Sorry no update yesterday as Beeks does his Sky Biz spot…catch him at 4pm every Tuesday
- ASX 200 loses puff on close to finish up 18 to 6055.
- High 6066 Low 6036 better volume.
- TPP clinched as PM optimistic on jobs and growth.
- Three banks rally leaving CBA behind.
- BHP and RIO miss out as iron ore slumps.
- Energy firms. Telcos slip again.
- Healthcare and infrastructure rallies.
- AUD steady around 80.10c
- Bitcoin $10,600. Slide continues.
- US futures up 14.
- Asian markets slightly weaker with CSI 300 down 0.06% and Japan down 0.81%.
Movers and Shakers
- COH +3.49% technical rally.
- MQA +3.11% broker upgrades on traffic numbers.
- RMD +2.76% positive broker comments after quarterly.
- UPD +4.96% bounce back on technical buying.
- QBE +5.37% decks cleared, and new CEO poised for action.
- WTC +4.18% buyers just keep coming.
- DHG +3.67% rebound continues.
- MEA +1.96% broker downgrades but privatisation looms.
- API +3.25% CEO address and presentation.
- MLX -7.83% copper price falls weigh.
- BRU -5.63% operational update.
- YOJ -5.17% GSW woes perhaps.
- GSW – remains in trading halt.
- SWM -0.90%% more redundancies.
- PAN +11.69% entitlement offer and presentation.
- BRN +15.00% traders jumping on story.
- 4DS +8.06% open briefing invite and Jim Dorrian substantial shareholder.
- Speculative stock of the day: Whitehawk (WHK) +32.50% oversubscribed IPO raises $4.5m for a cyber security exchange.
- Biggest risers – FNP, EWC, UPD, QBE, PPH and WTC
- Biggest fallers – MLX, SBM, GWA, HT1, COE and PMC.
- Kathmandu (KMD) +0.45% NPAT now expected to be no less than $12m with total sales up to $204m compared to $196.3m. Balance sheet has continued to strengthen, and the CEO is pleased with the progress the group is making.
- Michael Hill (MHJ) +6.53% Strategic repositioning of Emma and Roe plan. US market exit. Increased emphasis on omni channel offering.
- Santos (STO) +1.16% 4Q report. Net debt reduced to US$2.7bn down from US$3.5bn. Costs reduced by 12% to US$32 a barrel from US$36 in 2016. Sales volume of 83.4mmboe at the upper end of guidance. Total sales revenue up 20% to US$3.1bn. Santos doing all the right things. Guidance on 2018 sales of 72-78mmboe and production to be in the range of 55-60mmboe. Capex around US$825-875m. Continues to offer good gearing to a higher oil price with some corporate appeal perhaps.
- Ironbark Zinc (IBG) –0.40% Placement to raise $6m at 6.2c.
- SomnoMed (SOM) –13.81% Revenue growth of 45% in Q2. This is an interesting alternative to RMD in the sleep apnoea space. Going particularly well in the US where revenue grew 75% in Q2 driven by the RSS business. The statement warns of rising costs in the RSS business as additional RSS centres are opened in the US. Group revenues are expected to be around $70m for the year and EBITDA of a loss of $3.5m-$4m.
- Wattle Health (WHA) +4.77% Cash receipts in Q2 was $540,027 up 58%. The company expects increased sales after the recent initiatives with API for its infant formula and its successful CFDA application in China for its cow formula. Formal accreditation is expected soon. Bear in mind that this company is capitalised at $175m on sales of under $0.5m. Punters will read the headlines up 58%. Probably ignore the actual sales number.
- Rio Tinto (RIO) – 0.39% Mongolian government and RIO to explore win-win partnership solutions. The two are setting up a joint working group to explore developments in Mongolia.
- HUB 24 (HUB) +1.91% Strong inflows of $554m with FUA now at $6.9bn. 14 new license agreements during the quarter and new JV with Agility initiative released in a pilot program.
- The Westpac-Melbourne Institute Leading Index showed a six-month annualised growth rate reading of +1.41 per cent in December, up from +0.66 per cent in November.
