K: Financial and Insurance Services

ANZ-Roy Morgan New Zealand Consumer Confidence – Cold Snap

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 16-Jul-15

The ANZ-Roy Morgan New Zealand Consumer Confidence Index has fallen from 119.9 in June 2015 to 113.9 in July, which is its lowest level in almost three years. Sentiment has fallen by 15 points so far in 2015 and is now below its historical average of 119.1. The Current Conditions Index has fallen from 122.6 to 119.0, while the Future Conditions Index has eased from 118.1 to 110.4. Meanwhile, a net four per cent of New Zealanders believe that they are financially better off compared with last year.

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

Medibank accused of bullying in contract talks

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Original article by Jessica Gardner
The Australian Financial Review – Page: 19 : 17-Jul-15

The Australian Private Hospitals Association (APHA) has criticised Medibank Private over its dealings with private hospital operator Calvary Health Care. Medibank abandoned negotiations over a new contract with Calvary in early July 2015, and the APHA has claimed that the private health insurer used bullying tactics. Medibank has rejected the accusations and says it acted appropriately in its negotiations with Calvary.

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, CALVARY HEALTH CARE LIMITED, AUSTRALIAN PRIVATE HOSPITALS ASSOCIATION LIMITED, RAMSAY HEALTH CARE LIMITED – ASX RHC, HEALTHSCOPE LIMITED – ASX HSO

Aussie banks ready for Apple Pay

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Original article by Shaun Drummond
The Australian Financial Review – Page: 17 : 17-Jul-15

Apple is believed to be seeking a 0.15 per cent share of banks’ credit card interchange fees when it launches the Apple Pay service in Australia. The mobile payments service was officially launched in the UK on 14 July 2015, and is being supported by most of that nation’s lenders. David Gunn of Bain & Company notes that Australian banks have considerable bargaining power as they have already made a major investment in contactless payment technology.

CORPORATES
APPLE INCORPORATED, BAIN AND COMPANY, RESERVE BANK OF AUSTRALIA, VISA INTERNATIONAL, MASTERCARD AUSTRALIA LIMITED, PAYPAL INCORPORATED, WAL-MART STORES INCORPORATED, SAMSUNG CORNING COMPANY LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Canada, NZ moves point to more RBA rate cuts

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Original article by Jacob Greber, Vesna Poljak
The Australian Financial Review – Page: 1 & 8 : 17-Jul-15

The Australian dollar reached a low of $US0.7354 on 16 July 2015, after the Bank of Canada reduced its cash rate to 0.5 per cent. The Reserve Bank of New Zealand is widely tipped to ease monetary policy in July, and economists suggest that this may prompt further rate cuts in Australia before the end of the year. Citigroup anticipates a rate cut of 25 basis points in November, while Deutsche Bank forecasts that the Australian dollar will test the $US0.65 level by the end of 2016.

CORPORATES
RESERVE BANK OF AUSTRALIA, BANK OF CANADA, RESERVE BANK OF NEW ZEALAND, CITIGROUP PTY LTD, DEUTSCHE BANK AG, ROYAL BANK OF CANADA, UNITED STATES. FEDERAL RESERVE BOARD, UBS HOLDINGS PTY LTD

Perpetual takes $1.6 billion hit

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Original article by Ruth Liew, Vanessa Desloires
The Australian Financial Review – Page: 22 : 16-Jul-15

Listed wealth manager Perpetual has advised that its funds under management fell from $A34.7bn to $A30.2bn in the June 2015 quarter. Equities accounted for the bulk of the $A1.6bn worth of net outflows for the quarter. The group had reported net inflows for each of the previous seven quarters. CEO Geoff Lloyd has refuted suggestions that the rise in outflows is linked to the resignation of Matt Williams as head of equities. Perpetual shares closed 6.6 per cent lower at $A45.60 on 15 July.

CORPORATES
PERPETUAL LIMITED – ASX PPT

David Murray endorses APRA on banks’ capital

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Original article by Clancy Yeates
The Australian Financial Review – Page: 19 : 15-Jul-15

Proposed new capital requirements for banks have been described as "sensible" by financial system inquiry chairman David Murray. The Australian Prudential Regulation Authority has adopted some key recommendations of the inquiry, and Murray says he is not concerned about the fact that it rejected a recommendation for the nation’s banks to be among the top 25 in the world in terms of capital ratios.

CORPORATES
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD

IPO still draw for retailers

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Original article by Sue Mitchell, Simon Evans
The Australian Financial Review – Page: 20 : 15-Jul-15

KPMG’s Robert Bazzani notes that a number of retailers and consumer-oriented businesses are looking at an Australian IPO, despite recent sharemarket turmoil. However, he questions whether companies should consider an IPO if their market capitalisation would be less than $A100m, arguing that they risk being overlooked by fund managers and equities analysts, Upcoming IPOs include Beston Global Food Company, Costa Group and Amaysim.

CORPORATES
KPMG AUSTRALIA PTY LTD, BESTON GLOBAL FOOD COMPANY LIMITED, COSTA GROUP HOLDINGS LIMITED – ASX CGC, AMAYSIM AUSTRALIA LIMITED – ASX AYS, ADAIRS LIMITED – ASX ADH, BURSON GROUP LIMITED – ASX BAP, BEACON LIGHTING GROUP LIMITED – ASX BLX, GODFREYS GROUP LIMITED – ASX GFY, LOVISA HOLDINGS LIMITED – ASX LOV, BELLAMY’S AUSTRALIA LIMITED – ASX BAL, THE PAS GROUP LIMITED – ASX PGR, GREEN’S FOODS LIMITED, PACIFIC BRANDS LIMITED – ASX PBG, BRAND COLLECTIVE, KATHMANDU HOLDINGS LIMITED – ASX KMD, MACPAC WILDERNESS EQUIPMENT, URBAN PURVEYOR GROUP PTY LTD

Stocks to watch as the $A drops

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Original article by Rose Powell
The Australian Financial Review – Page: 21 : 15-Jul-15

The Australian dollar has shed almost 10 per cent since mid-May 2015, and more than 20 per cent in the last year. Macquarie forecasts that a number of stocks will benefit from the recent downturn in the value of the currency, including CSL, Ramsay Health Care, Telstra and Brambles. On the other hand, stocks that are tipped to fall as a result of currency weakness include SEEK, Fortescue Metals Group, WorleyParsons and Rio Tinto.

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, CSL LIMITED – ASX CSL, RAMSAY HEALTH CARE LIMITED – ASX RHC, TELSTRA CORPORATION LIMITED – ASX TLS, BRAMBLES LIMITED – ASX BXB, SEEK LIMITED – ASX SEK, FORTESCUE METALS GROUP LIMITED – ASX FMG, WORLEYPARSONS LIMITED – ASX WOR, RIO TINTO LIMITED – ASX RIO, ALS LIMITED – ASX ALQ, TRANSPACIFIC INDUSTRIES GROUP LIMITED – ASX TPI, SIMS METAL MANAGEMENT LIMITED – ASX SGM, AMCOR LIMITED – ASX AMC, SONIC HEALTHCARE LIMITED – ASX SHL, COMPUTERSHARE LIMITED – ASX CPU, COCA-COLA AMATIL LIMITED – ASX CCL, FLIGHT CENTRE TRAVEL GROUP LIMITED – ASX FLT, BLUESCOPE STEEL LIMITED – ASX BSL, CHALLENGER LIMITED – ASX CGF, MACQUARIE WEALTH MANAGEMENT, MORGANS FINANCIAL LIMITED, JP MORGAN AUSTRALIA LIMITED

Three in a row for AustralianSuper

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Original article by Sally Rose
The Australian Financial Review – Page: 21 : 15-Jul-15

Chant West expects balanced superannuation funds to achieve a median return of 9.5 per cent for 2014-15. Meanwhile, AustralianSuper has reported a return of 10.9 for its balanced option in 2014-15, while its combined return for the last three financial years was 46 per cent. Deputy CEO Mark Delaney says the sharp fall in the value of the Australian dollar contributed to the performance of the group’s balanced fund in 2014-15.

CORPORATES
CHANT WEST FINANCIAL SERVICES PTY LTD, AUSTRALIANSUPER PTY LTD, TOWERS WATSON, RICE WARNER ACTUARIES PTY LTD, FRONTIER ADVISORS PTY LTD

ANZ-Roy Morgan Australian Consumer Confidence Plunges Further

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 14-Jul-15

The ANZ-Roy Morgan Consumer Confidence rating for Australia fell by 3.6 per cent to 107.0 in the week ended 12 July 2015, following a 4.6 per cent fall in the previous week. This more than reverses the positive reaction to the May rate cut and the Commonwealth Budget in just two weeks. Confidence is now at its lowest level in 12 months. The volatility in the Chinese stock market and continuing Greek debt negotiations have driven confidence lower. This was reflected in the sub-indices on the economic outlook, which both fell by around eight per cent. The sub-index on "economic conditions in next five years" reached its lowest level since the weekly series began in October 2008.

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