- ASX 200 slips 23 points to test 5702 again.
- North Korean fears win out.
- High 5721 Low 5690. Volume good for a Monday.
- Banks weigh again with CBA the worst.
- Miners firm but unspectacular. Golds slightly higher.
- Insurers and wealth managers slide again.
- Healthcare stocks slip. Utilities weaker.
- Consumer stocks weaker led by HVN.
- Food and dairy stocks fall on Asian worries.
- AUD higher to 79.61
- US Futures down 51 points. Labor Day holiday tonight.
- Asian markets mixed on geo political worries. Japan down 0.98% and China up 0.12%
Ex Dividends today
- AMC -2.91%
- FWD -7.62%
- MTR -2.01%
- NEC -4.03%
- SKT -6.40%
- SUL -3.88%
Movers and Shakers
- FNP -5.32% China fears.
- A2M –1.17% Asian worries weigh.
- CBA -1.42% money laundering woes continue.
- NAN -3.46% profit taking.
- VOC +5.26% technical buying.
- WHC +4.24% higher commodity prices.
- PRY -3.54% sell off continues.
- RHC -1.27% results weigh.
- Speculative stocks of the day: ResApp (RAP) +47.76% Following the company announcing that recent unsuccessful trials in the US for its ‘Shazam’ of coughing app. The trial had fundamental flaws and the company is working with health authorities to redo the trial this winter in the US.
- Biggest risers – LYC, VOC, GXY, NXT and MIN
- Biggest fallers – SM1, SLC, AAC, PRY and ING.
- Ansell (ANN) -0.97%Restructured its condom business in India, where JV partner, Raymond, will take full ownership of ANN’s J.K condom business. Ansell will have full ownership of the medical business selling medical gloves and hospital safety solution. Meanwhile, Ansell closes its Sexual Wellness businesses for $600m to Humanwell Healthcare and CITIC Capital China Partners.
- PharmAust (PAA) -4.84% Entered into a joint patent portfolio with Japan’s Nihon Nohyaku Co for its 50 anti-cancer compounds to treat both humans and dogs. Nihon Nohyaku will receive royalties on the sales.
- IMF Bentham (IMF) -unchanged-Announces that the settlement of a confidential case it has funded in Hong Kong has now become unconditional.
- Citadel Group (CGL) +1.47% Announces the acquisition of Char Health International for an upfront payment of $8.2m, equating to 6x EBITDA.
- Resolute Mining (RSG) +2.85% Has forward sold 96,000oz gold at an average price US$1,330/oz.
- DigitalX (DCC) -unchanged- Signed a joint venture with Stargroup (STL) to develop a ‘two way ATM’ solution for buying and selling Bitcoin. Stargroup has so far deployed approximately 500 ATMs in Star Payments and manages approximately 2,400 ATM’s via StarLink; and has direct ownership interests in NeolCP Korea Inc – a private Korean company that manufactures back office, coin counting and casino settlement solutions.
- Commonwealth Bank (CBA) -1.42% Board room changes with Rob Whitfield to take up a board seat. Launa Inman and Harrison Young, will retire at the bank’s annual general meeting in November. The bank also announced that it had three months to prepare its defence against the AUSTRAC charges. AUSTRAC then has three months to file a response. No easy quick fix for this one.
- Ardent Leisure (AAD) +1.03% company backs down as its goes in to Ariadne demands for two directors.
- Company gross operating profits, on a seasonally adjusted basis, fell 4.5% over the three months to June after climbing 5.8% over the March quarter. Inventories eased 0.4%, again on a quarterly and seasonally adjusted basis, against the consensus forecast for a 0.3% gain.
BOND MARKET UPDATE
- Sequoia Capital and IDG Capital are investing in Beijing-based Bitmain Technologies. the world’s largest bitcoin mining organisation. Bitmain, which produces chips and machines for mining bitcoin and operates its own mining facilities. Bitmain is raising US$50m from several venture firms.
- Nickel touches two year high in China.
EUROPE AND US MORNING HEADLINES
- Trump expected to end ‘Dreamers’ program on Tuesday.
- Calls are building for the US debt ceiling to linked to rescue and relief efforts for Hurricane Harvey.
- UK construction PMI, eurozone PPI. Security Council meets.
- UK divorce is getting increasingly acrimonious as UK lawyers take apart the EU demands line by line.
- Merkel has come under pressure on her immigration policy in a TV debate with three weeks to go until German elections. Been pretty quiet on these elections as Merkel is seen as an easy winner. Maybe some excitement to come.
- Walter Becker no longer ‘reelin in the years’. Vale.
The Italian Lover, a virile middle aged Italian gentlemen named Guido, was relaxing at his favorite bar in Rome when he managed to attract a spectacular young blond woman. Things progressed to the point where he led her back to his apartment and, after some small talk, they retired to his bedroom where he rattled her senseless.
After a pleasant interlude, he asked with a smile, “So, you finish?” She paused for a second, frowned, and replied, “No.”
Surprised, Guido reached for her and the rattling resumed. This time she thrashed about wildly and there were screams of passion. The sex finally ended and, again, Guido smiled and asked, “You finish?” Again, after a short pause, she returned his smile, cuddled closer to him and softly said, “No.”
Stunned, but damned if he was going to leave this woman unsatisfied, Guido reached for her yet again.
Using the last of his strength, he barely managed it, but they ended together screaming, bucking, clawing and ripping the bed sheets. Exhausted, Guido fell onto his back gasping. Barely able to turn his head, he looked into her eyes, smiled proudly and asked again, “You finish?”
Barely able to speak, the beautiful blonde whispered in his ear, “No, I Norwegian.”