WEEKLY AUSTRALIAN STOCK EXCHANGE (ASX)
ANALYSIS & SUMMARY - SATURDAY EDITION
<---D030--->
MARKET
SUMMARY FOR FRIDAY JULY 19TH. 2002
AORD:
3058.00 = -41.60
S&P/ASX200:
3109.20 = -43.10
MOST ACTIVE STOCKS & SECTORS
The
Australian market closed lower on Friday. Over the week,
the AORD declined 88.0 points, while the S&P/ASX
lost 88.2 points. Gainers Included: Adtrans Group Ltd,
Agenix Ltd, Alesco Corp, Amalgamated Holdings Ltd, Ambri
Ltd, Anglogold Ltd, Aurion Gold Ltd, Auspine Ltd, Australand
Holdings Ltd, Australia Magnesium Ltd, Bendigo Mining
NL, BHP Billiton Ltd, Blackmores Ltd, Bligh Oil &
Minerals Ltd, Boral Ltd, Caltex Australia Ltd, Carindale
Property Trusts Ltd, Central Equity Ltd, Centro Properties
Ltd, Citect Ltd, CMI Ltd, Collection House Ltd, Corporate
Express Australia Ltd, Crane Group Ltd, Croesus Mining
NL, David Jones Ltd, Ellex Medical Lasers Ltd, Equigold
Ltd, Evans Tate Ltd, Fantastic Furniture Ltd, Forest
Place Group Ltd, Goldstream Ltd, Graincorp Ltd, Gunns
Ltd, Hills Motorway Ltd, Hutchison Telecommunications
Ltd, James Hardie Ltd, Jupiters Ltd, Lion Selection
Group Ltd, Magellan Pharmaceuticals Ltd, McConnell Dow
Ltd, McMahon Holdings Ltd, McQuarie Goodman Industrial
Trust Ltd, Mia Group Ltd, Oakton Computing Ltd, Onesteel
Ltd, Origin Energy Ltd, Pacific Hydro Ltd, Pima Mining
NL, Plaspak Group Ltd, Powerlan Ltd, Qantas Airways
Ltd, QBE Insurance Ltd, Rebel Sport Ltd, Ridley Corp,
Rio Tinto Ltd, Roc Oil Company, Rock Building Society
Ltd, Sons of Gwalia Ltd, SPC Armona Ltd, Sydney Aquarium
Ltd, Ticor Ltd, Troy Resources Ltd, United Energy Ltd,
and WMC Ltd.
MAIN REASONS FOR ACTIVITY
-
Publisher
John Fairfax lost 0.63% after announcing that it
reached a 3-year wage agreement with its State of
Victoria workers.
-
Banking
and insurance shares closed lower on Friday on solvency
concerns.
-
Gold
shares closed higher on the weak US Dollar. The
massive losses in the US also drove investors into
seeking safer havens.
-
AXA
Asia Pacific Holdings lost 5.08% after announcing
that it paid A$205 million to acquire Ipac Securities.
-
News
Corp. closed lower and led media shares down.
-
Origin
Energy gained 1.25% after paying A$137 million to
acquire the retail business unit of Victoria power
company, Citipower, a unit of US based American
Energy Corp.
-
The
London Stock Exchange (LSE) closed lower on Friday
due to.............Visit our BusinessJeeves
UK & Ireland portal to read our summary
and analysis of the London Stock Exchange.
-
BHP
Billiton gained 1.33% after Merrill Lynch valued
the oil find of its Neptune Oil subsidiary in the
Gulf of Mexico at over US$600 million.
-
Rio
Tinto gained 1.38% after analysts announced that
it expects its first half net profit to decline
by 17%. Analysts however, expect its diamond unit
to see an upside, while Copper operations are expected
to be steady.
-
Jubilee
Mines NL. closed unchanged despite announcing that
it will start its underground nickel mining operations
in the Outback in a year.
-
Oil
shares generally closed lower due to the decline
in Brent crude prices.
-
AFTER
CLOSE: The Dow Index lost more than 390 points on
Friday in very very heavy trading volume.
-
PICKS
FOR THE NEXT MARKET DAY
REASONS
BEHIND THE PICKS
- We
expect next week to be also influenced by corporate
earnings, accounting issues and economic reports
from the US, and metals prices.
Visit
our archives by clicking here.
<---D029--->
MARKET
SUMMARY FOR FRIDAY JULY 12TH. 2002
AORD:
3146.00 = +3.90
S&P/ASX200:
3197.40 = +5.00
MOST ACTIVE STOCKS & SECTORS
The
Australian market closed higher on Friday. Over the
week, the AORD declined 18.3 points, while the S&P/ASX
lost 17.4 points, due mostly to more corporate accounting
scandals in the US. Gainers Included: Adelaide Bank
Ltd, Adstream Marine Ltd, Alesco Corp, AMP Office Trust
Ltd, Anaconda Nickel Ltd, Anglogold Ltd, ANZ Banking
Group Ltd, APN News & Media Ltd, Asia Pacific Specialty
Chemicals Ltd, Bank of Queensland Ltd, Bank of Western
Australia (Bankwest) Ltd, Bass Strait Oil Ltd, Baycorp
Advantage Ltd, Bligh Oil & Minerals Ltd, Boral Ltd,
Brazin Ltd, Brickworks Ltd, Carindale Property Trusts
Ltd, Centro Properties Ltd, Chemeq Ltd, Clough Ltd,
Cochlear Ltd, Comet Satellite Ltd, CPI Group Ltd, CSL
Ltd, CRS Corp, Emperor Mines Ltd, Fleetwood Corp, Fosters
Group Ltd, Freedom Group Ltd, Gandel Retail Trust Ltd,
Gasnet Australia Ltd, General Property Trust Ltd, Goodman
Fielder Ltd, Gowing Brothers Ltd, Gradipore Ltd, G.U.D.
Holdings Ltd, Gunns Ltd, Harvey Norman Ltd, Health Communications
Network Ltd, HGL Ltd, Housewares International Ltd,
Hutchison Telecommunications Ltd, ING Industrial Property
Trust Ltd, Investor Group Ltd, IWL Ltd, Leighton Holdings
Ltd, Lend Lease Ltd, Lihir Gold Ltd, LookSmart Ltd,
Macquarie Bank Ltd, Mayne Group Ltd, McPhersons Ltd,
Metabolic Pharmaceuticals Ltd, MIM Holdings Ltd, Monadel
Phous Ltd, Newcrest Mining Ltd, News Corp, Nufarm Ltd,
PBL Ltd, Qantas Airways Ltd, Rio Tinto Ltd, SFE Corp,
Singapore Telecommunications, Sons of Gwalia Ltd, Technology
One Ltd, Ticor Ltd, Transurban Group Ltd, United Energy
Ltd, Village Roadshow Ltd, Westpac Banking Ltd, and
Yates Ltd.
MAIN REASONS FOR ACTIVITY
-
The
Australian Unemployment Rate held steady at 6.3%
in June.
-
Banking
shares were generally strong on Friday. Australia's
largest bank, National Australia Bank (NAB), lost
0.56% on renewed rumours it is again after the UK's
Abbey National.
-
Gold
mining shares closed higher on Friday and most of
the week as corporate accounting scandals in the
US pushed investors into safer haven.
-
Furniture
and home products retailer, Freedom Group, gained
1.03% after South African based furniture maker
Steinhoff International, paid A$14.4 million to
raise its stake in Freedom Group to 19.9%.
-
Telstra
closed unchanged after the Australian government
introduced plans to improve phone services in about
55 rural areas before selling its remaining 50.1%
stake in the phone giant. The Australian government's
stake is valued at around A$30 billion.
-
Asia
Pacific Specialty Chemicals gained 10.61% after
Nuplex Industries sweetened its bid offer by 4 cents
to 74 cents a share. Nuplex Industries closed unchanged.
-
Health
Communications Network gained 1.56% after winning
a 3-year data supply contract with US based IMS
Health.
-
The
London Stock Exchange (LSE) closed lower on Friday
due to.............Visit our BusinessJeeves
UK & Ireland portal to read our summary
and analysis of the London Stock Exchange.
-
LookSmart
gained after US rival, Yahoo! reported stellar earnings
on Wednesday and even raised its outlook.
-
Austral
Coal lost 3.03% after announcing on Thursday that
it increased its first half coal production by 55%
to 1.23 million tonnes.
-
Autogen
was unchanged after announcing Thursday that it
received an Australian Patent for its Obesity gene,
Beacon™.
-
Snack
Foods closed unchanged after government regulators
approved its acquisition by Arnott Biscuits, a unit
of Campbell's.
-
HGL
Ltd. gained 5.56% after reporting first half pretax
profit that rose to A$6.3 million, more than double
last year's, and that unfranked dividends will increase
to 6 cents a share.
-
Clough
Ltd. gained 5.06% after winning the Phase II, A$96
million contract for Pakistan's Greenfields Sawan
Onshore Gas Project.
-
PICKS
FOR THE NEXT MARKET DAY
REASONS
BEHIND THE PICKS
- We
expect next week to be also influenced by corporate
earnings, accounting issues and economic reports
from the US, and metals prices.
Visit
our archives by clicking here.
<---D028--->
MARKET
SUMMARY FOR FRIDAY JULY 5TH. 2002
AORD:
3164.30 = +7.60
S&P/ASX200:
3214.80 = +6.10
MOST ACTIVE STOCKS & SECTORS
The
Australian market closed higher on Friday. Over the
week, the AORD gained 1.1 points, while the S&P/ASX
lost 1.2 points. Gainers Included: ABC Learning Centres
Ltd, Abigroup Ltd, Adelaide Bank Ltd, Adtrans Group
Ltd, Ainsworth Games Ltd, Allegiance Mining NL, Amalgamated
Holdings Ltd, Anaconda Nickel Ltd, Ansell Ltd, Aurion
Gold Ltd, Australia Oil & Gas Ltd, Autogen Ltd,
Bank of Western Australia (Bankwest) Ltd, Bendigo Bank
Ltd, BHP Billiton Plc, Brescan Ltd, Boral Ltd, Brazin
Ltd, Centro Properties Ltd, Challenger International
Ltd, Chemeq Ltd, Cochlear Ltd, Commonwealth Bank of
Australia Ltd, CSR Corp, Foodland Ltd, Gandel Retail
Trust Ltd, G.U.D. Holdings Ltd, Insurance Australia
Group Ltd, Iress Market Ltd, John Fairfax Holdings Ltd,
Leighton Holdings Ltd, LookSmart Ltd, Meditech Resources
Ltd, Metal Storm Ltd, MIM Holdings Ltd, News Corp, Oil
Company of Australia Ltd, Oil Search Ltd, Onesteel Ltd,
Pacifica Group Ltd, PBL Ltd, Polartechnics Ltd, Prime
Life Corp, Sabre Group Ltd, SFE Corp, Singapore Telecommunications,
Sons of Gwalia Ltd, Tap Oil Ltd, Union Capital Ltd,
Westfield Holdings Ltd, and Westfield Trust Ltd.
MAIN REASONS FOR ACTIVITY
-
The
Reserve Bank of Australia (RBA) on Thursday left
the official Cash Rate unchanged at 4.75%.
-
Aurion
Gold gained 2.19% after on Thursday Canada's Placer
Dome extended its bid for the gold miner to July
24th.
-
Oil
Company of Australia gained 4.65% after upgrading
its coal seam gas reserve at Fairview and Durham
Fields, all in Queensland.
-
Oil
Search gained 5.26% on news that its partners in
the US3.5 billion Papua New Guinea to Australia
gas pipeline will decide the project's fate next
week. Oil Search owns 45% of the project.
-
Mining
and major banking shares were generally lower on
Friday.
-
The
London Stock Exchange (LSE) closed higher on Friday,
after lingering in the 9 month low range all week
due to.............Visit our BusinessJeeves
UK & Ireland portal to read our summary
and analysis of the London Stock Exchange.
-
Australia
Oil & Gas (AOG) gained 6.27% after Canada's
Ensign Resource Services Group sweetened its takeover
deal to A$2.60/share of AOG, and A$1.40/option.
-
BHP
Billiton gained 1.68% after announcing that the
institutional investor share allocation for its
BHP Steel was oversubscribed.
-
Pacifica
Group gained 1.06% despite selling its UK construction
products unit, Lionweld Kennedy, for less than the
expected £7.5 million.
-
National
Australia Bank closed unchanged despite rumours
that it is eyeing UK based Abbey National Bank again.
-
PICKS
FOR THE NEXT MARKET DAY
REASONS
BEHIND THE PICKS
- We
expect next week to be also influenced by corporate
earnings, accounting issues and economic reports
from the US, and metals prices.
Visit
our archives by clicking here.
<---D027--->
MARKET
SUMMARY FOR FRIDAY JUNE 28TH. 2002
AORD:
3163.20 = +2.40
S&P/ASX200:
3216.00 = +3.10
MOST ACTIVE STOCKS & SECTORS
The
Australian market closed higher on Friday. Over the
week, the AORD lost 41.3 points, while the S&P/ASX
lost 36.2 points. Gainers Included: ABC Learning Centres
Ltd, Adcorp Australia Ltd, Adelaide Bank Ltd, Adstream
Marine Ltd, Alesco Corp, AMP Ltd, AMP Divers Property
Ltd, AMP Industrial Property Ltd, AMP Shopping Centre
Ltd, Ansell Ltd, APN News & Media Ltd, ARB Corp,
Ausmelt Ltd, Australia Oil & Gas Ltd, Australian
Pharmaceuticals Ltd, Bank of Queensland Ltd, Bank of
Western Australia (Bankwest) Ltd, Bendigo Bank Ltd,
Billabong International Ltd, Blacksmores Lab. Ltd, Brambles
Industries Ltd, Brescan Ltd, Bristile Ltd, Casinos Austria,
CDS Technologies Ltd, Centro Properties Ltd, Challenger
International Ltd, Coca Cola Amatil Ltd, Cochlear Ltd,
Coles Myer Ltd, Computershare Ltd, CSR Corp, Crane Group
Ltd, Danks Holdings Ltd, David Jones Ltd, DCA Group
Ltd, ERG Ltd, Foodland Ltd, Futuris Ltd, Gandel Retail
Trust Ltd, General Property Trust Ltd, Genetic Technology
Ltd, Goodman Fielder Ltd, Gradipore Ltd, Hills Industries
Ltd, Horizon Energy Investment Group Ltd, Hutchison
Telecommunications Ltd, Investors Group Ltd, ION Ltd,
Iress Market Ltd, James Hardie Ltd, John Fairfax Holdings
Ltd, Leighton Holdings Ltd, Lend Lease Ltd, LookSmart
Ltd, MacMahon Holdings Ltd, McPhersons Ltd, Medica Holdings
Ltd, Metal Storm Ltd, Miller's Retail Ltd, MIM Holdings
Ltd, Monadel Phous Ltd, MTM Entertainment Ltd, National
Australia Bank Ltd, Novogen Ltd, Onesteel Ltd, Patrick
Corp, PBL Ltd, Portman Ltd, Qantas Airways Ltd, QBE
Insurance Ltd, Simsmetal, Singapore Telecommunications,
Smorgon Steel Group Ltd, Software Communications Group
Ltd, Soul Pattinson Ltd, Southern Cross Broadcasting
Ltd, St. George Bank Ltd, Startrack Communications,
TAB Queensland Ltd, Telstra Ltd, Tempo Services Ltd,
Ten Network Holdings Ltd, Tuart Resources Ltd, Wattyl
Ltd, Westfield America Trust Ltd, Westfield Holdings
Ltd, Westfield Trust Ltd, WMC Ltd, and Woolworths Ltd.
MAIN REASONS FOR ACTIVITY
-
WEEKEND
NEWS: US copier giant, Xerox, announced Friday that
it will have to restate 5 years of financial results
and reclassify about US$6.4 billion in revenues.
-
MIM
Holdings gained 0.78% after announcing Thursday
that it is buying an Ernest Henry Copper Mine stake.
-
Horizon
Energy Investment gained 6.45% on news that Belgium's
Tractabel has made a bid for the Loy Yang Power
Station. Horizon Energy owns a 25% stake in Loy
Yang.
-
Australian
steel shares performed well for the week after the
Australian government won more Steel concessions
from the US.
-
Smorgon
Steel gained 0.88% after completing its debt restructuring
with bankers, and succeeded in reducing its debt
from A$1.1 billion to A$700 million.
-
Broadcaster
PBL gained 1.0% after casino operator, Crown Ltd,
announced that it is buying back 840.34 million
of its shares that PBL owns, which are valued at
around A$1 billion.
-
News
Corp. lost 2.71% after announcing the acquisition
of a United Paramount Network (UPN) in Chicago,
USA. News Corp now have 2 stations (duopoly) in
each of the top 3 US markets of New York, Los Angeles,
and Chicago. News Corp. also has a duopoly in 9
other markets - all in the top 20 markets in the
US.
-
Gold
shares and bullion prices closed lower as Japanese
and European Central bankers came into the market
to prop up the declining US dollar.
-
Metals
fabricator, Crane Group, gained 4.89% after announcing
that it raised US$70 million (A$125.9 million) through
the placement of unsecured notes in the US.
-
Futuris
gained 0.74% despite the fact that it had 2 very
negative pieces of news: Salomon Smith Barney cut
its fiscal 2002 and 2001 profit outlook on the company;
The Australian Bureau of Agricultural & Resource
Economics (ABARE) stated this week that Cattle prices
will decline about 20%, and Wool prices will decline
about 7%. The dry weather in Eastern Australia is
not helping either.
-
The
London Stock Exchange (LSE) closed higher on Friday,
after lingering in the 9 month low range all week
due to.............Visit our BusinessJeeves
UK & Ireland portal to read our summary
and analysis of the London Stock Exchange.
-
Goodman
Fielder gained 2.45% after agreeing to sell its
Chinese Dumplings production facility in Taiwan
to McCain Foods.
-
BHP
Billiton lost 0.96% after its shareholders approved
the spinoff of its Steel unit late Wednesday. BHP
Steel is valued at up to A$2.6 billion.
-
Shipbuilder
Austal lost 4.38% Friday despite announcing on Thursday
that it has won a contract to build a 41 metre dinner
cruise monohull for New York City, US based Cloud
Nine.
-
PaperlinX
closed unchanged on Friday after announcing Thursday
that it has successfully placed about A$125 million
worth of shares with institutional investors, as
part of its fund raising to acquire Bunzl Plc.'s
Bunzl Fine Paper.
-
Australian
banking shares closed mixed based on their debt
exposure to US based Worldcom Group, which announced
over the week that it can't account for US$3.8 billion.
-
Insurance
Australia Group (IAG) lost 0.32% after stating that
its first half results will be significantly affected
by the poor investment environment.
-
PICKS
FOR THE NEXT MARKET DAY
REASONS
BEHIND THE PICKS
- We
expect next week to be also influenced by corporate
earnings, accounting issues and economic reports
from the US, and metals prices.
Visit
our archives by clicking here.
<---D026--->
MARKET
SUMMARY FOR FRIDAY JUNE 21ST. 2002
AORD:
3204.50 = -26.30
S&P/ASX200:
3252.20 = -27.40
MOST ACTIVE STOCKS & SECTORS
The
Australian market closed lower on Friday. Over the week,
the AORD lost 91.2 points, while the S&P/ASX lost
90.6 points. Gainers Included: ABC Learning Centres
Ltd, Adcorp Australia Ltd, Ambri Ltd, AMP Shopping Centre
Ltd, Anaconda Nickel Ltd, Anglogold Ltd, Ansell Ltd,
Aurion Gold Ltd, Aussiecover Ltd, Billabong International
Ltd, Boral Ltd, Caltex Australia Ltd, CDS Technologies
Ltd, Chemeq Ltd, Coca Cola Amatil Ltd, Computershare
Ltd, Danks Holdings Ltd, David Jones Ltd, Equigold Ltd,
Flight Centre Ltd, Foodland Ltd, Gazal Corp, General
Property Trust Ltd, George Weston Ltd, Gold Mines of
Sardinia Ltd, Goodman Fielder Ltd, Gowings Brothers
Ltd, Harvey Norman Ltd, Hunter Hall International Ltd,
Investors Group Ltd, James Fielding Ltd, Jubilee Mines
Ltd, Lihir Gold Ltd, Lion Nathan Ltd, Lion Selection
Group Ltd, Macquarie Infrastructure Group Ltd, Matrix
Oil Ltd, McGuigan Wines Ltd, McPhersons Ltd, MIA Group
Ltd, Micromedical Industries Ltd, MIM Holdings Ltd,
Novogen Ltd, Oil Search Ltd, Patrick Corp, Peptech Ltd,
Portman Ltd, Prime Television Ltd, Reece Australia Ltd,
Rural Press Ltd, Santos Ltd, Seven Network Ltd, Simeon
Wines Ltd, Sonic Healthcare Ltd, Sons of Gwalia Ltd,
Soul Pattinson Ltd, St. Barbara Mines Ltd, Sydney Gas
Co. Ltd, TAB Ltd, Telstra Ltd, Tuart Resources Ltd,
Vecommerce Ltd, Wattyl Ltd, Western Metals Ltd, Woodside
Petroleum Ltd, and Zimbabwe Platinum Mines.
MAIN REASONS FOR ACTIVITY
-
The
Westpac/Melbourne Institute Consumer Sentiment Index
rose 2.7% in June to 112.9.
-
Australia's
Trade Balance worsened in April.
-
Rural
Press gained 3.26% after acquiring 2 Victorian newspapers
from Independent Newspapers Ltd. of New Zealand.
-
Oil
shares gained as crude oil futures prices rose.
-
Telstra
gained 0.22% after its Pay-TV unit, Foxtel, announced
that it will work with the Australian competition
watchdog, Australia Competition & Consumer Commission
(ACCC) to overcome concerns that its planned content
sharing agreement with rival Pay-TV company, Optus,
could be anti-competitive. Singapore Telecommunications,
which owns Optus, lost 2.92%. News Corp and PBL
Ltd, which own 25% each of Foxtel, closed lower.
-
Globe
International, whose shares were suspended, announced
that it will resume trading next Monday after successfully
raising A$80 million to acquire Los Angeles USA
based Kubic Marketing.
-
Data
& Commerce, which launched a bid for Software
Communications Group (SOFCOM) last week, closed
unchanged after Shell Australia, a subsidiary of
Royal Dutch/Shell, announced that it will consider
any offer for its 19.9% stake in SOFCOM, so far
as it is submitted by June 25th.
-
Bank
of Western Australia lost 1.27% after successfully
placing $300 million bond in the UK.
-
Gold
shares gained as bullion prices rose most of the
week due to continued tensions in the Middle East,
and worries about the US economy, corporate accounting
practices and earnings forced investors to seek
safer havens.
-
Qantas
Airways lost 0.68% after announcing a program called
eQ, an e-business initiative designed to cut cost
at the large carrier by more than 15%.
-
Burns
Philp & Co. closed unchanged after announcing
that it will close its Victoria based South Yarra
Yeast Manufacturing plant by the end of July.
-
The
London Stock Exchange (LSE) closed higher on Friday,
after lingering in the 9 month low range all week
due to.............Visit our BusinessJeeves
UK & Ireland portal to read our summary
and analysis of the London Stock Exchange.
-
Ainsworth
Game Technology lost 1.82% after naming Peter James
as its new CEO and a board member.
-
AMP
lost 1.19% after announcing on Tuesday plans to
merge its London Life, NPI, and Pearl businesses
into one and cut about 1,500 of its 5,000 UK workforce.
The business consolidation and consequent job cuts
are expected to save the company about A$260 million
in 18 months.
-
Aurion
Gold gained 0.95% after announcing plans to increase
its gold reserve by 25% to 7.7 million ounces.
-
McGuigan
Wines and Simeon Wines both gained after the Supreme
Court of South Australia approved their merger plans.
-
Silex
Systems lost 47.37% after its US partner, USEC inc.,
selected the US Department of Energy centrifugal
technology for its uranium plant instead.
-
Intellect
Group closed unchanged on Friday after announcing
Thursday that it won a mobile payment contract in
Greece.
-
Toll
Holdings lost 2.23% on Friday after announcing Wednesday
that it is acquiring Ausdocs Ltd's DX Courier service.
-
Belgian
banking group, ABN AMBRO NV, made a bid for Audocs
Ltd. on Wednesday. Audocs Ltd. closed unchanged.
-
Nufarm
lost 2.06% after completing the sale of its Canadian
Sulfur Works business.
-
PICKS
FOR THE NEXT MARKET DAY
REASONS
BEHIND THE PICKS
- We
expect next week to be also influenced by earnings
and economic reports from the US, and metals prices.
Visit
our archives by clicking here.
<---D025--->
MARKET
SUMMARY FOR FRIDAY JUNE 14TH. 2002
AORD:
3246.40 = -18.40
S&P/ASX200:
3294.10 = -19.50
MOST
ACTIVE STOCKS & SECTORS
The
Australian market closed lower on Friday to a new 6
month low. Over the week, the AORD lost 49.3 points,
while the S&P/ASX300 lost 48.7 points. Gainers Included:
ABC Learning Centres Ltd, Adelaide Brighton Ltd, Adtrans
Group Ltd, AMP Shopping Centres Ltd, Anglogold Ltd,
AWB Ltd, Bass Strait Oil Ltd, Blackmores Ltd, Cabcharge
Australia Ltd, Cellestis Ltd, Cellnet Telecommunications
Ltd, Centro Properties Ltd, CDS Technologies Ltd, Chemeq
Ltd, Collection House Ltd, Computershare Ltd, Coventry
Group Ltd, Cranswick Premium Wines Ltd, DVT Holdings
Ltd, FKP Ltd, Freedom Group Ltd, Gandel Retail Trust
Ltd, GRD NL, Gympie Gold Ltd, Hills Industries Ltd,
Hills Motorway Ltd, Houseware International Ltd, HPAL
Ltd, Institute of Drug Technology Australia Ltd, Investors
Group Ltd, John Fairfax Holdings Ltd, Kingsgate Consolidated
Ltd, Leighton Holdings Ltd, Lend Lease Ltd, Lihir Gold
Ltd, LookSmart Ltd, Mayne Group Ltd, McArthur Coal Ltd,
McGuigan Wines Ltd, National Australia Bank Ltd, National
Foods Ltd, Normandy NFM Ltd, Oil Search Ltd, Onesteel
Ltd, OPSM Group Ltd, Orbital Engine Corp, Orica Ltd,
Panbio Ltd, Prime Television Ltd, Qantas Ltd, Resmed
Ltd, Rio Tinto Ltd, Santos, Simeon Wines Ltd, Sons of
Gwalia, Soul Pattinson Ltd, Ten Network Holdings Ltd,
Village Roadshow Ltd, Wesfarmers Ltd, Westfield America
Trust, Woodside Petroleum Ltd, and Woolworths Ltd.
MAIN REASONS FOR ACTIVITY
-
Gold
shares gained as bullion prices rose after terrorism
fears were rekindled by a terrorist attack outside
a US Consulate in Karachi, Pakistan.
-
WMC
lost 2.82% on Friday after the company made known
on Thursday that it will not cut Copper production,
despite the weak prices.
-
National
Foods gained 4.78% after wining a nationwide contract
to supply milk for Woolworths. Woolworths gained
0.61%.
-
Anaconda
Nickel lost 9.38% on worries that it might default
on bond payments to its US bondholders for about
US$420 million.
-
Oil
shares gained as crude oil futures prices gained
overnight on the New York Mercantile Exchange (NYMEX).
-
GRD
NL gained 0.84% after signing a memorandum of understanding
with Mitsubishi Corp. of Japan.
-
Simeon
Wines gained 2.84% after its shareholders overwhelmingly
approved its merger with McGuigan Wines. McGuigan
Wines gained 0.42% on the news.
-
The
London Stock Exchange (LSE) closed lower on Friday
to a fresh 9 month low due to.............Visit
our BusinessJeeves
UK & Ireland portal to read our summary
and analysis of the London Stock Exchange.
-
News
Corp lost 2.34% on Friday, and has had a rough week
after the company acquired Vivendi-Universal's troubled
Italian Pay-TV unit.
-
Property
companies were some of the best performing shares
on Friday, while financials were some of the worst
performers.
