K64 Auxiliary Finance and Insurance Services

‘Impact investors’ want tax breaks

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Original article by Sally Rose
The Australian Financial Review – Page: 20 : 9-Jun-15

STREAT provides training for about 125 disadvantaged people in Victoria each year. The social enterprise will be able to train 250 people each year when its new hospitality training facility in Melbourne is completed in around 18 months’ time. Social Ventures Australia, which helped to negotiate an $A2.5m loan for STREAT, has urged the Australian Government’s tax inquiry to provide tax breaks for so-called social impact investments.

CORPORATES
STREAT LIMITED, SOCIAL VENTURES AUSTRALIA LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Citi finds value in 2015’s star stocks

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Original article by Vesna Poljak
The Australian Financial Review – Page: 23 : 5-Jun-15

Australia’s benchmark S&P/ASX 200 is currently trading on a price-earnings ratio of 16.5 times earnings forecasts. Citigroup has identified six stocks that continue to offer good value for investors: Macquarie Group, Harvey Norman, Lend Lease Group, Mirvac Group, IOOF Holdings and Incitec Pivot. Citigroup also nominates Woolworths, Metcash, QBE Insurance Group, Fletcher Building and Orica as stocks that could stage rebounds.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, CITIGROUP PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, LEND LEASE GROUP LIMITED – ASX LLC, MIRVAC GROUP – ASX MGR, IOOF HOLDINGS LIMITED – ASX IFL, INCITEC PIVOT LIMITED – ASX IPL, WOOLWORTHS LIMITED – ASX WOW, METCASH LIMITED – ASX MTS, QBE INSURANCE GROUP LIMITED – ASX QBE, FLETCHER BUILDING LIMITED – ASX FBU, ORICA LIMITED – ASX ORI, WESTPAC BANKING CORPORATION – ASX WBC, AMCOR LIMITED – ASX AMC, WESFARMERS LIMITED – ASX WES, APA GROUP – ASX APA, ASX LIMITED – ASX ASX, COMPUTERSHARE LIMITED – ASX CPU, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, BANK OF QUEENSLAND LIMITED – ASX BOQ, ANSELL LIMITED – ASX ANN, PRIMARY HEALTH CARE LIMITED – ASX PRY

Soaring small caps perturb strategists

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Original article by Rose Powell, Patrick Commins
The Australian Financial Review – Page: 25 : 3-Jun-15

Australian-listed small-capitalisation industrial stocks have rallied since March 2015, while industrials in the S&P/ASX 50 have generally underperformed. Investor support for small-caps has been driven by factors such as an upturn in the sector’s return on equity (ROE), as well as a corresponding decline in ROE for larger stocks. Meanwhile, Matthew Ross of Goldman Sachs says valuations in the small-cap sector may have become stretched.

CORPORATES
GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, STANDARD AND POOR’S ASX 50 INDEX, STANDARD AND POOR’S ASX 200 INDEX, RESERVE BANK OF AUSTRALIA, IPROPERTY GROUP LIMITED – ASX IPP, NEXTDC LIMITED – ASX NXT, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, TECHNOLOGY ONE LIMITED – ASX TNE, CORPORATE TRAVEL MANAGEMENT LIMITED – ASX CTD, INFOMEDIA LIMITED – ASX IFM, SIRTEX MEDICAL LIMITED – ASX SRX, ALTIUM LIMITED – ASX ALU, MANTRA GROUP LIMITED – ASX MTR, TFS CORPORATION LIMITED – ASX TFC

Buy shares, not bonds, says Morgan Stanley

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Original article by Rose Powell
The Australian Financial Review – Page: 23 : 2-Jun-15

Morgan Stanley forecasts that Australian shares will deliver a return of 5.8 per cent over the next 12 months and 10.3 per cent in the longer-term. Meanwhile, the firm expects international shares to achieve a short-term return of 15.4 per cent and 10.3 per cent in the long-term. However, Morgan Stanley is bearish about the outlook for Australian bonds and global sovereign bonds.

CORPORATES
MORGAN STANLEY AUSTRALIA LIMITED, AMP CAPITAL INVESTORS LIMITED, UNITED STATES. FEDERAL RESERVE BOARD, PERPETUAL LIMITED – ASX PPT

Chi-X issues new challenge to ASX

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Original article by Shaun Drummond, Jonathan Shapiro
The Australian Financial Review – Page: 19 : 1-Jun-15

Stock exchange operator Chi-X Australia will begin offering warrants trading later in 2015, entering a market that has been shunned in recent years. Chi-X CEO John Fildes notes that just one company currently issues warrants in Australia, and blames ASX Limited’s high fees. Chi-X also plans to allow equities to be traded for an additional eight minutes after the official close of trading, while it will begin offering exchange-traded funds in 2016.

