Author: roymorgansocial

ANZ-Roy Morgan Consumer Confidence up 1.6pts to 78.2 this week; fifth week in a row below 80 is the first time since 1990-91

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Original article by Roy Morgan
Market Research Update – Page: Online : 5-Apr-23

ANZ-Roy Morgan Consumer Confidence rose 1.6pts to 78.2 in the week to April 2; however, this is the fifth week in a row the index has been below the mark of 80 – the first time this has happened since the index began being conducted on a weekly rather than a monthly basis in October 2008. Consumer Confidence is now 15.2pts below the same week a year ago (93.4), and 3.5pts below the 2023 weekly average of 81.4. Consumer Confidence was mixed around the country this week; it was driven upwards by a significant increase in New South Wales following the state election, and it was also up in WA and SA. In contrast, Consumer Confidence was down in Victoria and Queensland. Now 19% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year, while 52% (unchanged) say their families are ‘worse off’ financially. Some 32% (up 2ppts) of Australians now expect their family to be ‘better off’ financially this time next year, while 35% (down 1ppt) expect to be ‘worse off’ financially. Only 6% (up 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 36% (down 4ppts) expect ‘bad times’. Meanwhile, 18% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 53% (unchanged) say now is a ‘bad time to buy’.

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

Rate pause to spur buyers back into market

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Original article by Nila Sweeney
The Australian Financial Review – Page: 31 : 5-Apr-23

SQM Research MD Louis Christopher says the firm believes that the cash rate has peaked following the Reserve Bank’s decision to leave it on hold at 3.6 per cent on Tuesday. He adds that the widely-anticipated rate pause could prompt buyers to return to the housing market, including renters and investors. Christopher adds that house prices could rise by 3-7 per cent nationwide in 2023 if the cash rate remains on hold. Tim Lawless of CoreLogic agrees that the rate pause could encourage vendors and buyers to return to the market.

CORPORATES
SQM RESEARCH PTY LTD, CORELOGIC AUSTRALIA PTY LTD, RESERVE BANK OF AUSTRALIA

RBA hits pause, for now

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Original article by Michael Read
The Australian Financial Review – Page: 1 & 4 : 5-Apr-23

Reserve Bank of Australia governor Philip Lowe has emphasised that the interest rate pause on Tuesday does not necessarily mean that the cash rate has peaked. He says the decision to leave rates on hold at 3.6 per cent in April will give the RBA board more time to assess the state of the economy and the outlook. Lowe added that further tightening of monetary policy may be needed to restore inflation to the target range of 2-3 per cent. Financial markets have now priced in a 22 per cent chance of a rate rise in May, compared with 40 per cent prior to the monthly board meeting. Economists say that inflation data for the March quarter will be a key factor in the RBA’s interest rates decision in May.

CORPORATES
RESERVE BANK OF AUSTRALIA

ABC to review use of TikTok after app banned from Australian government devices

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Original article by Josh Taylor
The Guardian Australia – Page: Online : 5-Apr-23

The federal government has joined its partners in the Five Eyes intelligence sharing network in banning the use of TikTok on government-issued mobile devices. However, the ban does not apply to government-owned entities such as the ABC, NBNCo and Australia Post. TikTok is among the social platforms on which the ABC publishes news content, and the public broadcaster will review its use of the popular app in the wake of the government’s decision. Australia Post is also reviewing its use of TikTok, while NBN Co has advised that it ceased using TikTok for corporate social media communications earlier in 2023 and will review it use by employees on company-issued devices.

CORPORATES
TIKTOK, AUSTRALIAN BROADCASTING CORPORATION, NBN CO LIMITED, AUSTRALIA POST

Big banks to miss future facing mining boom

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Original article by Elouise Fowler
The Australian Financial Review – Page: 27 : 5-Apr-23

Tribeca Investment Partners portfolio manager John Stover says Australia’s major banks are not prepared for the new commodities boom that is being driven by critical minerals. The four major banks’ combined lending to the resources sector peaked at $64.7bn in 2015, but data from Bridgend Capital Advisory shows that this has since fallen by $25bn. Stover notes that many banks significantly reduced their mining and resources teams when the last commodities boom ended; this has left them with a dearth of skills, particularly with regard to commodities that will be vital to the transition to a low-carbon economy.

