K: Financial and Insurance Services

Roy Morgan announces 2014 winners of Customer Satisfaction Awards

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 19-Feb-15

Roy Morgan Research announced the winners of its fourth annual Customer Satisfaction Awards on 18 February 2015. The awards recognise outstanding levels of customer satisfaction, as judged by more than 50,000 consumers and 12,000 business decision-makers throughout 2014. The 37 award categories cover sectors such as banking, insurance, superannuation, automotive, travel and hospitality, retail, telecommunications and utilities. Roy Morgan Research CEO Michele Levine says the awards have earned a reputation as the most accurate and reliable measure of customer satisfaction in Australia

CORPORATES
ROY MORGAN RESEARCH LIMITED, LEXUS AUSTRALIA, P&N BANK, GREATER BUILDING SOCIETY LIMITED, PEOPLE’S CHOICE CREDIT UNION, DEFENCE SERVICE HOMES INSURANCE SCHEME, ESSSUPER, PLUM FINANCIAL SERVICES LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, CBHS FRIENDLY SOCIETY LIMITED, INSURANCELINE HOLDINGS PTY LTD, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, NRMA LIMITED, REST SUPER PTY LTD, AUTOBARN PTY LTD, GUARDIAN CHEMISTS, SUSSAN-SUZANNE GRAE, MICHEL’S PATISSERIE, DAVID JONES LIMITED, TARGET AUSTRALIA PTY LTD, THE REJECT SHOP LIMITED – ASX TRS, THE GOOD GUYS, TRUE VALUE HARDWARE LIMITED, CRUST PIZZA, GULL PETROLEUM PTY LTD, BETTS AND BETTS PTY LTD, BETTS KIDS, SPORTSPOWER, ALDI STORES SUPERMARKETS PTY LTD, APPLE INCORPORATED, SOUTHERN PHONE COMPANY LIMITED, INTERNODE SYSTEMS PTY LTD, AMAYSIM AUSTRALIA PTY LTD, QANTAS AIRWAYS LIMITED – ASX QAN, SINGAPORE AIRLINES LIMITED, ACTEWAGL, RED ENERGY PTY LTD

Challenger lifts interim dividend

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Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 18-Feb-15

Listed financial services group Challenger has posted a 2014-15 interim normalised net profit of $A155m, which is five per cent lower than previously. Assets under management rose by 17 per cent to $A57.2bn, and shareholders will receive an interim dividend of $A0.145 per share. Challenger aims for growth of 11-13 per cent in sales of its annuity products for 2014-15

CORPORATES
CHALLENGER LIMITED – ASX CGF, COLONIAL FIRST STATE GROUP LIMITED, VICSUPER PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, AUSTRALIA. DEPT OF SOCIAL SERVICES

Morrison prefers housing carrot to pension stick

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 18-Feb-15

The Australian Government has ruled out subjecting a retiree’s home to an assets test for eligibility for the aged pension. Social Services Minister Scott Morrison has instead proposed allowing retirees to downsize to a smaller home without having their pension affected by the proceeds from the sale. Morrison notes that retirees who opt to downsize their home are currently penalised financially

CORPORATES
AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, COUNCIL ON THE AGEING, NATIONAL SENIORS AUSTRALIA LIMITED

ANZ-Roy Morgan Consumer Confidence at Six Month Lows

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 17-Feb-15

The ANZ-Roy Morgan Consumer Confidence rating for Australia fell by 1.7 per cent in the week ended 15 February 2015, to the lowest level since early August 2014. For now, it appears that concerns about job security, weak wages growth and the economic outlook are outweighing the boost from the recent interest rate cut, lower petrol prices and rising asset values. Confidence in the economic outlook over the next year fell by 4.3 per cent, and confidence in the economic outlook over the next five years fell by 3.2 per cent

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

Challenges ahead may thwart ASX 200 tilt at the 5900 level

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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

Goodman gets big tick

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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

Good news expected for Macquarie Group

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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

Steadfast set for Asian buy

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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

Interest rate cut has instant impact at property auctions

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 5 : 16-Feb-15

Preliminary data shows that Sydney’s residential property market achieved an auction clearance rate of 77.9 per cent on the weekend of 14-15 February 2015, down from 80.5 per cent for the previous week. Melbourne’s preliminary auction clearance rate rose from 66.3 per cent to 67.4 per cent, while the national clearance rate rose from 67.3 per cent to 70 per cent. Mortgage Choice notes that the interest rate cut in February has resulted in a sharp rise in applications for home loans

CORPORATES
MORTGAGE CHOICE LIMITED – ASX MOC, RESERVE BANK OF AUSTRALIA, CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, AUSTRALIAN PROPERTY MONITORS PTY LTD, JP MORGAN AUSTRALIA LIMITED, McGRATH ESTATE AGENTS, JELLIS CRAIG AND COMPANY

ASX revving as results season hits high gear

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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