- ASX 200 gives up early gains unchanged at 5690.
- High 5718 Low 5679.
- Resources marginally firmer. BHP Ex-dividend.
- Banks slips though CBA outperforms.
- BHP ex-dividend weighs.,
- CSL slips. TLS stars.
- Economic data much in line. Same sex marriage vote goes ahead.
- AUD 79.92c
- US Futures down 35 points.
- Asian markets bounce on lower tensions japan up 0.18% and China CSI up 0.05%
Ex Dividends today
- ASX -2.26%
- BHP -1.44%
- CTD -0.60%
- EHE -1.27%
- FXL -1.50%
- GXL -1.39%
- MND -0.48%
- NHF -2.78%
- PME -3.35%
- WOW -1.79%
Movers and Shakers
- IRI +5.86% bounces back after founder share sale yesterday.
- ORE +4.88% lithium interest continues following results.
- GXY +4.13% sector bounces.
- ALQ +3.19% mining service momentum continues.
- CIM +2.70% mining services rally.
- ACX +4.49% rally continues.
- MSB -0.66% profit taking after placement.
- RSG -2.77% bullion price falls.
- BAL -1.17% profit taking continues
- TLS +2.76% broker upgrade
- SUN +0.56% finding some bargain hunters.
- QBE +0.20% finding support
- MGC +11.63% takeover rumours from A2M.
- BIG +8.15% revenue update increases to $14m
- QIN – Shareholder class action filed
- Speculative stocks of the day: G88 +23.08% after a high-grade gold identified at Golden Mile project. Drilling to begin October.
- Biggest risers – IRI, ORE, SKT, ILU, GXY, ACX and SYR.
- Biggest fallers – HSO, AAD, RSG, BWX, LNK and MSB.
- Rio Tinto (RIO) +0.73% Has today lifted estimates regarding coal reserves at their Kestrel mine in Queensland. Kestrel ore reserves have increased by 62 Mt, from 123 Mt to 185 Mt. This increase in ore reserves reflects a continuation of work on Rio Tinto Coal Australia deposits previously announced on 3 March 2016.
- Sigma Healthcare (SIG) +2.91% Has reported a lift in EBIT of 14.6%, to $42.8m for the first half of FY18. Underlying EBIT came in down 8.7%, to $44.2m, consistent with previous FY18 guidance. The company faced a number of headwinds which have impacted underlying performance, underlying NPAT was down 8.8% to $28.9m. A 2.5c dividend has been declared, reflecting a payout ratio of 92% of underlying profit. Sigma has also made a major acquisition snaring MPS Australia for $18.5m.
- Transurban (TCL) +0.08% Has priced €500m of 10.5-year bonds under its Euro Medium Term Note Programme. All proceeds will be converted to AUD and used to repay forthcoming debt maturities, assist with funding their development pipeline and general corporate purposes.
- Big Un (BIG) +8.15% Has released a market update showing revenue will rise to $14m for Q1 a material increase to its last update of $12m.
- Santos (STO) –unchanged- The Company along with its GLNG joint venture has announced it will supply 30 petajoules of gas to the east coast domestic market over the next two years. The gas, which would otherwise have been exported as LNG is enough to power 330,000 homes over the period.
- Domino’s Pizza (DMP) +1.02% The artificial intelligence developer Dragon tail systems is progressing its testing for its self-learning quality control technology in conjunction with Domino’s. The technology will monitor Domino’s complete pizza production process from food prep to delivery looking to improve quality and consistency of meals by machine self-learning and improving its own diagnostics and efficiency over time.
- Pilbara Minerals (PLS) +2.56% Has awarded the contract for its Pilgangoora Lithium-Tantalum Project to mining services contractor MACA (MLD). The contract is for 2 years with three options for one-year extensions. Requirements of the contract are that a mining rate of 8Mtpa is met to supply 2Mtpa of ore during stage 1 of the project.
- Updater Inc. (UPD) -4.29% Has completed an institutional placement to raise $50m through 40m CDIs at a 10.7% discount to Monday’s close price. The funds will be used to acquire new IGC software, Asset Controls Inc., finance the roll out of its new insurance division and increase working capital. The company will also offer 200,000 common shares to select US investors on the same terms (at $1.25c) to raise a further $6.2m.
Retail sales went nowhere in July, as the ABS number came in below the 0.2% growth economists were expecting. Retail turnover grew 0.2% in June.
- A 1.7% monthly drop in household goods retailing and a 2.8% fall in spending at department stores
- A trade surplus of $460min July, and once again it came in below economists’ forecast for a $1bn surplus. In June, the surplus was $856m.
- Net foreign debt falls below $1 trillion for the first time since December 2015.
BOND MARKET UPDATE
- Alibaba-backed Best Logistics IPO is set to raise US$1bn in the US. Largest float of a Chinese company in the US.
EUROPE AND US MORNING HEADLINES
- Two US storms have now become Hurricanes. ‘No way Jose’ I hear you say but yes, Jose and Katia upgraded.
- ‘Super Mario’ speaks tonight. The ECB is widely expected to bump up its 2018 growth forecasts on Thursday in what could be the fourth consecutive quarterly upgrade of the projection. We are also expecting Draghi to lay out a firmer timetable for a withdrawal of stimulus and a winding back of the ECB balance sheet.
- Germany industrial production July. UK Halifax house prices August.US Fed Mester speaking tonight.
- ‘Foule difficile’. The approval rating of Macron in France has dropped 13 points in two months. 41 % now approve of his leadership. Some reports are around 30%.
- German elections looming for September 24th. Merkel ahead by a country mile. CDU has 38%-40% of polls.
- Brazil has cut rates by 1% to 8.25%.
And finally….thanks Hans as usual a classic gag…
An Irish man went to confession in St. Patrick’s Catholic Church. ‘Father’, he confessed, ‘it has been one month since my last confession. I had sex with Fanny Green twice last month.’
The priest told the sinner, ‘You are forgiven. Go out and say three Hail Mary’s.’
Soon thereafter, another Irish man entered the confessional. ‘Father, it has been two months since my last confession.I’ve had sex with Fanny Green twice a week for the past two months.’
This time, the priest questioned, ‘Who is this Fanny Green?’ ‘
A new woman in the neighbourhood,’ the sinner replied.
‘Very well,’ sighed the priest.. Go and say ten Hail Mary’s.
At mass the next morning, as the priest prepared to deliver the sermon, a tall, voluptuous, drop-dead gorgeous redheaded woman entered the sanctuary. The eyes of every man in the church fell upon her as she slowly sashayed up the aisle and sat down right in front of the priest. Her dress was green and very short, and she wore matching, shiny emerald-green shoes.
The priest and the altar boy gasped as the woman in the green dress and matching green shoes sat with her legs spread slightly apart, but just enough to realise she wasn’t wearing any underwear.
The priest turned to the altar boy and whispered, …..’Is that Fanny Green?’
The bug-eyed altar boy couldn’t believe his ears but managed to calmly reply, ‘No Father, I think it’s just a reflection from her shoes’.