K: Financial and Insurance Services

ASX soars above 5000 in pre-Fed rally

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 26 : 17-Dec-15

The Australian sharemarket posted strong gains on 16 December 2015, with the S&P/ASX 200 adding 118.8 points to close at 5,028.4. The Commonwealth Bank was 2.9 per cent higher at $A79.09 and BHP Billiton rose 5.6 per cent to end the session at $A17.18. However, Primary Healthcare shed 9.7 per cent to finish at $A2.33 and Sonic Healthcare was 5.6 per cent lower at $A17.46.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BHP BILLITON LIMITED – ASX BHP, PRIMARY HEALTH CARE LIMITED – ASX PRY, SONIC HEALTHCARE LIMITED – ASX SHL, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, TELSTRA CORPORATION LIMITED – ASX TLS, ORIGIN ENERGY LIMITED – ASX ORG, WHITEHAVEN COAL LIMITED – ASX WHC, SANTOS LIMITED – ASX STO, WESFARMERS LIMITED – ASX WES, WOOLWORTHS LIMITED – ASX WOW, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, CROWN RESORTS LIMITED – ASX CWN, PRIME VALUE ASSET MANAGEMENT LIMITED, IG MARKETS LIMITED, CONSOLIDATED PRESS HOLDINGS LIMITED, JOEY’S PIZZA, UNITED STATES. FEDERAL RESERVE BOARD, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX

US stocks rise on Fed rate hike

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Original article by Chelsey Dulaney
The Australian – Page: Online : 17-Dec-15

The US Federal Reserve has increased the federal funds rate by 25 basis points at its monetary policy meeting in mid-December 2015. It is the first rise in US short-term interest rates since December 2008. Investors will now be seeking guidance from Federal Reserve chair Janet Yellen on the likely timing of further rate increases. The move to tighten monetary policy has bolstered Wall Street, while the gold price and the US dollar have also risen.

CORPORATES
UNITED STATES. FEDERAL RESERVE BOARD, DOW JONES INDUSTRIAL AVERAGE INDEX, STANDARD AND POOR’S 500 INDEX, NASDAQ COMPOSITE INDEX, O’NEILL SECURITIES, NEW YORK STOCK EXCHANGE, EURO STOXX 50 INDEX

ANZ-Roy Morgan Australian Consumer Confidence: A Cheerier Christmas

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 15-Dec-15

The ANZ-Roy Morgan Consumer Confidence rating for Australia fell by 0.8 per cent to 115.4 in the week ended 13 December 2015, consolidating after the 3.1 per cent bounce in the previous week. Confidence remains well above levels seen last Christmas (up 4.7 per cent compared with this time last year), and is still above its long- run average. The decline was relatively broad-based, with confidence in financial conditions falling by 2.6 per cent and the economic outlook down 1.3 per cent. Roy Morgan Research executive chairman Gary Morgan says the Turnbull Government has injected confidence in the economy, but the end of the commodities boom is only now starting to have an impact on the Australian economy. Unless real action is taken to get the private sector moving consumer confidence will deteriorate in 2016. Tax reform alone will be of limited value while significant sectors of the economy, such as the cost of the Public Sector and the "cash economy", are immune.

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

ASX dives below 5000 amid Fed rate jitters

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 26 : 15-Dec-15

The Australian sharemarket lost ground on 14 December 2015, with the S&P/ASX 200 shedding 100.9 points to close at 4,928.6. The Commonwealth Bank eased 1.9 per cent to end the session at $A77.44, BHP Billiton was down 3.5 per cent at $A16.60 and Woolworths fell 1.8 per cent to finish at $A22.59. However, Regis Resources advanced 8.6 per cent to close at $A2.28.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BHP BILLITON LIMITED – ASX BHP, WOOLWORTHS LIMITED – ASX WOW, REGIS RESOURCES LIMITED – ASX RRL, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, TELSTRA CORPORATION LIMITED – ASX TLS, WESFARMERS LIMITED – ASX WES, CSL LIMITED – ASX CSL, LIQUEFIED NATURAL GAS LIMITED – ASX LNG, MORGANS FINANCIAL LIMITED, CONTANGO ASSET MANAGEMENT LIMITED, UNITED STATES. FEDERAL RESERVE BOARD, THIRD AVENUE FOCUSED CREDIT FUND, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX, STANDARD AND POOR’S 500 INDEX

Bank branches under threat

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Original article by Sally Rose
The Australian Financial Review – Page: 16 : 14-Dec-15

Gerard du Toit of Bain & Company says Australian banks may close 10-30 per cent of their bank branches within five years, as the trend toward mobile banking gathers pace. He notes that the number of visits to branches fell by nearly 10 per cent year-on-year in the September 2015 quarter. However, du Toit cautions banks against shifting their focus to digital banking before it is fully accepted by customers, particularly those in older age demographics.