CORPORATES
TRIBECA INVESTMENT PARTNERS PTY LTD, BRIDGEND CAPITAL ADVISORY

Telecommunications industry overtakes Social Media as the most distrusted industry

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Original article by Roy Morgan
Market Research Update – Page: Online : 5-Apr-23

For the first time since Roy Morgan began measuring trust and distrust in 2018, the telecommunications industry has emerged as the most distrusted industry in the entire economy, usurping the unenviable position from the social media industry. The recent woes of the telco industry have been driven primarily by the toxic levels of distrust that Optus experienced in the wake of its highly publicised data breach in September 2022. In the 12 months to February, Optus was the second most distrusted brand in the economy, with Telstra the third most distrusted. Facebook remains the most distrusted brand in the country despite slightly lower levels of distrust in recent months; however, Optus is closing in on the social media giant. The travel and tourism industry has also taken a fall in the industry Net Trust rankings, falling from 10th position to 13th, and now recording more distrust than trust. The industry has been brought down by heightened distrust of Qantas, which has faced negative press coverage over the past year. Qantas has fallen into Net Distrust territory for the first time this month, recording more distrust than trust. Insurance was the other industry to fall in the rankings, contributed to by continued high levels of distrust in Medibank, which is now the 7th most distrusted brand in the economy. The insurance industry is now more distrusted than the gambling industry.

CORPORATES
ROY MORGAN LIMITED, SINGTEL OPTUS PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, FACEBOOK, QANTAS AIRWAYS LIMITED – ASX QAN, MEDIBANK HEALTH SOLUTIONS PTY LTD

Mincor board backs Forrest’s $760m takeover bid

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Original article by Brad Thompson
The Australian Financial Review – Page: 15 : 5-Apr-23

Mincor Resources’ directors have recommended that shareholders accept the $1.40-per-share takeover offer from Wyloo Metals in the absence of a rival bid. The Andrew Forrest-backed Wyloo has increased its stake in nickel producer Mincor to 23.2 per cent, enabling it to prevent any rival bidder to move to the compulsory acquisition stage. There had been speculation that Wyloo’s takeover proposal could trigger rival bids for Mincor, whose board has indicated that it has held talks with third parties regarding potential interest in a bid. However, the board says that no alternative proposal is under consideration.

CORPORATES
MINCOR RESOURCES NL – ASX MCR, WYLOO METALS PTY LTD

ANZ-Roy Morgan Consumer Confidence down for a fourth straight week by 0.5pts to 76.5 – lowest since early April 2020

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-Mar-23

ANZ-Roy Morgan Consumer Confidence fell 0.5pts to 76.5 in the week to 19 March; this is the lowest rating since early April 2020, in the early days of the COVID-19 pandemic. Consumer Confidence is now 14.7pts below the same week a year ago (91.2), and 5.6pts below the 2023 weekly average of 82.1. Consumer Confidence was mixed around the country; it was up in Victoria, Western Australia and South Australia, but down in Queensland, and crucially down in New South Wales ahead of the election on Saturday. Now 19% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 52% (also unchanged) say their families are ‘worse off’ financially. Some 30% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year, while 37% (also unchanged) expect to be ‘worse off’ financially. Only 6% (unchanged) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 39% (up 1ppt) expect ‘bad times’. Meanwhile, 18% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 55% (up 2ppts) say now is a ‘bad time to buy’ (the highest figure for this indicator since early April 2020).

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

Lambie swings the vote on $10b housing fund

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 22-Mar-23

The federal government still hopes to pass its Housing Affordability Future Fund legislation before parliament rises next week. The prospects of getting the bill through the Senate have been boosted after the Jacqui Lambie Network flagged its potential support for the $10bn fund; however JLN senator Tammy Tyrrell says this will be conditional on a guarantee that some 1,200 of the HAFF’s 30,000 social and affordable rental homes will be built in Tasmania, the home state of both herself and party leader Jacqui Lambie. The government also requires the support of the Greens.

CORPORATES
JACQUI LAMBIE NETWORK, AUSTRALIAN GREENS

NSW Voting Intention: ALP lead over the L-NP increases in mid-March: ALP 53.5% cf. L-NP 46.5%

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-Mar-23

A special Roy Morgan SMS Poll on State voting intention in New South Wales shows the ALP on 53.5% (up 1% point since late February) ahead of the Liberal-National Coalition on 46.5% (down 1% point) in mid-March, with the state election to be held on Saturday. The ALP now has a primary vote of 34% (up 0.5% points since late February; the Liberal-National Coalition’s primary vote is also 34% (up 1.5% points), while 32% (down 2% points) of electors say they will vote for a minor party or independent candidate. Meanwhile, Labor leader Chris Minns has retained his lead as the ‘Better Premier’ on 52% (down 2% points since late February) over Premier Dominic Perrottet on 48% (up 2% points); however, the gap has closed slightly in recent weeks. This Roy Morgan SMS Poll on State voting intention was conducted via SMS with 1,013 New South Wales electors aged 18+ from March 10-14.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF NEW SOUTH WALES, NATIONAL PARTY OF AUSTRALIA