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Morning sports fans,
How does anyone cope with Sydney traffic.I had to pick up my daughter from the airport yesterday. Absolute joke. One accident on the bridge and chaos!!!And we want to build more roads..is that the answer?..I think not!!
Anyway UK market hits its all-time high, last hit in 1999…Germany hits its all-time high…Greece is sorted ..they have agreed to push the problem down the road for another 4 months…whilst here we have a complete dysfunctional parliament from both sides fiddling whilst Rome burns…these guys have no grasp on reality and the people have simply stopped listening ..if it wasn’t compulsory to vote I reckon no one would. And it is having a detrimental effect on the poor old consumer..no confidence and business suffering too..after 18 months in power, it is a shambles and these are the adults!!
To the market Batman…knocking on 6000…it will get there although all the pesky ex divs are knocking it around…the big drivers continue to be the banks but now we have resources joining in..BHP and RIO leading the charge..from a low of 27 bucks BHP has rallied 22%!!!Really are things that good?..I suppose the punters are looking a long way out ..to a day when oil is back to $100 and Iron Ore is not given away with a pack of cereal..long way out…anyway no doubt the momentum will continue but its really hard to find value out there..earnings have been sporadic ..some really good and surprising and some shockers..the one off writedowns seem to be a trend this year..of course there is no such thing as a two off write off so they get called an asset impairment charge..means some bozo CEO paid completely the wrong price for something!!
Recently listed Martin Jet Pack has soared..sorry …to 87 cents last night having been issued at 40c after being revised down from 50c..now I reckon it’s a fab idea to strap a pair of engines to yourself and soar into the clouds especially given Sydney traffic but think there is a long way to go before we are all whizzing around like the Jetsons!!Just saying, only in this kind of market could a company put in this sort of performance and only after some seriously good PR and coverage..shows what happens when there is no stock around courtesy of the Chinese taking a huge slab of the float!
Idea of the Day-FLT for a recovery and to hurt the shorts!!MOC solid and CYP goes pretty darn well!!
Mortgage Choice reported yesterday and was a little underwhelming ,or at least the market thought so..I thought solid and on track to pay another 8 c on top of the 7.5 they just declared bringing us 15.5cents for the year fully franked and yielding 5.6% ..not too shabby…especially given the growth opportunities in Financial Planning that they are grasping ..the big banks are shooting themselves in the foot with their Wealth divisions as NAB is now in the spotlight..so maybe MOC can take advantage of this..anyway I remain a fan..
Ok, no more about MOC..my good buddy down south is a fan of FLT…massive short in this one and figures showing a good recovery…shares are too and look set to go higher.. The PE multiple at 19x and the current dividend yield is around 4.7% fully franked..good management and with rates falling and inbound tourism rising and house prices booming it is not inconceivable that they would push back up to the mid 40s again..shorters will be made to suffer!!!
Talked Cynata a few days ago at 84 c…hit 107 yesterday..speccy I know but nice to have a winner…
Things to make me go mmmmm!!!
Qantas have beaten market expectations!!!
The canary in the coal mine!!! Hewlett-Packard tumbled 10 percent after saying earnings will be hurt by the rising dollar.Take note of this..the high dollar killed our economy and we are just seeing the ramifications now that the tide has gone out on the mining sector and the US will suffer a similar fate if it is not careful as they cop a hit from the high USD!!
Chinese PMI was reported at 50.1, a four month high. Good news indeed..helped the Aussie battler.Knocking on the door of 79 cents again!!!
Good to see the Treasurer moving against overseas property buyers with his new tax..or levy ..or impost ..or whatever he calls it…sure to offside another group of voters!!can’t wait for the budget!!!
Puzzled, if the world is swimming in debt ..who do we owe all the money to??
Sydney airport’s pretax earnings rose for the full year to $948 million, meeting expectations, while revenue climbed 4.3 per cent to $1.164 million.
The airport operator said it will pay a 23.5c distribution for the full year and also announced guidance of 25c for 2015….and Max the Axe has retired…
Only going to get tougher for NEC…Nine Entertainment has posted a slide in profit and revenue amid a tough free-to-air television advertising market.
Net profit fell 6.4 per cent to $88.8 million while revenue dipped 1.9 per cent to $829 million, missing analysts estimates.
Ramsay Health Care said its half-year net profit rose 21.3 per cent to $191.4 million, om the back of strong admissions growth in all markets and the contribution of newly acquired facilities in France. Upgraded its full year guidance to net profit and earnings per share growth of 18 to 20 per cent, from 14 to 16 per cent previously. Chart is a straight line up..should keep on going..healthcare, peeps healthcare..
So remember when I urged everyone to buy as much fuel as they could at 1.00 a litre..well I saw it yesterday for 1.34!!!
Morgan Stanley said it agreed to pay $2.6 billion to settle with the U.S. Department of Justice over its sales of residential mortgage-backed securities.
Apple got whacked last night as they copped a big legal bill of around $562m for patent infringements..the patents were owned by a patent company called Smartfish and related to iTunes..the Smartfish guys don’t actually make anything except patents so expect a big appeal from Apple which is trying to change US patent laws…
And while everyone has been looking at Greece..let’s not forget that in May the UK holds a general election…so what you cry…well ask the UKIP so what..these guys have become a lightning rod for Anti-European sentiment..they could do quite well..in fact they could do very well indeed in which case life gets interesting!!!
My Wife’s Diary:
Tonight, I thought Henry was acting weird. We had made plans to meet at a nice restaurant for dinner.
I was shopping with my friends all day long, so I thought he was upset at the fact that I was a bit late, but he made no comment on it.
Conversation wasn’t flowing, so I suggested that we go somewhere quiet so we could talk. He agreed, but he didn’t say much.
I asked him what was wrong; He said, Nothing.’
I asked him if it was my fault that he was upset.
He said he wasn’t upset, that it had nothing to do with me, and not to worry about it.
On the way home, I told him that I loved him.
He smiled slightly, and kept driving. I can’t explain his behaviour.
I don’t know why he didn’t say, ‘I love you, too.’
When we got home, I felt as if I had lost him completely, as if he wanted nothing to do with me anymore.
He just sat there quietly, and watched TV.
He continued to seem distant and absent.
Finally, with silence all around us, I decided to go to bed.
About 15 minutes later, he came to bed.
But I still felt that he was distracted, and his thoughts were somewhere else.
He fell asleep; I cried.
I don’t know what to do.
I’m almost sure that his thoughts are with someone else.
My life is a disaster.
A two-foot putt… who the hell misses a two-foot putt?
Have a great day ..back on the Radio for Newcastle fans at 12.20!!