Some growth stocks overpriced, warns UBS

Original article by Vanessa Desloires
The Australian Financial Review – Page: 31 : 27-Oct-15

TPG Telecom and Domino’s Pizza Enterprises are among the companies that have been added to UBS Australia’s list of "quality growth" stocks. The stocks on this list delivered a total return of 21.5 per cent in the year to 14 October 2015, compared with a return of 10.2 per cent for the S&P/ASX 100 ex-resources index. David Cassidy of UBS notes that stocks on the firm’s list have a median price-earnings ratio of 20.5 times.

CORPORATES
UBS HOLDINGS PTY LTD, TPG TELECOM LIMITED – ASX TPM, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, CSL LIMITED – ASX CSL, WOOLWORTHS LIMITED – ASX WOW, WESFARMERS LIMITED – ASX WES, SEEK LIMITED – ASX SEK, DULUXGROUP LIMITED – ASX DLX, CARSALES.COM LIMITED – ASX CAR, RESMED INCORPORATED – ASX RMD, RAMSAY HEALTH CARE LIMITED – ASX RHC, COCHLEAR LIMITED – ASX COH, REA GROUP LIMITED – ASX REA, ASX LIMITED – ASX ASX, TATTS GROUP LIMITED – ASX TTS, TABCORP HOLDINGS LIMITED – ASX TAH, MACQUARIE WEALTH MANAGEMENT, HEALTHSCOPE LIMITED – ASX HSO, SONIC HEALTHCARE LIMITED – ASX SHL, COVER-MORE GROUP LIMITED – ASX CVO, BREVILLE GROUP LIMITED – ASX BRG, STANDARD AND POOR’S ASX 100 INDEX

Cross-border M&A to climb, law firm says

Original article by Joyce Moullakis
The Australian Financial Review – Page: 35 : 15-Oct-15

A Baker & McKenzie report shows that the value of cross-border mergers and acquisitions rose by 10 per cent to US375bn ($A518bn) in the September 2015 quarter. However, the number of transactions fell by 16 per cent year-on-year. Baker & McKenzie partner David Holland expects an increase in the proportion of M&A deals that are cross-border transactions. Meanwhile, data from Dealogic shows that some $US88.9bn worth of M&A deals involving Australian companies have been announced so far in 2015.

CORPORATES
BAKER AND McKENZIE, DEALOGIC (AUSTRALIA) PTY LTD, TOLL HOLDINGS LIMITED, ASCIANO LIMITED – ASX AIO, VEDA GROUP LIMITED – ASX VED, DELL COMPUTER CORPORATION, EMC CORPORATION, ANHEUSER-BUSCH INBEV SA/NV, SABMILLER PLC, HEALTHSCOPE LIMITED – ASX HSO, MYOB GROUP LIMITED – ASX MYO, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD

Richest families make second fortunes

Original article by John Stensholt
The Australian Financial Review – Page: 3 : 8-Oct-15

The Smorgon family has topped the 2015 "BRW Rich Families List", with estimated wealth of $A2.74bn. The combined fortunes of the 50 families on the 2015 list is $A41.18bn, compared with $A40.1bn in 2014. Many families on the list are expanding into the property development sector, after making their fortunes in other industries.

CORPORATES
BAIADA POULTRY PTY LTD, STEGGLES HOLDINGS LIMITED, LILYDALE, SWISSE WELLNESS PTY LTD, BIOSTIME INTERNATIONAL HOLDINGS LIMITED, INTRAPAC PROJECTS PTY LTD, LEWIS LAND CORPORATION LIMITED, HARD YAKKA, BEST AND LESS PTY LTD, BANNA PROPERTY PTY LTD

IOOF slapped with class action

Original article by Adele Ferguson, Sarah Danckert
The Australian Financial Review – Page: 29 : 8-Oct-15

Australian-listed financial services group IOOF Holdings faces a shareholder class action over claims that staff in its research department failed to comply with disclosure requirements. The legal action has been launched by law firm Maurice Blackburn with financial backing from UK-based Harbour Litigation Funding. The class action will be open to investors who bought IOOF shares between December 2013 and June 2015.

CORPORATES
IOOF HOLDINGS LIMITED – ASX IFL, MAURICE BLACKBURN PTY LTD, HARBOUR LITIGATION FUNDING LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FAIRFAX MEDIA LIMITED – ASX FXJ, LONSEC LIMITED, MORNINGSTAR PTY LTD

ASX tipped to reach 6200 by end-2016

Original article by Vanessa Desloires
The Australian Financial Review – Page: 20 : 7-Oct-15

Citigroup is upbeat about the outlook for global sharemarkets, with equity strategist Robert Buckland suggesting that the market has entered a "maturing bull" phase. The S&P 500 in the US and Australia’s benchmark S&P/ASX 200 have risen strongly so far in October 2015, and Citigroup now expects the ASX 200 to top 6,200 points by the end of 2016. Its previous forecast for this date was 6,000 points.

CORPORATES
CITIGROUP INCORPORATED, STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S 500 INDEX, MORGAN STANLEY CAPITAL INTERNATIONAL ALL COUNTRY WORLD INDEX, RESERVE BANK OF AUSTRALIA

ASX loses $55b in Glencore-led sell-off

Original article by Stephen Cauchi
The Australian Financial Review – Page: 32 : 30-Sep-15

The Australian sharemarket fell sharply on 29 September 2015, with the S&P/ASX 200 shedding 3.8 per cent to close at 4,918.4. The slump was prompted by a big fall in the share price of UK-listed Glencore, with the resources sector being hardest hit. BHP Billiton was down 6.6 per cent to a seven-year low of $A21.61 and Paladin Energy was 13.1 per cent lower at $A0.165. Meanwhile, the ANZ/Roy Morgan consumer confidence index fell by 3.4 per cent in the week ended 27 September, following a sharp rise after Malcolm Turnbull became Prime Minister.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, BHP BILLITON LIMITED – ASX BHP, PALADIN ENERGY LIMITED – ASX PDN, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, TELSTRA CORPORATION LIMITED – ASX TLS, KAROON GAS AUSTRALIA LIMITED – ASX KAR, ORIGIN ENERGY LIMITED – ASX ORG, AWE LIMITED – ASX AWE, SANTOS LIMITED – ASX STO, ARRIUM LIMITED – ASX ARI, MORGANS FINANCIAL LIMITED, AUSTRALIAN STOCK REPORT LIMITED, GLENCORE PLC, ROY MORGAN RESEARCH LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. FEDERAL RESERVE BOARD, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX

Stocks to buy in uncertain times

Original article by Vanessa Desloires
The Australian Financial Review – Page: 33 : 29-Sep-15

John Conomos of Macquarie Securities says a number of Australian-listed stocks should perform well amid the current volatility and uncertainty in global financial markets. Telstra, ResMed and Aristocrat Leisure are deemed to have the lowest sensitivity to uncertainty, based on Macquarie’s metrics. Other stocks include TPG Telecom, CSL, Stockland, Federation Centres, Caltex, Wesfarmers and Bank of Queensland.

CORPORATES
MACQUARIE SECURITIES PTY LTD, RESMED INCORPORATED – ASX RMD, ARISTOCRAT LEISURE LIMITED – ASX ALL, TPG TELECOM LIMITED – ASX TPM, CL PLASTICS AND CONSULTANTS PTY LTD, STOCKLAND – ASX SGP, FEDERATION CENTRES – ASX FDC, CALTEX AUSTRALIA LIMITED – ASX CTX, WESFARMERS LIMITED – ASX WES, BANK OF QUEENSLAND LIMITED – ASX BOQ, UNITED STATES. FEDERAL RESERVE BOARD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Re-think urged on share income tax

Original article by Joanna Mather
The Australian Financial Review – Page: 11 : 25-Sep-15

Australia’s dividend imputation system is under scrutiny in the wake of BHP Billiton’s proposal to use a payment from its Australian-listed company to fund a dividend payout for British shareholders. This would result in Australian shareholders losing some franking credits. Fidelity Australian Opportunities Fund portfolio manager Kate Howitt says the dividend imputation system should be retained, as shareholders in large companies often use their dividends to invest in smaller and more innovative businesses.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, FIDELITY AUSTRALIAN OPPORTUNITIES FUND, KPMG AUSTRALIA PTY LTD, CORPORATE TAX ASSOCIATION, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

ASX recovers from low to close above 5000

Original article by Vesna Poljak, Mark Mulligan
The Australian Financial Review – Page: 26 : 25-Sep-15

The Australian sharemarket rebounded on 24 September 2015, with the S&P/ASX 200 adding 73.57 points to close at 5,071. Rio Tinto was 0.6 per cent higher at $A48.30 and Senex Energy advanced 24 per cent to end the session at $A0.155 Wesfarmers rose by 2.5 per cent to finish at $A39.14 and Metcash was up 5.05 per cent at $A1.04

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, RIO TINTO LIMITED – ASX RIO, SENEX ENERGY LIMITED – ASX SXY, WESFARMERS LIMITED – ASX WES, METCASH LIMITED – ASX MTS, BHP BILLITON LIMITED – ASX BHP, WOOLWORTHS LIMITED – ASX WOW, NORTHERN STAR RESOURCES LIMITED – ASX NST, ILUKA RESOURCES LIMITED – ASX ILU, SYRAH RESOURCES LIMITED – ASX SYR, SANTOS LIMITED – ASX STO, G8 EDUCATION LIMITED – ASX GEM, IG MARKETS LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ALDI STORES SUPERMARKETS PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, IGA, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX

Miners savaged as ASX plunges below 5000

Original article by Vanessa Desloires
The Australian Financial Review – Page: 34 : 24-Sep-15

The Australian sharemarket lost ground on 23 September 2015, with the S&P/ASX 200 shedding 105.4 points to close at 4,998.1. The Commonwealth Bank was down three per cent at $A71.60 and BHP Billiton was 4.4 per cent lower at $A22.80. Telstra eased 0.9 per cent to end the session at $A5.62 and Woolworths fell by 1.7 per cent to finish at $A24.38.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BHP BILLITON LIMITED – ASX BHP, TELSTRA CORPORATION LIMITED – ASX TLS, WOOLWORTHS LIMITED – ASX WOW, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, LIQUEFIED NATURAL GAS LIMITED – ASX LNG, WESFARMERS LIMITED – ASX WES, NUFARM LIMITED – ASX NUF, IG MARKETS LIMITED, SAXO CAPITAL MARKETS (AUSTRALIA) PTY LTD, FIDELITY AUSTRALIAN OPPORTUNITIES FUND, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX