SHARE PRICES – AUSTRALIA

Iron ore plunges to 10-year low

roymorgansocial Leave a comment

Original article by Daniel Palmer
The Australian – Page: Online : 25-Nov-15

The price of iron ore for immediate delivery to China’s port of Tianjin has fallen by 1.8 per cent to its lowest level in a decade, at $US43.40 per tonne. The previous low of $US44.10 per tonne was recorded in July 2015. The sharp decline in the iron ore price has weighed heavily on Australian producers, with BHP Billiton, Rio Tinto, Fortescue Metals Group, BC Iron and Mount Gibson Iron recording double-digit share price falls in the last month.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, BC IRON LIMITED – ASX BCI, MOUNT GIBSON IRON LIMITED – ASX MGX, PORT OF TIANJIN, THE STEEL INDEX LIMITED, GUOTAI JUNAN SECURITIES COMPANY LIMITED, VALE SA

Raw goods stocks make two-speed sharemarket

roymorgansocial Leave a comment

Original article by Philip Baker
The Australian Financial Review – Page: 26 : 24-Nov-15

Australia’s benchmark S&P/ASX 200 Index has shed 2.57 per cent so far in 2015, but the energy and materials indices have shed 26 per cent and 15 per cent respectively. The selldown of commodity stocks has resulted in a two-speed sharemarket, with sectors such as utilities, industrials and health outperforming the broader market. Meanwhile, the end of the resources boom means the eastern states’ economies are now outperforming Western Australia.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, BHP BILLITON LIMITED – ASX BHP, SANTOS LIMITED – ASX STO, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, UBS HOLDINGS PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG

OzForex co-founders big winners from Western Union bid

roymorgansocial Leave a comment

Original article by Shaun Drummond, Sarah Thompson, Michael Bailey, Anthony Macdonald, Joyce Moullakis
The Australian Financial Review – Page: 13 & 18 : 20-Nov-15

Shares in online foreign exchange group OzForex closed 30 per cent higher at $A3.38 on 19 November 2015, in response to Western Union’s $A888m takeover approach The indicative offer is non-binding and may not result in a formal takeover bid, but OzForex’s co-founder Matthew Gilmour expects the company to attract other bids. He notes that a number of overseas groups were interested in buying OzForex prior to its IPO in 2013.

CORPORATES
OZFOREX GROUP LIMITED – ASX OFX, WESTERN UNION FINANCIAL SERVICES INCORPORATED, DEUTSCHE BANK AG, MACQUARIE GROUP LIMITED – ASX MQG, CLAYTON UTZ, GRESHAM PARTNERS LIMITED, EURONET WORLDWIDE INCORPORATED, DEUTSCHE BOERSE, TRAVELWISE, WORLD FIRST, NEW YORK STOCK EXCHANGE, VEDA GROUP LIMITED – ASX VED, EQUIFAX INCORPORATED, ISELECT LIMITED – ASX ISU, PROVIDENCE EQUITY PARTNERS INCORPORATED

Qantas back from ‘junk’ credit rating

roymorgansocial Leave a comment

Original article by Jamie Freed
The Australian Financial Review – Page: 15 & 20 : 18-Nov-15

Standard & Poor’s has upgraded the credit rating of Qantas to "BBB-" with a "stable" outlook. Qantas had lost its investment-grade credit rating in December 2013 due to its financial problems. Meanwhile, CEO Allan Joyce is upbeat about the outlook for the airline, forecasting that average annual growth in the domestic market will rise to three per cent in the fiscal years from 2016 to 2020. Qantas shares rose by $A0.21 to $A3.76 on 17 November 2015.

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, STANDARD AND POOR’S CORPORATION, MOODY’S INVESTORS SERVICE INCORPORATED, UBS HOLDINGS PTY LTD, MERRILL LYNCH (AUSTRALIA) PTY LTD, AIR NEW ZEALAND LIMITED – ASX AIZ, DEUTSCHE LUFTHANSA AG, SOUTHWEST AIRLINES COMPANY, ALASKA AIRLINES, RYANAIR HOLDINGS PLC, WESTJET AIRLINES, ETIHAD AIRWAYS

Biotech founder Itescu loses $90m in morning as US float disappoints

roymorgansocial Leave a comment

Original article by Tim Binsted
The Australian Financial Review – Page: 19 : 17-Nov-15

Mesoblast expects to raise $US63.8 million ($A95.8 million) by issuing American Depositary Shares (ADSs) in the US. The Australian-listed stem cell therapy group is offering ADSs at $US8 a unit, which implies that Mesoblast has a valuation of $A2.20 a share on the Australian stock exchange. Mesoblast shares declined 38.4 per cent to $A2.10 on 16 November 2015.

CORPORATES
MESOBLAST LIMITED – ASX MSB, NASDAQ, STARPHARMA HOLDINGS LIMITED – ASX SPL

BHP under pressure over Brazil disaster

roymorgansocial Leave a comment

Original article by Sally Rose, Steve Yolen
The Australian Financial Review – Page: 13 & 18 : 16-Nov-15

BHP Billiton’s Australian-listed shares fell by 10.8 per cent in the week ended 13 November 2015, extending the stock’s losses since 1 July to around 25 per cent. The latest sell-off was prompted by the tailings dam disaster at the Samarco iron ore project in Brazil. Principles for Responsible Investment MD Fiona Reynolds argues that Samarco joint venture partners BHP and Vale should respond to the disaster by linking their executive remuneration to the safety records of their mining operations.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, VALE SA, SAMARCO MINERACAO SA, PRINCIPLES FOR RESPONSIBLE INVESTMENT, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, AUSTRALIANSUPER PTY LTD, STANDARD AND POOR’S ASX 200 INDEX

BHP falls erase China boom gains

roymorgansocial Leave a comment

Original article by Amanda Saunders, Matthew Stevens, Neil Chenoweth, John Kehoe
The Australian Financial Review – Page: 1 & 12 : 13-Nov-15

Shares in BHP Billiton shed 1.6 per cent to close at $A20.60 on 12 November 2015, which is the stock’s lowest level in almost 10 years. The recent rout means BHP stock is trading at around the same level it was at prior to the start of the China-driven commodities boom. Meanwhile, the Queensland Government has demanded unpaid royalties of $A288m arising from the use of Singapore as a marketing hub, while BHP also faces massive costs associated with the tailings dam disaster at its joint venture Samarco iron ore project in Brazil.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, SAMARCO MINERACAO SA, VALE SA, SOUTH32 LIMITED – ASX S32, SUPREME COURT OF QUEENSLAND, BM ALLIANCE COAL OPERATIONS PTY LTD, MITSUBISHI CORPORATION, BHP BILLITON MARKETING AG, RIO TINTO LIMITED – ASX RIO, DEUTSCHE BANK AG, PENGANA CAPITAL LIMITED

Rate cut nerves push ASX lower for sixth day

roymorgansocial Leave a comment

Original article by Stephen Cauchi
The Australian Financial Review – Page: 32 : 3-Nov-15

The S&P/ASX 200 index declined 1.4 per cent to 5,165.8 on 2 November 2015. It was the sixth straight day of losses for the index. The banks were particularly weak, with National Australia Bank losing 1.7 per cent to $A29.62, the Commonwealth Bank declining 2.1 per cent to $A75.10 and ANZ shedding 2.3 per cent to $A26.85.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE BANK LIMITED – ASX MBL, RIO TINTO LIMITED – ASX RIO, TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, SANTOS LIMITED – ASX STO, BHP BILLITON LIMITED – ASX BHP, QUADRANT ENERGY PTY LTD

Westpac shares climb after capital raising, rate increase

roymorgansocial Leave a comment

Original article by Clancy Yeates
The Australian Financial Review – Page: 1 & 10 : 20-Oct-15

Shares in Westpac closed three per cent higher at $A31.34 on 19 October 2015, after being in a trading halt for almost a week. Clime Investment Management’s John Abernethy suggests that short selling in the wake of a $A3.5bn capital raising may have been the main driver of Westpac’s share price rise, rather than its move to lift mortgage interest rates by 0.2 per cent. Morningstar’s David Ellis says rival banks are likely to increase their own home loan rates.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, CLIME INVESTMENT MANAGEMENT LIMITED – ASX CIW, MORNINGSTAR PTY LTD, WATERMARK FUNDS MANAGEMENT PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, RESERVE BANK OF AUSTRALIA, ALPHINITY INVESTMENT MANAGEMENT PTY LTD

Gold stocks take off after gloomy report on US jobs

roymorgansocial Leave a comment

Original article by Stephen Cauchi
The Australian Financial Review – Page: 31 : 6-Oct-15

Data showing that a lower-than-expected 142,000 jobs were created in the US during September 2015 has prompted a rally in the spot price of gold. It rose by 2.2 per cent to $US1,136 per ounce on 2 October, and in turn bolstered support for Australian-listed gold producers. Northern Star Resources rose by 5.9 per cent to a record $A2.85 on 5 October, while Newcrest Mining was 9.5 per cent higher at $A13.80. The jobs data has dampened expectations of a US interest rate rise in the near-term.

CORPORATES
NORTHERN STAR RESOURCES LIMITED – ASX NST, NEWCREST MINING LIMITED – ASX NCM, EVOLUTION MINING LIMITED – ASX EVN, BEADELL RESOURCES LIMITED – ASX BDR, UNITED STATES. FEDERAL RESERVE BOARD, RBC CAPITAL MARKETS, IG MARKETS LIMITED, STANDARD AND POOR’S ASX ALL ORDINARIES GOLD INDEX, BANK OF JAPAN, EUROPEAN CENTRAL BANK, SUMITOMO GLOBAL RESEARCH