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Morning sports fans,
As we finish the weekend talk fest known as G20 ,it looks like we are on the verge of signing a far reaching FTA with China.This would certainly be a positive although I remember all the fanfare of the US FTA and gotta say it doesn’t seem to have delivered that much really..still Apple TV products and Apple Store costs more here than in the US and we get ripped off on many other things that you can download like Adobe etc..So the jury will be out of the FTA for some time to come.
Not much to go on from Overseas, Oil bounced off its lows…gold had a good time so maybe we will see some big bounces in the miners but Iron Ore fell yet again..last week the market fell around 100 points so would expect to see some fresh eyes today looking for some bargains so maybe we will grind higher..Uncle Glenn speaking tonight I think and RBA minutes released this week..but rates are on hold for a long time to come…
This is a bit briefer this morning as my Outlook is stuffed..some say it always is…but IT are working slowly to fix it ..so I have to come in the back door as they say!!
Idea of the Day
With oil now below $80 its probably still not too late to look at who will win from lower transport and energy costs….obviously airlines which is why QAN has been rallying but logistic companies like BXB, QUB, TOL will be winners.So will WOW and WES as the costs to get stuff to their supermarkets will fall as will the Dick Smiths,JBH etc….also we should see maybe even MCS pick up..stranger things have happened…I will be adding more info and stocks to the list of winners but anything that uses energy will b e better off..other winners will be US dollar earners over the next year as the Greenback rises together with US interet rates..
Things to make me go mmmmm!!!
The big insto Medibank schmoozle starts this week when we get an idea of how much real demand is out there rather than the broker inflated numbers..
Agribusiness Elders has returned to profitability thanks to cost cutting and higher earnings from its live export business.Elders made a full year profit of $2.98 million for the year to September 30, which compares to a $505 million loss the previous year.Underlying profit was $8.8 million, which is up from a $68.5 million loss a year ago.
Today we see the start of the much anticipated launch of the HK and China exchange tie up ..so we may see a good Asian session as volumes pick up..
Italy has suffered its third recession since the GFC…France and Germany just scrapped through and Greece even exited recession!!Zombieland still looks stuffed though and a long way to go…structrural reforms are TOO hard for government and they are leaving all the heavy lifting to Dr ‘Do Nothing’ Draghi…not sure that is a great option…my big question is whether the strength in the US will drag everyone else up …or will the weakness everywhere else drag the US down..
RasPutin is well and truly on the nose as he leaves early to go and play with his Navy…good to see too that the Ukrainian PM is severing ties to the new pro Russian States..all support for these regions will be at an end in a month..so effectively they are on their own!!!…the central bank will no longer service bank accounts,prisoners will have to be transferred ,schools and hospitals will no longer to heated if they don’t pay the bill and a bank run is already starting..looks like teh Pro Russian Regions have a busy month in store to shore up all the infrastructure and the payments system!!
China’s bad loans jumped by the most since 2005 in the third quarter.Nonperforming loans rose 72.5 billion yuan ($11.8 billion) from the previous quarter to 766.9 billion yuan, the China Banking Regulatory Commission said in a statement on Nov. 15. Soured credit accounted for 1.16 percent of lending, up from 1.08 percent three months earlier.
Actavis Plc (ACT) is close to a deal to buy Allergan Inc. for more than $62.5 billion, a transaction that would help the maker of Botox rebuff a hostile advance from Valeant Pharmaceuticals .
Seems every house in our street is either sold or up for sale!!
Caught the Rolling Stones in the Hunter on Saturday…still the best rock and roll band in the entire Galaxy!!!
Also caught my sons band playing Market Day..god they were good..look out for these guys in a few years…he’s the drummer!
The Dolphin Show!!
And finally…a South African joke…yeah I know…
In a church in Umlazi one Sunday morning a preacher said, “Anyone with ‘special needs’ who wants to be prayed over, please come forward to the front of the altar.”
With that, Sipho got in line and when it was his turn the Preacher asked, “Sipho, what do you want me to pray about for you?”
He replied, “Preacher, I need you to pray for help with my hearing.”
The preacher put one finger of one hand on Sipho’s ear, placed his other hand on top of Sipho’s head, and then prayed and prayed and the whole congregation joined in with much enthusiasm.
After a few minutes, the preacher removed his hands, stood back and asked,”Sipho, how is your hearing now?”
Sipho answered, “I don’t know. My hearing is on next Thursday.”
Have a good Monday