Dr-Strangelove-featured-760x850

Today’s Headlines

  • ASX 200 limps to close -4 to 6033.
  • High 6039 Low 6017.
  • Banks rebound on bargain hunting.
  • Resources slip on growth fears and profit taking.
  • WES sells UK business. TLS gets a buy recommendation.
  • Oil stocks run out of juice.
  • AUD steady at 75.65c
  • Bitcoin falls again to US$7590
  • AUD Gold rallies to $1302.
  • US futures up 65 on North Korean moves.
  • Asian markets slightly firmer with Japan up 0.12% and China CSI 300 up 0.16%

STOCK STUFF

Movers and Shakers

  • CIA +12.41% shipment of 1 millionth ton of iron ore
  • TLS +2.87% UBS says Buy.
  • RSG +4.42% exceptional drill results.
  • ALL +4.26% broker upgrades, hits jackpot.
  • AU8 – trading halt pending acquisition.
  • KDR -7.47% SQM comments on lithium market
  • ORE-4.49% GXY -1.66% follows KDR.
  • EPW -10.33% US outlook.
  • OLI -4.17% ceasing to be a substantial shareholder
  • AKP +6.54% negligible volume.
  • VOC +2.52% short covering.
  • GXL +5.94% media speculation of private equity interest.
  • TTT +9.09% heavy demand.
  • BRN +7.14% company secretary appointment.
  • TWE +3.73% bargain hunters.
  • TNE +3.03% short covering.
  • HIG +18.18% gathering friends.
  • MND -1.00% broker downgrade.
  • Speculative stock of the day: Compumedics (CMP) +% signs major distribution agreement in China worth at least $15m
  • Biggest risers –CIA, WGX, BKL, NAN, RSG, ALL and APE.
  • Biggest fallers –KDR, HT1, ORE, JMS, SLC and SYR.

TODAY

  • Wesfarmers (WES) +0.91% The company has announced it has sold its UK Homebase business. Wesfarmers advises that it expects to record a loss on disposal of £200m to £230m in the Group’s 2018 full-year financial results. The divestment is expected to be completed by 30 June 2018. The company will share in some upside, 20%, if the new owners do well. Hilco is teaming up with existing management to take over the leases, liabilities, and business of Homebase and the 24 pilot stores under the Bunnings UK banner.
  • Commonwealth Bank (CBA) +0.40% the company has updated the market on the AUSTRAC current status. Ongoing mediations and discussions with AUSTRAC.
  • Sydney Airport (SYD) +1.12% AGM comments today from CEO, reaffirming the 2018 distribution guidance of 37.5c per stapled security. The new CEO Geoff Culbert has only been in the job for a few months. Some good numbers in the speech on the growth of tourism and the importance of China and also the focus now shifting to India as a potential growth market.

ECONOMIC NEWS

  • Nothing significant today.

BOND MARKETS

ASIAN MARKETS NEWS

  • Samsung has been ordered to pay Apple US$540m in a patent case. Like Apple really needs the money.

EUROPE AND US MORNING HEADLINES

  • US Secretary of Commerce will visit China in early June.
  • This is a great look. The boss of BT, in the UK, has got a big pay rise just a few weeks after sacking 13,000 people. He got a nice GBP2.3m bonus for his efforts including a performance bonus.
  • The White House gift shop has been lumbered with a batch of commemorative North Korea Peace summit coins, going cheap now it seems. Down to 20 bucks from 25. Deal of the day.

  • And finally this is so cool. A drone start-up called Zipline International delivers up to 500 packages a day in hard to reach areas like Rwanda. And what does it deliver? Blood bags. Some say it is the most significant delivery breakthrough since Amazon Prime.Certainly more worthwhile than a pair of Jimmy Choos.

Click here for the afternoon podcast…go on give it a go…feedback welcome..subscribe to the podcast!

 

And finally……………..

Two blondes were trapped in an elevator. One was crying in the corner and the other one was shouting, ”HELP! HELP!” Then the one crying had an idea, ”Why don’t we shout together?” “Okay,” said the other blonde. ”TOGETHER! TOGETHER!”

 

Teacher: “If I gave you 2 cats and another 2 cats and another 2, how many will you have?”
Johnny: “Seven.”
Teacher: “No, listen carefully… If I gave you 2 cats, and another 2 cats and another 2, how many will you have?”
Johnny: “Seven.”
Teacher: “Let me put it to you differently. If I gave you 2 apples, and another 2 apples and another 2, how many would you have?”
Johnny: “Six.”
Teacher: “Good. Now if I gave you 2 cats, and another 2 cats and another 2, how many would you have?”
Johnny: “Seven!”
Teacher: “Johnny, where in the heck do you get seven from?!”
Johnny: Because I’ve already got a bloody cat!”

 

Have a great weekend

Clarence

XXXX

mt_tryforfree

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

Advertisements