CORPORATES
CHI-X AUSTRALIA PTY LTD, ASX LIMITED – ASX ASX, MACQUARIE GROUP LIMITED – ASX MQG, STOXX, DEUTSCHE BOERSE, SWISS STOCK EXCHANGE

Macquarie, Domino’s top in M&A value

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 23 : 29-May-15

Intralinks and the Cass Business School have released a report which examined more than 265,000 mergers and acquisitions deals globally over two decades. Some 82 of the companies that were regarded as being excellent corporate portfolio managers are based in Australia. They include Macquarie Group, Domino’s Pizza Enterprises, M2 Group, Challenger and the ANZ Bank.

CORPORATES
INTRALINKS INCORPORATED, CASS BUSINESS SCHOOL, CITY UNIVERSITY, LONDON, MACQUARIE GROUP LIMITED – ASX MQG, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, M2 GROUP LIMITED – ASX MTU, CHALLENGER LIMITED – ASX CGF, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, RETAIL FOOD GROUP LIMITED – ASX RFG, SILVER LAKE RESOURCES LIMITED – ASX SLR, DOMINO’S PIZZA JAPAN INCORPORATED, TERRA FIRMA CAPITAL PARTNERS LIMITED, DELAWARE INVESTMENTS, FOX-PITT KELTON COCHRAN CARONIA WALLER LLC

AGL, New Hope to take hit from Norway divestment

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Original article by Ben Potter
The Australian Financial Review – Page: 23 : 29-May-15

Norway’s Government Pension Fund Global exited the share register of Whitehaven Coal in 2014, following a government directive to terminate its exposure to the coal sector. The Norwegian Government now wants the sovereign wealth fund to divest shares in electricity companies that have a high exposure to coal-fired generation and mining companies whose revenues are heavily weighted toward thermal coal. This could force it to offload shares in AGL Energy and New Hope Corporation.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, NEW HOPE CORPORATION LIMITED – ASX NHC, WHITEHAVEN COAL LIMITED – ASX WHC, GOVERNMENT PENSION FUND GLOBAL (NORWAY), BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, SOUTH32 LIMITED – ASX S32, MACQUARIE GENERATION, LOY YANG A, YANCOAL AUSTRALIA LIMITED – ASX YAL, COKAL LIMITED – ASX CKA, COCKATOO COAL LIMITED – ASX COK, AXA SA, OXFORD UNIVERSITY, CLIMATE INSTITUTE (AUSTRALIA) LIMITED

Gina drops a lazy $6 billion, but she’s still atop the pile as our richest person

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Original article by John Stensholt
The Australian Financial Review – Page: 1 & 6 : 29-May-15

The personal wealth of iron ore magnate Gina Rinehart is estimated to be $A14.02bn in the latest "BRW" Rich List. Her wealth has fallen by $A5.99bn since 2014, but she remains the wealthiest individual in Australia. Visy Industries’ Anthony Pratt and Meriton’s Harry Triguboff round out the top three, with estimated wealth of $A10.76bn and $A10.23bn respectively. The 2015 Rich List features 49 billionaires, compared with 39 in 2014.

CORPORATES
VISY INDUSTRIES AUSTRALIA PTY LTD, MERITON APARTMENTS PTY LTD, PRATT INDUSTRIES (USA) INCORPORATED, WESTFIELD CORPORATION – ASX WFD, SCENTRE GROUP – ASX SCG, LOWY FAMILY GROUP, SHIMAO PROPERTY HOLDINGS LIMITED, UNIVERSITY OF SOUTH AUSTRALIA, PLATINUM ASSET MANAGEMENT LIMITED – ASX PTM, CROWN RESORTS LIMITED – ASX CWN, FORTESCUE METALS GROUP LIMITED – ASX FMG

Banks, miners tipped for drop

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Original article by Tim Binsted
The Australian Financial Review – Page: 29 : 26-May-15

Credit Suisse notes that Australian-listed companies’ dividend payout ratios are at their highest levels in more than two decades. Richard Hitchens of Credit Suisse notes that investors recently sold down bank stocks after their interim dividends were lower than expected. He adds that groups such as Aurizon, GPT Group and Santos may also find it hard to increase their dividends.

CORPORATES
CREDIT SUISSE (AUSTRALIA) LIMITED, AURIZON HOLDINGS LIMITED – ASX AZJ, GPT GROUP – ASX GPT, SANTOS LIMITED – ASX STO, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, TELSTRA CORPORATION LIMITED – ASX TLS, DEUTSCHE BANK AG, UNITED STATES. FEDERAL RESERVE BOARD, EUROPEAN CENTRAL BANK

Capex in focus amid hopes for outlook

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Original article by Vesna Poljak
The Australian Financial Review – Page: 22 : 25-May-15

Futures traders expect the Australian sharemarket to shed nine points when trading resumes on 25 May 2015. The market is likely to take its cue from the US, with the Dow Jones Industrial Average and the S&P 500 losing ground on 22 May. Meanwhile, investors will be awaiting the release of the capital expenditure survey data for the March quarter, which Paul Bloxham of HSBC expects to be similar to the data for the December 2014 quarter.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, DOW JONES INDUSTRIAL AVERAGE INDEX, STANDARD AND POOR’S 500 INDEX, HSBC AUSTRALIA HOLDINGS PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BLOOMBERG LP, UNITED STATES. FEDERAL RESERVE BOARD