Broadly
positive day on the market with the Info Tech and Materials sectors leading the
way. The A-REITs were the only sector in the red today, although there was a
bit of red spotted around the screen. There were relatively fewer large movers
today, which is surprising given the volume traded. The late rally was due to
the announcement from the Bank of Japan, indicating that they would add 10
Trillion Yen to their asset purchase plan.
Total Value
traded was 5,736,285,828 and volume was 2,015,654,826
|
Sector
|
Up
|
Down
|
Unchanged
|
Total
|
|
Industrials
|
250
|
205
|
163
|
618
|
|
Resources
|
210
|
142
|
143
|
495
|
|
Energy
|
64
|
60
|
57
|
181
|
|
Total
|
524
|
407
|
363
|
1294
|
If we look
at today on a sector basis:
|
Security
|
Description
|
%
|
MktCap($)
|
|
XMJ
|
XJO 15 Materials
|
1.2505
|
$
246,441,723,595.81
|
|
XEJ
|
XJO 10 Energy
|
0.1481
|
$
86,817,366,208.11
|
|
XNJ
|
XJO 20 Industrial
|
0.188
|
$
79,413,263,529.67
|
|
XJO
|
S&P/ASX 200
|
0.5384
|
$
1,140,018,400,033.20
|
|
XTJ
|
XJO 50 Telecoms
|
0.4848
|
$
53,350,861,967.08
|
|
XXJ
|
XJO FinxREIT
|
0.3028
|
$
371,565,908,425.03
|
|
XHJ
|
XJO 35 HealthCare
|
1.2371
|
$
48,365,937,544.97
|
|
XFJ
|
XJO 40 Financials
|
0.1929
|
$
450,498,535,119.27
|
|
XUJ
|
XJO 55 Utilities
|
0.745
|
$
22,103,855,403.42
|
|
XIJ
|
XJO 45 Info Tech
|
1.2971
|
$
7,678,665,845.83
|
|
XDJ
|
XJO 25 Discretion
|
0.1205
|
$
56,046,261,597.89
|
|
XPJ
|
XJO A-REIT
|
-0.3669
|
$
78,932,626,694.24
|
|
XSJ
|
XJO 30 Staples
|
0.72
|
$
89,301,929,221.13
|
The big
winners today were:
|
Security
|
Description
|
Last
|
+/-
|
%
|
|
ARI
|
Arrium
Ltd
|
60
|
4.5
|
8.1081
|
|
KAR
|
Karoon
Gas Australia
|
550
|
41
|
8.055
|
|
SBM
|
St
Barbara Limited
|
219
|
14
|
6.8293
|
|
GRY
|
Gryphon
Minerals Ltd
|
94
|
6
|
6.8182
|
|
KCN
|
Kingsgate
Consolid.
|
587
|
35
|
6.3406
|
|
ACR
|
Acrux
Limited
|
340
|
19
|
5.919
|
|
AGO
|
Atlas
Iron Limited
|
168.5
|
9
|
5.6426
|
|
FMG
|
Fortescue
Metals Grp
|
369
|
19
|
5.4286
|
|
AQA
|
Aquila
Resources
|
289
|
14
|
5.0909
|
|
LNC
|
Linc
Energy Ltd
|
78
|
3.5
|
4.698
|
|
APN
|
APN
News & Media
|
33.5
|
1.5
|
4.6875
|
|
BLD
|
Boral
Limited
|
387
|
17
|
4.5946
|
|
BTU
|
Bathurst Resources
|
41.5
|
1.5
|
3.75
|
|
EWC
|
Energy World Corpor.
|
43.5
|
1.5
|
3.5714
|
|
PAN
|
Panoramic Resources
|
60
|
2
|
3.4483
|
|
IAU
|
Intrepid Mines
|
46
|
1.5
|
3.3708
|
|
MIN
|
Mineral Resources.
