SHARE PRICES – AUSTRALIA

Trading frenzy over pot stock

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Original article by Patrick Durkin
The Australian Financial Review – Page: 3 : 23-Jan-15

Shares in PhytoTech Medical closed at $A0.42 on 22 January 2015, after being issued at $A0.20 apiece in a $A5.9m IPO. Some 13 million shares in the group changed hands. PhytoTech will specialise in growing marijuana for medical use and the supply of medical devices for administering legal cannabis. Adam Blumenthal notes that the global medical cannabis industry is worth $A100bn at present

CORPORATES
PHYTOTECH MEDICAL LIMITED – ASX PYL, BBY LIMITED, GW PHARMACEUTICALS PLC, LONDON STOCK EXCHANGE, ASX LIMITED – ASX ASX, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

CBA, CSL and Macquarie Group on track for $100 shares

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Original article by Simon Evans
The Australian Financial Review – Page: 22 : 22-Jan-15

Shares in CSL and the Commonwealth Bank are currently trading at about $A84. While they have recently retreated from 12-months peaks, both stocks could potentially rise to $A100. CSL previously undertook a share split after its stock rose to $A100 in late 2007. Arnhem Investment Management’s George Clapham suggests that in many cases a demerger rather than a share split may generate more value for shareholders. Macquarie Group’s shares are currently trading above $A60, and the stock is also a potential candidate to breach $A100

CORPORATES
CSL LIMITED – ASX CSL, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE GROUP LIMITED – ASX MQG, ARNHEM INVESTMENT MANAGEMENT PTY LTD, AMCOR LIMITED – ASX AMC, ORORA LIMITED – ASX ORA, BRAMBLES LIMITED – ASX BXB, RECALL HOLDINGS LIMITED – ASX REC, IRON MOUNTAIN INCORPORATED, ELDERS LIMITED – ASX ELD, BERKSHIRE HATHAWAY INCORPORATED

Alcoa’s turnaround a shot in the arm for Alumina

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Original article by Sarah-Jane Tasker
The Australian – Page: 18 : 14-Jan-15

The stock of Alumina on 13 January 2015 closed 4.2% higher at $A1.96. The reason was the release in the US by partner Alcoa of its profit data for calendar 2014. It recorded a fourth-quarter net earnings result of $US159m ($A194m) and a full-year one of $US268m, which were recoveries from the previous year’s losses of $US268m and $US2.3bn respectively. Alcoa manages and holds 60% of the Alcoa World Alumina & Chemicals business, and Alumina’s sole asset is a stake of 40% in that enterprise

CORPORATES
ALUMINA LIMITED – ASX AWC, ALCOA INCORPORATED – ASX AAI, ALCOA WORLDWIDE ALUMINA AND CHEMICALS, CITIGROUP PTY LTD

Rich Listers lose billions as sharemarket slides

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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

Scale of Qantas turnaround catches Joyce by surprise

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Original article by Steve Creedy
The Australian – Page: 20 : 10-Dec-14

Alan Joyce, CEO of Qantas Airways, admits that he and his management team had not expected their cost-cutting strategy to bear fruit so rapidly. He has been able to forecast a 2014-15 interim underlying profit pre-tax of up to $A350m, after the previous loss. The carrier’s stock on 9 December closed $A0.01 lower at $A2.38, but had gained nearly 14% the day before when the news was released. Meanwhile independent senator Nick Xenophon wants the Australian Competition & Consumer Commission to look into whether Qantas’s refusal to lower its fuel surcharge despite a falling crude oil price constitutes misleading and deceptive conduct

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, BOEING COMPANY, CITIGROUP PTY LTD, AIRBUS SAS, NICK XENOPHON GROUP

Nation needs strong banks, Murray says

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Original article by Michael Bennet
The Australian – Page: 22 : 9-Dec-14

Among the recommendations made in the financial system review report by David Murray for the Australian Government is lifting the capital requirements for the main banks. Murray says the sector needs to be strong enough to withstand another financial crisis, and at the same time cannot rely on being saved by the Government. Estimates of the additional funds likely to be needed if the measures are adopted range from $A8bn to $A32bn. Investors on 8 December 2014 were unconcerned, with the share prices of the four major banks all rising

