Gindalbie ‘at risk’ of collapse

Original article by Paul Garvey
The Australian – Page: 18 : 13-Jan-16

The future of Gindalbie Metals is uncertain following Ansteel’s decision to cease providing funding for the Karara magnetite ore mine in Western Australia. The Chinese group has a 52 per cent stake in the mine, which has a workforce of 1,000. Gindalbie has advised that there now are doubts about its ability to continue as a going concern, prompting its shares to fall to a record low of $A0.08 on 12 January 2016. The stock traded at $A1.40 in 2011, when the iron ore price was around $A180 per tonne.

CORPORATES
GINDALBIE METALS LIMITED – ASX GBG, ANSHAN IRON AND STEEL COMPANY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

All sectors in the red, seven ASX stocks rise

Original article by Jessica Sier
The Australian Financial Review – Page: 26 : 12-Jan-16

Australian resources and financial stocks were heavily sold down in 2015, a trend that has continued in 2016. The financial sector has shed 8.12 per cent in the year to date, while the materials sector is down 9.32 per cent. Defensive stocks such as retailers and telcos have also fallen sharply, although the healthcare sector has shed just 3.84 per cent. JB Hi-Fi, Evolution Mining, Newcrest Mining and Regis Resources are among the few S&P/ASX 200 stocks to be in the black so far in 2016.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, JB HI-FI LIMITED – ASX JBH, EVOLUTION MARKETS LLC, NEWCREST MINING LIMITED – ASX NCM, REGIS RESOURCES LIMITED – ASX RRL, AUSTRALIAN PHARMACEUTICAL INDUSTRIES LIMITED – ASX API, PRIMARY HEALTH CARE LIMITED – ASX PRY, RESMED INCORPORATED – ASX RMD, CREDIT SUISSE (AUSTRALIA) LIMITED, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, TELSTRA CORPORATION LIMITED – ASX TLS, WOOLWORTHS LIMITED – ASX WOW, COLES GROUP LIMITED

China panic sparks share-selling frenzy

Original article by Stephen Cauchi
The Australian Financial Review – Page: 26 : 8-Jan-16

The Australian sharemarket lost ground on 7 January 2016, with the S&P/ASX 200 shedding 2.2 per cent to close at 5,010.3. The bearish sentiment was prompted by factors such as lower-than-expected building approvals data, further moves by China to devalue the yuan and the Brent crude oil price’s fall to an 11-year low. The Commonwealth Bank was 2.1 per cent lower at $A80.41 and BHP Billiton eased 4.8 per cent to end the session at $A16.33. Santos was down 7.4 per cent at $A3.25 and Telstra fell by 1.5 per cent to finish at $A5.32.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BHP BILLITON LIMITED – ASX BHP, SANTOS LIMITED – ASX STO, TELSTRA CORPORATION LIMITED – ASX TLS, RIO TINTO LIMITED – ASX RIO, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WOODSIDE PETROLEUM LIMITED – ASX WPL, OIL SEARCH LIMITED – ASX OSH, SPOTLESS GROUP HOLDINGS LIMITED – ASX SPO, RUSSELL INVESTMENTS PTY LTD, PEOPLE’S BANK OF CHINA, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX, DOW JONES INDUSTRIAL AVERAGE INDEX, NIKKEI 225 INDEX, HANG SENG INDEX, SHANGHAI COMPOSITE INDEX, STRAITS TIMES INDEX, CSI 300 INDEX

ASX loses $50b in new year rout

Original article by Mark Mulligan
The Australian Financial Review – Page: 1 & 6 : 7-Jan-16

A move by the People’s Bank of China to devalue the renminbi by 0.22 per cent weighed on the Australian sharemarket on 6 January 2016. The benchmark S&P/ASX 200 Index fell by around 1.2 per cent. It has now shed 3.3 per cent in the year to date, reducing the local sharemarket’s capitalisation by $A50bn. Global investor sentiment in 2016 has also been hit by factors such as concerns about the economic outlook for China, weak commodity prices and North Korea’s detonation of a hydrogen bomb.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, PEOPLE’S BANK OF CHINA, PEAK ASSET MANAGEMENT PTY LTD, SHANGHAI COMPOSITE INDEX, HSBC BANK PLC, SOCIETE GENERALE, UNITED STATES. FEDERAL RESERVE BOARD, BLOOMBERG LP

