SHARE PRICES – AUSTRALIA

Few shares spared as index heads to correction

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Original article by Patrick Commins
The Australian Financial Review – Page: 21 : 15-Oct-14

Bearish sentiment toward equities means that just 11 stocks in Australia’s benchmark S&P/ASX 200 Index have risen in the last six weeks. These include TPG Telecom, Qube Holdings, Recall Holdings and M2 Group. Some 40 per cent of ASX 200 stocks have fallen by more than 10 per cent since early September 2014, while the index itself has shed eight per cent over this period. CIMB’s Shane Lee says the sell-off means that some stocks may now offer good value to investors

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, TPG TELECOM LIMITED – ASX TPM, QUBE HOLDINGS LIMITED – ASX QUB, RECALL HOLDINGS LIMITED – ASX REC, M2 GROUP LIMITED – ASX MTU, CIMB SECURITIES INTERNATIONAL (AUSTRALIA) PTY LTD, UNITED STATES. FEDERAL RESERVE BOARD, DOW JONES INDUSTRIAL AVERAGE INDEX, STANDARD AND POOR’S 500 INDEX, EUROPEAN CENTRAL BANK, RUSSELL INVESTMENTS PTY LTD, CSL LIMITED – ASX CSL, RESMED INCORPORATED – ASX RMD, SONIC HEALTHCARE LIMITED – ASX SHL, TOLL HOLDINGS LIMITED – ASX TOL, BRAMBLES LIMITED – ASX BXB, IINET LIMITED – ASX IIN, TELSTRA CORPORATION LIMITED – ASX TLS, WOOLWORTHS LIMITED – ASX WOW, FLIGHT CENTRE TRAVEL GROUP LIMITED – ASX FLT, JB HI-FI LIMITED – ASX JBH

RBA warns: share sell-off will be violent

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Original article by Adam Creighton
The Australian – Page: 21 : 15-Oct-14

A Citi investment conference in Sydney on 14 October 2014 heard from Guy Debelle, head of financial markets at the Reserve Bank of Australia. He argued investors were showing irrational exuberance and were ignoring risk at their own peril. Debelle said the stock market volatility of recent weeks was coming unexpectedly late given factors such as rising geopolitical tensions, and an eventual selling of fixed-interest instruments globally would be "violent". He also noted that new regulations prompted by the global financial crisis had reduced the scope for liquidity

CORPORATES
RESERVE BANK OF AUSTRALIA, CITIGROUP PTY LTD, CHICAGO BOARD OPTIONS EXCHANGE VOLATILITY INDEX, STANDARD AND POOR’S ASX 200 INDEX, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, UNITED STATES. FEDERAL RESERVE BOARD

REITs in major sell-off

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Original article by Mercedes Ruehl
The Australian Financial Review – Page: 35 : 1-Oct-14

Australia’s listed real estate investment trusts index shed more than five per cent in September 2014. However, Freehold Investment Management’s Andrew Smith notes that a pullback was likely given the sector’s strong gains in the year to date. Stocks that were hard hit include Charter Hall Group, BWP Trust, Mirvac and Scentre Group. Lend Lease and GDI Property Group are among the stocks that posted gains

CORPORATES
STANDARD AND POOR’S ASX 200 A-REIT INDEX, CHARTER HALL GROUP – ASX CHC, BWP TRUST – ASX BWP, MIRVAC GROUP – ASX MGR, SCENTRE GROUP – ASX SCG, LEND LEASE GROUP LIMITED – ASX LLC, GDI PROPERTY GROUP – ASX GDI, GROWTHPOINT PROPERTIES AUSTRALIA – ASX GOZ, WESTFIELD CORPORATION – ASX WFD, DEXUS PROPERTY GROUP – ASX DXS, INVESTA OFFICE FUND – ASX IOF, FREEHOLD INVESTMENT MANAGEMENT LIMITED, CLSA AUSTRALIA PTY LTD, STOCKLAND – ASX SGP, CREDIT SUISSE (AUSTRALIA) LIMITED, RESERVE BANK OF AUSTRALIA, GPT GROUP – ASX GPT, INGENIA COMMUNITIES GROUP – ASX INA

Lynas plunges on $83m raising

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 : 30-Sep-14

The stock of Australian-listed rare earths mining group Lynas Corporation on 29 September 2014 closed 25.22% lower at $A0.086. Investors reacted negatively to news that the company was staging a share issue designed to source $A83m in fresh capital, after posting a 2013-14 loss of $A13.1m. The issue price for the shares will be $A0.08. New institutional stockholders are set to account for $A12m, which Lynas will allocate to servicing of its current liabilities

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, SOJITZ CORPORATION, JAPAN OIL GAS AND METALS NATIONAL CORPORATION

Year’s gains lost in three weeks

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Original article by Philip Baker
The Australian Financial Review – Page: 1 & 11 : 23-Sep-14

The Australian sharemarket has shed more than five per cent so far in September 2014, paring the S&P/ASX 200’s gains in the year to date to just 0.2 per cent. In contrast, the S&P 500 has gained nearly nine per cent and the Hang Seng Index has risen by three per cent. Banks have borne the brunt of bearish investor sentiment, with all of the four major banks shedding more than the S&P/ASX 200 in September

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WILSON ASSET MANAGEMENT, STANDARD AND POOR’S 500 INDEX, HANG SENG INDEX, DOW JONES INDUSTRIAL AVERAGE INDEX, NIKKEI 225 INDEX, UNITED STATES. FEDERAL RESERVE BOARD, MORGAN STANLEY AUSTRALIA LIMITED

Arrium plunge in wake of raising

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Original article by Matt Chambers, Barry FitzGerald
The Australian – Page: 19 : 19-Sep-14

The share price of steel and iron ore miner Arrium fell on 18 September 2014 after its capital raising. The company wanted to raise $A754 million. However, only 79 per cent of institutional shareholders participated, raising $A465 million. Arrium’s stock dropped by $A0.0165 to a record low of $A0.40

CORPORATES
ARRIUM LIMITED – ASX ARI, BHP BILLITON LIMITED – ASX BHP, ALLAN GRAY AUSTRALIA PTY LTD

Steel price recovery a boost to miners

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Original article by Sarah-Jane Tasker
The Australian – Page: 20 : 17-Sep-14

The iron price gained four per cent in overnight trading on 15 September 2014, rising to $US85 per tonne. Shares in Australian-listed iron ore producers rallied in response. However, independent market strategist David Scutt notes that sharp gains in the iron ore price often occur between September and November

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, BC IRON LIMITED – ASX BCI, ATLAS IRON LIMITED – ASX AGO, MOUNT GIBSON IRON LIMITED – ASX MGX, DFP RECRUITMENT SERVICES PTY LTD

Contractors feel pain of tumbling iron ore prices

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 17 : 9-Sep-14

Falling iron ore prices have had a negative impact on engineering and mining contractors providing services to iron ore mining companies. Analysts have downgraded their ratings, and the share prices of companies such as Mineral Resources, NRW Holdings and Macmahon Holdings are likely to be under pressure. The stock of Mineral Resources fell 1.8 per cent on 8 September 2014 after it was downgraded by RBC Capital Markets from "outperform" to "sector perform"

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, NRW HOLDINGS LIMITED – ASX NWH, MACMAHON HOLDINGS LIMITED – ASX MAH, FORTESCUE METALS GROUP LIMITED – ASX FMG, WESTERN DESERT RESOURCES LIMITED – ASX WDR, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, LEIGHTON HOLDINGS LIMITED – ASX LEI, DOWNER EDI LIMITED – ASX DOW, MONADELPHOUS GROUP LIMITED – ASX MND, AUSTIN ENGINEERING LIMITED – ASX ANG, BRADKEN LIMITED – ASX BKN, EMECO HOLDINGS LIMITED – ASX EHL, RBC CAPITAL MARKETS

$9.7bn boost for BHP

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Original article by Matt Chambers
The Australian – Page: 20 : 3-Sep-14

The stock of BHP Billiton closed $A0.20 higher at $A36.90 on 2 September 2014, as analysts start to recognise the gains to be made in its Western Australian iron ore operations. The disappointment at the lack of a stock repurchasing scheme has overshadowed the fact that BHP will have its value lifted by as much as $US9bn ($A9.7bn) thanks to the Pilbara mines. Their output forecast has been raised from 225 million tonnes to 290 million annually, while the cash cost will fall from as high as $US120 a tonne to under $US50

CORPORATES
BHP BILLITON LIMITED – ASX BHP, UBS HOLDINGS PTY LTD, JP MORGAN AUSTRALIA LIMITED

S&P 500 makes history

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Original article by John Kehoe, Jonathan Shapiro
The Australian Financial Review – Page: 19 : 27-Aug-14

The S&P 500 scaled new heights on 25 August 2014, briefly rising above the 2,000-point level. The index reached the 1,000-point milestone for the first time in early February 1998. However, US financial stocks have underperformed over the last 16 years, gaining just 10 per cent overall. Shares in Citigroup, Bank of America and American International Group in particular have been savagely sold down since 1998, while the shares of Australia’s four major banks have surged

CORPORATES
STANDARD AND POOR’S 500 INDEX, CITIGROUP INCORPORATED, BANK OF AMERICA CORPORATION, AMERICAN INTERNATIONAL GROUP INCORPORATED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, PM CAPITAL LIMITED, DELTEC INTERNATIONAL GROUP, JP MORGAN AND COMPANY INCORPORATED