-
Publisher
PMP Ltd. lost 2.22% on Friday after announcing on
Thursday that it is selling a 50% stake in PMP Magazines
to Seven Networks and use the proceeds to pay down
debts as part of its restructuring plan. Seven Network
lost 0.53%. Media shares were generally weak.
-
Cranswick
Premium Wines gained 0.96% after announcing plans
to merge Evans & Tate. Evans & Tate lost
8.16% on the news.
-
MIM
Holdings lost 3.79% after announcing that its Mt.
Isa Copper Smelter in Queensland will be closed
for 7 days after a fire at the smelter on Thursday.
-
Lend
Lease gained 0.68% on speculation that the Commonwealth
Bank might be interested in the company's property
funds unit. Commonwealth Bank lost 0.38% after its
CEO, David Murray, refused to comment on the speculation
in an interview.
-
Australia's
wheat seller, AWB, gained 0.94% after announcing
that China has ordered Australian wheat, and the
country might even increase the order. AWB is meeting
with Southeast Asian customers in hopes of increasing
Australian wheat exports to the region.
-
PICKS
FOR THE NEXT MARKET DAY
REASONS
BEHIND THE PICKS
- We
expect next week to be influenced by economic and
some earnings reports from the US, and metals prices.
Visit
our archives by clicking here.
<---D024--->
MARKET
SUMMARY FOR FRIDAY JUNE 7TH. 2002
AORD:
3295.70 = -3.00
S&P/ASX200:
3342.80 = -1.50
MOST
ACTIVE STOCKS & SECTORS
The
Australian market closed lower on Friday. Gainers Included:
Adcorp Australia Ltd, AMP Ltd, Aurion Gold, Australian
Oil & Gas Ltd, Australian Pipeline Ltd, Bank of
Queensland Ltd, BHP Billiton Ltd, Biota Holdings Ltd,
Brambles Industries Ltd, Bresagen Ltd, Brickworks Ltd,
Caltex Australia Ltd, Cape Range Ltd, Cellestis Ltd,
Coca Cola Amatil Ltd, Coles Myer Ltd, Commander Communications
Ltd, Commonwealth Bank Ltd, CPI Group Ltd, Eagers Ltd,
Energy Developments Ltd, ERG Ltd, Flight Centre Ltd,
General Property Trust Ltd, Harvey Norman Ltd, Housewares
International Ltd, Hutchison Telecommunications Ltd,
Iluka Resources Ltd, Infomedia Ltd, Joe White Maltings
Ltd, Kalrez Energy Ltd, Keycorp Ltd, Lend Lease Ltd,
Lihir Gold Ltd, Milton Corp, Oakton Computing, Oil Search
Ltd, Orica Ltd, Origin Energy Ltd, Plaspak Group Ltd,
Prime Television Ltd, Resmed Ltd, Rio Tinto Ltd, Santos
Ltd, Singapore Telecommunications, Southern Cross Broadcasting
Ltd, St. George Bank Ltd, Suncor-Metway Ltd, TAB Ltd,
Tabcorp Holdings Ltd, Telecommunications of New Zealand,
Toll Holdings Ltd, Wattyl Ltd, Westfield Trust Ltd,
Westfield America Trust Ltd, Westpac Banking, WMC Ltd,
Woodside Petroleum Ltd, and Zimbabwe Platinum Mines.
MAIN REASONS FOR ACTIVITY
-
Australia's
GDP for Q2 2002 rose a strong 0.9%.
-
Australia's
Unemployment Rate held steady at 6.3% in May.
-
Precious
metals shares gained as metals prices held on their
gains. Gold shares were also higher after Industries,
Tourism, and Resources minister Ian MacFarlane stated
on Thursday that he sees more consolidation in the
sector.
-
Telstra
lost 1.52% on concerns around the world about telecommunications
revenue growth.
-
Oil
refiner and marketer Caltex Australia gained 16.33%
after raising its first half profit outlook.
-
Coles
Myer gained 0.92% after announcing that it will
continue with its restructuring, and might even
consider outside advisers.
-
Woolworths
lost 0.68% after its CEO, Roger Corbett, made known
that the company might consider acquiring Coles
Myer's Target and K-Mart units if they are up for
sale.
-
News
Corp. lost 1.69% and led media shares lower on concerns
that it might offer France's Vivendi Universal US$800
million to acquire its ailing Italian pay-TV business.
-
National
Foods, which on Wednesday saw Danone acquire 10%
of it, reiterated its full year profit estimates.
National Foods CFO, Clive Hooke, also made known
in the Reuters® interview that, they expect growth
of 11%.
-
The
London Stock Exchange (LSE) closed lower on Friday
due to.............Visit our BusinessJeeves
UK & Ireland portal to read our summary
and analysis of the London Stock Exchange.
-
Energy
Developments gained 21.25% after the company approved
the building of a new environmentally friendly Char
Gasifier at its Whytes Gully plant in Brisbane.
-
Village
Roadshow lost 15.03% after announcing that it is
suspending dividends on its ordinary shares.
-
Abigroup
closed unchanged after announcing on Thursday that
it has won a A$100 million contract to build the
Watergate Apartments at Melbourne's Docklands.
-
MacArthur
Coal lost 4.0% after lowering its full year net
profit estimates on Thursday.
-
Australian
Oil & Gas gained 1.56% after Parker Drilling
announced on Thursday that it is also interested
in acquiring the company. Canada's Ensign is also
bidding for the company.
-
Gowings
Brothers lost 5.56% after lowering its full year
net profit on Thursday.
-
Flight
Centre gained 0.88% after raising its full year
net profit on Thursday.
-
PICKS
FOR THE NEXT MARKET DAY
REASONS
BEHIND THE PICKS
- We
expect next week to be influenced by earnings reports
from the US, and metals prices.
Visit
our archives by clicking here.
