K62 Finance

Banks shares set to rise as investors focus on dividends

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 28 : 8-Oct-15

Australia’s S&P/ASX 200 Banks Index has shed 20 per cent since April 2015, and Macquarie says the downturn in bank share prices has created a buying opportunity for investors. Macquarie expects the forthcoming dividend payouts by National Australia Bank, Westpac and the ANZ Bank will drive investor activity in the banking sector, which in turn should boost the share prices of bank stocks.

CORPORATES
STANDARD AND POOR’S ASX 200 BANKS INDEX, MACQUARIE GROUP LIMITED – ASX MQG, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, BANK OF QUEENSLAND LIMITED – ASX BOQ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

$A tipped to reach US75c as rates call spurs rally

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Original article by Stephen Cauchi
The Australian Financial Review – Page: 39 : 8-Oct-15

The Australian dollar was buying $US0.718 late in trading on 7 October 2015, and some analysts are upbeat about its near-term outlook. BK Asset Management’s Boris Schlossberg says the currency could test the $US0.75 level if there is an upturn in commodity prices during the final months of 2015. Richard Franulovich of Westpac Institutional Bank says the currency could also benefit from any decline in the US dollar on a trade-weighted basis.

CORPORATES
BK ASSET MANAGEMENT, WESTPAC INSTITUTIONAL BANK, GOLDMAN SACHS ASSET MANAGEMENT, RESERVE BANK OF AUSTRALIA, UNITED STATES. FEDERAL RESERVE BOARD, UNITED STATES. DEPT OF THE TREASURY

ANZ-Roy Morgan Australian Consumer Confidence faces uphill battle – now at 110.0

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 6-Oct-15

The ANZ-Roy Morgan Consumer Confidence rating for Australia fell by 0.5 per cent to 110.0 in the week ended 4 October 2015. This takes the cumulative fall over the last fortnight to 3.9 per cent, which retraces almost half of the record bounce in response to the appointment of Malcolm Turnbull as Prime Minister. Results across the sub-indices were mixed. Confidence in the economic outlook over the next five years fell by 5.6 per cent and remains well below average. In addition, views on household finances compared with a year ago declined 3.6 per cent to the lowest level since mid-June.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

RBA urged not to cut interest rate

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Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 6-Oct-15

The Reserve Bank of Australia’s "shadow board" believes that the cash rate should either be left at two per cent for the next six months or increased. Shadow board member Mark Crosby says economic reforms such as tax cuts would do more to stimulate the economy than further rate cuts. He adds that more rate cuts may increase the debt problem in Australia. Crosby also says the growing expectation that rates will soon rise in the US should prompt the Reserve Bank to leave rates on hold.

CORPORATES
RESERVE BANK OF AUSTRALIA, UNIVERSITY OF MELBOURNE, UNIVERSITY OF NEW SOUTH WALES, MACQUARIE UNIVERSITY, UNIVERSITY OF SYDNEY, UNIVERSITY OF TASMANIA, HSBC AUSTRALIA HOLDINGS PTY LTD, UNITED STATES. FEDERAL RESERVE BOARD, COMMONWEALTH SECURITIES LIMITED, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

November RBA rate cut gains traction

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Original article by Rose Powell
The Australian Financial Review – Page: 5 : 5-Oct-15

Data from Bloomberg shows that financial markets believe there is a 27 per cent chance that the Reserve Bank of Australia will reduce the cash rate by 25 basis points on 6 October 2015. Economists have cited factors such as the recent fall in the value of the Australian dollar and an improvement in business confidence as some of the factors that will influence the central bank’s decision. Citigroup anticipates a rate cut in November.

CORPORATES
RESERVE BANK OF AUSTRALIA, CITIGROUP PTY LTD, BLOOMBERG LP, HSBC AUSTRALIA HOLDINGS PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

ANZ-Roy Morgan Australian Consumer Confidence falls 3.9pts to 110.6 after Turnbull ‘bounce’

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 29-Sep-15

The ANZ-Roy Morgan Consumer Confidence rating for Australia fell by 3.4 per cent to 110.6 in the week ended 27 September 2015. This partially retraces the record 8.7 per cent bounce in the previous week in response to the appointment of Malcolm Turnbull as Prime Minister. The decline in confidence was broad-based across the subindices. In particular, confidence in the economy over the next 12 months fell by 7.5 per cent, while confidence in the economy over the next five years fell by 1.5 per cent. The levels of both subindices are below their long-run average.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Inner-city suburbs risk mortgage default, says NAB

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Original article by Clancy Yeates
The Australian Financial Review – Page: 1 & 6 : 29-Sep-15

National Australia Bank has identified about 80 postcodes across Australia where it will restrict loan-to-valuation ratios due to concerns about the potential for home loan borrowers to default. Home buyers in some 40 postcodes are regarded as being particularly at risk of default, and home loan borrowers in these postcodes will require a minimum deposit of 30 per cent. While many of the postcodes are in mining areas, the list also includes 34 in Sydney and five in Melbourne, and the CBDs of all five major capital cities.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, HOMELOANEXPERTS.COM.AU, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY

New Prime Minister Malcolm Turnbull gives immediate Consumer Confidence boost in all States and a wide range of demographics

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Original article by Michele Levine, Gary Morgan, Julian McCrann, Roy Morgan Research
Market Research Update – Page: Online : 28-Sep-15

ANZ-Roy Morgan Australian Consumer Confidence jumped by a one-week record 9.2 points to 114.5 in the week ended 20 September 2015, after Malcolm Turnbull was sworn in as the 29th Prime Minister. The increase to consumer confidence was broad-based, with consumer confidence increasing strongly for both genders, across all age groups and all States and capital cities. Sentiment regarding the Australian economy over the next 12 months increased the most strongly with 31 per cent (up 10 per cent) of Australians expecting "good times" for the Australian economy over the next 12 months. Over the next few weeks and months several Roy Morgan indicators will provide the clearest measure of whether Turnbull has what it takes to introduce the required reforms to boost the Australian economy and provide the confidence to businesses and consumers to get the economy growing on a sustainable path.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIAN LABOR PARTY

Peter Warne to take ‘big gig’ at Macquarie

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 17 : 25-Sep-15

Macquarie Group has appointed Peter Warne as chairman. He will assume his new role on 31 March 2016, replacing Kevin McCann. The Australian Shareholders’ Association is concerned that Warne will not be able to devote enough time to Macquarie, because of his many other commitments. Warne is chairman of ALE Property Group and OzForex Group. He also holds directorships at ASX Limited and the New South Wales Treasury Corporation.

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, ALE PROPERTY GROUP – ASX LEP, OZFOREX GROUP LIMITED – ASX OFX, ASX LIMITED – ASX ASX, NEW SOUTH WALES TREASURY CORPORATION, MACQUARIE UNIVERSITY, AUSTRALIA. DEPT OF THE TREASURY. OFFICE OF FINANCIAL MANAGEMENT, CADENCE CAPITAL LIMITED – ASX CDT, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ESANDA FINANCE CORPORATION LIMITED

RBA needs to cut official interest rate to 1.5pc: ANZ

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Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 25-Sep-15

The ANZ Bank says Australia’s unemployment rate of 6.2 per cent is unlikely to fall significantly in the near-term due to factors such as slowing global economic growth and the uncertain outlook for the Chinese economy. Chief economist Warren Hogan warns that the unemployment rate could potentially rise over the next year or so. ANZ believes that a combination of factors means the Reserve Bank will have to reduce the cash rate in both February and May 2016.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY