Posts Tagged ‘Trader Dealer’

Money Magazine’s Best of the Best goes to… Trader Dealer!

Monday, December 17th, 2012

Best of the Best 2013: Cheapest Non-Advisory Phone Brokers

At Trader Dealer we’ve always placed a high emphasis on good customer service, so we’re proud to have once again been named in Money Magazine’s Best of the Best list, in the Cheapest Non-Advisory Phone Brokers category.

We don’t charge extra fees for trades placed over the phone, and we have a trading desk staffed by friendly, qualified traders ready to place your orders or answer your questions.

So if you like the security of having a trader place orders on your behalf, or you’re caught away from your trading platform when a trade signal hits, call 1300 130 545 and we’ll be happy to help you out.

» More about brokerage rates
» More about phone trading with Trader Dealer

Trader Dealer - Best of the Best

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Portfolios and Market Analyser 7

Thursday, April 19th, 2012

Subscribers who trade through Trader Dealer have access to a fully integrated portfolio tool in the new Market Analyser 7. These clients can enjoy the benefits of real-time portfolio valuations, and dynamically updating profit and loss information.

And, in the not-too-distant future, this portfolio will be upgraded to the new IRESS Portfolio System (IPS), which will deliver extensive order management, reporting and tax analysis features.

Not a Trader Dealer Client?

Even if you don’t have a trading account, you can still create a portfolio in Market Analyser 7 which will display your current holdings.

However, the MA 7 portfolio is not designed to support transactions made through other brokers. Portfolio information from older versions of Market Analyser will therefore not be available in the new system.

If you have transaction data in your current platform, and wish to maintain this data beyond the switchover to Market Analyser 7 on April 30th, there are a couple of options available to you:

1. Download Your Transaction History

This Portfolio Data Export tool will allow you to download your transaction data into a spreadsheet. You can manually maintain this spreadsheet for ongoing use.

Click here to download the Portfolio Export Data Tool

2. Contact Your Broker

Talk to your broker about getting access to your portfolio records.

3. Create a Trader Dealer Account

As well as getting access to the Market Analyser 7 portfolio, there are many great benefits to trading with Trader Dealer:

* Cheap brokerage, and the ability to trade several times for the one low brokerage fee [more info...]
* Discounts on your Market Analyser fees [more info...]
* Contingent orders and phone orders at no extra cost, and…
* Access to the upcoming IRESS Portfolio System upgrade, coming soon!

Visit the Trader Dealer website for more information and to apply online, or call 1300 363 766.

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Market Analyser 7 Release Notes

Monday, March 26th, 2012

We’re regularly updating Market Analyser 7 to add new features and improve useability.

When a new build is released you will be prompted to update when you next open Market Analyser 7. We encourage you to keep up with the latest version, to ensure you’re getting the best possible experience.

Release 105

• Update to D2MX Charts to resolve an issue of displaying an invalid last bar, and improved the Chart Indicator Chart Captions feature to show more detail on Indicator Settings.
January 23, 2013

Release 103

• D2MX Charts should no longer show a weekend or pre-open duplicate bar from the prior day.
• Changed the handling of the drop-down auto-complete in the D2MX Chart symbol field. This resolves an issue where a code could be unintentionally requested as users type.
December 6, 2012

Release 101

• A number of bug fixes to improve program stability, based on feedback from our beta testing team.
September 14, 2012

Release 99

Our last few builds have been all about improving the stability and performance of the platform, with some bug fixes and a handy new feature thrown in for good measure.

Several bugs we’ve fixed here were reported by users, so our thanks to all those people who have helped get these issues resolved!

Highlights of this release:

• A new Auto-Complete Drop Down function on D2MX Charts will make it faster to bring up the charts for your most commonly-requested symbols.
D2MX Chart Auto-Complete
• Fixed several issues related to the chart data window
• Added new D2MX logo to installation and splash screen
• Fixed a range of chart issues raised by users, including bugs in the Text Indicator, Toolbar, Training Mode and Highlighting.
September 3, 2012

Release 93

• Small necessary changes to support updates to Java and Iress Trader.
August 2, 2012

Release 92

• Fixed an issue with detecting when Iress Trader was closed, so that our program would close correctly at the same time.
• Fixed a number of bugs related to errors when receiving the data necessary for Charts and Analyser Scanning, which were causing problems for some members.
• Fixed an issue with closing the Analyser Window while a scan was in progress.
• Further modifications to support various DPI settings that members use.
July 27, 2012

Release 87

• The program will now remove old files from the install location, if you have them.
• Fixed some issues with DPI scaling.
• Changed how the program shuts down, to assist members who have problems with the program still running after close.
• Fixed a number of smaller issues affecting specific members.
July 6, 2012

Release 84-86

For the last couple of weeks our focus has been on fixing user-reported bugs, rather than adding new features. When this process is done we’ll have a better, more robust platform to expand upon. Stay tuned…

• A new Settings Window has been included, which we’ll turn on later this week, once all members have upgraded. This feature includes the ability to change how many years of Chart Data to load.
• The program’s install directory has been moved from the Program Files folder to the user’s Local Folder area – so that users without Local Administrator rights can more easily run and update the software.
• Fixed a bug where the program wouldn’t start after install/update had finished.
• Fixed a bug with Java 1.6 detection so users shouldn’t receive as many notices about having to reinstall Java.
• Fixed a bug with horizontal trendlines not always displaying on charts.
• Fixed some bugs that were raised by members using through Bug Reporting tool.
July 2, 2012

Release 82-83

• Fixed minor problems in the Report Error Tool.
• Fixed a number of chart problems reported by clients.
• Changed how notification for expired accounts is done.
• Added a process to check for Java 1.6 on every startup.
• Fixed a bug where the Alt key wasn’t snapping Chart Indicators to significant points.
June 25, 2012

Release 81

• Quick release to fix issues some clients were having on startup.
June 14, 2012

Release 80

• Added a Calculator tool, accessible via the D2MX Trade Tools menu.
• Added a new Error Handling and Reporting program that will make it easier for users to report technical issues that they encounter.
• Users can now opt to ignore the Time Out setting when requesting Chart History. This helps users with sub-optimal internet connections to use the software. At this time, you need to contact Customer Care to assist with turning this feature on.
• Fixed a chart bug that was affecting the highlighting of Trendlines, Rectangles and Ellipse Indicators, when you hovered over them with your mouse cursor.
• The Chart system is now better at detecting attempts to load corrupt Saved Charts and Templates, and will display a message detailing the issue.
• Numerous other technical fixes and optimisations to make the program more stable.
June 13, 2012

Release 75

• Fixed issue with Chart Engine changes not being detected.
May 29, 2012

Release 74

• Program now detects freezing and previously unhandled errors. A new window will prompt the user to submit the issue to our Customer Care team to assist in resolving the problem.
• Fixed bug with plotted scripts that use images.
• Added Messaging Function to allow us to communicate urgent System Messages to all users.
• Fixed bug with Browser Windows not closing correctly, sometimes causing the program to hang.
• Made some window titles shorter, so that they’re more relevant and readable for users.
• Intraday charts now update their volume, as new trades take place.
• Weekly and Monthly charts now show updates as new trades take place.
May 28, 2012

Release 71

• Analyser Filter settings are now saved, and loaded when you re-open the Analyser window.
• Current Analyser Indicators are saved as part of the Persistent Settings, so each Analyser window will load the last Indicator and with the values you last specified.
• As you switch Indicators in the Analyser, the system saves the parameters you last changed and loads those changes again as you re-select that indicator.
• Real Time Data updates now include best Bid/Ask, Change, Percent Change and Value.
• Chart Captions are now updated with Range, Spread, Net Change and Percent Change values.
• Default Chart Caption is Last Price and Change. (Not yet possible to select other caption options.)
• Added extra white space to Chart Titles with updates, to clear old values that may have had longer strings.
May 14, 2012

Release 70

• Improved handling during startup: the program now checks if it’s already running, and if so displays a message then quits.
• The installer will now check if the program is running before copying files, and will prompt the user to close the program before continuing.
• Improved handling of Java: the installer will now check for Java 1.6 update 31 runtime. If a lower 1.6 update is installed, it will attempt to download 31 onto the client machine.
May 4, 2012

