Author: roymorgansocial

‘Stepping stone to growth’

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Original article by Phillip Coorey, John Kehoe
The Australian Financial Review – Page: 1 & 6 : 7-Oct-15

Australian businesses in a range of sectors will benefit from the Trans-Pacific Partnership, which will account for about 40 per cent of the global economy. Trade Minister Andrew Robb is hopeful that other nations will sign up to the Pacific Rim trade deal, after 12 nations reached agreement on the TPP on 6 October 2015. However, the trade deal must still be ratified by each nation, and there are concerns that it could be rejected by the US and Canadian legislatures.

CORPORATES
TRANS-PACIFIC PARTNERSHIP, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABORATORY SERVICES PTY LTD, NATIONAL PARTY OF AUSTRALIA, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, DEMOCRATIC PARTY (UNITED STATES), REPUBLICAN PARTY (UNITED STATES), AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, CHINA. MINISTRY OF COMMERCE

Gold stocks take off after gloomy report on US jobs

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Original article by Stephen Cauchi
The Australian Financial Review – Page: 31 : 6-Oct-15

Data showing that a lower-than-expected 142,000 jobs were created in the US during September 2015 has prompted a rally in the spot price of gold. It rose by 2.2 per cent to $US1,136 per ounce on 2 October, and in turn bolstered support for Australian-listed gold producers. Northern Star Resources rose by 5.9 per cent to a record $A2.85 on 5 October, while Newcrest Mining was 9.5 per cent higher at $A13.80. The jobs data has dampened expectations of a US interest rate rise in the near-term.

CORPORATES
NORTHERN STAR RESOURCES LIMITED – ASX NST, NEWCREST MINING LIMITED – ASX NCM, EVOLUTION MINING LIMITED – ASX EVN, BEADELL RESOURCES LIMITED – ASX BDR, UNITED STATES. FEDERAL RESERVE BOARD, RBC CAPITAL MARKETS, IG MARKETS LIMITED, STANDARD AND POOR’S ASX ALL ORDINARIES GOLD INDEX, BANK OF JAPAN, EUROPEAN CENTRAL BANK, SUMITOMO GLOBAL RESEARCH

Woodside urges South Korea to back Perth LNG project

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 13 & 18 : 6-Oct-15

The future of the proposed Browse LNG project in Western Australia is uncertain, because of the depressed oil price. Woodside Petroleum wants South Korea to increase its engagement in the project. Reinhardt Matisons, executive vice-president for marketing at Woodside, told South Korean business leaders on 2 October 2015 that the nation has an important role to play in terms of "cost reductions and LNG purchases".

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, SAMSUNG HEAVY INDUSTRIES COMPANY LIMITED, ROYAL DUTCH SHELL PLC, PETROCHINA COMPANY LIMITED, MIMI, MITSUI AND COMPANY LIMITED, MITSUBISHI AUSTRALIA LIMITED

Media reform unlikely to be a pot of gold

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Original article by Dominic White
The Australian Financial Review – Page: 16 : 6-Oct-15

Citigroup analyst Justin Diddams does not expect changes to cross-media ownership laws to result in industry mergers that will deliver increased value for investors. He argues that any such mergers would be primarily aimed at reducing costs and ensuring the survival of media companies. The Commonwealth Bank’s Alice Bennett says Nine Entertainment Company is the most likely metropolitan network to pursue a merger deal with a regional broadcaster.

CORPORATES
CITIGROUP PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, AUSTRALIA. DEPT OF COMMUNICATIONS, FAIRFAX MEDIA LIMITED – ASX FXJ, MACQUARIE RADIO NETWORK LIMITED – ASX MRN, CREDIT SUISSE (AUSTRALIA) LIMITED

Woolworths now cheaper than Coles for trolley of groceries: analyst

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Original article by Patrick Hatch
The Australian Financial Review – Page: 15 : 6-Oct-15

An analysis of grocery prices in Australian supermarkets shows that Costco has the lowest prices for 36 items. Morgan Stanley analyst Tom Kierath also found that the same items were 29 per cent more expensive at Woolworths. However, Coles’ prices were higher than those of Woolworths on 20 items, while its prices were lower on 13 products and the same on three products.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, COLES GROUP LIMITED, COSTCO WHOLESALE AUSTRALIA PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED

Strikers still eligible for productivity bonus

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Original article by Ewin Hannan
The Australian Financial Review – Page: 9 : 6-Oct-15

The full bench of the Fair Work Commission has rejected a bid by Thiess to overturn a previous ruling on the payment of a productivity bonus to coal miners who had gone on strike. The Construction, Forestry, Mining & Energy Union had argued that workers at the Mt Owen mine in New South Wales should be entitled to the productivity-linked component of a weekly allowance, despite being on strike for three months. The union had argued that an enterprise agrement did not specify any causes for non-payment of the bonus.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, THIESS PTY LTD, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA

RBA urged not to cut interest rate

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Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 6-Oct-15

The Reserve Bank of Australia’s "shadow board" believes that the cash rate should either be left at two per cent for the next six months or increased. Shadow board member Mark Crosby says economic reforms such as tax cuts would do more to stimulate the economy than further rate cuts. He adds that more rate cuts may increase the debt problem in Australia. Crosby also says the growing expectation that rates will soon rise in the US should prompt the Reserve Bank to leave rates on hold.

CORPORATES
RESERVE BANK OF AUSTRALIA, UNIVERSITY OF MELBOURNE, UNIVERSITY OF NEW SOUTH WALES, MACQUARIE UNIVERSITY, UNIVERSITY OF SYDNEY, UNIVERSITY OF TASMANIA, HSBC AUSTRALIA HOLDINGS PTY LTD, UNITED STATES. FEDERAL RESERVE BOARD, COMMONWEALTH SECURITIES LIMITED, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Sydney, Melbourne tipped to slow

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 40 : 6-Oct-15

Valuation firm Propell has forecast that growth in house prices in Sydney will slow to five per cent in the next year, after rising by 18.6 per cent in the last 12 months. Likewise, house price growth in Melbourne is tipped to slow from 11.5 per cent to five per cent. Meanwhile, apartment prices in Sydney and Melbourne are expected to increase by about five per cent and two per cent respectively.

CORPORATES
PROPELL NATIONAL VALUERS PTY LTD

Shorten locks in penalty rates as key election issue

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Original article by Misa Han
The Australian Financial Review – Page: 9 : 6-Oct-15

Federal Opposition Leader Bill Shorten has refuted suggestions that penalty rates contribute to unemployment in Australia. He has vowed to make penalty rates a major issue for the next federal election, after Workplace Relations Minister Michaelia Cash indicated that the Federal Government is likely to use the election to seek a mandate for changes to penalty rates and the industrial relations regime.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. DEPT OF FINANCE, LIBERAL PARTY OF AUSTRALIA

L-NP (56%) leads ALP (44%) – biggest lead for L-NP since June 2013 – a vote of confidence in Turnbull’s new Ministry

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 5-Oct-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 one per cent to 56 per cent. The poll, which was carried out on the weekends of 26-27 September and 4-5 October 2015, also shows that the Coalition’s primary vote has risen by one per cent to 47 per cent, while the Roy Morgan Government Confidence Rating has risen by six points to 109 points.

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, 7-ELEVEN STORES PTY LTD, AUSTRALIA. FAIR WORK COMMISSION