You are currently browsing the Online Stockmarket Trading Update blog archives for March, 2010.
Gowing Bros. Limited (GOW) will go ex dividend on 31/3/2010. The current dividend payment is 5 cents and it is 100% franked. The record date is 8/4/2010 and the dividend will be paid on 23/4/2010. Based on the full year payment the dividend yield is 4.0%.
*Current Yield: 2.0% Franking: 100% DRP Discount: 0%
*Yield has been calculated on the closing price on the 26/3/2010. Current yield is based on the current dividend payment only.
Cromwell Group (CMW) will go ex dividend on 30/3/2010. The current dividend payment is 2 cents and it is 0% franked. The record date is 7/4/2010 and the dividend will be paid on 14/5/2010. Based on the full year payment the dividend yield is 9.9%.
*Current Yield: 2.6% Franking: 0% DRP Discount: Not Available
*Yield has been calculated on the closing price on the 26/3/2010. Current yield is based on the current dividend payment only.
Katana Capital (KAT) will go ex dividend on 29/3/2010. The current dividend payment is 1.5 cents and it is 100% franked. The record date is 6/4/2010 and the dividend will be paid on 19/4/2010. Based on the full year payment the dividend yield is 2.8%.
*Current Yield: 2.1% Franking: 100% DRP Discount: Not Available
*Yield has been calculated on the closing price on the 26/3/2010. Current yield is based on the current dividend payment only.
Presented by Michael Hevern
MDSFinancial
Click here to watch the presentation.
or
Click here to download the mp3 audio recording (1506Kb).
General Advice Only
************************************************
In this morning’s wrap…
SP500: up 0.1% (up 0.7% for week)
4Q GDP at 5.6%pa; Consumer Discretionary leads;
Energy Weighs; S&P500 19 Month Highs
NASDAQ: down 0.1% (up 0.7% for week)
20 Month High;
Dollar Index: Testing Highs
US$ Higher;
A$ down 90.45
FTSE: down 0.4% (up 1.1% for Week)
Financials Lead Higher; Europe Supports Greece;
CAC down 0.2% (1.5% for week)
Germany: down 0.2% (up 2.3% for Week)
Beneficiary of Weakening US dollar
CHINA: up 1.3% (down 0.3% for week)
China: Hu+ Ruling Today; PetroChina to Spend $US60bn O/S
Hang Seng up 1.3% (down 1.6% for week)
Oil: down 0.7% ($80) (down 0.6% for week)
Backs Off Key Resistance;
Naval Ship Sinks off South Korea
Gold: up 1.1% ($1092) (down 1.4% for week)
Commodities Lower;
USD Higher
SPI:Critical Level(s): 4850 to 5000 (up 1% for week)
SPI flat +2; End-of-Quarter this Week
Profit Taking Overseas
ASX News
Banks – 3 of 4 to sign off 1H results
TLS – senior management restructure to regain from NBN
Reports:
Mon: CSR – court appeal
Tues – Shale/Coal Seam Gas Briefing (3 days); MPO; BPT; Brisbane
Wed: ABS Retail Trade, Aurora EGM (AGO t/o)
Thu: Do not be fooled!!
ABS Int’l Trade in Goods/Services
ACCC – AMP/AXA ruling
RBA – Mar. Commodities Index
ASX – to open flat to lower
US & UK/Europe – continue to swing higher
The US markets gave up early gains to close almost unchanged in a repeat of Thursday’s performance. The Dow closed up 9 points at 10,850, the S&P500 was up 1 point at 1166 and the Nasdaq was down 2 points at 2395.
Gold and oil were mixed. Gold settled up $11.50 at $1104.20/oz and crude oil was down $0.53 at $80.00/bbl.
MMC Contrarian Limited (MMA ) has signed agreements to acquire Bupa Australia’s Life Insurance business (MBF Life) and Wealth Management business (ClearView Retirement Solutions) for $195 million. As part of the transaction, MMC has entered into an exclusive alliance with Bupa Australia to market its life insurance and wealth management products to Bupa Australia’s 2.9 million private health insurance customers for a period of 10 years. MMC’s acquisition of MBF Life and ClearView, together with associated costs, will be fully funded through existing cash resources of MMC of $69.2 million; a fully underwritten institutional placement conducted on Thursday 25 March 2010 to raise $61.7 million which is conditional on shareholder approval at a meeting on 30 April 2010 ; and a fully underwritten non-renounceable pro-rata entitlement offer to raise A$73.3 million.
MMC’s newly appointed Managing Director and CEO, Mr Simon Swanson, said: “The acquisition of Bupa Australia’s Australian life insurance and wealth management businesses represents a major opportunity to transform MMC into a significant, independent wealth management company in the Australian market place. The exclusive alliance with Bupa Australia represents a key growth platform for the medium term. We are delighted to be partnering with an organisation of Bupa’s capabilities and look forward to delivering financial products and services to Bupa’s customers”. The acquisition provides a compelling opportunity to create significant value for MMC shareholders. The acquisition price for MBF Life and ClearView represents an attractive discount of 22.6% to the assessed embedded value of $252 million (inclusive of the value of future franking credits) or an 8.5% discount to the assessed embedded value of $213 million (excluding the value of future franking credits). Synergies from the acquisition are likely to be substantial. The acquired businesses represent an ideal platform from which to grow the combined products and services of MBF Life, ClearView and ComCorp. In addition, MMC estimates that annual cost savings of approximately $6.5 million will be achieved progressively over the first year. MMC will remain debt-free post acquisition and will be in a strong capital position with approximately $36.5 million of surplus capital above regulatory requirements and residual cash of approximately $11.7 million, before settlement of any one-off integration and restructure costs associated with the acquisition.
The Australand Property Group (ALZ) today announced that it had exchanged contracts to purchase 351 – 357 Collins Street in Melbourne for $45 million with settlement expected to take place in early June of this year. The building (formerly known as Stock Exchange House), comprises approximately 22,000m2 of vacant office space, which is intended to be refurbished into A-grade office accommodation, leased up and retained by the Group. Completion of the proposed refurbishment is scheduled for the second half of 2011, when there is forecast to be limited competing quality office supply in the Melbourne CBD. The estimated value of the project on completion is expected to be approximately $145 million.
Australand’s Managing Director, Bob Johnston, said “This acquisition is in line with our strategy and is forecast to provide strong investment returns. The asset will be repositioned, leveraging the Group’s strong development skills, and will complement the existing high quality portfolio already held by the Group. Retaining the completed asset is consistent with the Group’s strategy to maintain recurrent earnings at 60 – 70% of total earnings.” Sean McMahon, head of Australand’s Commercial and Industrial division, said “The building is well positioned in the heart of the Melbourne CBD. It is already partly refurbished enabling an expedient turnaround of the space. This will allow us to capitalise on expected favourable leasing conditions. A-grade vacancies in late 2011 are forecast to drop as low as 2 – 4%, with very limited supply on the horizon. The project will benefit from our strong operating platform in Melbourne, having developed over $500 million of commercial projects since 2000, including our two office projects at Freshwater Place”, Mr. McMahon said.
Customers ATM (CUS), a member of Customers Limited Group, today announced a seven year agreement with Peregrine Corporation, to continue the provision of ATM services across their “On The Run” convenience sites. The agreement, which will see Customers ATM continue providing and operating ATMs in a 24- hour environment at the BP On The Run branded convenience sites, highlights Customers ATM’s position of strength in the marketplace. The 51 On The Run sites in Adelaide each house a variety of outlets such as BP service stations, C Coffee, Happy Wash car washes, Brumby’s Bakeries and Subway.
Customers ATM Managing Director, Tim Wildash, said the agreement was the second long-term partnership between the two companies. “Signing with a supplier for seven years is a significant commitment. On The Run and Peregrine Corporation’s choice to renew their partnership with us is testament to our consistently superior level of service and ATM network reliability,” Mr Wildash said. “We own and operate more than a fifth of all ATMs in Australia and more bank-branded terminals than other providers. Agreements with leading convenience retailers such as Peregrine further strengthen our market-leading position.” Peregrine Executive Director, Yasser Shahin, said he was looking forward to continuing working with Customers ATM. As Adelaide’s leading convenience retailer, we must ensure we have experienced, reliable suppliers so that we can focus on our core business,” Mr Shahin said. “Customers ATM has more than proven its reliability to us, demonstrating flexibility and fast, responsive service and support, 24 hours a day.” Bendigo Bank branding will be rolled out to the On The Run ATMs, as part of the bank’s commitment to making more ATMs available to its customers. Bendigo Bank is a long-term partner of Customers ATM, with Customers branding and operating ATMs on the bank’s behalf.
