K64 Auxiliary Finance and Insurance Services

Orica launches $400m share buyback

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Original article by Tim Binsted
The Australian Financial Review – Page: 17 : 3-Mar-15

Australian-listed Orica has revealed plans for an on-market share buyback from mid-March 2016. The explosives group intends to repurchase up to $A400m worth of shares over the next 12 months, following the sale of its chemicals division to Blackstone for $A750m. The private equity firm has announced that the business will be known as Ixom. It boasts EBIT of around $A110m and revenue of $A1.2bn

CORPORATES
ORICA LIMITED – ASX ORI, THE BLACKSTONE GROUP LP, IXOM, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, CITIGROUP PTY LTD, LAZARD PTY LTD, FONTERRA CO-OPERATIVE GROUP LIMITED, NUFARM LIMITED – ASX NUF, CALTEX AUSTRALIA LIMITED – ASX CTX, SYDNEY WATER CORPORATION, BLUESCOPE STEEL LIMITED – ASX BSL

Stunned traders caught in the glare of ASX200’s headlights

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Original article by John Wasiliev
The Australian Financial Review – Page: 28 : 3-Mar-15

The Australian sharemarket reached its highest level in seven years on 2 March 2015, ahead of the Reserve Bank’s monthly board meeting. More than 50 per cent of economists expect the central bank to reduce the cash rate again, after a 25 basis point cut in February. However, opinion is divided as to whether the benchmark S&P/ASX 200 will breach the 6,000-point level in the near-term

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, CMC MARKETS PTY LTD, RESERVE BANK OF AUSTRALIA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX, TELSTRA CORPORATION LIMITED – ASX TLS, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, FAIRFAX MEDIA LIMITED – ASX FXJ, WORLEYPARSONS LIMITED – ASX WOR, TOLL HOLDINGS LIMITED – ASX TOL, WOOLWORTHS LIMITED – ASX WOW, MYER HOLDINGS LIMITED – ASX MYR, WESFARMERS LIMITED – ASX WES, IG MARKETS LIMITED, OANDA AUSTRALIA PTY LTD, THINKFOREX

Bets mount on second cash rate cut in weeks

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Original article by Mark Mulligan
The Australian Financial Review – Page: 22 : 2-Mar-15

Futures traders expect the Australian sharemarket to lose ground when trading resumes on 2 March 2015. With the reporting season over, investors are likely to focus on economic data to be released in the coming week, as well as the Reserve Bank’s monthly board meeting. The recent release of disappointing capital expenditure data has heightened speculation that the central bank could reduce the cash rate again in March, following a 25-basis point cut in February

CORPORATES
RESERVE BANK OF AUSTRALIA, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, UBS HOLDINGS PTY LTD, PEOPLE’S BANK OF CHINA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, STANDARD AND POOR’S ASX 200 INDEX, WOOLWORTHS LIMITED – ASX WOW

Equity volumes soar on low rates

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 18 : 2-Mar-15

Data from IRESS shows that equity trading volumes in Australia rose by 15 per cent to $A438.9bn during the first two months of 2015. This is the highest level of trading activity for the first two months of the year since 2008, and the S&P/ASX 200 Index is close to breaching the 6,000-point level. Meanwhile, a number of companies are slated to undertake IPOs in the near-term, including MYOB, Fleetpartners and GenesisCare

CORPORATES
IRESS LIMITED – ASX IRE, STANDARD AND POOR’S ASX 200 INDEX, MYOB TECHNOLOGY PTY LTD, FLEET PARTNERS PTY LTD, GENESIS CARE PTY LTD, TOUCHCORP LIMITED, ASX LIMITED – ASX ASX, CHI-X AUSTRALIA PTY LTD, AURIZON HOLDINGS LIMITED – ASX AZJ, VEDA GROUP LIMITED – ASX VED, EVOLUTION MINING LIMITED – ASX EVN, FAIRFAX MEDIA LIMITED – ASX FXJ, UBS HOLDINGS PTY LTD, EUROZ LIMITED – ASX EZL, DEUTSCHE BANK AG, CITIGROUP PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, MACQUARIE SECURITIES PTY LTD