<---D023--->
MARKET
SUMMARY FOR FRIDAY MAY 17TH. 2002
AORD:
3361.80 = +20.18
S&P/ASX200:
3412.60 = +17.30
MOST
ACTIVE STOCKS & SECTORS
The
Australian market closed higher on Friday. Gainers Included:
Anglogold Ltd, Aurion Gold, BHP Billiton Ltd, Billabong
International, CIM Resources Ltd, CSR Ltd, James Hardie,
Lihir Gold Ltd, Lion Nathan Ltd, McQuarie Bank, Newcrest
Mining, News Corp, PBL Ltd, Rio Tinto Ltd, Seven Networks,
Sons of Gwalia Ltd, Tuart Resources, and Zimbabwe Platinum
Mines.
MAIN
REASONS FOR ACTIVITY
-
Australia's
Average Weekly Ordinary Time Earnings (AWOTE) in
full time employment for Q1 ending February rose
1.5%.
-
Australia's
Imports rose to A$10.1 billion in April.
-
News
Corp gained 3.2% after giving an upbeat fiscal Q2
outlook.
-
Building
materials shares improved on an upbeat economic
outlook.
-
BHP
Billiton gained 0.3% after announcing that it is
allocating US$123 million to develop its part of
Australia's offshore Minerva gas field.
-
The
Australian dollar gained against the US dollar on
Friday.
-
The
London Stock Exchange (LSE) closed mixed on Friday
due to.............Visit our BusinessJeeves
UK & Ireland portal to read our summary
and analysis of the London Stock Exchange.
-
James
Hardie gained after reporting that its fiscal 2001/2002
net profit declined to US$29.3 million. On the upside,
the company announced that it has US$67 million
to make international acquisitions.
-
Anglogold
gained and led gold shares higher on market rumours
that it might team with Canada's Barrick Gold and
bid for fellow South African miner, Gold Fields
Ltd.
-
ANOTHER
ADDITION: We now have services for Australia,
Canada,
South Africa,
UK &
Ireland, and United States. We will continue our
qualitative, informative, and useful content policies
at all our portals. Thank you for your support.
PICKS
FOR THE NEXT MARKET DAY
REASONS
BEHIND THE PICKS
- We
expect next week to be influenced by earnings reports
from the US.
Visit
our archives by clicking here.
<---D022--->
MARKET
SUMMARY FOR FRIDAY MAY 3RD. 2002
AORD:
3314.50 = +3.20
S&P/ASX200:
3366.00 = +3.70
MOST
ACTIVE STOCKS & SECTORS
The
Australian market closed higher on Friday. Over the
week, the AORD declined 14.7 points, while the S&P/ASX200
declined 13.1 points. Gainers Included: Adstream Marine
Ltd, AdultShop.Com, Ambri Ltd, AMP Office Trust Ltd,
AMP Shopping Centres Trust Ltd, Anaconda Nickel Ltd,
Anglogold Ltd, Autogen Ltd, BHP Billiton Ltd, Bougainville
Ltd, BT Office Trust Ltd, Carinde Property Trust Ltd,
Centro Properties Ltd, Challenger International, Coca
Cola Amatil Ltd, Coles Myer Holdings Ltd, Colonial First
Property Trust, CMI Ltd, Commonwealth Bank Ltd, CRS
Ltd, DCA Group Ltd, Diversified United Investment Ltd,
Evans Tate Ltd, Flexi Property Ltd, General Property
Trust Ltd, Global International Ltd, Gribbles Group
Ltd, Gropep Ltd, Gunns Ltd, Hardman Resources, Hire
Intelligence International, Housewares International
Ltd, ION Ltd, John Fairfax Holdings Ltd, JR Recruitment
Ltd, Jupiters Ltd, Kaz Computer Services, Leighton Holdings
Ltd, Lend Lease US Office Trust Ltd, Lion Nathan Ltd,
LookSmart Ltd, MacArthur Coal, MacMahon Holdings Ltd,
McPhersons Ltd, MIA Group Ltd, Mirvac Group Ltd, National
Australia Bank, News Corp, Orica Ltd, Powerlan Ltd,
Qantas Ltd, RM Williams Ltd, Rural Press Ltd, Seven
Network Ltd, Snack Foods Ltd, Soul Pattinson Plc, Southcorp
Ltd, Suncorp-Metway Ltd, Technology One Ltd, Ticor Ltd,
Tuart Resources Ltd, Utilitiy Services Ltd, Volante
Group Ltd, Wesfarmers Ltd, Westfield America Trust Ltd,
Westfield Trust Ltd, Westpac Banking Ltd, WMC Ltd, Woodside
Petroleum Ltd, Woolworths Ltd, Yates Ltd, and Zimbabwe
Platinum Mines.
MAIN
REASONS FOR ACTIVITY
-
Resmed
lost 13.60% after warning that it will not meet
fiscal Q4 estimates.
-
Telstra
lost 1.87% after ABN AMRO and UBS Warburg cut their
financial estimates and downgraded the telecommunications
giant.
-
Retail
shares were strong on Friday as Australia's March
Retail Sales data was stronger than anticipated.
-
Futuris
lost 6.47% after warning that its industrial disputes
seen recently will affect its financial results.
-
BHP
Billiton gained 2.94% after reporting in the week
fiscal Q3 net profit of US$406 million. BHP Billiton
also announced that Brian Gilbertson will assume
the CEO position on July 1st, and the board approved
a US$355 million investment in the Atlantis gas
project.
-
Gold
shares closed generally lower despite a rise in
bullion prices to over US$310/ounce.
-
The
Australian dollar gained against the US dollar on
Friday.
-
The
London Stock Exchange (LSE) closed mixed on Friday
due to.............Visit our BusinessJeeves
UK & Ireland portal to read our summary
and analysis of the London Stock Exchange.
-
Properties
companies were strong on Friday.
