STOCK PRICE INDEXES – AUSTRALIA

Sharemarket’s worst July for six years cements investor gloom

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Original article by Philip Baker
The Australian Financial Review – Page: 35 : 1-Aug-17

Australia’s benchmark S&P/ASX 200 Index defied the medium-term trend to lose ground in July 2017. Since 2000, the index has gained an average of 1.3 per cent in July, but its underperformance over the last month means it has finished in the red for the last three months. The S&P/ASX 200 met with resistance at the 5,700-point level in July, and indeed in the last several months. The Australian market remains about 16 per cent below its peak prior to the global financial crisis, while key US share price indices are at record highs.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, DOW JONES INDUSTRIAL AVERAGE INDEX, STANDARD AND POOR’S 500 INDEX, NASDAQ COMPOSITE INDEX, STANDARD AND POOR’S ASX 200 ACCUMULATION INDEX, BELL POTTER SECURITIES LIMITED, BHP BILLITON LIMITED – ASX BHP, CSL LIMITED – ASX CSL, TELSTRA CORPORATION LIMITED – ASX TLS, ARISTOCRAT LEISURE LIMITED – ASX ALL, AMCOR LIMITED – ASX AMC, MACQUARIE GROUP LIMITED – ASX MQG, UNITED STATES. FEDERAL RESERVE BOARD, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Overreaction presents chance to buy on dip

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Original article by David Rogers
The Australian – Page: 27 : 13-Jul-17

Australia’s benchmark S&P/ASX 200 Index reached an intra-day low of 5,665.6 points on 12 July 2017, before closing one per cent lower. The domestic bourse has shed 0.8 per cent so far in July, which may be a timely opportunity for investors to buy into the market. Meanwhile, although investors remain concerned about the political risk associated with US President Donald Trump, Citigroup believes that impeachment is unlikely despite the revelations concerning a meeting between Trump’s son and a Russian lawyer.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, CITIGROUP PTY LTD, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, REPUBLICAN PARTY (UNITED STATES)

Will the RBA join the global rates party?

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Original article by Timothy Moore
The Australian Financial Review – Page: 20 : 3-Jul-17

Futures pricing suggest that the Australian sharemarket will be bolstered by a positive lead from Wall Street when trading resumes on 3 July. The Reserve Bank’s monetary policy meeting will be a key focus for investors in coming days, although the cash rate is expected to be left on hold in July. Meanwhile, Australian retail sales, building approvals and trade data will be released during the next week.

CORPORATES
RESERVE BANK OF AUSTRALIA, DOW JONES INDUSTRIAL AVERAGE INDEX, UNITED STATIONERS, EUROPEAN CENTRAL BANK, NIKE INCORPORATED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, CAPITAL ECONOMICS LIMITED

Domestic woes to weigh on stocks

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Original article by Myriam Robin
The Australian Financial Review – Page: 24 : 30-Jun-17

Australia’s S&P/ ASX200 index has gained 10.8 per cent in 2016-17, with resources stocks generally performing well while defensive stocks have disappointed. JP Morgan Asset Management’s Kerry Craig notes that some stocks have failed to match their first-half performance in the second half of the financial year. He adds that sector-specific issues and the Australian economy are likely to weigh on the sharemarket in 2017-18.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, JP MORGAN ASSET MANAGEMENT INCORPORATED, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, TELSTRA CORPORATION LIMITED – ASX TLS, WESTFIELD CORPORATION – ASX WFD, WHITEHAVEN COAL LIMITED – ASX WHC, THE A2 MILK COMPANY LIMITED – ASX A2M, BLUESCOPE STEEL LIMITED – ASX BSL, QANTAS AIRWAYS LIMITED – ASX QAN, BELLAMY’S AUSTRALIA LIMITED – ASX BAL, DEUTSCHE BANK AG

Investors wary of copycat state bank levies

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Original article by David Rogers
The Australian – Page: 31 : 23-Jun-17

Shares in Australian banks rose on 22 June, although they failed to retain early gains after the South Australian Government moved to impose a levy on banks’ state liabilities. Bank stocks are likely to be sold down in the near-term amid concern that other states could seek to balance their budgets via a levy on the sector. However, the benchmark S&P/ASX 200 has shed just 3.7 per cent during May and June 2017 – well below the five-year average loss of 4.4 per cent – and the local bourse traditionally performs well in July.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, MSCI INCORPORATED, MSCI ASIA-PACIFIC EX-JAPAN INDEX, CREDIT SUISSE (AUSTRALIA) LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, CITIGROUP PTY LTD, AMAZON.COM INCORPORATED

Market jitters set off $27bn plunge

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Original article by David Rogers
The Australian – Page: 1 : 22-Jun-17

The Australian sharemarket shed 1.6 per cent on 21 June, extending its losses since early May to nearly five per cent. The S&P/ASX 200 typically falls in May and June, in the lead-up to the end of the financial year, and it has shed 4.4 per cent over the last two months. A move to add China’s A shares to the MSCI Emerging Markets Index weighed on sharemarkets across the Asia-Pacific region, although China’s CSI 300 Index rose 1.2 per cent.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, CSI 300 INDEX, MSCI EMERGING MARKETS INDEX, BELL POTTER SECURITIES LIMITED, QBE INSURANCE GROUP LIMITED – ASX QBE, MACQUARIE GROUP LIMITED – ASX MQG, AMAZON.COM INCORPORATED, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Slowdown is not a meltdown

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Original article by Jens Meyer
The Australian Financial Review – Page: 20 : 5-Jun-17

The Australian sharemarket fell 2.7 per cent during May 2017, compared with a 1.4 per cent gain for the S&P 500. The upcoming release of GDP data will be the next test for the market, with expectations that the economy expanded by 0.3 per cent during the March quarter and 1.6 per cent year-on-year. Weak consumer spending and doubts regarding the outlook for the housing market are key concerns for investors at present, although David Cassidy of UBS says fears about a housing market collapse are not warranted.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S 500 INDEX, UBS HOLDINGS PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, MORGAN STANLEY AUSTRALIA LIMITED, NIKKEI 225 INDEX, AMAZON.COM INCORPORATED, MERRILL LYNCH (AUSTRALIA) PTY LTD, CITIGROUP PTY LTD, RESERVE BANK OF AUSTRALIA

Bourse in $57bn wipe-out for May

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Original article by Chris Kohler
The Australian – Page: 28 : 1-Jun-17

The Australian sharemarket posted modest gains on 31 May 2017, with the S&P/ASX 200 adding 0.2 per cent to close at 5,724.6 points. National Australia Bank advanced 1.3 per cent to $A30.12 and Wesfarmers was up 1.1 per cent at $A42.70. However, Rio Tinto fell 0.7 per cent to $A62.81 and New Hope Corporation was down 11 per cent at $A1.62. The S&P/ASX 200 shed 3.4 per cent in May, and analysts note that the local market tends to underperform in June.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESFARMERS LIMITED – ASX WES, RIO TINTO LIMITED – ASX RIO, NEW HOPE CORPORATION LIMITED – ASX NHC, BHP BILLITON LIMITED – ASX BHP, NEW HOPE CORPORATION LIMITED – ASX NHC, WOODSIDE PETROLEUM LIMITED – ASX WPL, SANTOS LIMITED – ASX STO, OIL SEARCH LIMITED – ASX OSH, ORIGIN ENERGY LIMITED – ASX ORG, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, MACQUARIE GROUP LIMITED – ASX MQG, WOOLWORTHS LIMITED – ASX WOW, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, ARISTOCRAT LEISURE LIMITED – ASX ALL, AUTOMOTIVE HOLDINGS GROUP LIMITED – ASX AHG, SIRTEX MEDICAL LIMITED – ASX SRX, MYER HOLDINGS LIMITED – ASX MYR, SIGMA HEALTHCARE LIMITED – ASX SIG, QANTAS AIRWAYS LIMITED – ASX QAN, FAIRFAX MEDIA LIMITED – ASX FXJ, IG MARKETS LIMITED, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Numbers look good, so where’s the euphoria?

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Original article by David Rogers
The Australian – Page: 28 : 31-May-17

Australian bank and resources stocks rallied on 30 May 2017, allowing the benchmark S&P/ASX 200 to finish in the black after reaching a three-month low early in the session. Meanwhile, Citigroup notes that investor sentiment is not sufficiently high that a market retreat is likely, despite key US indices being at or near record highs. However, the S&P/ASX 200 and the S&P 500 have tended to underperform in the month of June, shedding an average of 2.2 per cent and 1.5 per cent respectively over the last 10 years.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S 500 INDEX, CITIGROUP GLOBAL MARKETS INCORPORATED, DOW JONES INDUSTRIAL AVERAGE INDEX, NASDAQ COMPOSITE INDEX, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Sell in May: shares stay true to script

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Original article by David Rogers
The Australian – Page: 17 & 28 : 30-May-17

The S&P/ASX 200 has underperformed in the last month, reducing its gain so far in the 2016-17 financial year from 13.8 per cent to just 9.1 per cent. May 2017 is shaping up to be the worst month for the local bourse since January 2016, and the benchmark index is now well off the 6,000-point level that seemed within reach early in the month. Meanwhile, the uncertain economic outlook may weigh on investors in the near-term, with upcoming data expected to show GDP growth stalled in the March quarter.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT, PERPETUAL INVESTMENTS, RESERVE BANK OF AUSTRALIA, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT