Author: roymorgansocial

Wall Street ends year with worst losses since GFC

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Original article by Georgi Kantchev, Akane Otani
The Australian – Page: 17 : 2-Jan-19

The Dow Jones Industrial Average shed 5.6 per cent in 2018, while the S&P 500 and the Nasdaq retreated 6.2 per cent and 3.9 per cent respectively. However, all three indices posted gains on the final day of the year, with the Dow rising by 1.1 per cent. Despite the late rally, Wall Street recorded its biggest annual loss since the global financial crisis. Geoffrey Yu of UBS Wealth Management expects further market volatility in 2019. Meanwhile, the UK’s FTSE 100 and the Stoxx Europe 600 both fell by 13 per cent during 2018, and the Shanghai Composite shed 25 per cent.

CORPORATES
DOW JONES INDUSTRIAL AVERAGE INDEX, STANDARD AND POOR’S 500 INDEX, NASDAQ COMPOSITE INDEX, UBS WEALTH MANAGEMENT, FTSE 100 INDEX, STOXX EUROPE 600 INDEX, SHANGHAI COMPOSITE INDEX, NIKKEI 225 INDEX, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, UNITED STATES. DEPT OF LABOR, BOEING COMPANY, THE GOLDMAN SACHS GROUP INCORPORATED, CHICAGO BOARD OPTIONS EXCHANGE VOLATILITY INDEX

ASX headed for bounce in 2019

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Original article by Tim Boyd
The Australian Financial Review – Page: 17 : 2-Jan-19

The benchmark S&P/ASX 200 shed 6.9 per cent in 2018, ending the year at 5,646.4 points. However, economists are generally upbeat about the outlook for the Australian sharemarket in 2019. Stephen Koukoulas of Market Economics says the market could gain around 20 per cent, while Stephen Roberts of Laminar Capital forecasts a rise of 8-12 per cent. Meanwhile, Marcel Thieliant of Capital Economics expects the S&P 500 to shed around 15 per cent in 2019, which in turn is likely to weigh on the Australian market.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, MARKET ECONOMICS PTY LTD, LAMINAR CAPITAL, CAPITAL ECONOMICS LIMITED, STANDARD AND POOR’S 500 INDEX, AMP CAPITAL INVESTORS LIMITED, RUSSELL INVESTMENTS PTY LTD, TD SECURITIES, RESERVE BANK OF AUSTRALIA, UNITED STATES. FEDERAL RESERVE BOARD, CORELOGIC AUSTRALIA PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Economists push rate rise to 2020

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Original article by Vesna Poljak
The Australian Financial Review – Page: 1 & 16 : 2-Jan-19

The latest quarterly survey of economists shows that the general consensus is that the Reserve Bank will leave official interest rates on hold until mid-2020. Previous expectations were for a rate rise in the second half of 2019. However, Shane Oliver of AMP Capital is one of three economists who expect the central bank to reduce the cash rate in 2019. Meanwhile, the US Federal Reserve is now widely tipped to increase interest rates twice in 2019.

CORPORATES
RESERVE BANK OF AUSTRALIA, AMP CAPITAL INVESTORS LIMITED, INDUSTRY SUPER AUSTRALIA PTY LTD, MARKET ECONOMICS PTY LTD, MOODY’S ANALYTICS AUSTRALIA PTY LTD, RBC CAPITAL MARKETS, UNIVERSITY OF TECHNOLOGY, SYDNEY, UNITED STATES. FEDERAL RESERVE BOARD, MACQUARIE GROUP LIMITED – ASX MQG, QIC LIMITED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Koreans baulk at cobalt deal as prices tumble

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Original article by Paul Garvey
The Australian – Page: 15 : 2-Jan-19

South Korea-based SK Innovation failed to exercise an option to acquire a 19.9 per cent stake in Australian Mines by the deadline of 31 December. Shares in the cobalt producer closed at $0.038 on the day, compared with the options’ strike price of $0.12, prompting speculation that SK Innovation will not exercise the option. A sharp fall in the price of cobalt weighed on Australian Mines’ shares in 2018.