|
800
|
25
|
3.2258
|
|
ILU
|
Iluka Resources
|
1125
|
35
|
3.211
|
|
NCM
|
Newcrest Mining
|
2996
|
91
|
3.1325
|
|
IMD
|
Imdex Limited
|
165
|
5
|
3.125
|
|
BKN
|
Bradken Limited
|
570
|
17
|
3.0741
|
|
GBG
|
Gindalbie Metals Ltd
|
36
|
1
|
2.8571
|
|
SLR
|
Silver Lake Resource
|
370
|
10
|
2.7778
|
|
CDU
|
Cudeco Limited
|
492
|
13
|
2.714
|
|
BPT
|
Beach Energy Limited
|
133
|
3.5
|
2.7027
|
|
RRL
|
Regis Resources
|
539
|
14
|
2.6667
|
|
DML
|
Discovery Metals Ltd
|
133
|
3
|
2.3077
|
|
SAR
|
Saracen Mineral
|
44.5
|
1
|
2.2989
|
|
OZL
|
OZ Minerals
|
728
|
16
|
2.2472
|
|
SMX
|
SMS Management.
|
664
|
14
|
2.1538
|
|
MML
|
Medusa Mining Ltd
|
636
|
13
|
2.0867
|
|
EVN
|
Evolution Mining Ltd
|
196
|
4
|
2.0833
|
And the
losers:
|
Security
|
Description
|
Last
|
+/-
|
%
|
|
MAH
|
Macmahon
Holdings
|
32.5
|
-20.5
|
-38.6792
|
|
AQP
|
Aquarius
Platinum.
|
81
|
-4.5
|
-5.2632
|
|
DCG
|
Decmil
Group Limited
|
302
|
-13
|
-4.127
|
|
GFF
|
Goodman Fielder.
|
51
|
-1.5
|
-2.8571
|
|
GWA
|
GWA Group Ltd
|
180
|
-5
|
-2.7027
|
|
IPL
|
Incitec Pivot
|
289
|
-7
|
-2.3649
|
|
SIP
|
Sigma Pharmaceutical
|
66
|
-1.5
|
-2.2222
|
|
SXY
|
Senex Energy Limited
|
69
|
-1.5
|
-2.1277
|
|
MDL
|
Mineral Deposits
|
578
|
-12
|
-2.0339
|
Interesting
decision by Japan today to add to the global round of monetary stimulus – this is
starting to feel like a “keeping up with the Jones’s – Central Bankers Edition”
scenario. With the amount of stimulus that has been generated in the past week,
one has to wonder whether the return will be worth it.
Another
quiet night economically, only really US Real Estate Data to look forward to
(Building Permits, Housing Starts and Existing Home Sales).
Around
1:30am Sydney time we will also see the release of Crude Oil Inventories in the
US, which may give some indication as to the reasons behind the $3.00 drop in
Oil futures the other day.
Newcrest
closed at $29.96 today, the high for the day, on the back of a rise in the spot
gold price. It’s interesting to note however that since late July, the stock
has rebounded almost 50%. There was no shortage of bad news announcements and
downgrades as the stock plummeted since March, but it has received considerably
less coverage by the media during its surprisingly resilient rally. The moves
recently have closed some of the performance gap between NCM and GOLD, however
there is still some way to go – particularly if theBrokers and Analysts start
to get on board.
FMG had
another strong day, with the stock tracking up $0.19, however it would not
surprise me to see some profit taking towards the weekend, the last two weeks
have been a particularly wild ride, and I expect that some people who bought in
recently might have bitten off a bit more volatility than expected.
MAH
downgraded their earnings guidance today, and lost a quick 38% off the share
price. There were several interesting outtakes from the announcement, but the
key point for me was the reduction in the estimate of the volume of new work
that is expected to be undertaken this financial year. Interestingly, DCG was
also among the market’s worst today, perhaph in sympathy with it’s industry
partner.
The mining
services industry is one where there are several, well run, profitable
businesses that have seen their share price dramatically fall since the recent
cutbacks in mining projects. This is a subsector which may well provide a
leveraged exposure to the resources sector if China’s growth picks up as we see
the mining boom resume. Comparable stocks include:
o
FGE Forge Group Limited
o
GCS Global Construction
o
GNG Gr Engineering Ltd
o
LEI Leighton Holdings
o
LYL Lycopodium Limited
o
MAH Macmahon Holdings
o
MLD MACA Limited
o
MND Monadelphous Group
o
MYE Mastermyne Group Ltd
o
NWH NRW Holdings Limited
o
RCR RCR Tomlinson
o
SDM Sedgman Limited
o
SSM Service Stream
o
SWK Swick Mining
o
SWL Seymour Whyte Ltd
o
SXE Sth Crs Elect Engnr
o
UGL UGL Limited
o
WDS WDS Limited
o
WTP Watpac Limited
Please note,
these names were simply lifted from the ASX and do not constitute a
recommendation.
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