K64 Auxiliary Finance and Insurance Services

Good news expected for Macquarie Group

roymorgansocial Leave a comment

Original article by Joyce Moullakis
The Australian Financial Review – Page: 21 : 17-Feb-15

Macquarie Group is tipped to post a 2014-15 profit of $A1.46bn, and there has been speculation that the group could again upgrade its earnings forecast. Macquarie upgraded its full-year earnings guidance in January, due to factors such as the lower Australian dollar and a high level of volatility in commodity prices. Macquarie posted a profit of $A1.27bn for the year to 31 March 2014. Its shares have gained 17.5 per cent so far in 2015

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, MORGAN STANLEY AUSTRALIA LIMITED, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, STANDARD AND POOR’S ASX 200 FINANCIALS INDEX, ARNHEM INVESTMENT MANAGEMENT PTY LTD, GE CAPITAL CORPORATION, JEFFERIES LLC, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Challenges ahead may thwart ASX 200 tilt at the 5900 level

roymorgansocial Leave a comment

Original article by John Wasiliev
The Australian Financial Review – Page: 30 : 17-Feb-15

Australia’s benchmark S&P/ASX 200 Index closed just below the 5,900-point threshold on 16 February 2015. OANDA’s Stuart McPhee notes that 5,800 has been a key resistance level for the index, which he believes will find support at that level. Factors such as the corporate reporting season and the imminent closure of Asian markets for Chinese New Year are likely to influence the S&P/ASX 200 in the near-term, and its ability to rise above 5,900 points

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, OANDA AUSTRALIA PTY LTD, CMC MARKETS PTY LTD, BHP BILLITON LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AMP LIMITED – ASX AMP, SANTOS LIMITED – ASX STO, LEIGHTON HOLDINGS LIMITED – ASX LEI, AMCOR LIMITED – ASX AMC, IG MARKETS LIMITED

Steadfast set for Asian buy

roymorgansocial Leave a comment

Original article by Ruth Liew
The Australian Financial Review – Page: 20 : 17-Feb-15

Australian-listed Steadfast Group has reported a 2014-15 interim profit of $A21m, which is 11.5 per cent higher than previously. The insurance broking group’s cash earnings per share also rose by 11.5 per cent, to $A4.18. Steadfast has secured a deal to acquire Body Corporate Brokers and two underwriting agencies from QBE Insurance Group for $A290m. It is keen to pursue further acquisitions in Australia, as well as in Singapore

CORPORATES
STEADFAST GROUP LIMITED – ASX SDF, QBE INSURANCE GROUP LIMITED – ASX QBE, BODY CORPORATE BROKERS, UNDERWRITING AGENCIES OF AUSTRALIA PTY LTD, CHU UNDERWRITING AGENCIES PTY LTD, UBS HOLDINGS PTY LTD, IC FRITCH, JP MORGAN AUSTRALIA LIMITED, MACQUARIE CAPITAL PTY LTD, STANDARD AND POOR’S ASX 200 INDEX

Goodman gets big tick

roymorgansocial Leave a comment

Original article by Sue Mitchell, Sarah Thompson
The Australian Financial Review – Page: 19 : 17-Feb-15

Goodman Fielder shareholders will vote on a proposed $A1.3bn takeover bid by Wilmar International and First Pacific on 26 February 2015. Australia’s Foreign Investment Review Board approved the deal in late 2014, and the Chinese Government gave the green light on 16 February. The offer of $A0.675 per share also requires approval in New Zealand. Hedge funds bought about 160 million of the target’s shares in early February, and stand to make a healthy profit from the transaction

CORPORATES
GOODMAN FIELDER LIMITED – ASX GFF, WILMAR INTERNATIONAL LIMITED, FIRST PACIFIC COMPANY LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, CHINA. MINISTRY OF COMMERCE, NEW ZEALAND. OVERSEAS INVESTMENT COMMISSION, ELLERSTON CAPITAL PTY LTD, DEUTSCHE BANK AG, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION

ASX revving as results season hits high gear

roymorgansocial Leave a comment

Original article by Bianca Hartge-Hazelman
The Australian Financial Review – Page: 20 : 16-Feb-15

Futures traders expect Australia’s S&P/ASX 200 to advance 29 points when trading resumes on 16 February 2015. The benchmark index closed at a seven-year high of 5,877.5 on 13 February. A number of blue-chip stocks are slated to release their latest financial results in the coming week, while the prospect of further monetary policy easing should also bolster sentiment toward equities. Meanwhile, the Australian dollar has fallen to $US0.7744 and it is widely tipped to lose more ground

