K62 Finance

Westpac leads big four in business customer satisfaction and advocacy

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 12-Feb-15

A Roy Morgan Research Business Single Source survey has found that the overall satisfaction level of the business customers of Australia’s four major banks fell to 65.6 per cent in January 2015. This compares with 68.6 per cent in September 2014. Westpac retained the highest satisfaction rating at 70.5 per cent, ahead of the Commonwealth Bank on 66.4 per cent. However, smaller banks continue to outperform the "big four" in terms of business customer satisfaction, increasing their satisfaction level from 69.4 per cent to 70.6 per cent

CORPORATES
ROY MORGAN RESEARCH LIMITED, 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, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, SUNCORP GROUP LIMITED – ASX SUN

Jobless jump points to rate cut

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Original article by Jacob Greber
The Australian Financial Review – Page: 5 : 13-Feb-15

The Australian economy shed more than 12,000 jobs in January 2015, with the unemployment rate rising to 6.4 per cent. The jobless rate’s rise to its highest level in 12 years weighed heavily on the Australian dollar, which reached a low of $US0.7662 on 12 February. The data also prompted speculation of further interest rate cuts, while business groups say the figures demonstrate the need for industrial relations reforms

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN BUREAU OF STATISTICS, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, AUSTRALIAN GREENS

CBA shares forecast to push $100 within a year

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Original article by Clancy Yeates, James Eyers
The Australian Financial Review – Page: 16 : 13-Feb-15

Commonwealth Bank of Australia (CBA) shares peaked at $A93.96 in early February 2015. While the stock has since retreated slightly, some analysts are bullish about it. Macquarie Group has lifted its 12-month share price target to $A99 in the wake of CBA’s 2014-15 interim profit result, while Credit Suisse has a target price of $A96. However, PM Capital’s Uday Cheruvu says CBA’s earnings growth outlook does not justify its high forward price-earnings multiple

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE GROUP LIMITED – ASX MQG, CREDIT SUISSE (AUSTRALIA) LIMITED, PM CAPITAL LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, GOOGLE INCORPORATED

$A plunges as investors bet on rate cut in March

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Original article by Misa Han
The Australian Financial Review – Page: 23 : 13-Feb-15

The Australian dollar was buying $US0.7646 late in trading on 12 February 2015. The currency was sold down in response to data showing that Australia’s unemployment rate rose to 6.4 per cent in January, with the economy shedding more than 12,000 jobs during the month. The jobs data has heightened expectations of further easing of monetary policy, and Paul Bloxham of HSBC expects the currency to continue to retreat

CORPORATES
HSBC AUSTRALIA HOLDINGS PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RESERVE BANK OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Apple’s pick of the crop as reality bites for other heroes

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Original article by Philip Baker
The Australian Financial Review – Page: 30 : 12-Feb-15

The market capitalisation of Apple rose to $US711bn on 11 February 2015, and the IT giant may be on track to become the first company to achieve a market value of $US1trn. Apple shares have risen by more than 50,600 per cent since its IPO in 1980. Meanwhile, shares in Australian-listed Commonwealth Bank and CSL retreated on 11 February, although both remain close to record highs and are candidates to reach $A100 per share

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CSL LIMITED – ASX CSL, APPLE INCORPORATED, EXXONMOBIL CORPORATION, GOOGLE INCORPORATED, MICROSOFT CORPORATION, WESTPAC BANKING CORPORATION – ASX WBC, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH

Australian dollar set to drop to US75c by March

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Original article by Misa Han
The Australian Financial Review – Page: 31 : 12-Feb-15

The Australian dollar remained within a narrow trading range of $US0.7764 and $US0.7794 on 11 February 2015. The upcoming release of the latest unemployment data will be the next key test for the currency, while Reserve Bank governor Glenn Stevens will shortly front a parliamentary committee. Westpac’s Sean Callow forecasts that the currency will fall to $US0.75 by the end of March, while National Australia Bank expects it to test the $US0.76 level

CORPORATES
RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN BUREAU OF STATISTICS, UNITED STATES. HOUSE OF REPRESENTATIVES COMMITTEE ON FINANCIAL SERVICES

Political chaos hits business

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Original article by Jonathan Shapiro, James Eyers
The Australian Financial Review – Page: 1 & 14 : 12-Feb-15

The Commonwealth Bank of Australia posted a cash profit of $A4.62bn for the first half of 2014-15 on 11 February 2015. However, the group’s shares fell by 0.79 per cent to close at $A91.86. Meanwhile, CEO Ian Narev has urged the nation’s policymakers to pursue measures aimed at bolstering business confidence, arguing that the failure to deliver "coherent" policy will hinder economic growth. Shareholders will receive an interim dividend of $A1.98 per share

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RESERVE BANK OF AUSTRALIA, INVESTORS MUTUAL LIMITED, PM CAPITAL LIMITED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

ANZ-Roy Morgan Consumer Confidence: Not-So-Great Expectations

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 10-Feb-15

The ANZ-Roy Morgan Consumer Confidence rating for Australia fell by 0.6 per cent to 111.7 in the week ended 8 February 2015. The modest change likely reflects the positive impact from interest rate cuts, somewhat offset by concerns about the economy and federal government leadership speculation. Confidence in the economic outlook over the next year fell by 3.6 per cent, but expectations of household finances compared with a year ago rose by 1.3 per cent. This sub-index is most correlated with household spending

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, RESERVE BANK OF AUSTRALIA

Credit card firms push cashless world

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Original article by Shaun Drummond
The Australian Financial Review – Page: 19 : 10-Feb-15

Credit card companies are determined to eliminate cash from financial transactions. Progress towards this aim has been particularly fast in Australia and developing countries. MasterCard’s president of international markets, Ann Cairns, says half of all MasterCard transactions in Australia are already done through its PayPass system

CORPORATES
MASTERCARD INTERNATIONAL INCORPORATED, VISA INTERNATIONAL, APPLE INCORPORATED, WESTPAC BANKING CORPORATION – ASX WBC, SAMSUNG CORPORATION

Shocks likely as weaker $A hits home

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Original article by Bianca Hartge-Hazelman
The Australian Financial Review – Page: 20 : 10-Feb-15

Shane Lee of CIMB notes that consensus forecasts for earnings per share in the February 2015 reporting season have not been unduly affected by the sharp fall in the value of the Australian dollar. CSL, Boral and Newcrest Mining are among the stocks that could potentially have benefited from the lower currency in the first half of 2014-15. Lee notes that Boral will have greater downside risk in fiscal 2016, when less of its foreign exposure will be hedged

CORPORATES
CIMB SECURITIES INTERNATIONAL (AUSTRALIA) PTY LTD, CSL LIMITED – ASX CSL, BORAL LIMITED – ASX BLD, NEWCREST MINING LIMITED – ASX NCM, OZ MINERALS LIMITED – ASX OZL, COCHLEAR LIMITED – ASX COH, PERSEUS MINING LIMITED – ASX PRU, SONIC HEALTHCARE LIMITED – ASX SHL, TRANSFIELD SERVICES LIMITED – ASX TSE, AMCOR LIMITED – ASX AMC, ALUMINA LIMITED – ASX AWC, WHITEHAVEN COAL LIMITED – ASX WHC, OCEANAGOLD CORPORATION – ASX OGC, RIO TINTO LIMITED – ASX RIO, ILUKA RESOURCES LIMITED – ASX ILU, ATLAS IRON LIMITED – ASX AGO, SANDFIRE RESOURCES NL – ASX SFR, MOUNT GIBSON IRON LIMITED – ASX MGX