Well that was a really quiet, boring day until about 3pm,
when the AFR dropped the FMG bomb, reporting that they have asked their banks
to waive debt covenants for the next 12 months. The stock was promptly ripped
and lost 12% in the last hour of trade to close at $2.99. In the last 8 trading
days, FMG has had moves of -4.21%, -8.5%, -4.8%, 11.45%, 7.25%, -5.07%, 2.97%
and -13.83%.
Value traded today was 3,103,381,050 and the volume was 1,398,367,042
– a very quiet day in anticipation of the FOMC details due early tomorrow
morning.
The stats for today:
|
Sector
|
Up
|
Down
|
Unchanged
|
Total
|
|
Industrials
|
209
|
257
|
171
|
637
|
|
Resources
|
137
|
176
|
147
|
460
|
|
Energy
|
49
|
69
|
59
|
177
|
|
Total
|
395
|
502
|
377
|
1274
|
And the sector breakdown:
|
Security
|
Description
|
%
|
MktCap($)
|
|
XTJ
|
XJO 50 Telecoms
|
0.495
|
$
53,913,435,664.69
|
|
XUJ
|
XJO 55 Utilities
|
-
0.348
|
$
22,576,146,399.76
|
|
XXJ
|
XJO FinxREIT
|
-
0.354
|
$
367,649,205,894.20
|
|
XFJ
|
XJO 40 Financials
|
-
0.393
|
$
447,815,421,276.06
|
|
XDJ
|
XJO 25 Discretion
|
-
0.395
|
$
56,175,895,098.19
|
|
XEJ
|
XJO 10 Energy
|
-
0.402
|
$
86,068,147,125.14
|
|
XJO
|
S&P/ASX 200
|
-
0.502
|
$
1,130,679,664,712.70
|
|
XPJ
|
XJO A-REIT
|
-
0.596
|
$
80,166,215,381.87
|
|
XNJ
|
XJO 20 Industrial
|
-
0.645
|
$
79,193,287,499.90
|
|
XMJ
|
XJO 15 Materials
|
-
0.661
|
$
236,937,960,008.30
|
|
XSJ
|
XJO 30 Staples
|
-
0.712
|
$
90,059,339,581.65
|
|
XIJ
|
XJO 45 Info Tech
|
- 1.103
|
$
7,980,248,073.53
|
|
XHJ
|
XJO 35 HealthCare
|
- 1.410
|
$
49,959,783,985.46
|
The ASX200 Big Winners today were:
|
Security
|
Description
|
Last
|
+/-
|
%
|
|
PAN
|
Panoramic
Resources
|
52.5
|
3.5
|
7.1429
|
|
AQP
|
Aquarius
Platinum.
|
64.5
|
3.5
|
5.7377
|
|
PBG
|
Pacific
Brands
|
60
|
2.5
|
4.3478
|
|
LYC
|
Lynas
Corporation
|
88
|
3.5
|
4.142
|
|
BDR
|
Beadell Resource Ltd
|
80.5
|
2.5
|
3.2051
|
|
AQA
|
Aquila Resources
|
245
|
6
|
2.5105
|
|
CDD
|
Cardno Limited
|
724
|
17
|
2.4045
|
|
ILU
|
Iluka Resources
|
991
|
22
|
2.2704
|
|
NVT
|
Navitas Limited
|
440
|
9
|
2.0882
|
|
MTU
|
M2 Telecommunication
|
351
|
7
|
2.0349
|
And the Losers:
|
Security
|
Description
|
Last
|
+/-
|
%
|
|
ARI
|
Arrium
Ltd
|
50
|
-9
|
-15.2542
|
|
FMG
|
Fortescue
Metals Grp
|
299
|
-48
|
-13.8329
|
|
CPL
|
Coalspur
Mines Ltd
|
61
|
-5.5
|
-8.2707
|
|
IAU
|
Intrepid
Mines
|
29.5
|
-2
|
-6.3492
|
|
GBG
|
Gindalbie
Metals Ltd
|
32
|
-2
|
-5.8824
|
|
AGO
|
Atlas
Iron Limited
|
147.5
|
-9
|
-5.7508
|
|
TSE
|
Transfield
Services
|
170.5
|
-10
|
-5.5402
|
|
IRE
|
IRESS Limited
|
744
|
-38
|
-4.8593
|
|
MBN
|
Mirabela Nickel Ltd
|
30.5
|
-1.5
|
-4.6875
|
|
MGX
|
Mount Gibson Iron
|
81.5
|
-3.5
|
-4.1176
|
|
GRY
|
Gryphon Minerals Ltd
|
73.5
|
-3
|
-3.9216
|
|
DML
|
Discovery Metals Ltd
|
111
|
-4.5
|
-3.8961
|
|
MAH
|
Macmahon Holdings
|
51
|
-2
|
-3.7736
|
|
IGR
|
Integra Mining Ltd.
