K64 Auxiliary Finance and Insurance Services

Capex data to test Turnbull

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Original article by Vesna Poljak
The Australian Financial Review – Page: 20 : 23-Nov-15

The national capital spending survey for the September 2015 quarter will be a key focus for Australian investors in the week beginning 23 November 2015. Data from Bloomberg shows that economists generally expect the September quarter forecast for capex intentions in 2015-16 to be around $A120bn, compared with $A114bn in the June quarter. National Australia Bank is more upbeat, forecasting full-year capex of $A124bn.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BLOOMBERG LP, STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S 500 INDEX, DOW JONES INDUSTRIAL AVERAGE INDEX, UNITED STATES. FEDERAL RESERVE BOARD, FEDERAL RESERVE BANK OF SAN FRANCISCO, EUROPEAN CENTRAL BANK, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

OzForex co-founders big winners from Western Union bid

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Original article by Shaun Drummond, Sarah Thompson, Michael Bailey, Anthony Macdonald, Joyce Moullakis
The Australian Financial Review – Page: 13 & 18 : 20-Nov-15

Shares in online foreign exchange group OzForex closed 30 per cent higher at $A3.38 on 19 November 2015, in response to Western Union’s $A888m takeover approach The indicative offer is non-binding and may not result in a formal takeover bid, but OzForex’s co-founder Matthew Gilmour expects the company to attract other bids. He notes that a number of overseas groups were interested in buying OzForex prior to its IPO in 2013.

CORPORATES
OZFOREX GROUP LIMITED – ASX OFX, WESTERN UNION FINANCIAL SERVICES INCORPORATED, DEUTSCHE BANK AG, MACQUARIE GROUP LIMITED – ASX MQG, CLAYTON UTZ, GRESHAM PARTNERS LIMITED, EURONET WORLDWIDE INCORPORATED, DEUTSCHE BOERSE, TRAVELWISE, WORLD FIRST, NEW YORK STOCK EXCHANGE, VEDA GROUP LIMITED – ASX VED, EQUIFAX INCORPORATED, ISELECT LIMITED – ASX ISU, PROVIDENCE EQUITY PARTNERS INCORPORATED

RIAA calls to end quarterly reporting

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Original article by Sally Rose
The Australian Financial Review – Page: 33 : 19-Nov-15

The majority of listed companies release quarterly earnings reports and guidance updates, but Responsible Investment Association Australasia (RIAA) CEO Simon O’Connor says their main priority should be pursuing strategies that will create long-term value for investors. A policy paper to be released on 19 November 2015 also presents the RIAA’s views on issues such as environmental and social governance risks, ethics and executive remuneration.

CORPORATES
RESPONSIBLE INVESTMENT ASSOCIATION AUSTRALASIA, BHP BILLITON LIMITED – ASX BHP, SAMARCO MINERACAO SA, VOLKSWAGEN AG, UNISUPER LIMITED, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, FIRST STATE SUPER, VICSUPER PTY LTD, SUNSUPER PTY LTD, BLACKROCK INVESTMENT MANAGEMENT (AUSTRALIA) LIMITED, AMP CAPITAL INVESTORS LIMITED, PERPETUAL LIMITED – ASX PPT, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT

History proves markets resilient to global terror

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Original article by Philip Baker
The Australian Financial Review – Page: 34 : 17-Nov-15

The Australian sharemarket lost ground early in trading on 16 November 2015, in the aftermath of the Islamic terrorist attacks in Paris. However, investors returned to the market to take advantage of lower share prices, allowing the S&P/ASX 200 to close slightly above the 5,000-point level. Analysis of trading patterns following significant terrorist attacks since 2001 shows that equity markets have generally rebounded strongly after falling in the immediate aftermath of the attacks.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S 500 INDEX, BHP BILLITON LIMITED – ASX BHP, TELSTRA CORPORATION LIMITED – ASX TLS, MACQUARIE BANK LIMITED – ASX MBL

Forget China, bigger risk for local shares on the horizon

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 35 : 17-Nov-15

Hasan Tevfik of Credit Suisse warns that a rise in the global inflation rate would have a bigger impact on Australian sharemarket investors that an interest rate rise in the US or an economic slowdown in China. Credit Suisse notes that global bond yields would most likely rise if there is a spike in the US inflation rate, while Stephen Walters of JP Morgan expects the global inflation rate to rise after falling to 1.4 per cent in September 2015.

CORPORATES
CREDIT SUISSE (AUSTRALIA) LIMITED, JP MORGAN AUSTRALIA LIMITED, UNITED STATES. FEDERAL RESERVE BOARD, CAPITAL ECONOMICS LIMITED

Stocks set to tumble after French terror

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Original article by Mark Mulligan
The Australian Financial Review – Page: 21 : 16-Nov-15

Global sharemarkets are expected to be heavily sold down on 16 November 2015, as investors opt for lower-risk assets in the wake of the terrorist attacks in Paris. Australia’s benchmark S&P/ASX 200 closed at 5,051.25 on 13 November, and futures markets had already anticipated a fall below the 5,000-point level prior to the terrorist attacks. AMP Capital’s Shane Oliver does expect any downturn in the Australian market to be sustained, although he says resources stocks are likely to fall further.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, AMP CAPITAL INVESTORS LIMITED, BLOOMBERG COMMODITY INDEX, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, PEAK ASSET MANAGEMENT PTY LTD, UNITED STATES. FEDERAL RESERVE BOARD, HASSIUM ASSET MANAGEMENT, CAC 40 INDEX, EURO STOXX 50 INDEX, RESERVE BANK OF AUSTRALIA, BLOOMBERG LP

Ausbil’s Xiradis sees value in bank stocks

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Original article by Philip Baker, Vesna Poljak
The Australian Financial Review – Page: 22 : 16-Nov-15

Ausbil Investment Management boasts some $A10bn worth of funds under management, and its Active Equity Fund has achieved an annual return of 11.1 per cent since inception. Ausbil co-founder Paul Xiradis is upbeat about Australia’s four major banks, as well as other blue-chip stocks such as Woolworths and BHP Billiton. He also likes QBE Insurance Group and BlueScope Steel, and believes that Woolworths should exit the Masters hardware business.

CORPORATES
AUSBIL INVESTMENT MANAGEMENT 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, WOOLWORTHS LIMITED – ASX WOW, BHP BILLITON LIMITED – ASX BHP, TELSTRA CORPORATION LIMITED – ASX TLS, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, QBE INSURANCE GROUP LIMITED – ASX QBE, BLUESCOPE STEEL LIMITED – ASX BSL, WESFARMERS LIMITED – ASX WES, ALDI STORES SUPERMARKETS PTY LTD, COSTCO WHOLESALE AUSTRALIA PTY LTD, TREASURY WINE ESTATES LIMITED – ASX TWE, CSL LIMITED – ASX CSL, RAMSAY HEALTH CARE LIMITED – ASX RHC, CROWN RESORTS LIMITED – ASX CWN, WESTPAC INVESTMENT MANAGEMENT PTY LTD, BUNNINGS GROUP LIMITED

CEOs rapped for ‘lazy’ $20b rights splurge

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Original article by Simon Evans
The Australian Financial Review – Page: 24 : 13-Nov-15

Clime Asset Management’s John Abernethy says retail investors have questioned whether some recent capital raisings by large Australian companies were necessary. More than $A20bn has been raised by banks and other big companies in recent months, which Abernethy describes as "excessive and expensive". Santos shares were heavily sold down on 12 November 2015, in response to the oil and gas producer’s capital raising.

CORPORATES
CLIME ASSET MANAGEMENT PTY LTD, SANTOS LIMITED – ASX STO, 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, MYER HOLDINGS LIMITED – ASX MYR, ORIGIN ENERGY LIMITED – ASX ORG, TREASURY WINE ESTATES LIMITED – ASX TWE, PERPETUAL LIMITED – ASX PPT, UNITED STATES. FEDERAL RESERVE BOARD

Company insolvencies ‘may rise 10pc’

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Original article by Karen Maley
The Australian Financial Review – Page: 27 : 13-Nov-15

Ludovic Subran, the chief economist at credit insurance group Euler Hermes, has warned that the growing incidence of corporate insolvencies in emerging markets will have a flow-on effect globally in 2016. Euler Hermes forecasts that Australia will record five per cent growth in insolvencies during 2016, following an increase of around 10 per cent in 2015. Insolvencies in China are forecast to rise by 25 per cent in 2015 and 20 per cent in 2016.

CORPORATES
EULER HERMES, ALLIANZ AG HOLDING

Uncertainty clouds fate of blue-chip dividends

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 26 : 13-Nov-15

Data from Morningstar shows that the average gross dividend yield for S&P/ASX 20 stocks has risen to a seven year-high of seven per cent. Meanwhile, three of the top-20 stocks have a 12-month gross yield in excess of 10 per cent, according to Bloomberg. ST Wong of Prime Value Asset Management says the top-20 stocks should be able to maintain their dividend payouts during the next year. However, some analysts believe that banks and resources groups may need to reduce their dividends.

CORPORATES
STANDARD AND POOR’S ASX 20 INDEX, MORNINGSTAR PTY LTD, BLOOMBERG LP, PRIME VALUE ASSET MANAGEMENT LIMITED, MORGAN STANLEY AUSTRALIA LIMITED, WATERMARK FUNDS MANAGEMENT PTY LTD, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, WOODSIDE PETROLEUM LIMITED – ASX WPL, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, WOOLWORTHS LIMITED – ASX WOW, STANDARD AND POOR’S ASX 200 INDEX, UNITED STATES. FEDERAL RESERVE BOARD