CORPORATES
AUSTRALIAN MINES LIMITED – ASX AUZ, SK INNOVATION, CLEAN TEQ HOLDINGS LIMITED – ASX CLQ

Trump makes a year of heavy metal

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Original article by Paul Garvey
The Australian – Page: 15 : 2-Jan-19

Commodity prices fell for the seventh year out of the last 11 during 2018. The prices of metals such as zinc, copper and aluminium in particular fell sharply, although supply constraints resulted in strong gains for both coking and thermal coal. The US-China trade war weighed on commodity markets, and the outlook for 2019 may depend to a large extent on the actions of US President Donald Trump. Daniel Hynes of the ANZ Bank and Glyn Lawcock of UBS are upbeat about the outlook for base metals prices in 2019.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, UBS HOLDINGS PTY LTD, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

All Australians want for Christmas is… money & quality time with family

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

A special Roy Morgan survey has found that 12% of Australians mentioned some kind of financial windfall as what they most wanted for Christmas, while 10% were just after a good time with their family and friends. The online survey, which was conducted from 12-17 December, also found that other items people wanted for Christmas included the latest electronic gadgets and computer games (9%), a relaxing holiday (8%), clothing and accessories (8%) and household or garden items (8%).

CORPORATES
ROY MORGAN LIMITED

GetUp’s $500k donation to change poll climate

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Original article by Brad Norington
The Australian – Page: 1 & 4 : 21-Dec-18

Activist group GetUp has received a $495,000 donation from the Sunrise Project, an Australia-based charity that campaigns for 100 per cent renewable energy. GetUp’s national director Paul Oosting says the donation will be used to finance its activities prior to the 2019 federal election, when it is expected to hand out how-to-vote cards for the Greens and Labor. Western Australian Liberal MP Ben Morton claims that the Sunrise Project is a "clearing house of political donations from others". Sunrise Project executive director John Hepburn denies that it is a clearing house for activist groups.

CORPORATES
GETUP LIMITED, SUNRISE PROJECT, AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, GREENPEACE, MINERAL COUNCIL OF AUSTRALIA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA

Adani tries to get things moving at Carmichael

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Original article by Jared Owens
The Australian – Page: 4 : 21-Dec-18

India-based Adani has commenced construction work on the rail component of its Carmichael coal project in Queensland. However, CEO Lucas Dow says work on the mine has been stalled by delays in gaining state government approvals for managements plans to protect groundwater and endan­gered species. Adani intends to fully finance the rail link, which could potentially be used by other mining companies.

CORPORATES
ADANI MINING PTY LTD, QUEENSLAND. DEPT OF ENVIRONMENT AND HERITAGE PROTECTION, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, GVK HANCOCK, WARATAH COAL PTY LTD, MACMINES AUSTASIA PTY LTD

Coalition resists national workplace fatality law

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Original article by Ewin Hannan
The Australian – Page: 6 : 21-Dec-18

A Senate committee has recommended the adoption of a national approach to industrial manslaughter laws, proposing that existing Queensland laws be used as a template. However, in its response to the committee’s recommendation, the federal government indicated that it is against the proposal, stating that it is not realistic to suggest that such laws would end workplace deaths. It noted that there is scope for those found to be responsible for workplace deaths to be prosecuted under existing laws.

CORPORATES
AUSTRALIAN LABOR PARTY

Boral risks millions after code warning

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 6 : 21-Dec-18

Boral subsidiary De Martin & Gasparini has been given an official warning from the federal government for breaching its building code. Boral will be banned from tendering for construction projects that receive federal funding if it breaches the code again. Boral is the first company to receive an official warning for a breach of the code, which was introduced alongside the reinstatement of the Australian Building & Construction Commission in 2016.

CORPORATES
BORAL LIMITED – ASX BLD, DE MARTIN AND GASPARINI PTY LTD, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA