Today’s Headlines

  • ASX 200 up 4 to 5998 in quiet thin trade.
  • High 6015 Low 5990.
  • Early strength gives way to Xmas apathy.
  • CBA better with BHP and RIO pushing ahead.
  • CSL slips on profit-taking.
  • RFG gets savaged by Fairfax Media.
  • Second bid for AWE.
  • Bid for TOX.
  • AUD rallies to 75.21c
  • US futures up 23. Bitcoin CBOE futures kick off. System crashes.
  • Bitcoin surging in volatile trading again to over US$16,300. January futures +$3000.
  • Asian markets higher with China CSI up 0.86% and Nikkei up 0.44%

STOCK STUFF

Movers and Shakers

  • LYC +4.51% Trading on a normal basis.
  • AGL -0.23% to close Liddell as expected.
  • BWX +2.57% director resignation.
  • KDR +7.80% broker write up.
  • MSB +2.60% US attention. Teva rallies.
  • HT1 +3.15% Response to media speculation re EBITDA forecasts.
  • RFG -26.14% Fairfax media weekend article.
  • MIN -8.23% acquisition proposal for AWE.
  • CAN -7.85% sector capital raisings. Appendix 3B for 250c placement.
  • MLX +2.79% copper price gains.
  • MTS +4.19% UBS ceasing to be a substantial shareholder.
  • NCK -1.45% thin volume.
  • NOX +6.00% thin trade.
  • IAG +2.23% new quota share agreement.
  • Speculative stock of the day: Ookami (OOK) +41.67% Acquires a strategic stake in a blockchain company called Brontech. OOK will acquire 18.32% for $933k. One to watch.
  • Biggest risers – TOX, KDR, PME, LYC, PPH, and FXL
  • Biggest fallers – RFG, MIN, CLQ, SIQ, and

TODAY

  • Cleanaway Waste Management (CWY) offering to buy smaller rival Tox Free Solutions (TOX) +19.72% for 342.5c a share in cash, valuing Tox at $671m on a diluted basis. The Cleanaway offer is at a 20.6% premium to Tox’s closing level on Friday of 284c.
  • AWE +16.44% Looks like another party is interested in the stock with a counter bid emerging. Minerals Resources (MRL) have announced an 80c in scrip for the company. Positive for the share price. Game on. A scrip bid is not as attractive as a cash bid but clearly management and the board will be hoping that CERCEG ups its cash bid too. Waitsia 2 looks like the attraction.
  • Oz Minerals (OZL) +1.13% The company has confirmed wide copper zones at Jericho.
  • Alexium (AJX) -2.63% has announced an institutional placement to raise $12m and an SPP for $3m at 35c.
  • Get Swift (GSW) –3.75% Returned to trading after a successful $75m placement at 400c. Stories were that the placement was to raise $100m so this may be a little disappointing for the company. It announced that it was oversubscribed but given they were targeting $100m and only got $75m it may weigh on the share price.
  • Retail Food Group (RFG) –26.14% The stock has taken a tumble this morning after the weekend Fairfax inquiry into the franchise practices. The company has issued a warning that store owners should not air their grievances in public as they may be breaching their franchise agreements. More than 100 franchisees have come forward, describing life inside the RFG machine. “
  • Bitcoin Futures started trading this morning on the CBOE Global Exchange. Exchange circuit breaker tripped. CME starts next Monday with futures trading.
  • Optus will compensate 8700 customers for misleading NBN speeds.

ECONOMIC NEWS

  • NZ has named Adrian Orr as new Reserve Bank Governor. Orr is currently chief executive of the New Zealand Superannuation Fund and was previously a deputy governor at the RBNZ.
  • Data downloads: Across all devices,1 terabytes were downloaded over the June 2017 quarter, up 43% year-on-year, the Australian Communications and Media Authority latest report found.

BOND MARKET

bonds 11.12

ASIAN NEWS

  • Fitch has upgraded the Philippines’ sovereign rating, citing domestic demand and foreign direct investment as evidence for strong investor sentiment and forecasting robust growth in the medium term.
  • China is building a US$151m floating solar power plant in the province of Anhui. The world’s biggest is expected to come online by May 2018.

EUROPE AND US MORNING HEADLINES

  • Danske Bank A/S has attracted 11,500 clients to an investment service provided by a robot. The robot is called June. It targets retail clients and small businesses that normally wouldn’t have the resources to work out what to do with their surplus cash.
  • JPMorgan Chase & Co. predicts average interest rates across advanced economies will climb to at least 1% next year in what would be the largest increase since 2006.
  • A clearer picture should form this week when the Norges Bank, Fed, Bank of England, European Central Bank and Swiss National Bank announce their final policy decisions of 2017. They collectively set borrowing costs for more than a third of the world economy. At least 10 other central banks also deliver decisions this week.

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  • Fitch has upgraded its rating on Iceland for the second time in five months.
  • More than $11tn of sovereign and corporate bonds traded with a yield below zero at the end of November, despite quickening global growth.

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  • UK Brexit deal row intensifies. Ireland not happy Jan.
  • Uber will head to court today to fight its London ban, kicking off the first of two crucial legal battles over the next fortnight.

And finally……………..

Ralph went out for a quick round of golf, and at the first tee, Bill was about to tee off in front of him. Bill took a brand new ball out of his bag, unwrapped it, placed it on the tee and promptly sliced it  into the trees.

“Damn!” he said.

Bill reached back into his bag and took out another brand new ball, unwrapped it, and teed it up.

Thwack!

He then hooked it miles into the bushes.

He reached into his bag and took out another brand new ball, unwrapped it and teed it up.

At that point, Ralph had seen enough and approached Bill.

“Err, excuse me, but I notice you’re losing a lot of brand new balls. Why don’t you use an old one?” he asked.

Bill looked at Ralph and said, “Because I’ve never had one!”

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jokeee

Just a quick heads up..Clarence will be heading overseas for a well earned holiday from Friday so back in the New Year unless something significant happens that is..

 

You can always contact Clarence through his alter ego at henry@marcustoday.com.au

 

Last Sky Biz session tomorrow at 4pm…yay!

 

Clarence

XXXX

mt_tryforfree

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

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