- 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%
- 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
- 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.
- 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.
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.
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.