Author: roymorgansocial

ANZ-Roy Morgan Consumer Confidence jumps to 114.7

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 2-Oct-19

ANZ-Roy Morgan Australian Consumer Confidence rose 4.2% to 114.7 in the week ended 29 September, closing above its long-term average. Households’ views towards current financial conditions rose 6.9% and remain above the long-run average, while views towards future financial conditions gained 5.9%; both subindices remain above their long-term averages. Consumers’ views toward current economic conditions rose 3.5%, and views towards future economic conditions gained 5.7%; despite the jump, both subindices remain below their long-term averages. The ‘time to buy a major household item’ index rose 7.1% after falling to a 10-year low in the previous week, and it remains well below its long run average. Inflation expectations were unchanged at 4.1%.

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

Building Society and Credit Union customer satisfaction? You can bank on it

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 2-Oct-19

New research by Roy Morgan shows that customer satisfaction with building societies and credit unions was 89.8% in the six months to August 2019, compared with a 76.7% customer satisfaction rating for Australia’s four major banks. In stark contrast to the banks, the financial services royal commission resulted in only a minor dent in the satisfaction ratings of building societies and credit unions. Meanwhile, Newcastle Permanent Building Society has won the monthly customer satisfaction award for August, with a rating of 92%, ahead of Credit Union Australia (91%) and People’s Choice Credit Union (88%). These findings come from the Roy Morgan Single Source survey, which is based on in-depth face-to-face interviews with over 50,000 Australians each year in their homes.

CORPORATES
ROY MORGAN LIMITED, NEWCASTLE PERMANENT BUILDING SOCIETY LIMITED, CREDIT UNION AUSTRALIA LIMITED, PEOPLE’S CHOICE CREDIT UNION

Anglo puts brakes on driverless mine trucks

roymorgansocial Leave a comment

Original article by Nick Evans
The Australian – Page: 17 & 21 : 2-Oct-19

Anglo American has opted to overhaul the existing fleet of haulage trucks at its Dawson coal mine in Queensland, rather than replace them with autonomous trucks. A spokeswoman say a feasibility study has concluded that the deployment of autonomous vehicles would not be the best use of capital at present; however, Anglo American may reconsider using driverless trucks when its existing fleet reaches the end of its operational life. At present, Whitehaven is the only Australian coal producer to have committed to the use of autonomous trucks, which are now widely used at iron ore mines in the Pilbara.

CORPORATES
ANGLO AMERICAN PLC, WHITEHAVEN COAL LIMITED – ASX WHC, BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG

Iron ore forecasts tumble, resources giants downgraded

roymorgansocial Leave a comment

Original article by Robert Guy
The Australian Financial Review – Page: 32 : 2-Oct-19

Credit Suisse has scaled back its benchmark iron ore price forecasts for the next three years, due to expectations that Chinese steel production will peak in 2019. The firm now expects iron ore to fetch $US80 a tonne in 2020, which is six per cent lower than its previous guidance. Its price forecast for 2021 has been cut by 13 per cent to $US65/tonne, while the iron ore price is now expected to average $US60 a tonne in 2022. Credit Suisse has also reduced its share price targets for BHP, Rio Tinto and Fortescue Metals Group, while its rating on the latter has been downgraded from ‘neutral’ to ‘underperform’.

CORPORATES
CREDIT SUISSE (AUSTRALIA) LIMITED, BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, UBS HOLDINGS PTY LTD

New era: News, Apple join forces

roymorgansocial Leave a comment

Original article by Chris Griffith
The Australian – Page: 3 : 1-Oct-19

Apple’s subscription news service News+ will be launched in Australia on 1 October, with News Corp Australia to be the exclusive local provider of news content. News Corp CEO Robert Thompson said the media group is pleased to be partnering with a company which recognises that there should be a premium for "premium journalism" and which believes in the "profundity of provenance". He also claimed that Apple rival Google is more interested in hype and hypocrisy. Bauer Media and Pacific Magazines are also providing content to News+, which will cost $14.99 per month with a one-month free trial.

