Posts Tagged ‘economy’

Wednesday, 19th August 2009 Morning Wrap

Wednesday, August 19th, 2009

Presented by Michael Hevern
MDSFinancial

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or

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General Advice Only
************************************************
In this morning s wrap

DOW: up 1% (near 10 Month Highs)
Banks, Energy & Commodities All Recover;
Home Depot/Target/Saks Cost Cutting

NASDAQ: up 1.3%
HP: Profit & Income – 19%;Sales -2%; PCs Stablizing
Leaders Recover

FTSE: up 1.5%
July Inflation Stays at 1.8%; GS: Says Buy HSBC
DAX up 2.0% & CAC up 2.1%

NIKKEI: up 0.2% (off 10 Month Highs)
Upcoming Elections;
Hang Seng up 0.8%;

CHINA: up 1.4%
PetroChina Signs $50bn LNG Deal
Volatility increasing

Oil: up 3.7% ($70)
Bounces

Gold: up 0.5% ($938)
Commodities Higher;
USD Lower

SPI: Critical Level(s): 4250 to 4450
SPI up 23 (0.5%)
$50bn LNG Deal (Online 2015)

ASX News

MQG to sell Mgt rights for MaP for $250m
AMC FY profit down 18%; Buys RIO s Alcan Packing – $2.44bn; Rights issue 4 for 9 at $4.30 $1.16bn
JHX 1Q09 X tax/asbestos profits up 4%; US Housing getting near the bottom ;
QAN FY Net Inc down 88%; Loss in 2H09 first in 6 yrs
RBA minutes suggest consumers key to next rate move
BLY 1H09 profit down 50%; Rev down 53%; $635m capital raising (1 for 1 at 27cents)

Reports: W: BLD, BTA, ORG, QAN, CEY, AMC, CSL, ILU, TRS, WPL;
Th: AGL, AMP, ASX, BXB, MIG, QBE, DOW, RIO, MCR;
F: APN, CGF, IAG, WBC, PBG, BBG, TEL, WES

Estimates:

BXB - expect 20% fall in profit
DOW - expect 10% profit improvement
QAN – expect sharp drop in EPS
WPL & STO - focus will be on LNG divisions

Materials & Energy stocks to see recovery
Banks to see recovery
ASX to open recovery
US & UK Hold Levels

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Tuesday, 18th August 2009 Morning Wrap

Tuesday, August 18th, 2009

Presented by Michael Hevern
MDSFinancial

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or

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General Advice Only
************************************************
In this morning s wrap

DOW: down 2.0% ( off 10 Month Highs)
Banks, Energy & Commodities All Lower;
Weak Data

NASDAQ: down 2.7%
Broad Selling

FTSE: down 1.5%
Europe Recovering From Recession; Miners & Financials Lead
DAX down 2.0% & CAC down 2.1%

NIKKEI: down 3.1% (off 10 Month Highs)
Upcoming Elections & Poor Data; Companies Cut Investment;
Hang Seng down 3.6%;

CHINA: down 5.8%
China Banks Reducing Lending
Volatility increasing

Oil: down 1.1% ($67)
Breaks Lower

Gold: down 1.5% ($935)
Commodities Lower;
USD Higher

SPI: Critical Level(s): 4250 to 4450
SPI down 45 (-1%)

ASX News
BLY 1H09 profit down 50%; Rev down 53%; $635m capital raising (1 for 1 at 27cents)
FMG deal to provide discounted iron ore for $7.2bn in funding from China Investment
BSL FY loss of $66m; More pain in next 6 months
OST FY profit down 6%
NCM FY profit up 85% (gold prices)
WDC may raise $3bn, reports this month
AOE Shell makes failed takeover ($3bn)
RBA minutes released today

Reports: T: ISF, OST, UGL, JHX (1Q); W: BLD,ORG, QAN, CEY, AMC, CSL, ILU, WPL;
Th: AGL, AMP, ASX, BXB, MIG, QBE, DOW, RIO, MCR; F: APN, CGF, IAG, WBC, PBG, BBG, TEL, WES

Estimates:
BXB - expect 20% fall in profits
UGL - expect 10-20% profit improvement
DOW - expect 10% profit improvement
QAN - expect sharp drop in EP
WPL & STO - focus will be on LNG divisions

Materials & Energy stocks to see profit taking
Banks to see profit taking
ASX to open lower
US & UK negative closes

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Thursday, 30 July 2009 Morning Wrap

Thursday, July 30th, 2009

Presented by Michael Hevern
MDSFinancial

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or

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General Advice Only
************************************************
In this morning s wrap

DOW: down 0.3%
Commodities Weigh;
CAT 2Q Profits Beat Forecasts

NASDAQ: down 0.4%
Microsoft by 12% Stake of Yahoo Search;

FTSE: down 1.3%
Miners & Energy Weigh;
DAX up 1.8% & CAC up 1.1%

NIKKEI: up 0.3%
China s Banks to Hit Breaks;China PPI Tonight

Hang Seng down 2.4%
CHINA: down 4.5%

Oil: down 6.8% ($63)
Profit Taking; CFTC Reform;Demand Falling (BP)

Gold: down 0.8% ($927) Two Week Lows
Commodities Lower;
USD Higher

SPI: Critical Level(s): 3950 to 4150
SPI up 3 (0.1%)
Commodities Down

ASX News

MQG sees rising profits FY10 +19%; $4bn surplus capital
WES Coles turnaround on track
TSE US recession -> $168m impairment charge
GUD profit down 6.9% – still in strong position
Reports: Th: AUN,HWI,AXA(1H),LGL (Q2); F: PBG(1H) ORG(Q4),ERA(1H)
Materials & Energy stocks to see further profit taking
Banks to hold
ASX to open lower
US & UK momentum falling

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Thursday, 9th July 2009 Morning Wrap

Thursday, July 9th, 2009

Presented by Michael Hevern
MDSFinancial

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or

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General Advice Only
************************************************
In this morning s wrap

DOW: up 0.16%
IMF: Growth -1.4% 2009; Expand +2.5% 2010;
US:No New Stimulus Planned

NASDAQ: up 0.1%
Google: Chrome OS vs
Microsoft: Windows 7

FTSE: Down 1.1% (10 Week Lows)
Energy & Banks Weigh;
DAX down 0.6% & CAC down 1.2%

NIKKEI: down 2.3%
Japan: Yen 4 Month High; Machine Orders Fall Again (3 mths)
Hang Seng down 0.8%

Oil: Down 4.4% ($60)
CFTC: Tighter Controls Over Speculators;
Double Top Target#1

Gold: down 1.7% ($906) 2 Month Lows
Commodities Lower;
USD Lower

SPI down 4 (0.1%)
SPI: Critical Level(s): 3850 to 3600

ASX News
Jobs – expect 5.9% unemployment (vs 5.6%)
RIO missing 4 negotiators in China
CSR split delay (>2 months – $1.2bn debt; $280m loss)
AMC close finalising $1.2bn capital raising
CMJ Stokes Stake (15%) – $180m raid (Foxtel Jewel)
OSH/STO Korea Gas (World #1 LNG buyer) & Mitsubishi Corp to jointly buy stakes in LNG plants (A/C)
Materials & Energy stocks to weigh;
Banks to weigh
ASX to open lower;
US & UK UK – negative lead; US flat;

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Thursday, 2nd July 2009 Morning Wrap

Thursday, July 2nd, 2009

Presented by Michael Hevern
MDSFinancial

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or

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General Advice Only
************************************************
In this morning s wrap

DOW: up 0.7%
Positive Manufacturing Reoirts;
Schiller Home Price Index Down 18%

NASDAQ: up 0.6%
Chipmakers Lead: Intel up 3%

FTSE: up 2.1%
Miners Lead Recovery;
DAX up 2% & CAC up 2.5%

NIKKEI: down 0.1%
Japan: Toyota Fitch Rating Cut A+ (Annual $5.7bn Loss)
WTO Cuts Trade Forecasts

Oil: Down 1% ($69)
Profit Taking;
Possible Double Top Setup

Gold: up 1.1% ($944) (up 1% FY09)
Commodities Higher;
USD Lower

SPI up 16 (0.4%)
SPI: Critical Level(s): 3850 to 4050

ASX News
BOQ to suffer from Storm Financial litigation
SUN New CEO Patrick Snowball breakup?
China to Accept Iron Ore at Asian Prices (33% disc); watch BHP/RIO/FMG
PMI shows 4 consecutive months of expansion
Materials & Energy stocks to see recovery;
Banks to hold
ASX to open higher;
US & UK positive

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Discount retailers cashing in

Monday, May 18th, 2009

Discount department stores are emerging as winners from the GFC, as shoppers seek out cheaper shopping alternatives and look for better value when spending their government stimulus package payments.

Wesfarmers is seeing the benefits in their Kmart and Target sales figures, which are outperforming the more upmarket stores like Myer and David Jones. Woolworths Big W stores have also seen positive growth in the last quarter.

The trend is also being seen in the US, where Wal-Mart has reported a growing proportion of its demographic are shoppers on higher incomes, and 17% of the recent growth in store traffic is coming from new customers. The Wal-Mart chief believes the economic downturn has brought about a favourable change in consumer attitudes to discount stores, and in the types of products they are likely to buy.

Stocks for your watchlist:

  • David Jones: DJS.AX (ASX)
  • Wal-Mart Stores: WMT.N (NYSE)
  • Wesfarmers: WES.AX (ASX)
  • Woolworths: WOW.AX (ASX)

For more info:

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Thursday, 14th May 2009 MDS Morning Wrap

Thursday, May 14th, 2009

Presented by Michael Hevern
MDSFinancial

Click here to watch the presentation.

or

Click here to download the mp3 audio recording (960Kb).

General Advice Only

*************************************************
In this morning s wrap

DOW: -2.7%
April Retail Sales down 0.4%;
Rally Loses Momentum

NASDAQ: down 3%
Apple Down 10% in a Week

FTSE: down 2.1%
Financials & Miners Weigh; Heavy Profit Taking
DAX down 2.6% & CAC down 2.1%

NIKKEI: up 0.5%
Sony: Sales -14%;Cuts 1600 Jobs;$US1.2bn Restructure
Hang Seng down 0.6%; China Exports & Imports -23%;

Oil: down 1.4% ($58)
Off Six Month Highs;
Though US Inventories Down

Gold: up 0.3% ($929)
Commodities Lower;
USD Higher

SPI down 86 (-2.2%)
SPI: Critical Levels: 4000 & 3800
Support Broken

ASX News
RIO rights issue?
NAB UK Clydesdale Bank rating cut (A1)
CBA 3Q09 cash $1.15bn; cuts Divy 25%; Cash ROE 15%
STO raises $3bn
CSR Annual Loss $325m; EBIT -17%; Sales up 8%
Coal Seam Gas stocks benefited most post Budget Night
Materials, Financials to weigh
Golds and Energy to weigh
ASX to open lower; US reality bites

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CBA earns $1bn, slashes dividend

Wednesday, May 13th, 2009

In disappointing news for shareholders, the CBA plans to slash its dividend by 25% to $1.15 a share, in an effort to protect itself from the impact of the weakened economy, rising unemployment and a slowdown in credit demand.

In a trading update released today, the Commonwealth Bank announced cash earnings for the March quarter were $1.15 billion, creating a cash return on equity of more than 15%.

Optimistically, Commbank Chief Executive Ralph Norris said that while the economic conditions remained challenging, the global financial markets were no longer in freefall.

The dividend cut follows similar cuts made recently by the ANZ, NAB and Westpac.


ASX Code: CBA
Chart from The Bourse

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Wednesday, 13th May 2009 MDS Morning Wrap

Wednesday, May 13th, 2009

Presented by Michael Hevern
MDSFinancial

Click here to watch the presentation.

or

Click here to download the mp3 audio recording (1211Kb).

General Advice Only

*************************************************
In this morning s wrap

DOW: up 0.6%
Fed says Banks are Healthy;
Trade Deficit Better-than-Expected

NASDAQ: down 0.9%
Intel (#1 Chip Maker) 1Q09 Better
But Profit still down 55%

FTSE: down 0.2%
Financials & Miners Weigh; Unemployment at 2.2m
DAX down 0.3% & CAC down 0.5%

NIKKEI: down 1.6%
Nissan to Cut CAPEX;
Toyota Cuts Production by 28% in 2009

Oil: up 0.6% ($59)
Six Month Highs

Gold: up 1.1% ($922)
Commodities Higher;
USD Lower

SPI up 20 (0.5%)
SPI: Critical Levels: 4000 & 3800
Resistance Becomes Support?

ASX News
Budget $22bn spend on infrastructure $58bn deficit (9000/person); Keeps AAA Rating
Inflation 1.75%; Unemployment 8.5%
FXJ F/cast 27% fall in profits (ad revenue)
SGP to raise $1.5bn (`20% disc ~$2.60)
AWB downgrades 1H09 profit F/cast (Brazil problems)
FMG say NO to Shanghai listing speculation
OSH says profits lower if Oil price subdued
Materials, Financials to recover
Golds and Energy provide support
ASX to open higher; US mixed

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Tuesday, 28th April 2009 MDS Morning Wrap

Tuesday, April 28th, 2009

Presented by Michael Hevern
MDSFinancial

Click here to watch the presentation.

or

Click here to download the mp3 audio recording (1007Kb).

General Advice Only

*************************************************
In this morning s wrap

DOW: down 0.6%
March Qtr heading for 7th Qtr of EPS Declines;
Flu Fears see Travel Stocks Fall

NASDAQ: down 0.9%
Qualcomm: #1 Mobile-phone chip maker
says 3Q Sales at $US2.4bn

FTSE: up 0.3%
Airlines Weigh ;
DAX up 0.4% & CAC flat -0.1%

NIKKEI: up 0.2%
Sharp: #1 LCD Display maker; Sees Profits This Year
Hang Seng down 2.7%

Oil: down 1.3% – At $50
Swine Flu Concerns

Gold: down 0.7% ($907)
Commodities Lower;
USD Higher

SPI flat (+0.1%)
SPI: Critical Levels: 3800 & 3600
Swine Flu at Aussie Doorstep

ASX News

NAB 1H09 profit -0.9% to $2.7bn; eps -9.4%;divy 73c (cut 25%)
ALS – $175m Biolab sale; Helps clear $150m debt refinance
Materials to weigh
Financials to be weigh ahead of earnings updates
Golds to support
ASX to open flat; US lower on Flu

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