Release 69

• Fixed an issue in the Analyser window where filter settings weren’t fully visible if the user had an unusual DPI or font size setting in place.
• Fixed a bug where Chart Indicator images weren’t selectable, nor being loaded during the drawing.
• Modified the installer to better handle 64Bit systems.
• Fixed a bug with the program not reading the Install Location correctly, causing a Chart Image Toolbar error.
• Fixed an issue with the Enter Key not working when using web page-based windows.
• Improved management of timeout and other unhandled Iress Time Series errors.
• Added a popup message to display if loading of Time Series data fails, giving the user the option to try again or load other data.
• Added an Update Progress bar to display while the software update process runs.
• Local filename for a downloaded update is now randomised to correct any Operating System sharing conflicts.
May 2, 2012

Release 66

• Analyser scans now have a Filter Option to restrict symbols based on price and volume limits.
• Fixed a bug preventing intraday charts advancing to a new day, if opened before the new session starts.
• Improved error handling in Analyser Script Execution, to assist in cases of a script error stopping the scanning process.
• Modified the Analyser Progress Bar settings, to address an intermittent range error.
• D2MX Trade Tools task bar icon is now hidden when no Trade Tools windows are open.
• Fixed a bug in chart indicator polylines, preventing user interaction with the line via a mouse. This fixes the issue of the SAR indicator not being clickable.
• Added Chart Title to the Custom Index indicator.
• Added error handling to prevent D2MX windows being deleted if a user is holding down the Shift key on startup. The program will play a sound if it detects the Shift key being held.
• The Analyser window now repaints during scans, to ensure screen updates will be shown while a scan is in progress.
April 23, 2012

Release 64

• Fixed a bug in intraday charts, where updates were being skipped if the volume was zero. This was affecting FX and some Index intraday charts.
April 16, 2012

Release 63

• Added the ability to scroll through Watchlists
• Improved method of handling Java settings, to give more useful information on the version of Java installed.
• Adjusted the IRESS Loading timeout setting.
April 2, 2012

Release 62

• Fixed an issue in the Upgrade Tool preventing some watchlist data from older versions being imported into Market Analyser 7.
• Added a facility to delete all Trendlines, Rectangles and Ellipses on a D2MX Chart. These options are now accessible via the right click menu.
• Rearranged the D2MX Chart right click menu for improved ease of use.
• Fixed a bug with D2MX Chart Indicators, which was causing charts with indicators to stop drawing if another indicator had encountered an error in calculations.

Release 61

• Added the ‘Always Save’ option to the right click menu on D2MX Charts.
• Improved handling of how the system checks for a valid installation of Java.
• Tabs on D2MX Chart Templates were hard coded to use a small, hard-to-read font. This has been changed to use the Windows Standard Font Size.
• The system will now detect if a user’s Microsoft XML 4 installation is corrupt, and prompt with repair instructions. This resolves a problem with watchlists not populating D2MX Chart and Analyser screens.

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Market Analyser 7 Video Tutorial: Derivatives

Wednesday, March 21st, 2012

Market Analyser 7 has a comprehensive range of tools for derivatives traders.

Watch this short video to learn about the Options Monitor, Options Valuation and Warrant Monitor screens, and how to easily sort and manage the data they provide.

Or click here to download a high resolution video

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Managing Trading Stress

Friday, March 16th, 2012

Stress is a natural part of trading because there is always an uncertain outcome from every trade that you enter. The unknown is stressful, and it can be frustrating or even infuriating when things do not go your way. You may feel sad, happy, bored or any of a wide range of emotions while trading and it’s necessary to work with these emotions and not allow any of them to impact on your trading. One of the easiest strategies is to take a break from your screen, walk away when you become aware that you are tensing up, or any emotion is kicking in. If you trade intraday take regular breaks, and if you are an end of day trader, stop watching the markets during the day.

Constantly watching the market as an end of day trader is non productive and causes more stress than it removes, so stop it. You will get a lot more work done and you may be able to free up some time to dedicate to your trading preparation as well.

