The Canberra Circus continues

Today’s Headlines

• ASX 200 up 23 to 5986 as miners lead rally.
• High 5998 Low 5972 AGMs dominate.
• Amazon set to launch tomorrow.
• Banks weaker but healthcare better.
• Consumer staples firm ahead of Amazon Ice Cream launch tomorrow.
• Iron ore firms in Asia.
• AUD bounces to 75.66c from a five-month low.
• Bitcoin US$8175 in relative quiet trade.
• US futures up 31.
• Asian markets stronger with China CSI 300 up 0.37% and Japan up 0.54%. Hang Seng up 0.90%

STOCK STUFF

Movers and Shakers

• WSA +5.13% nickel price rises.
• OZL +3.55% metal price rallies.
• BHP +1.36% higher oil and copper price drawing buyers.
• CAT -0.57% AGM presentation.
• PLS +5.32% lithium buyers return.
• SEN +10.00% broker research.
• IAG +1.66% rally continues. The quiet achiever.
• FXL +4.95% broker research.
• WEB -11.55% guidance disappoints.
• DHG +4.39% buyers emerge.
• CYB +6.23% positive cost cutting story and maiden dividend.
• WTC +4.34% positive guidance at AGM
• FPH -5.29% broker downgrades.
• MIN +12.57% AGM presentation.
• Speculative stock of the day: QBL +30.00% ‘momentous’ deal with hemp processor. Huge volume surge.
• Biggest risers – MIN, SYR, A2M, CYB, VAH and PLS.
• Biggest fallers – WEB, FPH, HUB, NAN, QUB and HSN.

TODAY

• Webjet (WEB) –11.55% Is expecting FY18 EBITDA of $80m and TTV of $3bn. This compares to TTV of $1.95bn and EBITDA of $51m for the continuing operations reported in FY17. The company has said it expects negative cash flow in 1H FY18 due to a one-off acquisition of European travel business JacTravel.
• Sonic Healthcare (SHL) +0.09% has reaffirmed its full-year earnings guidance. Underlying earnings will grow by 6 to 8% on a constant currency basis compared to $889m in 2016/17.

ECONOMIC NEWS

• Commonwealth government makes its first investment in Bitcoin with a joint project with Power Ledger.
• Ninth MP/Senator resigns. NXT Senator was British.
• The price of milk products dipped to an eight-month low overnight.

 

ASIAN MARKETS

• All cash offer from Nippon Paint bid scuppers Akzo Nobel-Axalta merger talks
• Hong Kong stocks hit their highest level in a decade.

EUROPE AND US MORNING HEADLINES

• Meg Whitman is leaving HP after six years at the helm.
• Tesla has been burning money at a clip of about US$8,000 a minute (or US$480,000 an hour).
• Tesla has a market capitalisation of US$53bn. The Ford Motor Co is worth US$48 billion. The cash will run out early August 2018.
• Former Italian PM Berlusconi is heading to court overnight to challenge his right to run for PM again. Berlusconi wants the ban for tax fraud overturned in time for a election due by late May.
• UK Budget tonight. First non-Spring budget ever.

And finally…….

 

What is a Shih Tzu?

Answer: A Zoo without animals

Clarence

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