K: Financial and Insurance Services

ANZ-Roy Morgan Australian Consumer Confidence edges lower to 114.9 (down 0.3pts)

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 20-Jul-16

ANZ-Roy Morgan Australian Consumer Confidence has fallen for the fourth week in a row, down 0.3 per cent to 114.9 in the week ending 17 July 2016. The headline index is now 3.3 per cent lower than four weeks ago. Consumers’ views of their current finances edged 0.2 per cent higher last week, while consumers’ views of the economic outlook in the next 12 months rose by 3.1 per cent.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Australian bourse charts course higher but big tests ahead

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Original article by Jessica Sier
The Australian Financial Review – Page: 26 : 19-Jul-16

Australia’s benchmark S&P/ASX 200 has rallied in the wake of the UK’s vote to leave the European Union, rising above 5,400 points. Listed gold producers in particular have risen strongly amid the global trend toward "safe haven" assets, although the broader materials sector has also performed well. Meanwhile, the local market may benefit from the US equities rally, while the upturn in commodity prices in 2016 and Australia’s upcoming August corporate reporting season bode well for domestic shares.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, CREDIT SUISSE (AUSTRALIA) LIMITED, RESERVE BANK OF AUSTRALIA, IG MARKETS LIMITED, STANDARD AND POOR’S 500 INDEX, JP MORGAN AND COMPANY INCORPORATED, CSL LIMITED – ASX CSL, COCHLEAR LIMITED – ASX COH, RESMED INCORPORATED – ASX RMD, AMCOR LIMITED – ASX AMC, BRAMBLES LIMITED – ASX BXB, RIVKIN SECURITIES PTY LTD

ANZ-Roy Morgan New Zealand Consumer Confidence slips to 118.2 in July (down 0.7pts)

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 18-Jul-16

The ANZ-Roy Morgan New Zealand Consumer Confidence Index has fallen from 118.9 to 118.2 in July 2016. However, it is holding in at levels of elevation, and in line with its historical average. In seasonally adjusted terms confidence rose from 118 to 119, the second monthly rise in a row. The Current Conditions and Future Conditions indices were both down by a small amount, but they were up marginally in seasonally adjusted terms.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Only extreme event will trigger RBA QE

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Original article by Mark Mulligan
The Australian Financial Review – Page: 3 : 18-Jul-16

Perpetual Investment’s Matt Sherwood says geopolitical tensions would not be a sufficient reason for the Reserve Bank of Australia to implement quantitative easing. He argues that such measures would only be necessary if there were a major crisis such as the collapse of the Chinese economy. The RBA has developed a strategy for implementing quantitative easing, and Sherwood says this demonstrates that the central bank wants to be more prepared than it was at the onset of the global financial crisis in 2008.

CORPORATES
RESERVE BANK OF AUSTRALIA, PERPETUAL INVESTMENTS, UNITED STATES-CHINA JOINT COMMISSION ON COMMERCE AND TRADE, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT

Investors to shrug off events in Turkey

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Original article by Mark Mulligan
The Australian Financial Review – Page: 20 : 18-Jul-16

Futures traders expect the Australian sharemarket to shed about 11 points when trading resumes on 18 July 2016, in response to growing geopolitical tensions worldwide. With a dearth of upcoming local economic data, investors will be awaiting the release of the minutes from the Reserve Bank’s monthly board meeting. Meanwhile,, the latest US economic data may provide some guidance on the timing of any change in US monetary policy.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, RESERVE BANK OF AUSTRALIA, UNITED STATES. FEDERAL RESERVE BOARD, RESERVE BANK OF NEW ZEALAND, INTERNATIONAL MONETARY FUND, STANDARD AND POOR’S 500 INDEX, MORGAN STANLEY CAPITAL INTERNATIONAL EMERGING MARKETS INDEX, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, EUROPEAN CENTRAL BANK, FEDERAL RESERVE BANK OF PHILADELPHIA

Moody’s issues bleak outlook for banks

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Original article by Jonathan Shapiro
The Australian Financial Review – Page: 19 : 15-Jul-16

Australian banks are likely to experience pressure on their profit margins because of low interest rates. Frank Mirenzi of Moody’s states in a report released on 14 July 2016 that household debt has increased as a result of rising house prices and low income growth. At present, the big four banks have an "Aa2" rating from Moody’s and an "AA-" rating from Standard & Poor’s.

CORPORATES
MOODY’S INVESTORS SERVICE INCORPORATED, STANDARD AND POOR’S CORPORATION, RESERVE BANK OF AUSTRALIA, HSBC BANK PLC, WELLS FARGO AND COMPANY, BNY MELLON ASSET MANAGEMENT AUSTRALIA LIMITED

Super-size me: NAB banks on giant new fund

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Original article by Michael Bennet
The Australian – Page: 23 : 14-Jul-16

National Australia Bank’s MLC Super Fund has become the nation’s second-largest superannuation fund and the biggest retail fund after five separate funds were amalgamated. The enlarged MLC Super boasts some $A70bn worth of funds under management, and NAB has indicated that rationalising its super funds is likely to result in lower fees for members. The consolidation of its super funds will also enable NAB to separate its super and investment businesses from its life insurance arm, in which a controlling stake has been sold to Nippon Life.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, MLC LIMITED, NIPPON LIFE INSURANCE COMPANY LIMITED, AUSTRALIANSUPER PTY LTD

ANZ-Roy Morgan Australian Consumer Confidence falls further – down 0.6pts to 115.2

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 13-Jul-16

ANZ-Roy Morgan Australian Consumer Confidence has fallen for the third week in a row, down 0.5 per cent to 115.2 in the week ending 10 July 2016. Uncertainty related to the election result and lingering concerns over the global outlook likely remain key factors behind the recent decline. Last week’s downgrade from Standard & Poor’s to the outlook for Australia’s credit rating – from stable to negative – could also have weighed on sentiment. Consumers’ views of their current finances edged 0.3 per cent higher, but households’ views of the economic outlook in the next 12 months fell by 4.1 per cent.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Retirees urged to tap into home equity

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Original article by Sally Rose
The Australian Financial Review – Page: 17 : 13-Jul-16

AustralianSuper CEO Ian Silk says the superannuation fund may seek to offer a broader range of retirement income products in coming years. This could include home equity release products, which allow homeowners to capitalise on the value of their home without the risks associated with reverse mortgages. Silk concedes that there are significant problems with some retirement income products that are currently available, and says the industry must work hard to address the issue.

CORPORATES
AUSTRALIANSUPER PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

There’s still value on Wall Street, fund managers say

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 27 : 13-Jul-16

Perpetual’s Garry Laurence says the US sharemarket may have peaked, after the S&P 500 reached a new high in mid-July 2016. He anticipates further market volatility, and identifies Merck, Sanofi, Oracle, EMC and Zhaopin as the best buying opportunities among US-listed stocks. Wingate Asset Management’s Chad Padowitz notes that some sectors of the US sharemarket offer better value than others at present, and he favours stocks such as Citigroup, Bank of America, Allergan and Sanofi.

CORPORATES
PERPETUAL LIMITED – ASX PPT, WINGATE ASSET MANAGEMENT PTY LTD, STANDARD AND POOR’S 500 INDEX, MERCK AND COMPANY INCORPORATED, SANOFI PHARMACEUTICALS, ORACLE CORPORATION, EMC CORPORATION, ZHAOPIN LIMITED, CITIGROUP INCORPORATED, BANK OF AMERICA CORPORATION, ALLERGAN INCORPORATED, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT, BANK OF ENGLAND, BANK OF JAPAN, RESERVE BANK OF AUSTRALIA, RESERVE BANK OF NEW ZEALAND, JAPAN. OFFICE OF THE PRIME MINISTER