Preparation can reduce stress

Solid preparation is essential every trading day, but it has another benefit as well. It can allow you to reduce the stress that occurs by preparing and rehearsing the possible outcomes for today’s trades. A mental rehearsal means in some ways you have already lived through the experience, regardless of what the market throws at you.

Prepare for movement in both directions. If the market trends higher, what will you do? And if the market trends lower, how will you react to that? Also consider what you will do if the market is in consolidation, i.e. moves up and down without really going anywhere. This happens on most days so don’t assume the market will trend every day. By preparing in this way you are less likely to become stressed, because you are ready for anything the market is likely to deliver.

Exercise to release stress

Exercise is a key to releasing stress from your body and it is something you should find time for in your daily routine. Stress triggers your body to release adrenalin which is the fuel used for fight or flight. Trading can be stressful, triggering the production of adrenaline, but when you’re sitting in front of a computer screen you don’t use up this adrenalin, it remains in your body.

Regular exercise will ensure it is burnt off and will allow you to return to a calm relaxed state more easily. You could incorporate a gym workout, a walk, a run or a yoga session to allow your body the time to burn off the
adrenalin released by your body in a high stress situation.

Regular exercise can also provide you with more energy as your cardio vascular system functions more efficiently. Relaxation after exercise is also incredibly beneficial for your wellbeing – mentally, physically and even spiritually.

Social interaction for your own good

Social interaction can allow you to release any emotional charge that may have built up when trading. It’s wonderful to be able to share your successes with someone else and at times it’s useful to have someone to talk with to process some of the ideas that are running through your head. This can help you to find a solution to any challenges you may be facing. Full time trading can be a lonely occupation, because often you are sitting alone in front of a computer screen. In a work environment you typically have social interaction on a regular basis – even if you have little in common with your co workers, this still meets a human need.

Ensure you make time to meet with other people as part of your daily routine. If possible getting to know other traders in your local area is a great idea. Interacting with other traders gives you a chance to swap ideas and discuss trading problems with someone else that has market experience.

Continue to learn

Remember that learning to trade is a journey of 1000 miles and it begins with your first trade. Every trade is an opportunity to learn something new. Embrace the mistakes that you make and learn from them. If you can avoid just one mistake in the future it can make a huge difference to your trading results and reduce your trading stress in the future.

As your knowledge and experience improves you will be better positioned to cope with the ups and downs of trading. You also have the opportunity to develop your skills and the ability to cope with stress. Enjoy the ride, because the rewards are worth it.

Jeff Cartridge
Education Manager

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Market Analyser 7 Video: Getting Started

Thursday, March 8th, 2012

Get familiar with the layout and look of the new Market Analyser 7.

In this preview we demonstrate how easy it is to get quotes, bring up watchlists, and right click to pick up additional information on a company you’re interested in.

It’s easy to find the information you need, and customise your windows and layout to suit your preferences.

Watch this video to see for yourself!

Or click here to download a high resolution video

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Market Analyser 7: FAQs

Thursday, March 8th, 2012

If you have a question about Market Analyser 7 we haven’t answered call us on 1300 363 766 or email customercare@mdsfinancial.com.au.

>> What can I expect in Market Analyser 7
>> Why the change?
>> Who is D2MX?
>> When I upgrade to Market Analyser 7 can I keep my saved charts and watchlists?
>> What happens to my portfolio data?
>> Can I still run my current Market Analyser after the new version is released?
>> Can I use Market Analyser 7 simultaneously with other market data platforms?
>> Will Market Analyser 7 work on my Mac?

What can I expect in Market Analyser 7

You’ll find the look of Market Analyser 7 to be quite a change from what you’re used to, but it’s far and away a better platform in terms of stability, convenience, and data quality. And of course the analysis tools we love in Market Analyser are still there!

Including:
• Advanced charting and technical analysis tools
• The Analyser and Analyser Wizard for scanning the market for conditions meeting your specific trade criteria
• The Trading System for back testing your strategy before committing your money
• Pre-Alert Trading Indicators, the pattern recognition concept designed to help alert you to trading opportunities prior to conventional charting indicators, and
• The comprehensive array of market data views, company information and trading tools in the IRESS Trader platform

Why the change?

The current version of Market Analyser was built some time ago, and consequently has some back-end limitations which affect the reliability of the service and data. Essentially, it’s nearing the end of its shelf life.

Rather than start from scratch, we’ve teamed up with IRESS to integrate the best features of Market Analyser into the new IRESS platform, which utilises the latest technology and is the industry leader in Australian online trading systems.

We think this combination of technology and features offers users the very best of both worlds.

Who is D2MX?

D2MX Pty Ltd (D2MX) is our sister company, and like Trader Dealer, is a subsidiary of MDS Financial Group Ltd (ASX: MWS).

D2MX is Trader Dealer’s executing broker, and is an ASX Market Participant.

You’ll be seeing the name D2MX more often in the next few months, as our broking and software businesses become more closely aligned.

When I upgrade to Market Analyser 7 can I keep my saved charts and watchlists?

Yes, you can. Instructions on how to ensure your files are successfully upgraded to Market Analyser 7 are available here.

What happens to my portfolio data?

The portfolio in Market Analyser 7 is fully integrated with Trader Dealer trading accounts, with a new and exciting portfolio upgrade from IRESS coming in the near future.

However, if you’re not a Trader Dealer client you won’t have access to information in your Market Analyser 6 portfolio after April 30th, when MA 6 is switched off. If you would like to access your transaction records click here for more information and to download a data export tool.

Can I still run my current Market Analyser after the new version is released?

Market Analyser 7 will replace previous editions, however there will be a few weeks after launch when you can still use either version.

It may take a few days to get used to the new layout, but we’re confident that by the end of the transition period you’ll appreciate the improvements in speed and reliability in Market Analyser 7, as well as new features like the Trade Analysis and Market Map views.

And, we’ll have plenty of tutorials, webinars and support staff on hand to answer any questions you have along the way.

Can I use Market Analyser 7 simultaneously with other market data platforms?

In most circumstances, yes. However if your other platform is also an IRESS-based tool you may experience some issues, such as your screen locking up. This is due to have multiple connections to the IRESS system.

Will Market Analyser 7 work on my Mac?

To run the full platform Mac users need to install a Windows virtual environment, such as Parallels. With the full platform you’ll have access to the advanced charts, scanning and back testing tools from previous editions of Market Analyser.

However, you can access some parts of the platform from any internet-connected browser. These are the IRESS elements of Market Analyser 7, including the online trading tools, watchlists, market depth, company news and market activity screens.

Contact our support team for more information:
Phone: 1300 363 766
Email: customercare@mdsfinancial.com.au

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Market Analyser 7 Video Tutorial: Watchlists

Friday, February 24th, 2012

In this software tutorial we look at using watchlists in Market Analyser 7:

* Viewing pre-loaded system watchlists and creating watchlists of your own
* Adding share codes to a watchlist
* Finding company share codes using the Navigator tool
* Using the Market Activity screen to see the day’s biggest market movers, and filtering by sector to watch only the shares you’re interested in

Or click here to download a higher resolution video [size 6.37 MB]

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Which Stocks Are Ready To Pull Back?

Friday, November 18th, 2011

The overall Australian market had a spectacular run in October this year, up a staggering 15 percent from trough to peak on the ASX/S&P 200. In light of this you may wish to ask the experts what stocks are likely to pull back in the new term.

Market Analyser Can Help

You can use the Market Analyser software to identify keys stocks which are indicating that they’re due for a pull back.

Start by using the Watchlist Wizard tool to quickly create a watchlist of stocks from the ASX Top 300. (See below for instructions on using the Watchlist Wizard.)

We can then use the Prealerts scanner available to Market Analyser users to identify stocks that indicate there is “distribution” taking place, as stock is offloaded into the weaker hands.

Set up this scan through the Analyser Wizard, a handy tool within the Market Analyser allowing you to access the Prealerts indicators. For help with this tool check this post.

Market Analyser: Selecting the Analyser Tool

Yesterday’s scan produced the following list:

Market Analyser: Distribution Scan

As you can see there are a number of stocks that are currently undergoing distribution and could offer a potential sell signal. You may want to research these companies further before entering a trade.

The effectiveness of this scan depends on the current trend of the underlying stock, and we have illustrated this in the following three candidates which came up in a recent scan:

1) AWE Limited (AWE)
2) Metcash (MTS)
3) Spotless (SPT)

Note that you can also use volume as a confirmation of the sell signal, as you would be looking for volume to pick up as the share price falls.

AWE Limited (AWE)

AWE (formerly Australian Worldwide Exploration Limited) is engaged in exploration, development and production of oil, gas and condensate primarily in Australia and New Zealand. AWE concentrates on exploration and appraisal-type assets, in regions of proven prospectivity and where there is a high chance of commercial success.

Market Analyser Scan - AWE Limited

You can see that the Prealerts worked fabulously for AWE earlier in the year, giving four winning sell signals when the general trend of the stock was down. Now that the stock price is attempting to recover, the Prealerts offer a good signal of when the stock price is likely to take a pause. AWE is now at a key resistance level, but you would want the stock price to trade below the previous swing to confirm a sell signal.

Metcash (MTS)

Metcash Limited (formerly Metcash Trading) is a wholesale distribution and marketing company specialising in grocery, fresh produce, liquor, hardware and other fast-moving consumer goods. MTS has four business units: IGA Distribution, Campbells Wholesale, Australian Liquor Marketers and Mitre 10.

Market Analyser Scan - Metcash Limited

Metcash has been trading sideways for the past couple of months and the Prealerts signal has given a great signal that the share prices was due for a pull back. If you took this signal you would be up 4.5% in two days and would be watching carefully for price action around the $4.10 level which has been the key support level for the past couple of months.

Spotless Group (SPT)

Spotless Group Limited is engaged in the provision and outsourcing of labour-based services in Australia, NZ and USA. Their Retailer Services division provides hanger systems, labels and packaging to the garment manufacturing and retail industries worldwide. Facility Services provides facilities management and support services like cleaning, food, linen and garment services in Australia and NZ.

Market Analyser Scan - Spotless Group

Again the Prealert scan gave a great signal back in mid-May. There was another signal in early October which pre-empted a sideways move for 3 weeks, but now we have a signal in as the share price finds resistance at multi-year highs, and offers a low risk sell signal. Note that Spotless Group has confirmed it has received a $698 million takeover proposal (at $2.63 per share) from buyout firm Pacific Equity Partners, but says its directors view the bid as too low. The bid from PEP comes six months after Spotless rejected a $657 million offer from US buyout giant Blackstone Group.

Summary

Utilise the Prealerts features in Market Analyser to scan the markets for your specific trade selection criteria. You will save time and identify some likely pullback candidates.

By Michael Hevern
Investment Adviser

For Buy and Sell recommendations on ASX listed companies register for a FREE trial of MDS Financial Research.

Instructions – Using the Watchlist Wizard

1. In Market Analyser, open a watchlist window by selecting Menu > Watchlist
2. Click on the Watchlists item on the top menu bar, and select Watchlist Wizard.
3. In the Watchlist Wizard window click Next, select Australia from the Countries list, then select ASX Top 300 from the Available Watchlists list on the right of the window.
4. Click the Update button. Your new ASX Top 300 watchlist will now be available from your watchlist window.

Disclaimer: The information provided within this article is not an invitation to trade a specific stock, but is intended for educational purposes only.

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Stock Market Analysis: Markets Continue To Rise On Hope

Thursday, October 27th, 2011

* US stock markets recovered from early weakness to finish higher again. In the broader market the energy, materials and financial sectors all led the push higher.

* European stock markets ended mixed overnight, as investors chose caution ahead of a eurozone summit aimed at producing the “comprehensive” plan to address the eurozone sovereign debt crisis.

* Asian stock markets generally recovered from early weakness to finish higher. Traders were cautious ahead the key European Union summit.

* Commodities prices traded generally higher again, as Gold prices rose to $US1,723 and while crude-oil closed up around $US91.

The SPI Futures is trading around the key pivot level of 4200, ended up 0.6% (or 27 points) at 4,249. The key levels for our index today are 4200 to 4300.

