The headlines:

  • ASX 200 wilts in Sydney heat, finishing down 2 points at 5744
  • High 5778 Low 5744.
  • Banks shine again with big miners too. REITs under pressure.
  • TLS slips with WES down too.
  • Industrials and utilities slip. Energy stocks out of gas.
  • Media reforms looking to pass.
  • AUD firms slightly to 80.22c
  • US Futures down 11.
  • Asian markets mixed with China CSI down 0.02% and Nikkei up 0.51%.

STOCK STUFF

Ex Dividends today

  • BXB -2.30%
  • CGC -2.26%
  • SVW -2.04%
  • LOV -1.19%

Movers and Shakers

  • MYX +13.18% on technical buying.
  • PPH +3.02% rides the APT boom.
  • WTC +3.15% continues to be tech stock of the year.
  • GXY -3.02% profit taking.
  • CBA +0.83% returns to US bond issuance.
  • PLS +1.01% insiders tip drives price higher.
  • MIN +3.55% lithium surge is strong with this one.
  • AOG -2.76% potential class action.
  • XRO +0.65% dons a turtle neck, launches swathe of new products at Xerocon.
  • MGC +% continued speculation on potential takeover.
  • Speculative stocks of the day: Wolf Minerals (WLF) +46.67% Tungsten play in Cornwall UK. Has cash flow problems though. Expect capital raising.
  • Biggest risers – MYX, APT, PPH, SBM, CLQ and SAR
  • Biggest fallers – GNC, HSN, NHC, NVT, MQA and BIN.

TODAY

  • Afterpay Touch Group (APT) +9.50%% Announced today it has entered into an agreement with Jetstar to offer the Afterpay services to its customers.
  • Newcrest (NCM) +0.90% Cadia East Panel Cave 1 production has recommenced. Remediation and upgrade work continues on other Panel Cave areas and are expected to be completed by December 2017.
  • 360 Capital Group (TGP) – unchanged- has offered 195c in cash to buy Asia Pacific Data Centre Group (AJD) +4.80%.

ECONOMIC NEWS

  • The survey of 1,200 people by the Melbourne Institute and Westpac Bank published Wednesday found consumer sentiment rose 2.5% in September, from August when it dropped 1.2%.

consumer sent.png

  • The survey’s measure of family finances over the next 12 months fell 2.1% in September. The index of finances compared to a month ago did bounce 6.1%, but was still down more than 7% on a year ago.

failaiatye.png

  • House price expectations dipped 2.8% but remained high, with 57%of the consumers surveyed expecting house prices to rise in the year ahead.
  • Looks like media reform will go through as Xenophon agrees.

BOND MARKET UPDATE

bonds 13.9.17

ASIAN NEWS

  • North Korea has vowed to accelerate the push for a nuclear missile to hit the US.
  • Iron ore futures in China jumped more than 2% on Wednesday, rising with steel prices for a second day as traders build stocks to cash in on the peak season for demand in the world’s top steel market.
  • The most-traded iron ore on the Dalian Commodity Exchange was up 2.2% at 548 yuan ($84) a tonne.
  • The most-active rebar on the Shanghai Futures Exchange rose 1.7% to 3,989 yuan per tonne.

 

EUROPE AND US MORNING HEADLINES

  • Leon Cooperman, the billionaire founder of hedge fund Omega Advisors, says a market correction could start “very soon.” “We can have a 5 to 8% correction anytime.”
  • Sweden Q2 GDP, eurozone industrial production.
  • Italian banks bad loans drop as the local economy rebounds.
  • Rupert Murdoch is facing a broadcasting standards investigation over its bid for Sky in the UK.
  • Good chart showing the rise in UK house prices. Amazingly 54% of homes are now more affordable since GFC (that’s record low interest rates for you). Average house prices are up 21%.

uk house porices.png

 

And finally…..Thanks Hans…

An Australian was drinking in a bar in London when he received a call on his mobile. He ordered drinks for everybody in the bar as he announced his wife has just produced a typical Australian baby boy weighing 25 pounds.

Nobody could believe that any new baby can weigh in at 25 pounds, but the man just shrugged, “That’s about average up our way, folks…like I said – my boy’s a typical Australian baby boy.”

Two weeks later the man returned to the bar. The bartender said: “Say, you’re the father of that typical Australian baby that weighed 25 pounds at birth, aren’t you? Everybody’s been making’ bets about how big he’d be in two weeks…..so how much does he weigh now??”

The proud father answered: “Seventeen pounds.”

The bartender was puzzled and concerned. “What happened? He was 25 pounds the day he was born.”

The father took a slow swig from his Bundaberg rum, wiped his lips on his shirt sleeve, leaned into the bartender and proudly said: “Had him circumcised.”

 

Still laugh at this one…I know I have put it in recently but what the hell….

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’.
Clarence

XXX

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NT Markets

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