K: Financial and Insurance Services

Business satisfaction with banks reaches new high – but big four lag behind smaller banks

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 13-Jan-15

A Roy Morgan Research Business Single Source survey has found that the satisfaction level of the business customers of Australia’s four major banks was 67.6 per cent in the six months to November 2014. Satisfaction with non-big four banks was 72.2 per cent. The overall satisfaction level of Australian business banking customers is at a record high of 69.6 per cent, compared with 61.4 per cent in 2010. Westpac had the highest satisfaction rating in November (71.6 per cent). Meanwhile, the satisfaction level of the personal customers of Australian banks is now 82.8 per cent, a 6.5 per cent increase since 2010

CORPORATES
ROY MORGAN RESEARCH LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

ASX stocks tipped to lag world

roymorgansocial Leave a comment

Original article by Jonathan Shapiro, Vesna Poljak
The Australian Financial Review – Page: 1 & 6 : 14-Jan-15

The MSCI World Accumulation Index has significantly outperformed Australia’s S&P/ASX All Ordinaries Accumulation Index over the last year and a five-year period. Fund managers expect international stocks to deliver better returns again in 2015, with Australian resources and banking stocks in particular likely to weigh on returns. PM Capital’s Ashley Pittard says that unlike global markets, the Australian sharemarket is in a corrective phase

CORPORATES
MORGAN STANLEY CAPITAL INTERNATIONAL WORLD ACCUMULATION INDEX, STANDARD AND POOR’S ASX ALL ORDINARIES ACCUMULATION INDEX, PM CAPITAL LIMITED, PLATINUM ASSET MANAGEMENT LIMITED – ASX PTM, PETERS MACGREGOR INVESTMENTS LIMITED, ALTIUM LIMITED – ASX ALU, STREAM GROUP LIMITED – ASX SGO, MAGELLAN FINANCIAL GROUP LIMITED – ASX MFG

Home care costs to rise in ageing nation

roymorgansocial Leave a comment

Original article by Nassim Khadem
The Australian Financial Review – Page: 15 : 14-Jan-15

A report produced by the Association of Superannuation Funds of Australia examines the estimated household budget that retirees will need for both a "modest" and "comfortable" lifestyle in retirement. It concludes that people in their 90s will generally need less income in retirement than those in their 70s, although most will also require a higher level of care in their home. More than 50 per cent of older retirees still live in their own home

CORPORATES
THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE TREASURY

Lower $A to fuel foreign profit growth

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 23 : 13-Jan-15

The eight per cent fall in the value of the Australian dollar during 2014 has been a boon for companies with a significant presence offshore, particularly in the US. The shares of companies with strong earnings in the US rose by 12.7 per cent in 2014, and Chris Nicol of Morgan Stanley is upbeat about the earnings outlook for stocks such as Macquarie Group, CSL, Goodman Group and Ansell in 2015

CORPORATES
MORGAN STANLEY AUSTRALIA LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, CSL LIMITED – ASX CSL, GOODMAN GROUP – ASX GMG, ANSELL LIMITED – ASX ANN, ALS LIMITED – ASX ALQ, BRAMBLES LIMITED – ASX BXB, NAVITAS LIMITED – ASX NVT, PHILO CAPITAL ADVISERS PTY LTD, WESTFIELD CORPORATION – ASX WFD, RESMED INCORPORATED – ASX RMD, SONIC HEALTHCARE LIMITED – ASX SHL, STANDARD AND POOR’S ASX 200 INDEX, INCITEC PIVOT LIMITED – ASX IPL

Rich Listers lose billions as sharemarket slides

roymorgansocial Leave a comment

Original article by John Stensholt
The Australian Financial Review – Page: Nov-16 : 13-Jan-15

Some Australian billionaires have reasons to be unhappy, as falling shares have had a negative impact on their wealth. Andrew Forrest, James Packer and Kerry Stokes belong to a group whose losses over the past 12 months exceeded $A5 billion combined. Frank Lowy, chairman of Westfield Corporation, is an exception, with the stock gaining 50 per cent in 12 months

CORPORATES
WESTFIELD CORPORATION – ASX WFD, FORTESCUE METALS GROUP LIMITED – ASX FMG, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, WESTRAC EQUIPMENT PTY LTD, CATERPILLAR INCORPORATED, CROWN RESORTS LIMITED – ASX CWN, MESOBLAST LIMITED – ASX MSB, WORLEYPARSONS LIMITED – ASX WOR, FREELANCER LIMITED – ASX FLN, CORPORATE TRAVEL MANAGEMENT LIMITED – ASX CTD, TRANSFIELD SERVICES LIMITED – ASX TSE, VOCUS COMMUNICATIONS LIMITED – ASX VOC, BILLABONG INTERNATIONAL LIMITED – ASX BBG, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP

Bank profits to slow, says Fitch

roymorgansocial Leave a comment

Original article by Clancy Yeates
The Australian Financial Review – Page: 15 : 13-Jan-15

Fitch Ratings notes that a decline in bad debts has contributed to the growth of Australian banks’ profits in recent years. However, a new report from Fitch warns that the banks are likely to face a rise in bad debts in 2015, which will result in lower profit growth. Factor such as rising competition in the home loans sector will also adversely affect growth in earnings

CORPORATES
FITCH RATINGS LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, UBS HOLDINGS PTY LTD, JP MORGAN AUSTRALIA LIMITED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN BUREAU OF STATISTICS

Fewer, bigger trades block HFT growth

roymorgansocial Leave a comment

Original article by Andrew White
The Australian – Page: 15 : 12-Jan-15

Australian stock exchange operator ASX has issued its trading data for December 2014, showing the first drop in the number of equity trades during a half-year since 2001. At the same time, the average value of each transaction rose 4% to $A5,663, bucking a trend caused mainly by the rise of automated high-frequency trading (HFT). Matt Williams, equities head at the Perpetual fund management firm that is the largest individual investor in ASX, says it appears that HFT is finding its "natural level". In Australia it accounts for just over a third of all trades, compared with twice that ratio in the US

CORPORATES
ASX LIMITED – ASX ASX, PERPETUAL LIMITED – ASX PPT, CHI-X AUSTRALIA PTY LTD, CITIGROUP PTY LTD, LIQUIDNET AUSTRALIA PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Legal loopholes exposed as cyclist runs down pedestrian at crossing

roymorgansocial Leave a comment

Original article by Eryk Bagshaw
The Sydney Morning Herald – Page: 8 : 12-Jan-15

There is no legal requirement in New South Wales (NSW) for cyclists to hold compulsory third party insurance. This has become an issue in a number of cases where these road users have collided with pedestrians, and the latter were then unable to claim for compensation after suffering serious injuries despite the other party having been at fault and charged with negligent driving. The NSW Motor Accidents Authority in 2013 advised Roads & Maritime Services against a proposed scheme under which an insurance levy would apply at the point of sale of new bicycles

CORPORATES
NEW SOUTH WALES. MOTOR ACCIDENTS AUTHORITY, NEW SOUTH WALES. ROADS AND MARITIME SERVICES, NEW SOUTH WALES. MINISTRY OF TRANSPORT, CITY OF SYDNEY, LEICHHARDT COUNCIL, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, PEDESTRIAN COUNCIL OF AUSTRALIA, BICYCLE NEW SOUTH WALES INCORPORATED

ANZ backs exam for financial advisers

roymorgansocial Leave a comment

Original article by Joanna Mather, Joyce Moullakis
The Australian Financial Review – Page: 3 : 12-Jan-15

The ANZ Bank’s submission to a Senate inquiry has supported a proposal to subject financial planners to an annual exam of their skills and knowledge. The bank’s submission cites a US Financial Industry Regulatory Authority exam as a model that could be considered in Australia. Centrepoint Alliance and Choice are among the other organisations that support exams for financial planners, although the Financial Planning Association does not

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN CONSUMERS’ ASSOCIATION, CENTREPOINT ALLIANCE LIMITED – ASX CAF, FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG

AMP strategist says crude likely to hit $US40 before any recovery

roymorgansocial Leave a comment

Original article by Matt Chambers
The Australian – Page: 22 : 9-Jan-15

The crude oil price is currently trading at about $US50 a barrel, but AMP Capital’s Shane Oliver says production is unlikely to be reduced until it falls to around $US40. He adds that historical analysis shows that any resulting rebound in the oil price is likely to occur gradually. Meanwhile, Oliver says investors should capitalise on any downturn in share prices as a result of the falling oil price

CORPORATES
AMP CAPITAL INVESTORS LIMITED, AMP LIMITED – ASX AMP, SANTOS LIMITED – ASX STO, OIL SEARCH LIMITED – ASX OSH, WOODSIDE PETROLEUM LIMITED – ASX WPL, KAROON GAS AUSTRALIA LIMITED – ASX KAR, ORIGIN ENERGY LIMITED – ASX ORG, AWE LIMITED – ASX AWE, BEACH ENERGY LIMITED – ASX BPT, CITIGROUP PTY LTD, SENEX ENERGY LIMITED – ASX SXY