Investors downbeat on ASX growth prospects

Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 6-Jan-16

Australia’s S&P/ASX 200 Index shed 1.3 per cent in 2015, and a survey by Investment Trends shows that investors expect the sharemarket to rise by less than five per cent in 2016. King Loong Choi of Investment Trends notes that investor sentiment is being affected by factors such as low interest rates, sharemarket volatility, the slowing Australian economy and the uncertain outlook for the Chinese economy.

CORPORATES
INVESTMENT TRENDS PTY LTD, STANDARD AND POOR’S ASX 200 INDEX, GEM CAPITAL FINANCIAL ADVICE, HENDERSON GROUP PLC – ASX HGG, BHP BILLITON LIMITED – ASX BHP, QBE INSURANCE GROUP LIMITED – ASX QBE, MACQUARIE GROUP LIMITED – ASX MQG

Bega Cheese in billion-dollar milestone

Original article by Tim Binsted
The Australian Financial Review – Page: 14 : 6-Jan-16

Bega Cheese had a market capitalisation of around $A250m when it listed on the Australian sharemarket in August 2011. The former dairy co-operative’s market value topped $A1bn in late December 2015, and its share price rose by 42 per cent during the calendar year. The stock has benefited from plans for a nutritional foods joint venture deal with Blackmores, which amongst other things will tap into the growing demand for infant formula.

CORPORATES
BEGA CHEESE LIMITED – ASX BGA, BLACKMORES LIMITED – ASX BKL, THE A2 MILK COMPANY LIMITED – ASX A2M, BELLAMY’S AUSTRALIA LIMITED – ASX BAL, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, MG UNIT TRUST – ASX MGC, FONTERRA CO-OPERATIVE GROUP LIMITED, FONTERRA SHAREHOLDERS’ FUND – ASX FSF, BESTON GLOBAL FOOD COMPANY LIMITED – ASX BFC, WARRNAMBOOL CHEESE AND BUTTER FACTORY COMPANY HOLDINGS LIMITED – ASX WCB, SAPUTO INCORPORATED

ASX soars above 5000 in pre-Fed rally

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

ASX dives below 5000 amid Fed rate jitters

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

No shock at plunge: Dick Smith

Original article by Patrick Hatch
The Australian Financial Review – Page: 14 : 8-Dec-15

Shares in Dick Smith Holdings (DSH) closed at $A0.36 on 7 December 2015, after reaching a low of $A0.20 in the previous week. The household electronics retailer’s stock was issued at $A2.20 in a $A520m IPO in 2013. Businessman Dick Smith says investors should not be surprised by the slump, noting that Woolworths has sold DSH for just $A94m only one year before the float. However, Smith is confident that the fortunes of the company he founded in 1968 can be revived.

CORPORATES
DICK SMITH HOLDINGS LIMITED – ASX DSH, WOOLWORTHS LIMITED – ASX WOW, ANCHORAGE CAPITAL PARTNERS PTY LTD, JB HI-FI LIMITED – ASX JBH, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, APPLE INCORPORATED, SAMSUNG ELECTRONICS COMPANY LIMITED

Dick Smith on defence as shares fall

Original article by Sue Mitchell
The Australian Financial Review – Page: 13 & 18 : 1-Dec-15

Shares in Dick Smith Holdings closed 57 per cent lower at $A0.28 on 30 November 2015, after reaching an intra-day low of $A0.20. The sell-off was prompted by the household electronics retailer’s decision to write down the value of its inventory by 20 per cent. Some fund managers have questioned whether Dick Smith will remain solvent, but such concerns have been downplayed by the retailer. Dick Smith shares were issued at $A2.20 in 2013, providing a huge windfall for Anchorage Capital Partners.

CORPORATES
DICK SMITH HOLDINGS LIMITED – ASX DSH, ANCHORAGE CAPITAL PARTNERS PTY LTD, WOOLWORTHS LIMITED – ASX WOW, FORAGER FUNDS MANAGEMENT PTY LTD