mark Ludlow
The Australian Financial Review – Page: 15 : 16-Dec-15

The Land Court of Queensland has recommended that the State Government grant a mining lease to Adani for its proposed Carmichael coal mine. However, Land Court president Carmel MacDonald added that the mine’s approval should be subject to a number of conditions, and concluded that the economic benefits of the $A16.5bn project would be greater than its environmental impact. Environmentalists have sought to block the project.

CORPORATES
ADANI ENTERPRISES LIMITED, LAND COURT OF QUEENSLAND, CITIGROUP PTY LTD, INSTITUTE FOR ENERGY ECONOMICS AND FINANCIAL ANALYSIS, ENVIRONMENTAL DEFENDERS OFFICE LIMITED

Rio secures $6.1b finance package for Oyu Tolgoi mine

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 : 16-Dec-15

Rio Tinto directors are expected to approve the proposed expansion of its Oyu Tolgoi gold and copper mine in Mongolia by mid-2016, after the resources group secured financing for the project. Rio Tinto has finalised the funding deal with a consortium of 15 international banks and five export credit agencies, which will enable it to proceed with an underground expansion of the open pit mine. Tolgoi’s annual output is slated to be 500,000 tonnes of copper and up to 600,000 ounces of gold when the expanded project reaches full capacity.

CORPORATES
RIO TINTO LIMITED – ASX RIO, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, BNP PARIBAS SA, ING BANK NV, SOCIETE GENERALE, SUMITOMO MITSUI BANKING CORPORATION, STANDARD CHARTERED BANK PLC, CANADIAN IMPERIAL BANK OF COMMERCE, CREDIT AGRICOLE SA, INTESA SANPAOLO SPA, NATIXIS SA, HSBC BANK PLC, MITSUBISHI TOKYO FINANCIAL GROUP INCORPORATED, TURQUOISE HILL RESOURCES LIMITED, WORLD BANK, INTERNATIONAL FINANCE CORPORATION, EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT

Coalition gives up on surplus

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 16-Dec-15

The Australian Government’s Mid-Year Economic and Fiscal Outlook forecasts that the 2015-16 Budget deficit will blow out to $A37.4bn, compared with expectations of $A35.1bn in May. The deficit will also be higher than expected in the following three fiscal years, while GDP growth forecasts have been reduced for both 2015 and 2016. Meanwhile, the worsening Budget deficit may prompt ratings agencies to review Australia’s triple-A credit rating, although Stephen Walters of JP Morgan says this is unlikely in the near-term.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, JP MORGAN AUSTRALIA LIMITED, STANDARD AND POOR’S CORPORATION, AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA

Qantas shares bumper profit with investors

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Original article by Jamie Freed
The Australian Financial Review – Page: 13 & 18 : 16-Dec-15

Qantas expects a 2015-16 interim underlying pre-tax profit of $A875m to $A925m, compared with $A367m for the previous corresponding period. The airline has benefited from factors such as lower fuel prices, higher revenue and cost reductions in the current half-year. CEO Allan Joyce has signalled that Qantas will look at returning surplus cash to shareholders in the next several years, while Matthew Spence of Merrill Lynch expects the carrier to launch a share buyback with the release of its half-year accounts.

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, MERRILL LYNCH (AUSTRALIA) PTY LTD, JETSTAR AIRLINES PTY LTD, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, WOOLWORTHS LIMITED – ASX WOW, BP AUSTRALIA LIMITED

Ten delays on third billionaire nominee

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Original article by Dominic White
The Australian Financial Review – Page: 23 : 16-Dec-15

Lachlan Murdoch and Gina Rinehart are expected to retain their nominees on the new six-person board of Ten Network. The free-to-air broadcaster has allocated three seats to representatives of its four billionaire shareholders. However, Ten is not keen to appoint a nominee of WIN Corporation owner Bruce Gordon, as he also holds a stake in Nine Entertainment Company. WIN’s affiliation agreement with Nine ends on 31 December 2015, and Nine is seeking an increase in WIN’s advertising revenue under a new deal.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, WIN CORPORATION PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, BIRKETU PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SEVEN NETWORK LIMITED, PRIME MEDIA GROUP LIMITED – ASX PRT, FOXTEL MANAGEMENT PTY LTD, HANCOCK PROSPECTING PTY LTD

RBA’s Stevens sees hope in jobs growth

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 8 : 16-Dec-15

The Reserve Bank of Australia reduced its economic growth forecast in November 2015, but governor Glenn Stevens does not believe another downgrade is needed in the near-term. Stevens has also given indications that further interest rate cuts may not be necessary in the current monetary policy cycle, noting that the unemployment rate is well below the central bank’s expectations earlier in 2015. He adds that the downturn in commodity prices may put further downward pressure on the Australian dollar.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN BUREAU OF STATISTICS, UNITED STATES. FEDERAL RESERVE BOARD