Yesterday, Australian shares took the easing overseas markets in their stride early and traded into the green after the CPI data increased the likelihood of an interest rate cut next week. Surprisingly investors chose to ignore the overnight pessimism that European leaders are struggling to deliver on the promised “comprehensive plan” to resolve the eurozone sovereign debt crisis. 

 Analysts’ expectations of an official interest rate cut next week have increased after the release of weaker-than-expected core inflation data today.  According Credit Suisse, there is now a 100 percent market expectation of a 25 basis-point cut, with a 6 percent chance of a 50 basis-point rate cut.  This news help the market to hold on to earlier gain. CPI came in line with expectations at +0.6% q/q and +3.5% y/y.  However both the weighted median and trimmed mean measures were significantly below at +0.3% versus +0.6% expected. These underlyings’ are the numbers the RBA watch closely, so speculation of rate cuts has increased, with short-end AUD swaps around 10bp lower. 

Shares in the All Ordinaries (XAO) generally eased today, closing up 0.3% at 4301, the S&P/ASX 200 (XJO) closed up 0.4% at 4243.  The S&P ASX sectors were mixed with the top performer HealthCare sector closing up 1.0% having reversed some of the loses of yesterday.  The Consumer Discretionary sector finished up 0.7%, while Financials, Energy and Consumer Staples sectors all closed up over 0.4%.  The worst performers included Real Estate Trusts and Utilities sectors closing down over -0.7% and Info Tech stocks closed down -0.4%.

Aussie shares are expected to continue higher today, following the positive leads from the US and Europe, as investors who showed their optimism that the European Commission’s commitment to the bank rescue plan and the sovereign debt resolution is progressing.  We continue to have a busy week for AGMs and production reports, see below for details.  Equity options expire today.

See below for ASX listed companies in the news today.

U.S. Markets

US stock markets recovered from early weakness to finish higher again.  The Dow Jones Index and the S&P500 finished up around 1.0%, while the tech-heavy Nasdaq closed 0.5% higher. In the broader market the energy, materials and financial sectors all led the push higher.
Investors pushed stock prices higher on hope that European leaders’ commitment to preventing a eurozone banking crisis and reports that China would invest in European (EFSF) bailout fund which will help resolve the eurozone debt crisis.  The markets obviously want to push higher on the basis of US earnings, even without a clear resolution of the European situation. Traders remained skeptical about a quick resolution to the eurozone’s debt crisis, as reports surfaced that the size of the bailout fund may not be clear for several weeks.
In corporate news Boeing jumped 4.3%, after the aerospace giant beat third-quarter earnings estimates and raised its full-year outlook, though revenue was weaker than expected. Amazon’s disappointing earnings weighed on the tech sector and consumer-discretionary stocks. Amazon shares plunged -12% after the online retailer reported third-quarter  operating margins and earnings that missed expectations.
All ten company groups that make up the S&P index traded higher  with the Materials were up 1.9%, Energy sector were up 2.2%, Financials sector was up 1.8%, Technology sector was 0.4% , Industrials were up 0.7%,  while the Consumer Staples were up 1.0%.
The Dow Jones closed up 1.4% (or 162 points) at 11,869, the S&P 500 index closed up 1.1% (or  13 points) at 1,242, the Nasdaq ended up 0.5% (or 12 points)  at 2,650, and the smaller cap Russell 2000 was up 1.9%.

European Markets

European stock markets ended mixed overnight, as investors chose caution ahead of the eurozone summit aimed at producing the “comprehensive” plan to address the eurozone sovereign debt crisis. The Stoxx Europe 600 index gained 0.2%.
Across the region the bank shares recovered by around 1.0%. Finance ministers has given in principle agreement to a EUR144 billion bank recapitalisation, and to increase the EFSF, but have fallen short of providing details. The European Union leaders, meeting stumbled over over calls for bond holders to take bigger losses on Greek debt and over efforts to boost the size of the European Financial Stability Facility (EFSF) bailout fund. Analysts expect that the final report from the summit is unlikely to disclose a final haircut for Greek debt holders, but it may suggest a range between 50% and 60%. 
In London the FTSE 100 index rose 0.5%, as miners led the gains on the back of higher gold and silver prices.  In Germany the DAX-30 index fell -0.5%, while the French CAC-40 ended -0.2% lower.
 
