Author: roymorgansocial

Nine-week campaign might save us: Labor

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 26-Jul-18

The seats of Longman and Braddon will be the focus of Prime Minister Malcolm Turnbull and Opposition Leader Bill Shorten in the last two days before the by-elections on 28 July. The Liberal Party and Labor agree that the outcome of both by-elections is now too close to call. Meanwhile, a Labor source says the party has benefited from the marathon nine-week election campaign, as its internal polling suggests that Labor would have lost both seats if the election campaign had been shorter.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA

Ignore One Nation at your peril, says Roy

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Original article by Mark Ludlow
The Australian Financial Review – Page: 4 : 26-Jul-18

One Nation’s preferences contributed to the Liberal-National Party’s loss of Longman at the 2016 federal election. The minor political party is likely to have an impact on the outcome of the by-election on 28 July, with expectations that it will gain about 20 per cent of the primary vote. Wyatt Roy, who lost the seat to Labor’s Susan Lamb in 2016, says both of the major parties must listen to the concerns of One Nation supporters. He notes that L-NP candidate Trevor Ruthenberg should benefit from One Nation preferences.

CORPORATES
ONE NATION PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AFINITI

‘I’ve proved the doubters wrong’: Rinehart on her success

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Original article by Jennifer Hewett
The Australian Financial Review – Page: 2 : 26-Jul-18

Mining magnate Gina Rinehart concedes that her Roy Hill iron ore mine almost did not proceed due to problems with securing financing for the project. Roy Hill now boasts annual production of 55 million tonnes, while Rinehart will shortly know if Hancock Prospecting’s $390m takeover bid for Atlas Iron has been successful. Meanwhile, Rinehart says Australia should do more to encourage investment, while she has flagged plans to ramp up the cattle side of her business empire.

CORPORATES
ROY HILL HOLDINGS PTY LTD, HANCOCK PROSPECTING PTY LTD, ATLAS IRON LIMITED – ASX AGO, S KIDMAN AND COMPANY PTY LTD

Inflation keeps RBA’s hands tied

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Original article by Patrick Commins, Vesna Poljak
The Australian Financial Review – Page: 1 & 6 : 26-Jul-18

Alex Joiner of IFM Investors says the latest inflation data is "underwhelming". Official figures show that consumer price inflation rose by a below-forecast 0.4 per cent in the June quarter and by 2.1 per cent in the year to June. The underlying inflation rate fell below the lower end of the Reserve Bank’s target range of 2-3 per cent. Justin Smirk of Westpac notes that inflation data has now been below consensus forecasts for a record seventh successive quarter.

CORPORATES
IFM INVESTORS PTY LTD, RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, JP MORGAN AUSTRALIA LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Iron ore heads for price crash: RBC

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Original article by Matt Chambers
The Australian – Page: 20 : 26-Jul-18

RBC Capital Markets has downgraded its average price forecast for iron ore in the September quarter from $US60 per tonne to $US50. The firm also expects the price of the steel input to average $US47.50 in the December quarter, compared with previous expectations of $US70. However, RBC expects the iron ore price to rebound to $US63/tonne in 2019. RBC has also downgraded its earnings forecasts and share price targets for BHP Billiton, Rio Tinto and Fortescue Metals Group.

CORPORATES
RBC CAPITAL MARKETS, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG

Snowy 2.0 a risk to threatened fauna

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Original article by Joe Kelly
The Australian – Page: 2 : 26-Jul-18

An environmental impact statement has raised concern that the Federal Government’s proposed expansion of the Snowy Hydro scheme could adversely affect the habitat of some endangered species. These include the smoky mouse, the gang-gang cockatoo and the eastern pygmy possum. The EIS notes that measures are being taken to minimise the impact that exploratory work for the Snowy 2.0 project is having on the habitats of at-risk species.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEW SOUTH WALES. DEPT OF PLANNING AND ENVIRONMENT. OFFICE OF ENVIRONMENT AND HERITAGE, NEW SOUTH WALES. NATIONAL PARKS AND WILDLIFE SERVICE

Labor move to kill off energy deal

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Original article by Ben Packham
The Australian – Page: 1 & 2 : 26-Jul-18

The Federal Government will require the support of Senate crossbenchers for its national energy guarantee, after Labor signalled that it will oppose the policy even if it is approved by the states and territories. Labor’s energy spokesman Mark Butler has described the NEG’s carbon emissions reduction target as "un­realistic" and warned that the policy will adversely affect jobs and investment in the renewable energy sector. Smart Energy Council CEO John Grimes has expressed similar concerns, while Victorian Energy Policy Centre director Bruce Mountain has questioned the need for the NEG.

CORPORATES
AUSTRALIAN LABOR PARTY, SMART ENERGY COUNCIL, VICTORIAN ENERGY POLICY CENTRE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, COUNCIL OF AUSTRALIAN GOVERNMENTS, ONE NATION PARTY, AUSTRALIA. ENERGY SECURITY BOARD, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED

Aussie stocks still have room to grow: BlackRock

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Original article by David Rogers
The Australian – Page: 27 : 26-Jul-18

The BlackRock Concentrated Industrial Share Fund posted a return of 24.45 per cent net of fees in 2017-18, and its annual return has average 19 per cent since it was founded in December 2015. The fund’s biggest holdings include Wesfarmers, Qantas and Boral, while its focus is on mid-capitalisation industrial stocks. Charlie Lanchester of BlackRock is upbeat about the outlook for Australian industrial stocks.

CORPORATES
BLACKROCK INVESTMENT MANAGEMENT (AUSTRALIA) LIMITED, BLACKROCK CONCENTRATED INDUSTRIAL SHARE FUND, WESFARMERS LIMITED – ASX WES, QANTAS AIRWAYS LIMITED – ASX QAN, BORAL LIMITED – ASX BLD, TREASURY WINE ESTATES LIMITED – ASX TWE, ARISTOCRAT LEISURE LIMITED – ASX ALL, STANDARD AND POOR’S ASX 200 INDEX, PRAEMIUM LIMITED – ASX PPS, KOGAN.COM LIMITED – ASX KGN, TRANSURBAN GROUP LIMITED – ASX TCL, SYDNEY AIRPORT – ASX SYD

Slowdown in east coast housing gathers speed

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Original article by Michael Bleby
The Australian Financial Review – Page: 33 : 26-Jul-18

Data from Domain Holdings shows that Australia’s median house price fell by one per cent to $802,077 in the June 2018 quarter. The median house price in Sydney eased 1.4 per cent in the quarter, to $1,144,217, with the median unit price down 0.5 per cent quarter-on-quarter. Sydney’s median house price was 4.5 per cent lower in the year to June, with the median unit price down 3.5 per cent. Meanwhile, the median house price in Melbourne fell by 1.8 per cent quarter-on-quarter, although it rose 0.5 per cent year-on-year.

CORPORATES
DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, CORELOGIC AUSTRALIA PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET

Push to throw out baseless unfair dismissal claims

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Original article by Joe Kelly, Ben Packham
The Australian – Page: 1 & 4 : 25-Jul-18

Changes to the Fair Work Commission’s procedures for dealing with unfair dismissal cases are among the recommendations of a review undertaken by ex-federal small business minister Bruce Billson. Amongst other things, he has recommended earlier intervention by the FWC to reject unfair dismissal claims against small businesses that are deemed to have no merit. Meanwhile, a new report from the Institute of Public Affairs shows that the number of people employed by small businesses in Australia has fallen by seven per cent over a decade.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, INSTITUTE OF PUBLIC AFFAIRS LIMITED, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. PRODUCTIVITY COMMISSION, CONCEPT WIRE INDUSTRIES