Author: roymorgansocial

ASX has 6000 points in its sight

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Original article by Sally Rose
The Australian Financial Review – Page: 20 : 23-Feb-15

The S&P/ASX 200 shed 0.4 per cent on 20 February 2015, closing at 5,881.5 points. However, the Australian sharemarket has gained 8.7 per cent so far in 2015, and the benchmark index reached a year-to-date high of 5,915.7 on 18 February. There is agreement among six equities strategists that the S&P/ASX 200 will soon breach the 6,000-point level, although they do not expect it to reach the record high of 6,828.7 for another 2-3 years

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, DEUTSCHE BANK AG, PERPETUAL LIMITED – ASX PPT, RESERVE BANK OF AUSTRALIA, PEOPLE’S BANK OF CHINA, MACQUARIE RESEARCH EQUITIES, MACQUARIE BANK LIMITED – ASX MBL, TOLL HOLDINGS LIMITED – ASX TOL, JAPAN POST, AMP CAPITAL INVESTORS LIMITED, UBS WEALTH MANAGEMENT AUSTRALIA LIMITED, MLC LIMITED, STANDARD AND POOR’S ASX ALL ORDINARIES ACCUMULATION INDEX, STANDARD AND POOR’S 500 INDEX

BHP under pressure to lift returns

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Original article by Amanda Saunders
The Australian Financial Review – Page: 18 : 23-Feb-15

BHP Billiton has not reduced its dividend since 1988, and analysts generally agree that a reduced payout is unlikely when the resources giant releases its 2014-15 interim results on 24 February 2015. Paul Young of Deutsche Bank does not expect BHP to increase its dividend for at least another two years, arguing that it should focus on growth rather than improving returns to shareholders. Paul McTaggart of Credit Suisse also says a share buyback is unlikely in the next several years

CORPORATES
BHP BILLITON LIMITED – ASX BHP, DEUTSCHE BANK AG, CREDIT SUISSE (AUSTRALIA) LIMITED, SOUTH32 LIMITED

Attestation: a word to make bankers tremble

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Original article by James Eyers
The Australian Financial Review – Page: 16 : 23-Feb-15

The Financial Conduct Authority in the UK is increasingly using so-called attestations to make bank executives and managers personally accountable for misconduct within the financial institution. Jonny Gordon of law firm Ashurst suggests that the Australian Securities & Investments Commission could also eventually begin using attestations

CORPORATES
GREAT BRITAIN. FINANCIAL CONDUCT AUTHORITY, ASHURST AUSTRALIA, ASHURST LLP, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, CLYDESDALE BANK PLC, YORKSHIRE BANK PLC

Telstra reshuffle likely as Thodey departs

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Original article by David Ramli
The Australian Financial Review – Page: 15 : 23-Feb-15

Analysts have suggested that senior executives at Telstra could leave the telco after being overlooked as the successor to CEO David Thodey. CFO Andy Penn will replace Thodey on 1 May 2015, but the telco has a number of senior executive who have the potential to be CEO, and there is speculation that some may leave to pursue CEO roles elsewhere. Meanwhile, Cynthia Whelan and Mark Hall are regarded as the most likely internal candidates to replace Penn as CFO

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, IINET LIMITED – ASX IIN, TPG TELECOM LIMITED – ASX TPM, SINGTEL OPTUS PTY LTD, SINGAPORE TELECOMMUNICATIONS LIMITED – ASX SGT

Toll rivals say JP sale poses sovereign risk

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 13 & 18 : 23-Feb-15

One Global Logistics MD James Sparke has warned of potential sovereign risk issues associated with government-owned Japan Post’s takeover bid for Toll Holdings. Meanwhile, Toll CEO Brian Kruger does not expect any of the group’s customers to enforce the "change of control" provisions of their contracts if the $A6.5bn takeover bid proceeds. The deal requires approval from the Foreign Investment Review Board

CORPORATES
TOLL HOLDINGS LIMITED – ASX TOL, JAPAN POST, ONE GLOBAL LOGISTICS PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIAN DEFENCE FORCE, UNITED STATES NAVY, CHEVRON CORPORATION, ORICA LIMITED – ASX ORI, BARRICK GOLD CORPORATION, WOOLWORTHS LIMITED – ASX WOW, NIKE INCORPORATED, OFFICE DEPOT INCORPORATED, FISHER AND PAYKEL APPLIANCES HOLDINGS LIMITED, AUSTRALIA. DEPT OF THE TREASURY, ARCHER DANIELS MIDLAND COMPANY, GRAINCORP LIMITED – ASX GNC, HUAWEI TECHNOLOGIES COMPANY LIMITED, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA POST, STAR TRACK EXPRESS PTY LTD, LINCOLN INDICATORS PTY LTD

Mike Baird set to be re-elected Premier in NSW next month. Palaszczuk’s Queensland Election victory reveals fresh ‘gender split’ in Queensland

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 20-Feb-15

A special SMS Morgan Poll on State voting intention has found that New South Wales Premier Mike Baird has a 33 per cent lead over Opposition Leader Luke Foley as preferred premier, which is five per cent lower than the poll of 16-18 January 2015. The Coalition has 55 per cent support on a two-party preferred basis, an increase of 1.5 per since the last poll. In Queensland, Premier Annastacia Palaszczuk has a five per cent lead over Opposition Leader Lawrence Springborg as preferred premier. Roy Morgan Research CEO Michele Levine says New South Wales Premier Mike Baird is set to be easily re-elected at the March 2015 state election, but notes that there has been a swing of 8.7 per cent to the Australian Labor Party since the last election

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF VICTORIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, VICTORIA. DEPT OF PREMIER AND CABINET, LIBERAL PARTY OF NEW SOUTH WALES, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, LIBERAL-NATIONAL PARTY OF QUEENSLAND, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, LIBERAL PARTY OF WESTERN AUSTRALIA, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, LIBERAL PARTY OF SOUTH AUSTRALIA, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, LIBERAL PARTY OF TASMANIA, TASMANIA. DEPT OF PREMIER AND CABINET, AUSTRALIAN GREENS, PALMER UNITED PARTY, CHRISTIAN DEMOCRATIC PARTY, COUNTRY ALLIANCE, KATTER’S AUSTRALIAN PARTY, FAMILY FIRST PARTY AUSTRALIA LIMITED

Calls for wider inquiry into financial planning

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Original article by Clancy Yeates, Adele Ferguson
The Australian Financial Review – Page: 13 & 16 : 23-Feb-15

The Australian Government is likely to face increased pressure to hold an inquiry in the wake of a new controversy involving financial planners. It has been revealed that 750 customers of National Australia Bank have received compensation for poor advice from its investment advisers over the last five years. Several senators have urged the Government to undertake a royal commission, while Australian Consumers’ Association spokeswoman Erin Turner says there is need for greater transparency in dealing with such scandals

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN CONSUMERS’ ASSOCIATION, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, JBWERE LIMITED, MERITUM FINANCIAL GROUP PTY LTD

Tatts launches new lottery

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Original article by Jessica Gardner
The Australian Financial Review – Page: 18 : 20-Feb-15

Tatts Group has posted a 2014-15 interim profit of $A139.2m, which is 14.6 per cent higher than previously. The lotteries division’s EBITDA of $A161.1m was 2.4 per cent higher, and revenue grew by 1.3 per cent to $A1.01bn. The wagering division’s EBITDA and revenue increased by 6.4 per cent and 0.4 per cent respectively. Meanwhile, Tatts will launch a new lottery product called "Set for Life"

CORPORATES
TATTS GROUP LIMITED – ASX TTS, CITIGROUP PTY LTD

Coal prices ‘unlikely’ to recover in 2015

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Original article by Stephen Cauchi
The Australian Financial Review – Page: 23 : 20-Feb-15

ANZ Bank analysts Mark Pervan and Rajneet Kaur are bearish about the long-term outlook for the price of coal. ANZ has downgraded its forecast for coking coal to $US115 per tonne at the end of 2015 and $US130/per tonne at the end of 2018. It is currently trading at around $US117/tonne. Australia exported $A22.9bn worth of coking coal in 2013

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Survey paints a dire picture

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Original article by Edmund Tadros
The Australian Financial Review – Page: 33 : 20-Feb-15

A survey by the Survive Law website shows that stress is a major issue for most Australian law students. The online survey found that nearly 50 per cent of respondents had contemplated quitting their degree due to stress. Kat Crossley, the website’s editor, notes that the limited job opportunities for law graduates is also a major issue. Melbourne Law School dean Carolyn Evans adds that the challenging graduate job market is an issue for all university students

CORPORATES
SURVIVE LAW, UNIVERSITY OF MELBOURNE. LAW SCHOOL, COUNCIL OF AUSTRALIAN LAW DEANS, UNIVERSITY OF NEW SOUTH WALES, AUSTRALIAN LAW STUDENTS’ ASSOCIATION