Today’s Headlines

• ASX 200 cruises through 6200 up 26 to 6208 as banks run out of puff at close.
• High 6234 Low 6184. Big volume following ETO expiry.
• ASX 200 up 12pts for the week and the quarter. Yes really.
• Banking Royal Commission focusses on greed and regulator failure.
• Miners sidelined as banks rise initially. BHP looking good.
• Bulk Commodity basket at six-month high
• Healthcare remains under pressure.
• AUD slips to 72.17c on USD strength. Yen hits a new low.
• Bitcoin higher at US$6699
• Aussie Gold weaker at $1641.
• US futures down 20
• Asian markets rally on strong USD Japan up 1.51% and China up 0.86%

STOCK STUFF

• SXY +4.17% oil price kick
• MSB +4.88% rally resumes.
• NAN +4.97% broker upgrade.
• NEA +2.37% book squaring.
• WGN +2.84% pilot training win.
• BKL -3.33% thin volume.
• HLO -4.74% profit-taking after huge run.
• MQG -1.34% German woes weigh.
• SDA -3.84% selling resumes.
• CGC -1.25% profit-taking.
• CSR -2.33% US housing weighs.
• TBR +12.20% revised date for second dividend payment.
• RAP +5.00% annual report
• NHC +3.95% positive coal price moves.
• Speculative stock of the day: Biotron (BIT) +115.79% after a significant immunological outcome in BIT222 HIV-1 Clinical trial. Phase two showing significant benefits.
• Biggest risers – HSN, PPH,NAN, MSB, SXY and NHC
• Biggest fallers – HLO, FAR, SDA, BKL, A2M and WPP

TODAY

• CIMIC (CIM) +0.80% CIMIC Group’s construction firm CPB Contractors as part of the Rail Infrastructure Alliance (RIA) has been awarded a $1 billion package of works by the Victorian Government in support of the $11 billion Metro Tunnel Project.
• Westpac (WBC) +1.16% Announced it will cease to own Ascalon Capital Managers following a deal with Generation Development Group Limited (GDG) under which GDG will invest in Ascalon and become its ultimate owner.

ECONOMIC NEWS

• Royal Commission in focus.

• Residential mortgage lending has risen in August while household debt has risen to 190.5% of household income, up from the last measured ratio of 189.6%, according to the latest data from the Reserve Bank and Australian Prudential Regulation Authority.
• Loans to owner-occupiers rose 0.48% to $1.09tn and lending to investors was up a slight 0.03% to $557.6bn.

BOND MARKETS

ASIAN MARKET NEWS

• Leading indicators for China’s economy show growth continued slowing in September amid the escalating trade war with the U.S.

• An index developed by London-based research firm World Economics, based on a survey of sales managers in China, tumbled this month to its lowest level in two years.
• Hong Kong house prices declined for the first time in 29 months in August.
• Industrial production in Japan grew at a slower pace than forecast in August while retail sales posted the fastest rise in eight months.

EUROPEAN AND US HEADLINES

• Elon Musk accused of fraud by SEC. May face ban from board of Tesla.
• British consumer confidence dipped lower in September amid uncertainty around Brexit.Boris Johnson unveils his ‘cunning plan’ for Brexit today in the media. A little late perhaps. Should have had a plan going into the referendum.
• Global M&A activity hits a record. US3.3 trillion of deals in 2018.
• The US is working to stop Chinese telecoms giant Huawei from building a major internet infrastructure project in Papua New Guinea.
• The WTO has downgraded global growth on the back of the trade wa bu 0.5% to 3.9% and 3.7% next year.
• Postman Pat creator has died.
• Wherever you are may your team win this weekend. Clocks go back next weekend. NSW public holiday Monday.

And finally……

A: I have the perfect son.
B: Does he smoke?
A: No, he doesn’t.
B: Does he drink whiskey?
A: No, he doesn’t.
B: Does he ever come home late?
A: No, he doesn’t.
B: I guess you really do have the perfect son. How old is he?
A: He will be six months old next Wednesday.

 

Clarence

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