Beeks is back….been in Armidale for few days …hope you didn’t miss me too much..
Was catching up with the Beetrooter!!!! Bless.
- ASX 200 up 35 points to 6050 as banks rally again.
- Consumer staples take heart. JBH falls foul.
- Healthcare recovers with miners mixed.
- Macquarie conference presentations dominate.
- AUD tests 75c.Holds.
- Bitcoin bounces to US$9076.
- US futures down 31 points
- Asian markets disrupted by Golden Week. Japan down 0.20%, China down 0.01%.
- MARCUS CALL – Has the bank sector bottomed? Marcus also looks at a few stocks that have presented at the Macquarie conference.
- SMALL STOCK PORTFOLIO – Most of the gains yesterday were skewed to the big four banks. The rest of the market was more sanguine, today Henry provides an update on strategy.
- INSIDERS – Some good Mk1 eyeball research about The Good Guys. Henry takes a look at Shaver Shop (SSG).
- TRADING PORTFOLIO –One new trade today. Five stop losses raised.
- INSIDERS CONNECT WITH US – We invite you to send us your own stock ideas. We also have the facility for you to email us any questions. Click on the “Ask Marcus Today” button in the newsletter or below – Ask us anything:
Movers and Shakers
- IVC – 7.19% changing face of death weighs with downgrades.
- MQG -0.70% profit taking ahead of results.
- NEC +6.11% bounces back.
- BWX +5.29% attracting bargain hunters.
- FNP -2.97% after announcing production upgrade.
- NHC +7.08% Judicial review welcomed.
- KGN +5.16% tech bounce in US helps.
- CGF +4.00% Macquarie conference presentation.
- ARB +6.16% market update.
- XRO +3.38% broker upgrade.
- NCK -2.03% Macquarie conference presentation.
- HVN -2.56% slips on Good Guys woes.
- GTY -9.37% housing market slow down.
- RIO +0.39% says climate change was the reason it sold coal.
- LVH -1.52% jumps the gun on positive news.
- MYR +11.63% finding friends after chair buys 500k shares.
- TGN +14.29% after selling Watershed Tungsten project for $15m
- Speculative stock of the day: UraniumSA (USA) +57.14% after acquiring six highly prospective cobalt assets and an associated capital raising for $1.2m Huge volume.
- Biggest risers –QAN, MIN, NHC, ARB, NEC and FXJ.
- Biggest fallers –GTY, JBH, IVC, OMH and FNP.
- Genworth(GMA) –0.42% Profit drops, announces buyback. First quarter net profit down 84% on year to $8.4m. Underlying profit was down 71% on year to $19.9m, FY guidance unchanged. The company said it was making good progress in a strategic overhaul and announced an on-market share buyback of up to $100 million.
- JB Hi-Fi(JBH) -8.96% Lowers its net profit forecast from previous guidance of $235-240m to $230m. The retailer said the change in guidance comes on the back of headwinds in the home appliance market and challenging weather conditions. Despite the challenges at The Good Guys, the company reaffirmed its group sales guidance for the current fiscal year at $6.85 billion.
- Qantas (QAN) +8.10% Trading update – Q3 revenue up 7.5% to $4.25bn with underlying profit of between $1.55bn – $1.60bn.
- Woolworths (WOW) +0.90% Third quarter sales growth in food of 4% driven by underlying transaction growth. Big W showing some signs of improvement with comparable sales up 3.3%. Easter related items selling well. Camping especially. No real outlook statement to focus on.
- A 30% gender target for women on boards of ASX300 companies will be written into the stock market’s best practice standards for the first time.
- Perth Labor MP resigns due to family pressures. By election to come.
- There are estimated to be 550,000 households seeking to refinance in the next three years, an increase from 480,000 from last year, analysis reveals. Of those nearly one-in-three are having difficulty finding alternative finance.
BOND MARKET UPDATE
ASIAN MARKETS NEWS
- Looks like James Packer timed it perfectly as Casino revenue in the world’s largest gambling hub rocketed past even the most bullish expectations in April, soaring 28% from a year earlier.
- China’s non-manufacturing sector expanded at a slower pace in February. The non-manufacturing purchasing managers’ index came in at 54.4 this month, down from 55.3 in January.
EUROPE AND US MORNING HEADLINES
- Apple shows the power of its platform. Announces it will buy back the equivalent of a CBA. Or 11 AMPs though why you would want even one is an issue.
- Fed news tonight. No change all about the commentary.
- Gibson goes bust. Guitarists are gently weeping.
- Standard Chartered posted first-quarter profits and revenues slightly below expectations for the first three months of the year.
- 331 days to go until separation. In the meantime, UK Chancellor is aiming at sabotaging EU space project. Fun times ahead.
- May’s government could be on borrowed time on Brexit disaster.
- BP is about to unveil its first dividend rise in four years.
My thanks as usual to my followers for these gems..you know who you are!
Just read that 4,153,237 people got married last year, not to cause any trouble but shouldn’t that be an even number ?
If I had a dollar for every girl that found me unattractive, they would eventually find me attractive.
I find it ironic that the colors red, white, and blue stand for freedom until they are flashing behind you
A recent study has found that women who carry a little extra weight, live longer than the men who mention it.
Relationships are a lot like algebra. Have you ever looked at your X and wondered Y?
America is a country which produces citizens who will cross the ocean to fight for democracy but won’t cross the street to vote.
You know that tingly little feeling you get when you like someone? That’s your common sense leaving your body.
Did you know that dolphins are so smart that within a few weeks of captivity, they can train people to stand on the very edge of the pool and throw them fish?
My therapist says I have a preoccupation with vengeance. We’ll see about that.
I think my neighbor is stalking me as she’s been googling my name on her computer. I saw it through my telescope last night.
Money talks ..but all mine ever says is good-bye.
You’re not fat, you’re just… easier to see.
If you think nobody cares whether you’re alive, try missing a couple of payments.
I can’t understand why women are okay that JC Penny has an older women’s clothing line named, “Sag Harbor.”
My therapist said that my narcissism causes me to misread social situations. I’m pretty sure she was hitting on me.
My 60 year kindergarten reunion is coming up soon and I’m worried about the 175 pounds I’ve gained since then.
The pharmacist asked me my birth date again today. I’m pretty sure she’s going to get me
The location of your mailbox shows you how far away from your house you can be in a robe before you start looking like a mental patient.
I think it’s pretty cool how Chinese people made a language entirely out of tattoos.
Money can’t buy happiness, but it keeps the kids in touch!
And finally this is black and gold!!!!!
On the first day of school, the children brought gifts for their teacher. The supermarket manager’s daughter brought the teacher a basket of assorted fruit. The florist’s son brought the teacher a bouquet of flowers. The candy-store owner’s daughter gave the teacher a pretty box of candy. Then the liquor-store owner’s son brought up a big, heavy box. The teacher lifted it up and noticed that it was leaking a little bit. She touched a drop of the liquid with her finger and tasted it.”Is it wine?” she guessed. “No,” the boy replied. She tasted another drop and asked, “Champagne?” “No,” said the little boy, “It’s a puppy.”