IFM to invest in international equities

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Original article by Amanda Saunders
The Australian Financial Review – Page: 27 : 2-Mar-15

IFM Investors will expand into international shares, as part of its growing push to diversify beyond Australian asset classes. CEO Brett Himbury argues that the nation’s superannuation system needs to reduce its focus on the local sharemarket, noting that many of the group’s clients already have exposure to offshore equities. IFM began investing in overseas infrastructure assets several years ago

CORPORATES
IFM INVESTORS PTY LTD, MAGELLAN FINANCIAL GROUP LIMITED – ASX MFG, PLATINUM ASSET MANAGEMENT LIMITED – ASX PTM

Numbers add up for new millionaires

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Original article by Ruth Liew
The Australian Financial Review – Page: 18 : 2-Mar-15

Data from Investments Trends shows that the number of high net worth investors in Australia rose by 43,500 in 2014, to 443,500. They collectively control some $A1.6trn worth of investable assets. The nation also boasts 580,000 people with investable assets of between $A500,000 and $A1m. The research also shows that just 40 per cent of high net worth investors obtained professional advice in 2014

CORPORATES
INVESTMENT TRENDS PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ANZ PRIVATE BANK, PERPETUAL LIMITED – ASX PPT, COMMONWEALTH FINANCIAL PLANNING LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

IOOF still on hunt for takeover targets

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Original article by Sally Rose
The Australian Financial Review – Page: 16 : 27-Feb-15

Australian-listed IOOF Holdings has posted a 2014-15 underlying net profit of $A80.58m, which is 39 per cent higher than previously. The financial services group’s statutory net profit rose by 37 per cent to $A65.9m, and revenue was 24 per cent higher at $A458.49m. Shareholders will receive an interim dividend of $A0.25 per share. CEO Chris Kelahar says IOOF is keen for further acquisitions after buying SFG Australia in 2014

CORPORATES
IOOF HOLDINGS LIMITED – ASX IFL, SFG AUSTRALIA LIMITED, JP MORGAN AUSTRALIA LIMITED

Bank price bubble fear

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Original article by Patrick Commins
The Australian Financial Review – Page: 23 : 27-Feb-15

Minack Advisors’ Gerard Minack says valuations in Australia’s banking sector would be severely affected by a sharp downturn in the nation’s economy. He also warns that bank stocks could face a major bubble as investors increasingly turn to equities in search of better yields than those available from cash investments such as term deposits. The shift to equities is likely to accelerate amid expectations of further official interest rate cuts

CORPORATES
MINACK ADVISORS PTY LTD, MAPLE-BROWN ABBOTT LIMITED

Xero soars and eyes US listing

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Original article by Paul Smith
The Australian Financial Review – Page: 23 & 28 : 26-Feb-15

Australian-listed online accounting software developer Xero has received a $NZ132.9 million ($A127.6 million) investment from US firm Accel Partners. Xero CEO Rod Drury said the company will seek a US listing at the end of 2015. Its shares rose sharply on 25 February, closing 27.8 per cent higher at $A22.60

CORPORATES
XERO LIMITED – ASX XRO, ACCEL PARTNERS, ATLASSIAN SOFTWARE SYSTEMS PTY LTD, FACEBOOK INCORPORATED, MATRIX CAPITAL PTY LTD

ASIC used legal powers to extract NAB information

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Original article by Clancy Yeates
The Australian Financial Review – Page: 14 : 26-Feb-15

The corporate regulator is reviewing compensation paid to clients of National Australia Bank who received inappropriate financial advice. Greg Medcraft, the chairman of the Australian Securities & Investments Commission, said on 25 February 2015 that the regulator asked the bank for more information about compensation. The bank paid between $A10 million and $A15 million to aggrieved customers

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AMP LIMITED – ASX AMP, MACQUARIE GROUP LIMITED – ASX MQG