Another solid performance from the ASX 200 as financials once again led the way in front of Commonwealth Bank of Australia (A$74.85, +1.8%) numbers due Wednesday. Good leads overnight from Wall Street ,which seems to be very confused at the moment, the bad jobs number on Friday was apparently a reason to celebrate as maybe, just maybe ,Janet won’t pull the rug too quickly on the free money.I suspect,though, that as they used to say on Mastermind,”I’ve stared so I’ll finish”. Anyway after a downhill skiing style start, we sagged a little before careering to the close at around 5222 up around 55 points. Very positive start to the week.Financials were in demand with National Australia Bank Limited (A$33.41, +1.9%) keeping up with CBA and we even saw Macquarie Group Limited (A$55.62, +1.4%) and some of the other wealth managers like Magellan Financial Group Limited (A$11.75, +1.7%),Henderson Group PLC. (A$4.14, +1.2%),Platinum Asset Management Limited (A$6.69, unch) and Bt Investment Management Limited (A$6.25, +0.5%) all gaining some friends. QBE Insurance Group Limited (A$11.00, +0.4%) although suffered today as Mike Emmett was promoted to Group Executive Officer, a new role in the group. Other insurers also fell a little with Suncorp Group Limited (A$12.08, +0.5%),Insurance Australia Group Limited (A$5.37, -0.4%) and AMP Limited (A$4.29, +1.2%) rudderless really.
Meanwhile in the resource end of town BHP Billiton Limited (A$36.50, +1.1%),RIO Tinto Limited (A$67.02, +1.6%),Newcrest Mining Limited (A$11.11, +7.1%) all did very well while Fortescue Metals Group Ltd (A$5.59, -0.2%) languished. Other gold stocks also were in the winners enclosure today with Beadell Resources Limited (A$0.79, +3.3%) the best of the big ones after Newcrest Mining Limited (A$11.11, +7.1%) but Oceanagold Corporation (A$2.30, +5.0%) did well as did Perseus Mining Limited (A$0.455, +13.8%), Evolution Mining Limited (A$0.795, +12.8%),Silver Lake Resources Limited (A$0.665, +8.1%) and St Barbara Limited (A$0.335, +8.1%).
Over in the industrial world Telstra Corporation Limited (A$5.04, +0.6%) remains a little unloved but Healthcare stocks did ok led by Csl Limited (A$69.69, +1.5%) with rises from Sonic Healthcare Limited (A$16.57, +1.3%),Cochlear Limited (A$58.89, +2.2%) and ResMed Inc. (A$4.94, +2.1%).Woolworths Limited (A$34.89, -0.2%) eased back but Wesfarmers Limited (A$42.80, +0.8%) slightly higher as were GrainCorp Limited (A$7.71, +1.4%),Coca-Cola Amatil Limited (A$11.53, +1.2%) and Goodman Fielder Limited (A$0.66, +3.1%). Other industrials were marginally better but Leighton Holdings Limited (A$16.34, +2.1%) had a good day in the sun. Retailers were slightly firmer with David Jones Limited (A$3.11, +1.6%) better after possible executive changes appear to be mulled over but JB Hi-Fi Limited (A$18.45, -3.0%) suffered from going ex div 55cents today.
Sitting in gold medal spots today on the podium were #OFX#, G8 Education Limited (A$3.50, +6.4%),Sirius Resources NL (A$2.18, +4.3%),Sfg Australia Limited (A$0.71, +1.4%),Western Areas Limited (A$2.87, +4.4%) and Csr Limited (A$3.09, +3.3%) whilst crashing out after colliding with the slalom gates were Ten Network Holdings Limited (A$0.34, -4.2%),Lynas Corporation Limited (A$0.265, -3.6%),Slater & Gordon Limited (A$4.33, -2.3%),#SDF#,Ainsworth Game Technology Limited (A$4.16, -1.9%) and Federation Centres (A$2.31, -0.9%).
Volume today around $3.6bn,which in the scheme of recent days isn’t too bad for a Monday. The Aussie dollar stayed below 90 cents but is knocking on its door. Gold also did ok continuing to build on its’ recent gains which is a positive and Copper had good gains overnight which helped our resource stocks along.
Asian markets were better with the MSCI Asia Pacific index up 0.4% as Japan put on 1.3% and China sprinted away following its New Year shutdown and was looking at a 2% gain!
Stocks and Stories
House and personal favourite G8 Education Limited (A$3.50, +6.4%) look set to post an all time high today following its announcement of an aggressive acquisition strategy with its purchase of 63 child care centres. This one is showing the opposition how it is done and would expect to see more gains to come as management beds down the centres.
Honey maker CZZ hit the sweet spot today with a doubling of half year profits as honey prices rose both here and overseas.
MCS rallied from an early bashing after the NSW Government announced that spot checks of the Cootes tankers last week, revealed major defects! This one is due for some good news!
Coffey International Limited (A$0.23, -4.2%) today announced that conditions were “tough” EBITDA was up 37% though despite revenues falling 11%.No Dividend.
Shock! Horror! Surprise! Regional Express Holdings Limited (A$0.805, -10.6%) today announced that things were pretty horrible in the airline business with a forecast fall in pre tax profits of around 60%. The Chief Pilot suggested that the entire industry is haemorrhaging cash and approaching collapse. Something for Qantas Airways Limited (A$1.09, +2.3%) shareholders’ to ponder.
Tomorrows News Today
Another January NFP payroll number disappoints. Certainly a bit of a pattern here and the complicated figures were taken as a positive. Yes we are back to the good news is bad bad news is good game again!
Good to see that Soros’ Quantum Endowment fund has claimed back its title of the World’s biggest hedge fund at $28bn .Not a bad show last year with a 22% return too.
Meanwhile in the UK Barclays bank looks to have been scammed with a Catastrophic theft of customer files. Apparently ‘Boiler Room’ con artists like Jordon Belfort have got hold of 2,000 clients details. Nasty.
Looking forward to seeing the Shapelle Corby story on Channel Seven. $3m to tell all. Do we care that much? Not sure that NEC will be too pleased especially given the ratings last night. I watched ‘Rake’ anyway. Much better! Isn’ there a proceeds of crime issue here.
Japans current account deficit continues to hit new records as imports rise.Abenomics are distorting this economy and at some stage we will see that the Emperor not only has no clothes but the he has no wallet either.The surge in imports seems to be due to the upcoming rise of sales tax in Japan when it increases from 5% to 8% in April.
New Zombieland ‘Super Regulator’ has made his first statement ,suggesting to let weak banks die. You have been warned!
And good to see PM Peta Credlin moving to stop Coalition ministers from using Facebook and Twitter. Good news indeed. Too much rubbish on there already!Someone better tell Malcolm. He may be an issue.
Clarence
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Beeks Downunder-Because not all financial news is boring! 
We are all in the wrong business. We should be investing in the Shapelle Corby business. The free publicity coupled with the story rights is enough incentive to create a generation of drug smugglers! Is this person meant to be a hero? All we need now is the government to chip in with a ticker tape parade and some fireworks and the deal will be complete. Perhaps some fully franked dividends in the near future?
I cannot believe anyone still cares about her! She could do a great double act with Amanda Knox