ASX 200 started in the red and showed no sign of recovery closing down 21 points to 5778 led by Telstra and the consumer stocks. Asian markets eased with Japan down 0.35% and China down 0.14%. Hong Kong rose 0.57% to highest since 2015. AUD 77.25c and US Futures down 24.


  • Miners gave back some of the recent gains with Syrah Resources (SYR) +6.32%, Western Areas (WSA) +1.67% and Kidman Resources (KDR) +7.50% bucking the trend after announcing an expansion of a lithium project in a farm-in deal. Big miners marked time or weakened with South32 (S32) -0.71% starting their exploration program with AusQuest (AQD) -unchanged.
  • Gold stocks weaker with Newcrest (NCM) -0.18% and Evolution Mining (EVN) -3.11%.
  • Energy stocks all weaker except Whitehaven (WHC) +1.45%. Santos (STO) -1.07% and Origin Energy (ORG) -0.75% after an update on Silver-Star 1 exploration well.
  • Banks and financials eased with the Big Bank Basket $182.64. Insurers also in the sellers’ sights with Insurance Australia (IAG) -0.99% and Suncorp (SUN) -0.60%
  • Industrials led down by Telstra (TLS) -2.10% together with Vocus Group (VOC) -1.42%, TPG Telecom (TPM) -1.05%. Chorus Limited (CNU) -1.54% as the stock went ex-dividend. Consumer stocks weaker with Harvey Norman (HVN) -8.21% down heavily after media reports at the weekend on accounting issues with franchisee and a note from CommSec highlighting the risks to HVN, JB HiFi (JBH)-2.84% and Myer (MYR) -3.08% from the Amazon assault later this year.
  • Healthcare stocks one of the few bright spots today with CSL +1.39%, Primary Health Care (PRY) +3.65% and Estia Health (EHE) +1.33%.
  • Consumer staples eased as Wesfarmers (WES) -0.45% and Metcash (MTS) -1.33%. Information technology fell with Nearmap (NEA) -8.26% and Link Administration (LNK) -3.25% ex dividend.
  • Speculative stock of the day: Zyber (ZYB) +37.50% after the company had turned down two material transactions and will now focus on its MyZyber Enterprise application and Windows Desktop application.


  • Pro Medicus (PME) +9.26% announced that the Mercy has successfully installed the Visage 7 technology in record time. Mercy is the fifth largest Catholic health system in the US. Technology installed in less than 6 months.
  • Metals X (MLX) +5.44% has received a number of inquiries on its cobalt exposure. The company owns Wingellina in the Central Musgrave Project, one of the largest nickel-cobalt-scandium deposits in the world containing over 1.9m tonnes of nickel and 154,000 tonnes of cobalt.
  • Fletcher Building (FBU) -9.95% after downgrading expectations by arou8nd 15% with earnings guidance of $610m-$650m down from previous $720m-$760m. The company blamed contracts in the building and interiors unit. Looks like the problems stem from its Justice Centre project.


  • The chairman of ASIC has once again warned of a housing bubble in Sydney and Melbourne. ASIC also revealed it was also still considering action against Commonwealth Bank over the rigging of interest rates allegedly. Medcraft also warned about the potential impact of cyber-attacks on the stability of the financial system.
  • Treasurer Scott Morrison has telegraphed restrictions on interest -only loans for investment properties.


  • In China, new home prices rose 0.3%, quickening from January’s 0.2% increase, according to Reuters calculations from data issued by the National Bureau of Statistics (NBS) on Saturday. On Friday, Beijing’s municipal government announced new steps to rein in its housing market, increasing the minimum down payment for second home purchases in the city to at least 60% from 50%.
  • Korean gamemaker, Netmarble is looking to raise US$2.4bn in an IPO. Netmarble is the ninth-largest game publisher in the world, according to App Annie.


  • Mexican builders have been told to look to their conscience before tendering to builthe new wall.
  • Bullish bets on the crude price have been cut by the most ever. Wagers on a further price drop doubled as oil remained below $50 a barrel.exit 20.3.png
  • President Trump is giving another speech this evening. Usually market moving.
  • Deutsche Bank said it will raise EUR8bn by selling stock at a 35% discount to Friday’s closing price in a rights offering. The TERP (Theoretical ex-right price) of EUR15.79, is based on the last closing price of EUR17.86. The transaction subscription price is EUR11.65. The Subscription price represents a 26% discount to TERP based on the March 17 closing price.

And finally……………

An Australian ventriloquist visiting New Zealan

walks into a Small village and sees a local sitting o

his veranda patting his dog.

He figures he’ll have a little fun, so he says to the Kiwi

‘G’day, mind if I talk to your dog?’

Villager: ‘The dog doesn’t talk, you stupid Aussie.’

Ventriloquist: ‘Hello dog, how’s it going mate?’

Dog: ‘Yeah, doin’ all right.’

Kiwi: (look of extreme shock)

Ventriloquist: ‘Is this villager your owner?’ (pointing at the Villager)

Dog: ‘Yep’

Ventriloquist: ‘How does he treat you?’

Dog: ‘Yeah, real good. He walks me twice a day,

feeds me great food And takes me to the lake once

a week to play.’

Kiwi: (look of utter disbelief)

Ventriloquist: ‘Mind if I talk to your horse?’

Kiwi: ‘Uh, the horse doesn’t talk either…I think.’

Ventriloquist: ‘Hey horse, how’s it going?’

Horse: ‘Cool’

Kiwi: (absolutely dumbfounded)

Ventriloquist: ‘Is this your owner?’ (Pointing at the villager)

Horse: ‘Yep’

Ventriloquist: How does he treat you?

Horse: ‘Pretty good, thanks for asking. He rides me regularly, Brushes me down often and keeps me in

the shed to protect me from the Elements.’

Kiwi: (total look of amazement)

Ventriloquist: ‘Mind if I talk to your sheep?’

Kiwi: (in a panic)  –  ‘
The sheep’s a liar..’




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