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, AMCOR LIMITED – ASX AMC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, FORTESCUE METALS GROUP LIMITED – ASX FMG, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, WESFARMERS LIMITED – ASX WES, CITIGROUP PTY LTD, RESERVE BANK OF AUSTRALIA, UNITED STATES. FEDERAL OPEN MARKET COMMITTEE, AMP CAPITAL INVESTORS LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RIO TINTO LIMITED – ASX RIO, TELSTRA CORPORATION LIMITED – ASX TLS

Scrap 15pc ownership cap: Funke Kupper

roymorgansocial Leave a comment

Original article by James Eyers
The Australian Financial Review – Page: 17 : 13-Feb-15

ASX Limited has reported a profit rise of 4.7 per cent for the first half of 2014-15. ASX CEO Elmer Funke Kupper said on 12 February 2015 that the stock exchange operator’s ownership cap of 15 per cent is no longer needed and should be removed. He says that globally, stock exchanges are being consolidated and the Australian stock exchange should be allowed to be part of this trend

CORPORATES
ASX LIMITED – ASX ASX, CHI-X AUSTRALIA PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, COUNCIL OF FINANCIAL REGULATORS

Investors win with Telstra plan

roymorgansocial Leave a comment

Original article by David Ramli
The Australian Financial Review – Page: 13 & 18 : 13-Feb-15

Telstra has posted a 2014-15 interim net profit of $A2.1bn, which is 21.7 per cent higher than previously. The telco boasted revenue of $A13bn for the half-year, while its mobile subscriber base rose by 366,000 to 16.4 million. Shareholders will receive an interim dividend of $A0.15 per share, although some market watchers had anticipated a higher payout. Telstra will also resume its dividend reinvestment plan, which has been dormant since 2008

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, SINGTEL OPTUS PTY LTD, SINGAPORE TELECOMMUNICATIONS LIMITED – ASX SGT, CREDIT SUISSE (AUSTRALIA) LIMITED, NIKKO ASSET MANAGEMENT GROUP

CBA shares forecast to push $100 within a year

roymorgansocial Leave a comment

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

Rio Tinto leads $10b in payouts

roymorgansocial Leave a comment

Original article by Amanda Saunders
The Australian Financial Review – Page: 1 & 12 : 13-Feb-15

Rio Tinto’s underlying earning for calendar 2014 were nine per cent lower than previously at $US9.3bn, although the result was better than analysts had expected. Rio will repurchase some $US2bn ($A2.6bn) worth of its shares, while a 12 per cent increase in its full-year dividend means a total of $US6bn ($A7.8bn) will be returned to shareholders. The resources group’s net debt has been reduced to $A12.5bn, compared with $US22bn in mid-2013

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, DEUTSCHE BANK AG, UBS HOLDINGS PTY LTD, AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED – ASX AFI, BHP BILLITON LIMITED – ASX BHP, TELSTRA CORPORATION LIMITED – ASX TLS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, TRANSURBAN GROUP LIMITED – ASX TCL, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT

Atlassian fast tracks NYSE float

roymorgansocial Leave a comment

Original article by Patrick Durkin
The Australian Financial Review – Page: 3 : 12-Feb-15

Australian entrepreneurs Scott Farquhar and Mike Cannon-Brookes are currently in 35th and 36th place on the "BRW" Rich List. However, their personal wealth is likely to increase significantly if Atlassian Software lists on the US sharemarket. The company has recruited former eBay executive Erik Bardman to fill the post of CFO. Atlassian president Jay Simons has given indications that the group could pursue an IPO in 2015

CORPORATES
ATLASSIAN SOFTWARE SYSTEMS PTY LTD, EBAY INCORPORATED, GENERAL ELECTRIC COMPANY, NEW YORK STOCK EXCHANGE, NASDAQ, ORACLE CORPORATION, SAP AG, IBM CORPORATION, MICROSOFT CORPORATION, COCHLEAR LIMITED – ASX COH, UNITED STATES. NATIONAL AERONAUTICS AND SPACE ADMINISTRATION, T ROWE PRICE GROUP INCORPORATED, DRAGONEER INVESTMENT GROUP LLC, HORTONWORKS, NEW RELIC, BOX, CISCO SYSTEMS INCORPORATED, CITRIX SYSTEMS INCORPORATED