Jennifer Hawkins at Launch of Myer Autumn/Winter 2012 Collection

Jennifer Hawkins at Myer Autumn/Winter 2012 Collection Launch in Melbourne

Only good thing to come out of Myer ever!

Today’s Headlines

  • ASX 200 down 39 to 5723 on broad based selling, lunch rally fades.
  • High 5756. Low 5709.
  • Banks pause for breath.
  • Mining majors drop on iron ore falls.
  • Gold miners firm on safe haven buying.
  • Energy shares give ground.
  • Consumer stocks gain as interest rate fears subside.
  • PRY profit downgrade and write off.
  • Optus to spend $1bn in the bush.
  • RBA Guy Debelle sparks recovery on neutral rate comments.
  • Iron ore down 2% in Asian trade.
  • AUD 79.09 hits brick wall, temporarily.
  • US Futures down 5.
  • Asian markets slip slightly China CSI 300 down 0.25% Japan down 0.29%.



  • S32 -2.51% sellers follow through after production numbers.
  • FMG -2.50% uncertainty over Native Title.
  • RKN -2.67% slump on thin volume.
  • MTR +2.66% broker upgrades.
  • PPT -4.07% disappointing FUM down $1.5bn.
  • WHC -4.05% profit taking.
  • QAN -2.79% back to earth on higher oil price.
  • TLS -unchanged- changes to International roaming.
  • LNK +0.26% completes shortfall placement.
  • GXY +3.77% short covering.
  • WSA +4.05% despite falling nickel price.
  • CSR -5.50% technical selling as support breaks
  • Biggest risers – WSA, ALQ, GXY, REA, RFG and MTR.
  • Biggest fallers – CSR, PPT, WHC, MSB, IRI and AZJ.


  • Newcrest Mining (NCM) +0.56% entered an alliance with Encounter Resources to help generate and develop new projects in Western Australia. Encounter’s “highly credentialed” project generation team will work to create new project opportunities that both companies will develop as 50:50 joint venture partners.
  • Air New Zealand (AIZ) +1.9% has established a sponsored level 1 ADR programme with Deutsche Bank. The American Depository Recites (ADRs) will start trading over the counter in the US on 21 July 2017 and initially represent 20 ordinary shares in AIZ. On August 14, they will change to represent 5 ordinary shares.
  • Regis Resources (RRL) +2.20% have provided a June production update. Highlights included gold production of 90428 ounces, up 14% since March 17. Pre-royalty cash costs and all in sustaining costs both well below the lower end of FY17 annual cost guidance. The company reported FY18 guidance of gold production between 335000 and 365000 ounces and an AISC range of $940-1010 per ounce.
  • Oz Minerals (OZL) –0.66% The CFO, Luke Anderson has resigned to take up the role of CEO at Genesee & Wyoming Australia.
  • Silverlake Resources (SLR) +4.60% provided a June quarterly activities report. Some of the highlights included, Q4 gold sales up 7% qoq, cash a bullion +32% at 20 June and increased production at all 3 mines. They also provided FY18 guidance for gold sales of 135000-145000 ounces and an exploration budget of $11.8m.
  • Pilbara Minerals (PLS) –1.25% entered into a binding agreement for Tungsten Mining NL (TGN) to acquire the Mt Mulgine modular Tabba processing plant for $600,000 in cash and share.
  • Primary Health Care (PRY) +0.83% The company reported unaudited guidance is at the lower end of its previously reported range, $92m underlying NPAT. This is partially due to poorer performance in medical centres.
  • Atlas Iron (AGO) –unchanged- provided a June quarterly report, including highlights of $9m net cash generated from operations, 3.1m wmt shipped and FY18 production guidance of 9-10m wmt.
  • Spark Infrastructure (SKI) –0.79% The company’s funding entity who hold a 15% interest, have issued US$727m and A$25m of senior secured notes into the USPP market.
  • Top Betta (TBH) +9.59% has been granted a UK licence for pool betting and allows the company to launch the retail TopBetta business.


  • Guy Debelle has spoken at a conference today in Adelaide. “Just as the policy rate in Australia did not need to decline to the very low levels seen in other parts of the world, the fact that other central banks increase their policy rates does not automatically mean that the policy rate here needs to increase.” Seems his comments helped with the AUD falling back below 79c.


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  • The former vice chairman of China’s securities regulator has been found guilty of corruption after nearly two years of investigation by the country’s top anti-corruption watchdog.


  • The IMF agreed to a new conditional bailout for Greece worth around US$1.8bn.
  • Microsoft reported adjusted revenues of $24.7bn, up 9%. Cloud stars.
  • Gary Lineker has tweeted that he thinks it is a “disgrace” that Chris Evans is paid more than him.
  • Trump has sought advice on how to pardon himself and his aides.
  • Fund flows into continental equities highest since Macron victory in France.
  • Worrying for the UK, Deutsche Bank is planning for a hard Brexit, with plans to book the “vast majority” of its trades in Frankfurt. Frankfurt has emerged as a winner of the Brexit vote, with Standard Chartered, Nomura Holdings, Sumitomo Mitsui Financial Group and Daiwa Securities Group all choosing Frankfurt as their EU hub in recent weeks.

And finally…Thanks Hans..usual top quality gags….

After being married for thirty years, a wife asked her husband to describe her.

He looked at her for a while, then said, “You’re an alphabet wife … A, B, C, D, E, F, G, H, I, J, K.”

She asked, “What the hell does that mean?”

He said,” Adorable, Beautiful, Cute, Delightful, Elegant, Foxy, Gorgeous, and Hot.”

She smiled happily and said, “Oh, that’s so lovely … But what about> I, J, K?

He said, “I’m Just Kidding!”

The swelling in his eye is going down and the doctor is cautiously optimistic about saving his testicles.


Completed or Finished?

No dictionary has ever been able to satisfactorily define the difference between “complete” and “finished“. However, during a recent linguistic conference, held in London , England , and attended by some of the best linguists in the world. Samsundar Balgobin, a Guyanese linguist, was the presenter when he was asked to make that very distinction.  The question put to him by a colleague in the erudite audience was this: “Some say there is no difference between ‘complete’ and ‘finished.’  Please explain the difference in a way that is easy to understand.

Mr. Balgobin’s response:
“When you marry the right woman, you are ‘complete.’
If you marry the wrong woman, you are ‘finished.’
And, if the right one catches you with the wrong one, you are ‘completely finished.”

His answer received a five minute standing ovation.

Have a great weekend





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