- The index indicates the likely pace of economic activity relative to trend three to nine months into the future.
- Government signs new TPP with US out of the deal. It’s a big deal says ScoMo.
- Westpac has lifted its Australian dollar forecast to US72¢ from a previous forecast of US70¢ after revising its expectations for US interest rate hikes.
- Japanese export values rose 9.3% slightly below forecast of 10%.
- Imports increased 14.9% in December (forecast +12.4%).
- Shipments to the U.S. increased 3% in December.
- Shipments to the EU rose 11.4% in December.
- Vietnam’s main stock exchange said it would suspend trading for a second full day on Wednesday following a technical issue that surfaced on Monday.
- The Hong Kong-listed unit of Chinese developer Dalian Wanda has entered into an agreement to sell the rights and interests in certain Australian property projects.
- Signs of more scrutiny of state owned enterprises in China as Regulator tells executives all SOEs will have to make profits. Novel approach.
EUROPE AND US MORNING HEADLINES
- Jay Powell has been confirmed by the US Senate to serve as the next chairman of the Federal Reserve Board.
- Davos continues. Plenty of nerves about next downturn. Complacency rife. Apparently.
- World largest ETF hits US$300bn in assets. Happy 25th birthday.
- France is trying to lure London bankers with free French lessons.
- UK watchdog says Sky takeover by Murdoch’s Fox not in the public interest.
Time for some great Tommy Cooper gags I think…
1) One day a waiter fell sick and was rushed to hospital. He was lying on the table in great pain. When a doctor passed by the waiter said: “Hey doctor, could you do something for my pain?” The doctor said: “I’m sorry this isn’t my table.”
2) I said to the waiter: “There is no chicken in this chicken soup.” He said: “And there’s no horse in the horseradish either.”
3) I said: “How long will my spaghetti be?” The waiter said: “I don’t know. We never measure it.”
4) I met my wife at a dance. I thought she was at home with the kids.
5) My wife dislocated her jaw and couldn’t talk so I phoned the doctor and told him to drop round anytime, in a few weeks or a few months.
6) My wife had a bad habit of biting her nails but I cured her. I hid her teeth.
7) Show me a man who lost all his money and can still laugh and I’ll show you an idiot.
8) As my father used to say: “Never cry over spilt milk. It could have been whiskey.”
9) You can lead a horse to water but teach him to lie on his back and float and you’ve got something.
10) Last night I slept like a log. I woke up in the fire place.
11) I sleep like a baby. Every morning I wake up screaming around 2 o’clock.
12) I worry that as soon as I get into bed I drop off. I better order a bigger bed.
13) My wife complained that her feet hurt. I said: “You’ve got your shoes on the wrong feet.” She said: “But these are the only feet I’ve got.”
14) I saw an old tramp walking down the street wearing one shoe. I said: “Hey, you lost your shoe.” He said: “No I found one.”
15) These shoes are killing me. They are so tight my big toe and my little toe are now going steady.
16) I tried to swim the channel once. But I used too much grease. I kept slipping out of the water.
17) They always say start at the bottom if you want to learn something. But suppose you want to learn to swim?
18) They’ve got a big sign that says “no smoking in the pool”. Are they afraid the water will catch fire?
19) The plumber asked the woman where is the drip. She said: “He’s in the bathroom trying to fix the leak.”
20) This officer stopped me and said: “Why are you driving with a bucket of water on the passenger’s seat?” I said: “So that I can dip my headlights.”
21) This guy walked up to me the other night and said: “Quick, did you see a policeman around here?” I said no. He said: “Good. Stick’em up.”
22) When I play the accordion I always cry. It keeps pinching my stomach.
23) My uncle was a great conductor. He was struck by lightening.
24) I took saxophone lessons for six months. Until I dislocated my jaw. How did I know I was supposed to blow in the small end?
25) I just invested a step ladder, without steps. So clearly windows are on the ground floor.
26) My father invented a burglar alarm but someone stole it.
27) Electricity is a wonderful thing. Do you realise that of we didn’t have electricity we’d be watching television by candle light?
28) I was a big surprise to my parents. They found me on the doorstep. They were expecting a bottle of milk.