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, BANK OF QUEENSLAND LIMITED – ASX BOQ, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, DEUTSCHE BANK AG, MERRILL LYNCH (AUSTRALIA) PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, ARGO INVESTMENTS LIMITED – ASX ARG, MACQUARIE BANK LIMITED – ASX MBL, UBS HOLDINGS PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN BANKERS’ ASSOCIATION

Foxtel puts ACCC in picture on Ten

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Original article by Darren Davidson
The Australian – Page: 19 : 5-Dec-14

The stock of Ten Network on 4 December 2014 closed $A0.025 lower at $A0.20, as investors assessed the modest offers made by takeover suitors. Pay TV group Foxtel has formed an alliance with US-based Discovery Communications to launch a bid worth $A590m for the free-to-air TV business, and a briefing on the proposal has been given to the Australian Competition & Consumer Commission by Foxtel’s legal counsel. Meanwhile Foxtel CEO Richard Freudenstein says a recent discounting campaign has brought a marked increase in new subscriber growth

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, DISCOVERY COMMUNICATIONS INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FOX SPORTS AUSTRALIA PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, V8 SUPERCARS AUSTRALIA PTY LTD, CONSOLIDATED MEDIA HOLDINGS LIMITED, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, CITIGROUP PTY LTD, SABAN CAPITAL GROUP INCORPORATED, ANCHORAGE CAPITAL PARTNERS PTY LTD, DEUTSCHE BANK AG

Woolies defies critics with profit guidance

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Original article by Andrew Fraser
The Australian – Page: 21 : 28-Nov-14

The stock of retailing sector group Woolworths on 27 November 2014 closed 2.16% higher at $A31.75, following comments made by chair Ralph Waters at its AGM. He told investors that the company was maintaining its forecast of 2014-15 net profit growth between 4% and 7%. CEO Grant O’Brien also noted the improving performance of the Dan Murphy’s liquor stores chain, Masters hardware joint venture and New Zealand supermarkets division. Waters sought to discount the competitive threat potentially posed by rival Aldi

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, DAN MURPHY’S, ALDI STORES SUPERMARKETS PTY LTD, COSTCO WHOLESALE CORPORATION, TESCO PLC, J SAINSBURY PLC, STANDARD AND POOR’S ASX 200 INDEX

The price was right, says Cormann

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Original article by Jacob Greber
The Australian Financial Review – Page: 4 : 27-Nov-14

Shares in Medibank Private closed 2.1 per cent lower at $A2.10 on 26 November 2014, after peaking at $A2.23 on debut in the previous trading session. Federal Finance Minister Mathias Cormann believes that the pricing of the IPO was appropriate, and has benefited both taxpayers and investors who bought shares in the float. The Australian Government is widely tipped to pursue further asset sales

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. DEFENCE HOUSING AUSTRALIA

A lot of fizz but no pop for Medibank IPO

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Original article by Jessica Gardner, Joyce Moullakis, Vesna Poljak
The Australian Financial Review – Page: 1 & 6 : 26-Nov-14

Medibank Private’s stock closed at $A2.14 on 25 November 2014, after peaking at $A2.23 on its first day of trading. Retail investors paid $A2 per share in the $A5.7bn IPO, while institutional investors paid $A2.15. Finance Minister Mathias Cormann said the stock was priced appropriately, but Glenn Rosewall of BBY says Medibank shares were priced higher than some market watchers had anticipated. The Federal Government is considering the privatisation of more public assets

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, AUSTRALIA. DEPT OF FINANCE, BBY LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIA. DEFENCE HOUSING AUSTRALIA, AUSTRALIA POST, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, ASX LIMITED – ASX ASX, CSL LIMITED – ASX CSL, JAPARA HEALTHCARE LIMITED – ASX JHC, NIB HOLDINGS LIMITED – ASX NHF, ALIBABA GROUP HOLDING LIMITED, NATIONAL COMMERCIAL BANK, AHM HEALTH INSURANCE, MACQUARIE CAPITAL PTY LTD, DEUTSCHE BANK AG, MARTIN CURRIE INVESTMENT MANAGEMENT LIMITED