Bourse in $57bn wipe-out for May

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?

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

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

Bumps in the road: no straightforward path to 6000

Original article by David Rogers
The Australian – Page: 31 : 5-May-17

The S&P/ASX 200 Index retreated below the 5,900-point level on 4 May 2017, after closing within sight of 6,000 points earlier in the week. The consensus of market analysts is that it will rise to around 6,000 in the next year, while Bloomberg’s consensus target has been increased to 6,026.8 points. However, the local sharemarket faces a number of headwinds, including the prospect of interest rate rises in both Australia and the US at some point, while Tim Baker of Deutsche Bank anticipates an eventual correction of five per cent of more.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, BLOOMBERG LP, DEUTSCHE BANK AG, CITIGROUP PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, FORTESCUE METALS GROUP LIMITED – ASX FMG, UNITED STATES. FEDERAL RESERVE BOARD, RESERVE BANK OF AUSTRALIA, UBS HOLDINGS PTY LTD, GENWORTH MORTGAGE INSURANCE AUSTRALIA LIMITED – ASX GMA, CHICAGO BOARD OPTIONS EXCHANGE VOLATILITY INDEX, PACT GROUP HOLDINGS LIMITED – ASX PGH, COCA-COLA AMATIL LIMITED – ASX CCL, VOCUS GROUP LIMITED – ASX VOC, THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR, AGL ENERGY LIMITED – ASX AGL, APA GROUP – ASX APA, SUNCORP GROUP LIMITED – ASX SUN, WOOLWORTHS LIMITED – ASX WOW, CREDIT SUISSE (AUSTRALIA) LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, ECLIPX GROUP LIMITED – ASX ECX, LEND LEASE GROUP LIMITED – ASX LLC, GRAINCORP LIMITED – ASX GNC

External factors align for a ‘buying opportunity’

Original article by David Rogers
The Australian – Page: 25 : 19-Apr-17

Australia’s benchmark S&P/ASX 200 Index remained above the technically important 5,830- point level on 18 April 2017, despite a further downturn in the iron ore price. However, the local sharemarket has fallen by just 2.2 per cent since its recent peak of 5,950.1, and it could still test the 6,000-point level for the first time since 2008. Meanwhile, Morgan Stanley remains bearish about the outlook for the local market, and the firm still expects the S&P/ASX 200 to fall to 5,450 by the end of the year.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, MORGAN STANLEY AUSTRALIA LIMITED, STANDARD AND POOR’S 500 INDEX, CITIGROUP PTY LTD, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Wall Street could stop ASX bull run

Original article by Philip Baker
The Australian Financial Review – Page: 31 : 11-Apr-17

The S&P/ASX 200’s rise above the 5,900-point level has prompted renewed speculation that it could test 6,000 points. However, the near-term outlook for the benchmark index will depend on the US earnings season, and data from Bloomberg shows that the number of companies that have provided earnings guidance in the last month has fallen to the lowest level since 1999. Meanwhile, borrowings costs may rise as offshore investors bail out of US treasuries and the Federal Reserve prepares to divest $US2.46trn worth of treasuries.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, BLOOMBERG LP, UNITED STATES. FEDERAL RESERVE BOARD, DOW JONES INDUSTRIAL AVERAGE INDEX, STANDARD AND POOR’S 500 INDEX, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, THOMSON REUTERS PLC, PERPETUAL LIMITED – ASX PPT

Earnings season shows bourse’s pillars are solid

Original article by David Rogers
The Australian – Page: 31 : 16-Feb-17

Australia’s benchmark S&P/ASX 200 closed above 5,800 points on 15 February 2017, bolstered by strong earnings results by a number of blue-chip stocks. The local bourse is now underperforming the US market by less than two per cent, recovering from a disappointing performance in January. The S&P/ASX 200 could test the 6,000-point level if the reporting season continues to deliver good results, and Richard Copple­son of Bell Potter still expects it to reach 6,300 points by the end of 2017.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, BELL POTTER SECURITIES LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CSL LIMITED – ASX CSL, WESFARMERS LIMITED – ASX WES, BORAL LIMITED – ASX BLD, COMPUTERSHARE LIMITED – ASX CPU, TRANSURBAN GROUP LIMITED – ASX TCL, AMP LIMITED – ASX AMP, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, SUNCORP GROUP LIMITED – ASX SUN, RIO TINTO LIMITED – ASX RIO, MACQUARIE GROUP LIMITED – ASX MQG, CIMIC GROUP LIMITED – ASX CIM, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, PRIMARY HEALTH CARE LIMITED – ASX PRY, SEVEN WEST MEDIA LIMITED – ASX SWM, BRAMBLES LIMITED – ASX BXB, COLES SUPERMARKETS AUSTRALIA PTY LTD, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, CREDIT SUISSE (AUSTRALIA) LIMITED, CITIGROUP PTY LTD, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD

US concerns spark global retreat

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

The Australian sharemarket retreated on 31 January 2017, with the S&P/ASX 200 shedding 0.7 per cent to close at 5,620. BHP Billiton was 2.63 per cent lower at $A26.64, Westpac eased 0.94 per cent to finish at $A31.71 and Virtus Health was down 17.7 per cent at $A5.11. However, Fortescue Metals Group advanced 2.8 per cent to end the session at $A6.66.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX, BHP BILLITON LIMITED – ASX BHP, WESTPAC BANKING CORPORATION – ASX WBC, VIRTUS HEALTH LIMITED – ASX VRT, FORTESCUE METALS GROUP LIMITED – ASX FMG, RIO TINTO LIMITED – ASX RIO, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NAVITAS LIMITED – ASX NVT, BEACH ENERGY LIMITED – ASX BPT, ORIGIN ENERGY LIMITED – ASX ORG, ILUKA RESOURCES LIMITED – ASX ILU, CMC MARKETS PTY LTD, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

ASX hits 19-month high on China news

Original article by Jens Meyer, Patrick Commins
The Australian Financial Review – Page: 26 : 4-Jan-17

The S&P/ASX 200 index closed 1.2 per cent higher at 5,733.2 points on 3 January 2017. Investors were encouraged by a one point rise in China’s Caixin manufacturing PMI, to 51.9 points in December 2016. All sectors benefited from positive investor sentiment. Trading volumes were low as many professional traders are still on holiday.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, SHANGHAI RURAL COMMERCIAL BANK, EVOLUTION MINING LIMITED – ASX EVN, BUBS AUSTRALIA, UNITED STATES. FEDERAL RESERVE BOARD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, THE A2 MILK COMPANY LIMITED – ASX A2M, BELLAMY’S AUSTRALIA LIMITED – ASX BAL, HUNTER HALL INTERNATIONAL LIMITED – ASX HHL, WASHINGTON H SOUL PATTINSON AND COMPANY LIMITED – ASX SOL, GALAXY RESOURCES LIMITED – ASX GXY, ORGANISATION OF PETROLEUM EXPORTING COUNTRIES

Blue sky for miners, banks tipped in year ahead

Original article by David Rogers
The Australian – Page: 18 : 23-Dec-16

The S&P/ASX 200 share index rose 0.5 per cent to 5,643.9 points on 22 December 2016. T Rowe Price head of Australian equities Randal Jenneke is optimistic about the stockmarket’s future performance. He expects the S&P/ASX 200 to rise as much as eight per cent by mid-2016. Mining and finance stocks are likely to perform strongly while "defensive yield" stocks will underperform.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, T ROWE PRICE GROUP INCORPORATED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY