Wednesday 22nd November – Australian Market Wrap !

The Canberra Circus continues

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Canberra Circus

Today’s Headlines

  • ASX 200 up 23 to 5986 as miners lead rally.
  • High 5998 Low 5972 AGMs dominate.
  • Amazon set to launch tomorrow.
  • Banks weaker but healthcare better.
  • Consumer staples firm ahead of Amazon Ice Cream launch tomorrow.
  • Iron ore firms in Asia.
  • AUD bounces to 75.66c from a five-month low.
  • Bitcoin US$8175 in relative quiet trade.
  • US futures up 31.
  • Asian markets stronger with China CSI 300 up 0.37% and Japan up 0.54%. Hang Seng up 0.90%

STOCK STUFF

Movers and Shakers

  • WSA +5.13% nickel price rises.
  • OZL +3.55% metal price rallies.
  • BHP +1.36% higher oil and copper price drawing buyers.
  • CAT -0.57% AGM presentation.
  • PLS +5.32% lithium buyers return.
  • SEN +10.00% broker research.
  • IAG +1.66% rally continues. The quiet achiever.
  • FXL +4.95% broker research.
  • WEB -11.55% guidance disappoints.
  • DHG +4.39% buyers emerge.
  • CYB +6.23% positive cost cutting story and maiden dividend.
  • WTC +4.34% positive guidance at AGM
  • FPH -5.29% broker downgrades.
  • MIN +12.57% AGM presentation.
  • Speculative stock of the day: QBL +30.00% ‘momentous’ deal with hemp processor. Huge volume surge.
  • Biggest risers – MIN, SYR, A2M, CYB, VAH and PLS.
  • Biggest fallers – WEB, FPH, HUB, NAN, QUB and HSN.

TODAY

  • Webjet (WEB) –11.55% Is expecting FY18 EBITDA of $80m and TTV of $3bn. This compares to TTV of $1.95bn and EBITDA of $51m for the continuing operations reported in FY17. The company has said it expects negative cash flow in 1H FY18 due to a one-off acquisition of European travel business JacTravel.
  • Sonic Healthcare (SHL) +0.09% has reaffirmed its full-year earnings guidance. Underlying earnings will grow by 6 to 8% on a constant currency basis compared to $889m in 2016/17.

ECONOMIC NEWS

  • Commonwealth government makes its first investment in Bitcoin with a joint project with Power Ledger.
  • Ninth MP/Senator resigns. NXT Senator was British.
  • The price of milk products dipped to an eight-month low overnight.

 

ASIAN MARKETS

  • All cash offer from Nippon Paint bid scuppers Akzo Nobel-Axalta merger talks
  • Hong Kong stocks hit their highest level in a decade.

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EUROPE AND US MORNING HEADLINES

  • Meg Whitman is leaving HP after six years at the helm.
  • Tesla has been burning money at a clip of about US$8,000 a minute (or US$480,000 an hour).
  • Tesla has a market capitalisation of US$53bn. The Ford Motor Co is worth US$48 billion. The cash will run out early August 2018.
  • Former Italian PM Berlusconi is heading to court overnight to challenge his right to run for PM again. Berlusconi wants the ban for tax fraud overturned in time for a election due by late May.
  • UK Budget tonight. First non-Spring budget ever.

And finally…….

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What is a Shih Tzu?

Answer: A Zoo without animals

Clarence

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