The ASX 200 rose 24 points to 6707 in a lacklustre cautious end to the week that was. For the record, the ASX 200 fell 2%. US futures up 36 points. A mixed day for the major stocks with banks digesting the RBNZ moves leaving CBA better by 0.5% whilst the rest flailed in its wake. WBC down 0.25% and ANZ down 0.45%. In other financials, MQG rose yet again by 1.15% together with some limited gains in insurers, IAG up 1.55% and MPL up 2.2%. Healthcare was a stand-out for a change, CSL rose 1.2% and RHC up 1.3% and SHL up 1.5%. Consumer stocks positive with WOW up 0.9%. Miners were weaker with BHP off 0.1% and FMG rejecting recent highs and falling 0.6%. Energy stocks mixed as OPEC ends in a NATO like meeting. More to come from OPEC plus but production cuts look more than some anticipated at 500k barrels a day. WPL up 0.45%.. In corporate news, Mike Kane’s tenure at BLD looks tenuous at best, after the company came clean on transparency issues with its North American windows business. Not a great look with a clear and present danger to earnings and reputation. The stock dropped another 6.3% today. In other corporate news, the years biggest IPO hit the market in TYR, a fintech, having a great debut up 22.9% although off its highs. Nothing economically, the dollar was steady, and the 10-year yield up to 1.12%. Asian markets better ahead of more fun and games in HK this weekend. China up 0.2% and Japan up 0.8% on yet more stimulus.

• ASX 200 up 24 to 6707.
• High 6712 Low 6682. Volumes below average.
• Healthcare firms. Bond proxies and defensives better.
• Banks mixed. Miners weak.
• BLD sees clear and present danger.
• TYR soars. Aramco raises US$25.6bn.
• OPEC could cut by 500k barrels a day. Not that anyone will comply.
• 10-year bond yields rally to 1.12%.
• AUD firms to 68.41c
• US futures up 36 points.
• Aussie gold steady at $2156
• Bitcoin big rally to US$7380
• Asian markets firm with Japan up 0.3% on yet more stimulus and China up 0.2%. Hong Kong faces a testing weekend again.

STOCKS                                               

• BLD -6.30% transparency an issue.
• BUB -6.54% competes capital raising.
• MP1 +5.47% completes capital raise.
• SBM -2.33% CEO change. Shuffles the decks.
• OPT 2.64 completes raising.
• SYD +1.32% investor day presentation.
• ISX -suspended still but warns that growth softening.
• OCL +10.00% finishes strongly. Low volume.
• AVH 3.42% nice bounce.
• MSB +2.15% runs out of early puff again.
• APT +0.50% reopens SPP backdated to June.
• CAT -5.85% loses a life.
• AFG -4.40% mortgage brokers under pressure.
• PPK -2.32% losing its mojo.
• JIN -2.16% no cherries today again.
• ALU +0.14% impact of trade war bites.
• SCG +0.26% buys 50% of Perth shopping centre.
• WHA – agreement with Chemist Warehouse.
• SOL +0.93% AGM defends cross shareholding.,
• NAM -1.54% cuts jobs and forecasts.
• Speculative stock of the day: Tyro Payments (TYR)+22.91% Great debut for this fintech. 3DA also does well up 100%
• Biggest Risers: OCL, MP1, HSN, MEZ, CAR and BPT
• Biggest Falls: REG, BUB, BLD, PME, AHY and AQG.

TODAY

• Altium (ALU) +0.14% Reaffirms guidance at AGM, points to ‘impacted’ growth on the back of Google’s algorithmic changes and the trade war. Top-line guidance for this fiscal year will be up to $US215m, EBITDA margin is expected to be between 37 and 38% excluding the impact of the new leasing standard.
• nib Group (NHF) +2.14% Launches a joint venture with US-based Cigna to create a specialist healthcare data science & services company to cut down on hospitalisations through illnesses & disease prevention. Both companies will contribute $10m each to the JV.
• Boral (BLD) -6.30% Financial irregularities in its North American Windows business are expected to result in a one-off impact on EBITDA between US$20m-US$30m. CEO & Managing Director, Mike Kane said that the Company is undertaking a comprehensive and urgent investigation of the matter.
• Woolworths (WOW) +0.89% Appoints Peter Hearl as Chairman-elect of food & drinks business Endeavour Group ahead of 2020 spinoff. The decision whether to demerge Endeavour Group or undertake another value-accretive transaction will be made by the Woolworths Group board in 2020.
• Bubs Australia (BUB) -6.54% Completes $30m placement priced at $0.95 per share. The funds will be used to drive customer growth and product development.
• Blackmores (BKL) – 0.02% CFO Aaron Canning to transition into strategy role; Gunther Burghardt named as his replacement, effective January 6. Burghardt was most recently EVP, Operations at Treasury Wine Estates
• Sealink Travel Group (SLK) -0.98% Receives FIRB Approval to acquire Transit Systems Group.
• St Barbara (SBM) -2.33% Craig Jetson to replace Bob Vassie who is leaving the company after more than five years at the helm.
• Scentre Group (SCG) +0.26% acquires 50% stake in Garden City Booragoon, Perth for $570m.

ECONOMIC NEWS

• Nothing, waiting for the all-important US Non-Farm Payrolls tonight. Expectations of 180k.

BOND MARKET

ASIAN NEWS

• North Korea calls Trump a ‘dotard’ again. So much for that friendship.
• Reserve Bank of India (RBI) has surprised the market by keeping rates unchanged as inflation heats up after a sharp food price rise.

EUROPEAN AND US NEWS

• Aramco is officially the biggest IPO ever. It only sold 1.5% to investors. The other 98.5% still owned by the Saudi government. The only two other companies worth over US$1 trillion, are Apple and Microsoft. Aramco valued at US#1.7 trillion.
• Smith and Wesson feels lucky punk as gun demand heads higher. Raises FY outlook.
• EVs are not just a European thing it seems as GM and LG Chem have formed a JV to invest US42.3bn in a new US battery plant.
• Uber has disclosed almost 6,000 sexual assaults in the US.
• The World Bank has loaned $1bn to China. Why would they need $1bn? Hardly struggle street over there.
• For Bloomberg terminal users, if you type in MIKE, the results takes you straight to the Presidential hopefuls campaign site. If you type RUDI, you get a complete disaster. BERNIE and it goes through to KFC for an order.

How good is the RFS? Stay safe guys. You are all heroes.

And finally….

What do you call security guards working outside Samsung shops?
Guardians of the Galaxy.

ASIO: a government organization that actually listens to you!

How much coke has Charlie Sheen snorted? Enough to kill two and a half men.

When my girlfriend said she was leaving because of my obsession with The Monkees, I thought she was joking. And then I saw her face.

Clarence

XXX