CORPORATES
APPLE INCORPORATED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, GOOGLE INCORPORATED, BAUER MEDIA AUSTRALIA PTY LTD, PACIFIC MAGAZINES PTY LTD

Our miracle delivers Aussie dream: China

roymorgansocial Leave a comment

Original article by Ben Packham
The Australian – Page: 1 & 4 : 1-Oct-19

China’s ambassador to Australia, Cheng ­Jingye, says China does not want to dominate the world, but to build a better life for its citizens. Speaking on the eve of the 70th anniversary of China’s communist revolution, Cheng said that although China is now the world’s second biggest economy, it could be another 30 years before it can regarded as developed. He says Australia would do well to remember that it has China to thank for its economic success, and that there needs to be greater mutual respect between the two countries.

CORPORATES

Rio puts Canada IPO plan on hold

roymorgansocial Leave a comment

Original article by Rhiannon Hoyle
The Australian – Page: 20 : 1-Oct-19

Mining giant Rio Tinto has advised that it is longer seeking to divest its controlling stake in Iron Ore Co of Canada via a trade sale or IPO. The recent volatility in the price of iron ore has affected the potential sale price of the business, in which Rio Tinto has a 59 per cent stake. Rio Tinto first flagged plans to sell the Canadian business in 2013, and CEO Jean-Sebastien Jacques indicated in 2017 that the resources giant would not hold a "fire sale" of unwanted assets.

CORPORATES
RIO TINTO LIMITED – ASX RIO, IRON ORE COMPANY OF CANADA, MITSUBISHI CORPORATION, LABRADOR IRON ORE ROYALTY INCOME CORPORATION

Australian reliance on China at record

roymorgansocial Leave a comment

Original article by Matthew Cranston
The Australian Financial Review – Page: 10 : 1-Oct-19

Data from the Australian National University shows that China now accounts for 38 per cent of Australia’s total exports, compared with 34 per cent in 2018. The value of the nation’s exports to China during the first seven months of 2019 totalled $84bn, which is about $12bn per month, up from $9.8bn a month in 2018. In contrast, Japan’s share of Australian exports was just 16 per cent in 2018, having peaked at more than 30 per cent in 1976.

CORPORATES
AUSTRALIAN NATIONAL UNIVERSITY, GOLDMAN SACHS AUSTRALIA PTY LTD, VALE SA

Betta is best, according to furniture and electrical buyers

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 1-Oct-19

Betta Home Living/Betta Electrical has won Roy Morgan’s Customer Satisfaction Award for furniture and electrical retailers for the third month in a row, with a customer satisfaction rating of 95% in August 2019. This is 15% higher than a year ago. In joint second place are IKEA and JB Hi-Fi, which each have customer satisfaction ratings of 90%, both down 1% from a year ago. Roy Morgan’s research also shows that women do the majority of the shopping at Betta Home Living/Betta Electrical, and nearly half its customers are aged 50 or over, while the average IKEA customer is female and aged 25 to 49. These findings come from the Roy Morgan Single Source survey, which is based on in-depth face-to-face interviews with over 50,000 Australians each year in their homes.

CORPORATES
ROY MORGAN LIMITED, BETTA HOME LIVING, BETTA ELECTRICAL PTY LTD, IKEA TRADING PTY LTD, JB HI-FI LIMITED – ASX JBH

Major banks hit as credit growth stalls

roymorgansocial Leave a comment

Original article by Joyce Moullakis
The Australian – Page: 17 & 28 : 1-Oct-19

Official data shows that annual growth in credit fell to an eight-year low of 2.9 per cent in the year to August, after rising by just 0.2 per for the month. Housing credit and business credit also increased by 0.2 per cent in August, with growth of 3.1 per cent and 3.4 per cent respectively for the year to August. Ed Henning of CLSA anticipates a slight improvement in credit growth in coming months, although Chris Read of Morgan Stanley says credit growth is unlikely to rebound in the near-term unless there is an upturn in housing turnover as well as prices.

CORPORATES
CLSA AUSTRALIA PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, RESERVE BANK OF AUSTRALIA, SWITZER ASSET MANAGEMENT LIMITED, MST MARQUEE, UBS HOLDINGS PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, MACQUARIE GROUP LIMITED – ASX MQG