|
52
|
-2
|
-3.7037
|
|
OGC
|
OceanaGold Corp.
|
265
|
-10
|
-3.6364
|
|
SAR
|
Saracen Mineral
|
41.5
|
-1.5
|
-3.4884
|
|
SMX
|
SMS Management.
|
648
|
-23
|
-3.4277
|
|
CDU
|
Cudeco Limited
|
433
|
-15
|
-3.3482
|
|
PRU
|
Perseus Mining Ltd
|
269
|
-9
|
-3.2374
|
|
SHL
|
Sonic Healthcare
|
1333
|
-44
|
-3.1954
|
|
BRU
|
Buru Energy
|
267
|
-8
|
-2.9091
|
|
SIP
|
Sigma Pharmaceutical
|
67
|
-2
|
-2.8986
|
|
MML
|
Medusa Mining Ltd
|
542
|
-16
|
-2.8674
|
|
SXY
|
Senex Energy Limited
|
71
|
-2
|
-2.7397
|
|
TEN
|
Ten Network Holdings
|
36
|
-1
|
-2.7027
|
|
BTU
|
Bathurst Resources
|
36
|
-1
|
-2.7027
|
|
BSL
|
BlueScope Steel Ltd
|
38
|
-1
|
-2.5641
|
|
TRS
|
The Reject Shop
|
1225
|
-30
|
-2.3904
|
|
QUB
|
Qube Logistics Hldg
|
145
|
-3.5
|
-2.3569
|
|
SLR
|
Silver Lake Resource
|
338
|
-8
|
-2.3121
|
|
AWC
|
Alumina Limited
|
85.5
|
-2
|
-2.2857
|
|
AQG
|
Alacer Gold Corp.
|
617
|
-14
|
-2.2187
|
|
GPT
|
GPT Group
|
353
|
-8
|
-2.2161
|
|
ANN
|
Ansell Limited
|
1552
|
-35
|
-2.2054
|
|
DJS
|
David Jones Limited
|
235
|
-5
|
-2.0833
|
Obviously a much larger group of losers, with the steel sector
taking a huge hit. The main news out of the markets from a domestic perspective
was the claim that FMG had asked their bankers to waive covenants for the next
12 months. The company has not commented yet, with the only news at this point
an unconfirmed report in the AFR. It will be key to see how this plays out, and
we would expect the company to address the issue prior to trading again
tomorrow.
The ASX200 was off by 0.5%, with all sectors but Telecoms in
the red. Healthcare and Information Technology were the hardest hit sectors,
down 1.41% and 1.11% respectively. Healthcare stocks lost ground were across
the board; however SHL, SIP and ANN were the hardest hit. In the IT space, IRE
and SMX were both down sharply.
MYR reported full year underlying net profit today, with a
14% fall to $139m
In Global economic news, US Initial Claims and PPI are due
tonight, but both numbers will take a back seat to the FOMC data, and some
clarity regarding QE3 is widely anticipated. The main news is expected around 3:30am
Sydney Time, with plenty of time for analysis prior to the market open.
AUDUSD: 1.0436 (-.003)
SPTGLD: 1730.4
(-0.17)
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