K64 Auxiliary Finance and Insurance Services

Big things expected from small players

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Original article by Tim Boreham
The Australian – Page: 17 : 1-Sep-14

At the end of the August 2014 corporate profit reporting season, analysts say small- and medium-capitalisation stocks are set to outperform larger ones again in 2014-15. Earnings per share growth for the smaller groups was 17.7% as compared to 7% for blue chips, and is set to reach 21.7% in the current year. This is despite downgrades of between 1.5% and 3%. Among the strongest stocks have been Webjet, Slater & Gordon, G8 Education, Specialty Fashion and Nick Scali

CORPORATES
STANDARD AND POOR’S ASX SMALL ORDINARIES INDEX, WEBJET LIMITED – ASX WEB, SLATER AND GORDON LIMITED – ASX SGH, G8 EDUCATION LIMITED – ASX GEM, SPECIALTY FASHION GROUP LIMITED – ASX SFH, NICK SCALI LIMITED – ASX NCK, CAPILANO HONEY LIMITED – ASX CZZ, SELECT HARVESTS LIMITED – ASX SHV, TASSAL GROUP LIMITED – ASX TGR, TRANSFIELD SERVICES LIMITED – ASX TSE, ACRUX LIMITED – ASX ACR, CHANDLER MACLEOD GROUP LIMITED – ASX CMG, NANOSONICS LIMITED – ASX NAN, BREVILLE GROUP LIMITED – ASX BRG, SENEX ENERGY LIMITED – ASX SXY, BOART LONGYEAR LIMITED – ASX BLY, NONI B LIMITED – ASX NBL, SUBZERO GROUP LIMITED – ASX SZG, PULSE HEALTH LIMITED – ASX PHG, QANTAS AIRWAYS LIMITED – ASX QAN, ASX LIMITED – ASX ASX, CONTANGO ASSET MANAGEMENT LIMITED, SHAW STOCKBROKING LIMITED, PITCHER PARTNERS CORPORATE ADVISORY PTY LTD, LINCOLN INDICATORS PTY LTD

Perpetual returns to global equities

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Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 29-Aug-14

Listed fund manager Perpetual has reported a 2013-14 net profit of $A81.6m, which is 34 per cent higher than previously. Funds under management increased by 18 per cent to $A29.8bn. Perpetual will make a new push into international shares following the appointment of Garry Laurence to head its Global Share Fund. Perpetual shareholders will receive a final dividend of $A0.95 per share

CORPORATES
PERPETUAL LIMITED – ASX PPT, PERPETUAL’S GLOBAL SHARE FUND, THE TRUST COMPANY LIMITED, PM CAPITAL LIMITED, WELLINGTON MANAGEMENT COMPANY LLP, MACQUARIE GROUP LIMITED – ASX MQG, PLATINUM ASSET MANAGEMENT LIMITED – ASX PTM, MAGELLAN ASSET MANAGEMENT PTY LTD, TYNDALL INVESTMENT MANAGEMENT LIMITED

ASIC bid for tougher fines on corporate crime

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Original article by Anthony Klan
The Australian – Page: 21 : 27-Aug-14

The Australian Securities & Investments Commission (ASIC) has lodged a submission with the new financial system review conducted by David Murray for the Federal Government. The watchdog argues that harsher penalties should be rolled out for white-collar crimes, to ensure the perpetrators do no profit. ASIC also says it is not convinced that mandatory minimum balances should be introduced for self-managed superannuation fund accounts, and it seeks increased powers to ban unethical financial planners

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. JOINT STATUTORY COMMITTEE ON CORPORATIONS AND FINANCIAL SERVICES, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

S&P 500 makes history

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Original article by John Kehoe, Jonathan Shapiro
The Australian Financial Review – Page: 19 : 27-Aug-14

The S&P 500 scaled new heights on 25 August 2014, briefly rising above the 2,000-point level. The index reached the 1,000-point milestone for the first time in early February 1998. However, US financial stocks have underperformed over the last 16 years, gaining just 10 per cent overall. Shares in Citigroup, Bank of America and American International Group in particular have been savagely sold down since 1998, while the shares of Australia’s four major banks have surged

CORPORATES
STANDARD AND POOR’S 500 INDEX, CITIGROUP INCORPORATED, BANK OF AMERICA CORPORATION, AMERICAN INTERNATIONAL GROUP INCORPORATED, 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, PM CAPITAL LIMITED, DELTEC INTERNATIONAL GROUP, JP MORGAN AND COMPANY INCORPORATED

Fairfax-Nine rumours quashed

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Original article by Jake Mitchell
The Australian Financial Review – Page: 17 : 27-Aug-14

The combined stake of 36% in Nine Entertainment held by US-based hedge funds Oaktree Capital and Apollo Global Management will come out of escrow on 28 August 2014. There have been claims in News Corporation newspaper "The Australian" that rival publisher Fairfax Media is preparing to acquire a major holding in Nine. However due to current cross-media ownership laws it would only be able to purchase 14.99% of the free-to-air TV group, and Fairfax has rejected the speculation

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, OAKTREE CAPITAL MANAGEMENT LLC, APOLLO GLOBAL MANAGEMENT LLC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CITIGROUP PTY LTD

How stocks have fared in a post-results world

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Original article by Patrick Commins
The Australian Financial Review – Page: 29 : 27-Aug-14

Analysis by Bloomberg shows that Nine Entertainment Group, Slater & Gordon, Seven West Media, Crown Resorts and Rio Tinto are the most popular Australian-listed stocks among analysts as the August 2014 reporting season winds down. Meanwhile, M2 Group and OzForex have received the biggest upgrades in terms of analysts’ recommendations, while Tatts Group and Lynas Corporation are the stocks that have been downgraded the most