In London the FTSE 100 index closed up 0.5% (or 28 points) 5,553, the German DAX was down -0.5% (or -31 points) at 6,016  while in France the CAC was down -0.2% (or -5 points)  at 3,170.

Asian Markets

Asian stock markets generally recovered from early weakness to finish higher. Traders were cautious ahead the key European Union summit.

In Japan the Nikkei Stock Index ended down -0.2%, as exporters were hurt by strength in the Japanese yen. In Hong Kong the Hang Seng Index ended up 0.5%, while in China the Shanghai Composite climbed 0.7%, as bank shares rose after Chinese Premier Wen Jiabao said that “macro-economic policy needs fine-tuning, and also that credit supply needs to be reasonable”.  Resource companies also showed strength after Aluminum Corp of China (Chalco) rose after posting a swing to third-quarter profit.

In China the SSE Composite was closed up 0.7% (or 18 points) at 2,428, while in Hong Kong the Hang Seng Index was up 0.5% (or 98 points)  at 19,066 and in Japan the Nikkei 225 Index was down -0.2% (or -14 points)  at 8,749, South Korean KOSPI was up 0.3% for the session, while the Indian market was up 0.2%.   

Commodities

The Dollar Index was lower at 76.19 on a higher Euro, while the Australian Dollar last traded lower at 1.0395. Commodities prices were generally higher again.

For the session the Benchmark crude NYMEX for December delivery was down -2.5% (or -$US2.36) settle at $US90.82.  Copper prices are seeking a support level as Copper for December delivery was up 2.0% (or 6.9 cents) at $US3.4885.  December gold was up 1.3% (or $US23.10) at $US1,723.50. 

 
ASX News Today

FMG – Fortescue Metals Group has borrowed $US1.5 billion, half a billion more than initially intended, to fund the iron ore miner’s expansion plans.

GCL – Gloucester Coal has increased first quarter coal sales by 17 percent y/y, due mainly to its acquisition of a new mine and increased share in another.

GOLD – sector was an outperformer after the gold prices pushed through to new monthly highs.  

IAG – Insurance Australia Group is on track to deliver on its full year financial guidance after an encouraging performance in the first quarter.

IRON_ORE – stocks weakened after iron ore spot prices slumped more than 7 percent in the deepest decline on record, due to thin demand from top importer China, where slower growth has impacted steel consumption.  Iron ore has lost almost 30 percent since early September.

RETAILERs – surged on the likelihood of a rate cut next month, as Credit Suisse, there is now a 100 percent market expectation of a 25 basis-point cut, with a 6 percent chance of a 50 basis-point rate cut.

TAH – Tabcorp the wagering and gaming firm says it expects to pay its $410 million wagering and betting licence fee to the Victorian government shortly.

TEL – Telecom NZ shareholders have overwhelmingly approved the splitting of the company in two.

TOL – Toll Holdings the freight transport company says conditions in the  retail and industrial sectors are likely to remain challenging, but expects strength in other parts of the economy to offset that weakness.

WOW – Woolworths has increased the size of a note issue to $700 million (up from $500m) after strong demand.


Local Corporate Reporting
Beach Energy (BPT)              Q1 2012 Activities Report 
Gloucester Coal (GCL)          Q1 2012 Results 
Mount Gibson Iron (MGX)    Q1 2012 Activities Report 
Macarthur Coal (MCC)          September Quarterly Report 
Northern Energy (NEC)          Full year 2011 Results 
Sandfire Resources (SFR)      Full year 2011 Results 
Sims Metals   (SGM)             Q1 2012 Activities Report 
Ex-dividend Date
CGO – CPT Global Limited
 
Market Summary

ASX – to open higher
US & UK/Europe –  higher

Commodities Stock Index  up 1.7%
Gold Stocks Index up 1.0%
Oil Stocks Index  up 2.2% 

US ADRs – Broadly Higher!!…

BHP up 2.0% & RIO up 8.1%; AWC 4.2%
ANZ up 1.1% & NAB up 2.2%
NEM  up 1.5%, JHX down -0.5%, NWS up 0.2%

By Michael Hevern
Head of Research

 
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