Customers ATM (CUS) operates an ATM network of more than 5600 machines throughout Australia contracted to merchants. Its ATMs are primarily branded Bank of Queensland, St George Bank, Arab Bank of Australia, and Bendigo and Adelaide Bank. Customers holds contracts with more than 4600 merchants, which offer exclusive rights to provide cash to consumers at popular convenience locations. Customers is recognised as a leading independent owner and deployer of ATMs in Australia. Peregrine Corporation is Adelaide’s leading convenience retailer. The company was formed in 1984 with a single service station in Woodville Park and grew into a convenience business themed around the On The Run umbrella brand with more than 50 sites in Adelaide. The sites house a range of convenience businesses, including BP service stations, Brumby’s Bakeries, Subway sandwich outlets and Happy Wash car washes. Peregrine Corporation also operates Smokemart and GiftBox stores throughout Australia.
The Rapid Trader development team has been hard at work. Rapid Trader has a new release due out early next week.
The two main updates are the addition of Top Companies and Fundamental Data information.
The Top Companies section includes near real-time calculations on the top twenty ASX securities based on a range of criteria, including:
• Net Gainers
• Net Losers
• Percent Gainers
• Percent Losers
• Top Volume
• Top Turnover
You can filter the results to show the entire ASX market, just shares or just warrants. The calculations are run every thirty seconds and are automatically updated on your screen. Just like in the watchlists, the actual quote data is streaming.
The Fundamental Page lists general fundamental information for each security.
This includes a business summary, a number of ratios and collated analyst research information, such as recommendations on buy/hold/sell.
These updates are a valuable addition to Rapid Trader’s features, set to enhance your online trading experience. But we’re still just getting started – the next round of updates will include course of trade details in the Market Depth and potentially a real-time chart. Both features are something you have been asking for, and we’ve been looking forward to releasing for some time.
I once again must express my appreciation of the IT teams we have working for us. Our goal has been to drive the next generation in online trading software and they have been working hard to deliver this.
As always if you have any suggestions or recommendations on Rapid Trader please feel free to e-mail us at info@traderdealer.com.au
Well that’s it for me until next time!
Craig Foley
Chief Information Officer
Presented by Michael Hevern
MDSFinancial
Click here to watch the presentation.
or
Click here to download the mp3 audio recording (1117Kb).
General Advice Only
***********************************************
In this morning’s wrap…
SP500 down 0.2%
Energy Down; US Financials Hold; Dollar Soars Again;
Commodities Stocks Weigh
NASDAQ down 0.1%
Fed: Rates to Remain Low;
Off 21 Month Highs;
Dollar Index: Breakout of 80 Level
US$ Higher;
A$ up 90.81
FTSE: up 0.9% – 21 Months Highs – Above Resistance
UK: Highest Since Jun’08; Fitch Downgrades Portugal
Greece Issues; DAX up 1.6% & CAC up 1.3%
Germany: up 1.6% (up 66% since Mar’09)
Biggest Beneficiary of Weakening Euro
CHINA: up 1%
China: Hu Trials Verdict Monday
Hang Seng down 1.1%
Oil: down 0.1% ($80)
Holds Below Resistance
Gold: up 0.4% ($1091)
Commodities Lower;
Dollar Higher
SPI Futures up 2 flat (Off Resistance)
RBA: Australia’s Outlook “considerably brighter”
Day After Option Expiry
ASX News
RIO – Closed Court Trial ends; Hu verdict Monday
ACCC – roadblock to BHP/RIO JV ($10bn savings)
WPL – says no to Santos $15bn t/o rumours
Volume and Price Spikes – EWC and QMN
RBA – says Big 4 are squeezing small-business
Energy and Materials to see profit taking
ASX – to open flat; Day after Options expiry
US & UK – negative
