The Canberra Circus continues
- 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%
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.
- 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.
- 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.
- 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.
What is a Shih Tzu?
Answer: A Zoo without animals