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SLATER AND GORDON LIMITED – ASX SGH, SEVEN WEST MEDIA LIMITED – ASX SWM, CROWN RESORTS LIMITED – ASX CWN, RIO TINTO LIMITED – ASX RIO, M2 GROUP LIMITED – ASX MTU, OZFOREX GROUP LIMITED – ASX OFX, TATTS GROUP LIMITED – ASX TTS, LYNAS CORPORATION LIMITED – ASX LYC, BLOOMBERG LP, THE REJECT SHOP LIMITED – ASX TRS, CARSALES.COM LIMITED – ASX CRZ, RUSSELL INVESTMENTS PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN, COCHLEAR LIMITED – ASX COH, ALS LIMITED – ASX ALQ, LEIGHTON HOLDINGS LIMITED – ASX LEI, COCA-COLA AMATIL LIMITED – ASX CCL

Almond harvest profits go nuts

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Original article by Sue Neales
The Australian – Page: 20 : 26-Aug-14

Select Harvests has posted a 2013-14 full-year net profit increase to an all-time high $A29m, as almond prices rose by a third and this compensated for a harvest that was down 17% after a poor season. The company has acquired three additional orchards and will source $A47m in fresh capital via a share issue priced at $A5.35. The final distribution is $A0.09 unfranked. MD Paul Thompson said Select Harvests was aiming to reduce its gearing to below 40%

CORPORATES
SELECT HARVESTS LIMITED – ASX SHV

Escrow test ahead for ASX debutants

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Original article by Vesna Poljak, Philip Baker
The Australian Financial Review – Page: 15 & 20 : 26-Aug-14

Investors in companies that listed in late 2013 and early 2014 will be able to sell stock from late August 2014. Shares worth nearly $A3 billion will come out of escrow. Veda Group revealed that shares valued at $A1.1 billion will be released from escrow on 27 August. Geminder Holdings said that it will not sell down its stake in Pact Group when about $A465 million of shares come out of escrow on the same day

CORPORATES
VEDA GROUP LIMITED – ASX VED, PACT GROUP HOLDINGS LIMITED – ASX PGH, GEMINDER HOLDINGS PTY LTD, PERPETUAL LIMITED – ASX PPT, PACIFIC EQUITY PARTNERS PTY LTD, DICK SMITH HOLDINGS LIMITED – ASX DSH, ANCHORAGE CAPITAL PARTNERS PTY LTD, WOOLWORTHS LIMITED – ASX WOW, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, APOLLO GLOBAL MANAGEMENT LLC, OAKTREE CAPITAL MANAGEMENT LLC, OZFOREX GROUP LIMITED – ASX OFX, MYER HOLDINGS LIMITED – ASX MYR, MEDIBANK PRIVATE LIMITED, HEALTHSCOPE LIMITED – ASX HSO, ESTIA HEALTH PTY LTD, RETIRE AUSTRALIA PTY LTD, HOYTS CINEMAS LIMITED, OOH!MEDIA PTY LTD, APN OUTDOOR PTY LTD

ASX chief pleads for reform gridlock to end

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Original article by Andrew White
The Australian – Page: 17 : 25-Aug-14

Federal Trade and Investment Minister Andrew Robb recently said the Government was already rolling out measures to boost competitiveness, after a report was issued by the Business Council of Australia (BCA). It had argued the Government should foster certain industries that have a natural edge over others. The study, commissioned from McKinsey & Company, sparked claims the BCA was "picking winners". This has now been rejected by new BCA board member Elmer Funke Kupper, CEO of stock exchange operator ASX

CORPORATES
ASX LIMITED – ASX ASX, BUSINESS COUNCIL OF AUSTRALIA, McKINSEY AND COMPANY, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

Debutantes on parade as company profit season winds down

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Original article by Sally Rose, Jonathan Shapiro
The Australian Financial Review – Page: 15 & 20 : 25-Aug-14

A number of companies that listed on the Australian sharemarket in the last year will shortly release their maiden full-year results as listed companies. These include Virtus Health, Spotless Group and Nine Entertainment Group. Meanwhile, Tanya Branwhite of Macquarie Group notes that increased dividends have been a key feature of the August 2014 reporting season

CORPORATES
VIRTUS HEALTH LIMITED – ASX VRT, SPOTLESS GROUP HOLDINGS LIMITED – ASX SPO, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, MACQUARIE GROUP LIMITED – ASX MQG, PERPETUAL INVESTMENTS, PERPETUAL LIMITED – ASX PPT, CIMB SECURITIES INTERNATIONAL (AUSTRALIA) PTY LTD, RESERVE BANK OF AUSTRALIA, NAVITAS LIMITED – ASX NVT, G8 EDUCATION LIMITED – ASX GEM, AURIZON HOLDINGS LIMITED – ASX AZJ, WOOLWORTHS LIMITED – ASX WOW, TELSTRA CORPORATION LIMITED – ASX TLS, WESFARMERS LIMITED – ASX WES, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, DICK SMITH HOLDINGS LIMITED – ASX DSH, MONADELPHOUS GROUP LIMITED – ASX MND, BRADKEN LIMITED – ASX BKN, DOWNER EDI LIMITED – ASX DOW, WORLEYPARSONS LIMITED – ASX WOR, UGL LIMITED – ASX UGL, TRANSFIELD SERVICES LIMITED – ASX TSE, MONASH IVF GROUP LIMITED – ASX MVF, VEDA GROUP LIMITED – ASX VED, JAPARA HEALTHCARE LIMITED – ASX JHC, ISELECT LIMITED – ASX ISU, ISENTIA GROUP LIMITED – ASX ISD, CITIGROUP PTY LTD