-
Financial
services shares closed lower as economists expect
the Reserve Bank of Australia to start raising interest
rates as early as their meeting this coming week.
-
Westpac
Banking gained 0.19% after reporting first half
net profit that rose 10% to A$1.02 billion (US$551
million), which was above analysts' estimates. Westpac
also announced that it is selling its AGC Consumer
Finance unit to US based GE Capital for A$1.65 billion.
-
Qantas
Airways gained 0.90% after administrators Ansett
announced on Thursday that they have sold Ansett's
Sydney Airport domestic terminal to Sydney Airports
Corporation Ltd. (SACL) for A$200 million. The administrators
also announced on Friday that they have sold Ansett's
Melbourne Airport domestic terminal to Melbourne
Airport for an undisclosed amount. Also on Friday,
Qantas announced that it has signed a contract with
Air New Zealand to allow Air New Zealand to service
and maintain 15 of its Boeing 747s.
-
Orica
gained 2.19% on the eve of its earnings reports
on Monday.
-
ANOTHER
ADDITION: We now have services for Australia,
Canada,
South Africa,
UK &
Ireland, and United States. We will continue our
qualitative, informative, and useful content policies
at all our portals. Thank you for your support.
PICKS
FOR THE NEXT MARKET DAY
REASONS
BEHIND THE PICKS
- The
Reserve Bank of Australia meeting and earnings reports
from banks, etc. scheduled this coming week will
determine how the week closes.
- We
expect next week to be influenced by earnings reports
from the US.
Visit
our archives by clicking here.
<---D021--->
MARKET
SUMMARY FOR FRIDAY APRIL 26TH. 2002
AORD:
3329.20 = +5.10
S&P/ASX200:
3379.10 = +5.50
MOST
ACTIVE STOCKS & SECTORS
The
Australian market closed higher on Friday, despite the
short week due to the holiday on Thursday. Gainers Included:
AdultShop.Com, AMP Ltd, Anaconda Nickel Ltd, Anglogold
Ltd, ANZ Banking Group, Aquarius Platinum, Aristocrat
Leisure Ltd, Aurion Gold Ltd, Ausdoc Group Ltd, AWB
Ltd, AXA Asia Pacific, Bendigo Bank Ltd, Cellestis Ltd,
CIM Resources, Collection House Ltd, Commonwealth Bank
Ltd, David Jones Ltd, Housewares International Ltd,
Hutchison Telecom Ltd, Intellect Holdings Ltd, James
Fielding Ltd, John Fairfax Holdings Ltd, Leighton Holdings
Ltd, Lend Lease Ltd, Lihir Gold Ltd, Lion Nathan Ltd,
LookSmart Ltd, Macquarie Infrastructure Group Ltd, Mayne
Group Ltd, Medica Holdings Ltd, Metcash Trading Ltd,
MIM Holdings Ltd, National Australia Bank, National
Telecom Ltd, Newcrest Mining Ltd, News Corp, Oakton
Computing Ltd, Onesteel Ltd, OPSM Group Ltd, Oronto
International, Pacific Dunlop Ltd, Polartechnics Ltd,
Qantas Ltd, QBE Insurance Ltd, Quiktrak Network Ltd,
Ramsay Health Care Ltd, Sigma Company, Silex Systems
Ltd, Simsmetal Ltd, Sons of Gwalia Ltd, Spotless Group
Ltd, St. George Bank Ltd, Suncorp-Metway Ltd, Tabcorp
Holdings Ltd, Tap Oil Ltd, Village Roadshow Ltd, Vita
Life Sciences Ltd, Volante Group Ltd, Wattyl Ltd, Westpac
Banking Ltd, Woodside Petroleum Ltd, and Zimbabwe Platinum
Mines.
MAIN
REASONS FOR ACTIVITY
-
The
Government of Australia reported that its cash balances
for the first 8 months of the fiscal 2001/2002 ended
February was a deficit of A$7.606 billion.
-
ANZ
Banking Group gained 2.64% and led banking shares
higher after reporting first half profits that were
above estimates.
-
Casino
operator Burswood lost 5.26% after warning about
its fiscal Q3 results.
-
BHP
Billiton lost 3.51% after reporting that its Q3
production saw lower copper output and the poor
coal market won't help matters either. BHP Billiton
also have a strike at one of its South African mines.
-
Anaconda
Nickel gained 3.66% after announcing that its talks
to restructure US$420 million in debt are still
going on, and that output at its outback metals
plant saw a profit for the first time in the quarter
ended March.
-
Gold
shares and prices gained today.
-
The
Australian dollar gained against the US dollar on
Friday.
-
The
London Stock Exchange (LSE) closed lower on Friday
due to.............Visit our BusinessJeeves
UK & Ireland portal to read our summary
and analysis of the London Stock Exchange.
-
News
Corp gained 1.20% after investors felt the media
giant was oversold. Kirchmedia's Friday deal with
the German Football League to broadcast the league
games was also a plus - The German league title
this season is a down to the wire battle between
Bayer Leverkusen and Bayern Munich.
-
Telstra
lost 1.57% as global counterpart struggle to survive
on earnings worries and debt problems.
-
Tabcorp
Holdings gained 2.59% after Standard & Poor's
(S&P) stated that the company's planned 5%,
A$224 million share buyback will not affect its
ratings, and S&P has no plans to change its
outlook on the company.
-
Perilya
lost 2.27% despite announcing that the Broken Hill
mine it hopes to acquire from financially troubled
Pasminco has more zinc than previously estimated.
-
ANOTHER
ADDITION: We now have services for Australia,
Canada,
South Africa,
UK &
Ireland, and United States. We will continue our
qualitative, informative, and useful content policies
at all our portals. Thank you for your support.
PICKS
FOR THE NEXT MARKET DAY
REASONS
BEHIND THE PICKS
- We
expect next week to be determined b
|
