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Morning sports fans,
As the police say after a lorry of toilet rolls is stolen, not much to go on this morning.US jobs numbers were a little underwhelming but not enough to shock the market but I continue to question why the US is on a crisis setting economically when clearly their economy is going gangbusters and their stock market is at all-time highs…can’t be long before rates rise, can it?…normal is not where they are at the moment…still no one really wants to think about that..
Zombieland is looking interesting again as ‘Do Nothing’ Draghi continues to flail about aimlessly….meanwhile in Spain, the Catalans have defied their PM and have turned out in huge numbers to vote informally on leaving the country…this is the powerhouse of Spain so the result will be interesting..
Here we continue to look pretty resilient…much of the rally, well almost all of it, has taken place in the good old yield stocks ,the banks, TLS and the W’s…fair to say the resource stocks have missed out but then with commodity prices where they are its pretty easy to see why…so the big question is …will Santa come to town this year?..have we been naughty or nice?..My call and I have been wrong before, I am thinking LYC, is for a year close a tad higher than here..
I remain of the view that banks will experience headwinds going into Xmas as regulations and Murray report prove to be cold water being poured over their story..their top is around 187 on my bank index and here they are at 183 and that ex div!!!So pretty close to the top..I reckon upside is limited from here and we will look to the resource stocks and the industrials like CWN and others to kick higher…Gold up 3% and Iron Ore moving in the right direction a positive plus of course they are all beneficiaries of the lower dollar…
Things to make me go mmmmmm!!!
25 years since the Berlin Wall came down…and here we are in another Cold war!!
The Claytons ceasefire in Ukraine seems to be going well…
Russia, China Sign Second Mega-Gas Deal: Beijing Becomes Largest Buyer Of Russian Gas
I still find this pretty amazing but not in a good way…Uber is looking at another $1bn funding round to value the company at way more than the $17bn in the last round…the latest $1bn is to fund international expansion…I mean WTF happened to the last 41.2bn they raised?Did they go through it that quickly that they need more..
Employers added 214,000 new jobs to their payrolls last month, the Labor Department said on Friday. The unemployment rate fell from 5.9 per cent, even as more people entered the labor force, a sign of strength in the jobs market. Data for August and September were revised to show 31,000 more jobs created than previously reported.
HOWEVER… Average hourly earnings rose by only 3 cents putting the YoY earnings increase at 2% reflecting the type of jobs being created, mainly in the food services sector.
In London they have filled the moat of the Tower with 888,246 ceramic red poppies to represent the number of deaths from members of the UK and the Commonwealth in WW1…
CNN epic fail on confusing Osama and Obama…
Negotiations to press ahead with Rio Tinto’s planned $US5 billion ($5.8bn) expansion of the Oyu Tolgoi copper and goldmine in Mongolia look set to remain in limbo, with the Mongolian parliament kicking out the Prime Minister and widespread management and board changes at the project
Telstra is targeting $5 billion in savings over the next five years…that’s a lot of outsourcing!
Seems that Time Warner has approached TEN with an offer to buy them for $680m…at around 25c!!!May need to pay a bit more but it is now just a question of who buys this one and what price..looking forwad to 24 sessions of Furuama and the Simpsons plus Biggest Loser,The Batchelor and Masterchef..oh the joy!!!
Construction software firm Aconex will bring a revamped IPO back to the market this week. The listing of Aconex, whose software permits companies working on construction projects to exchange and track information, was knocked back last month. Fund managers baulked at the offer range of $2.20 to $2.60 a share, which reflected a multiple of 4 to 4.7 times forecast 2015 revenue and a valuation of around $380m..
Discovered a new TV series to devour The Honourable Woman…
Day Six…pretty hungry and bored but results are promising…
A Muslim was sitting next to Paddy on a plane.
Paddy ordered a whisky.
The stewardess asked the Muslim if he’d like a drink.
He replied in disgust “I’d rather be raped by a dozen whores than let liquor touch my lips!”
Paddy handed his drink back and said
“Me too, I didn’t know we had a choice!”
Have a great Monday