Morning all,

Well ,yesterday we hit the magic 4400 on the ASX 200..top of the range…couldn’t hold it as the Dow backed off from it’s four year high too..so now what? Today we get a whole bunch of numbers from BHP,SUN,WPL,PBG and many more..so far SUN has reported a special dividend which will give punters a warm and fuzzy feeling all over but appears to have missed some forecasts which is not so good…..PBG have had another shocker and the CEO is gone..probably taking a huge amount of money with her and blaming the high Aussie dollar on her woes..

 

The shorts have been punished this season with MND handing them another whooping yesterday as the death of the mining boom have been greatly exaggerated ..however as one commentator pointed out maybe the outlook is not quite as rosy as the company would have us believe and once the shorts have covered then they will settle down..WPL just reported too..looks  ok dividend up as well….3.7% yield for a growth stock..not too shabby!!

 

In other reports today: Trade Me results better than forecast, Seven West profit soars after WAN takeover.. Asciano’s full year profit is up by 19 per cent despite the impact of industrial action on its business.

Asciano made a net profit of $240.8 million in the year to June 30, up from $201.6 million in the previous corresponding year.

 

Morningstar research has strong holds on most things so bit wishy washy I am afraid..I tend to agree and feel that we need to consolidate for a time after the 8% run since the June..The Dow has probably the same to do as well…

 

 

BHP is the big one and will report after hours BHP result out after market today and from one broker, they  are going for US$16.74b v consensus US$16.87b (range US$16.4-17.7b).

  • EBIT US$26.5b v consensus of US$26.9b
  • EBITDA US$32.95b v consensus of US$33.2b.
  • Final dividend around US60¢ for a FY12 total of 115c (consensus ~112c).

 

The market is at the top of its range and as I said yesterday we really need the big resource stocks to kick in to push higher..BHP may be the catalyst…Copper is helping and no news from ‘Zombieland’ also helps!!

 

 

 

Things to make me go all BHP!

 

1.Gold rallied last night to 1642..Copper also kicked helping BHP and Rio in London whilst Iron Ore continues to languish around $107 a tonne.

2.Dell reports after hours and is down 5% as numbers and outlook disappoints. Apple eases back from all time high whilst faceplant crumbles again as more stock comes on to the market.

3. CSL, the world’s No.2 blood products maker, posted a 13.5 percent rise in second-half profit and said its board was considering a further on-market share buyback of up to $900 million.

4.China pushes more money into Banking system as Spanish rates ease. Juncker heads to Athens to discuss Greek bailout terms..remember he was the one who famously said  “when it gets really bad, lie!”

5.Iron Ore pricing with three month already below $100…Not good for FMG I am afraid!

Correlation with facebook perhaps!!!

Iron Ore price slipping

Iron Ore Price……three month below 100…

7.Been for a look see for our new office today with the firm merging with BBY…loads of space and very flash so should be good..

8.Murdoch household would have been an interesting place last night..sorry Sarah..loved your work..maybe I was the only one!”I will survive”may not!!!TEN is lost in the TV wilderness…more Simpsons perhaps!

9.The Battle for Hastings is finally over…APA wins the day..

10. The U.K. government borrowed more than expected in July as spending increased on unemployment and other benefits, official figures showed.And from the UK Polly Pecks chief Asil Nadir faces prison..hands up who can remember this bad boy!!Me!!!

 

And finally…. I swear, the other day I bought a packet of peanuts, and on the packet it said ”may contain nuts.” Well, YES! That’s what I bought the buggers for! You’d be annoyed if you opened it and a socket set fell out!”

 

Back on Sky TV this afternoon..

Clarence

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