CORPORATES
BAIN AND COMPANY, ABN AMRO BANK NV, FACEBOOK INCORPORATED

ANZ-Roy Morgan New Zealand Consumer Confidence – Summer Break

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 11-Dec-15

The ANZ-Roy Morgan New Zealand Consumer Confidence Index has fallen by four points to 118.7 in December 2015, easing off November’s six-month high. The Current Conditions Index has fallen by one point to 122.1, while the Future Conditions Index has fallen by six points to 116.3. Meanwhile, the number of New Zealanders who believe that they are financially better off compared with 12 months ago has fallen by three per cent to six per cent.

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

Australian Roy Morgan Business Confidence still positive in November but showing signs of "cooling off"

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 8-Dec-15

A Roy Morgan Business Single Source survey has found that Australian business confidence fell by 0.6 points to 118.7 in November 2015, but remained above the five-year average of 116.9. This decline in confidence was probably to be expected, given the big increase in the two months following Malcolm Turnbull becoming Prime Minister, which saw business confidence increase by 16.3 per cent. The small drop in business confidence in November was a result of only marginal declines in both the five-year economic outlook and the view that the next 12 months would be a good time to invest in growing the business. However, both of these measures remain at positive levels and are above the five-year average.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

ANZ-Roy Morgan Australian Consumer Confidence bounces back to 116.3 (up 3.5pts)

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 8-Dec-15

The ANZ-Roy Morgan Consumer Confidence rating for Australia rose by 3.1 per cent to 116.3 in the week ended 6 December 2015. Confidence has now retraced most of the falls seen in the last three weeks, and levels are now back well above their long-run average. The strength was seen across all sub-indices. The sub-index on consumers’ views towards their current finances rose by 5.4 per cent, while the sub-index on economic conditions in the next 12 months rose by 3.3 per cent.

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

No slow down in 2016 for hot M&A volumes

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 17 : 9-Dec-15

Data from Dealogic shows that mergers and acquisitions activity involving Australian companies has risen by 80 per cent so far in 2015, to $US124.9bn ($A170.9m). This includes 23 deals worth $US1bn ($A1.4bn). Alex Cartel of Deutsche Bank forecasts further growth in M&A activity in 2016, while Gareth Cope of Rothschild Australia says the country remains highly attractive to offshore investors. Meanwhile, equity capital market issuance has reached its highest level since 2009, at more than $US42bn.

CORPORATES
DEALOGIC (AUSTRALIA) PTY LTD, DEUTSCHE BANK AG, NM ROTHSCHILD AUSTRALIA HOLDINGS PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, UBS HOLDINGS PTY LTD, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, WOODSIDE PETROLEUM LIMITED – ASX WPL, OIL SEARCH LIMITED – ASX OSH, SANTOS LIMITED – ASX STO, SCEPTER PARTNERS, BROADSPECTRUM LIMITED – ASX BRS, TRANSGRID, VEDA GROUP LIMITED – ASX VED, EQUIFAX INCORPORATED, ASCIANO LIMITED – ASX AIO, CALTEX AUSTRALIA LIMITED – ASX CTX, CHEVRON CORPORATION, HEALTHSCOPE LIMITED – ASX HSO, TPG CAPITAL LP, THE CARLYLE GROUP

Listed companies too afraid to provide guidance, study says

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Original article by Jonathan Shapiro
The Australian Financial Review – Page: 1 & 11 : 8-Dec-15

McGrathNicol has released a report which shows that just 49 per cent of the 104 Australian-listed companies it surveyed have released earnings guidance in 2015, compared with 57 per cent in 2014. The survey also found that the number of companies that met or exceeded their earnings guidance fell from 69 per cent in 2014 to 64 per cent. Factors such as concern about class actions and challenging market conditions in some sectors have contributed to companies’ reluctance to release earnings guidance.

CORPORATES
McGRATH NICOL AND PARTNERS SERVICES PTY LTD, ASX LIMITED – ASX ASX, BROADSPECTRUM LIMITED – ASX BRS, JB HI-FI LIMITED – ASX JBH, PACIFIC BRANDS LIMITED – ASX PBG