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Today’s Headlines

  • ASX 200 up 1point to 5890.5 fails to hold 5900 as profit taking creeps in.
  • High 5906 Low 5887.
  • Banks mixed with CSL update lifting sentiment in healthcare.
  • Miners under pressure on metal price falls.
  • Rio ex-executives charged with fraud.
  • TLS back to usual form.
  • AUD steady at 78.48c
  • US futures up 26.
  • Asian markets slightly higher with Japan up 0.04% and China CSI up 0.48%.

STOCK STUFF

Movers and Shakers

  • SBM +11.19% presentation to conference yesterday.
  • BIG +11.63% platform joins Apple TV.
  • LLC -10.48% broker downgrade and company trading update disappoints. Only sells 25% of retirement business.
  • CGF +3.41% still drawing strength from FUM numbers.
  • CIA -12.69% change in substantial holding.
  • BIN -9.52% dumped.
  • VOC -1.86% gives up recent rally as chief transformational officer leaves after 3 months.
  • LOV -2.92% profit taking.
  • BWX – Trading halt on transaction.
  • VTG -3.87% diversifies into non-invasive surgery.
  • IFL +5.15% market cheers ANZ wealth deal.
  • JHX +3.31% plays catch up with US exposed BLD.
  • APT +10.21% very positive trading update.
  • AGL +2.11% new NEG reform package cheers.
  • Speculative stocks of the day: ADO +177.78% after the company engaged a US based battery consulting company to undertake a third-party review of its surface nano-coating technology for use in LiO batteries. A tick of approval is sending the IP to the next level.
  • Biggest risers – SBM, IFL, APT, EWC, JHX, ACX and GXY.
  • Biggest fallers – CIA, LLC, BIN, ALU, CLQ and JBH.

TODAY

  • Rio Tinto (RIO) -0.76% US regulators on Tuesday sued Rio Tinto PLC and two former top executives, following allegations they deceived investors about the value of Mozambique coal assets obtained in a disastrous acquisition that caused huge losses for the global mining giant. RIO says it will defend against the allegations and says the case is ‘unwarranted’.
  • Brambles Limited (BXB) +0.76% Has released its first quarter trading update for FY18. Sales revenue for the first 3 months is up 8% on the prior corresponding period at actual FX rates, and 6% at constant currency. Brambles’ CEO Graham Chipchase has said the numbers are in line with expectations for mid-single digit revenue growth through the cycle.
  • BHP Billiton (BHP) -0.51% Has released its operational review for its first quarter today. CEO Andrew Mackenzie has noted, performance in the first quarter has kept the company on track to deliver 7% volume growth in FY18. All production and unit cost guidance remains unchanged for the 2018 financial year and all major projects under development are tracking to plan.
  • CSL Limited (CSL) +1.80% Has had their 2017 AGM today. The company reaffirmed guidance for FY18 NPAT, expected to come in around $1,480m – $1,550m on a constant currency basis.
  • Crown Limited (CWN) -4.34% Allegations tabled in the Federal Parliament about tampering with betting options has sent the stock southward today. A paper tabled by MP, Andrew Wilke alleges that the casino tampered with poker machines so that punters would continue to bet, and also turned a blind eye to illicit drug use. The paper accompanies a 30-minute video of three former staff members substantiating the accusations. Crown has strenuously denied any wrong doing.

ECONOMIC NEWS

  • Westpac’s Leading Index for September has indicated that the economy may be slowing. The index fell to -0.21% in September from -0.16% in August. Westpac said it relates to lost momentum in the economy – particularly in terms of the consumer, who is weighed down by weak wages growth, higher energy prices and increasing household debt.
  • The NAB’s cashless retail sales index rebounded in September. Retail rose by 0.6% for the month; but on a YoY basis, it has dropped 5.5%.

BOND MARKET

 bonds 19.10.17

ASIAN MARKETS

Chinese 19th Plenum kicks off as the festivities begin.

plenum.png

Main points so far in a speech over three hours. Imagine that. Mao’s speeches went on for days.

  • Xi Jinping vowed to maintain the state’s role in managing the economy, as he pledged the country would not close its doors to the world.
  • Still talking tough on corruption and environmentalism.
  • Pledged to make interest rates and the currency more market orientated, without providing details.
  • Goal of making China a “manufacturer of quality” and an “innovative nation”.
  • Xi also hailed the rise in China’s international standing.
  • The economy remained “unbalanced” and more needed to be done to protect the environment.
  • `No country can afford to retreat into self-isolation’. Aimed at Korea and Trump maybe?
  • Love the long-term thinking. Chinese military to become world’s first-class force by 2050
  • One nation, two systems” best solution for Hong Kong, Macau. Even Pauline Hanson got a mention it seems. One China focus. Think he is talking about HK.
  • Here’s a novel thought and from China too. Houses are for living In, not for speculation. Not sure that will catch on here.

EUROPE AND US MORNING HEADLINES

  • Mark Carney reaffirmed that the Bank of England is close to its first interest-rate increase in over a decade.
  • Marc Faber has been banned from some networks as a talking head after racist comments.
  • The UK Government is set to tighten its grasp on merger and takeover deals in the interest of national security, setting out fresh rules. Currently the Government only has the power to block a deal if a business has a UK turnover of more than GBP70m it now proposes to drop it to GBP1m if it is involved in certain sectors. City not happy.

And finally…………………

 

FULL BODY SCANS AT AIRPORTS:

Airport Screening Results

2013 Statistics On Airport Full Body Screening From CATSA :
Terrorists Discovered      0
Transvestites   133
Hernias 1,485
Hemorrhoid Cases 3,172
Enlarged Prostates 8,249
Breast Implants 59,350
Natural Blondes 3

It was also discovered that 308 politicians had no balls.

Thought you’d like to know.

 

When four of Santa’s elves got sick, the trainee elves did not produce toys as fast as the regular ones, and Santa began to feel the Pre-Christmas pressure.
Then Mrs. Claus told Santa her Mother was coming to visit, which stressed Santa even more.
When he went to harness the reindeer, he found that three of them were about to give birth and two others had jumped the fence and were out, Heaven knows where.
Then when he began to load the sleigh, one of the floorboards cracked, the toy bag fell to the ground and all the toys were scattered.
Frustrated, Santa went in the house for a cup of apple cider and a shot of rum. When he went to the cupboard, he discovered the elves had consumed all the cider and hidden the liquor…. In his frustration, he accidentally dropped the cider jug, and it broke into hundreds of little glass pieces all over the kitchen floor. He went to get the broom and found the mice had eaten all the straw off the end of the broom.
Just then the doorbell rang, and an irritated Santa marched to the door, yanked it open, and there stood a little angel with a great big Christmas tree.
The angel said very cheerfully, ‘Merry Christmas, Santa. Isn’t this a lovely day? I have a beautiful tree for you. Where would you like me to stick it?’

And so began the tradition of the little angel sitting on top of the Christmas tree.

Not a lot of people know this.

Clarence

 

XXX

30 years ago the crash of 87 changed my life…will write a special recollection article tomorrow or is it like the sixties…anyone who remembers it wasn’t really there!!

 

mt_tryforfree

Get a Global take on things at www.ntmarkets.com

 

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