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Marcus Today End Of Day Report
BY HENRY JENNINGS - MARCUS TODAY COMMENTATOR - 11/12/2017
VIEW MORE ARTICLES BY HENRY JENNINGS

Today’s Headlines

  • ASX 200 up 4 to 5998 in quiet thin trade.
  • High 6015 Low 5990.
  • Early strength gives way to Christmas apathy.
  • CBA better with BHP and RIO pushing ahead.
  • CSL slips on profit-taking.
  • RFG savaged by Fairfax Media article.
  • Second bid for AWE.
  • Bid for TOX.
  • AUD rallies to 75.25c
  • US futures up 22. Bitcoin CBOE futures kick off. System crashes briefly.
  • Bitcoin surging in volatile trading again to over US$16,300. January futures +$3000.
  • Asian markets higher with China CSI up 0.41% and Nikkei up 0.28%.

MT Stuff:

  • MARCUS CALL – Bitcoin; and the international landscape in a nutshell – with a focus on the rise and rise of the S&P 500.
  • SMALL STOCK PORTFOLIO – A quick round up of Friday’s moves. And Henry’s cunning plan to take advantage of his cash position in this bull market.
  • SMALL CAP STOCK OF THE DAY – Read about Accent Group. And Henry’s hands on approach to gauging the retail landscape (ie: he went shopping).
  • INSIDERS – Two clever insights from our readers. One is an EFT, and another from the ubiquitous lithium space – PLH.
  • CONNECT WITH US - We invite you to send us your own stock ideas. We also have the facility for you to email us any questions. Click on the "Ask Marcus Today" button in the newsletter or below - Ask us anything:

Movers and Shakers

  • LYC +4.51% Trading on a normal basis.
  • AGL -0.23% to close Liddell as expected.
  • BWX +2.57% director resignation.
  • KDR +7.80% broker write up.
  • MSB +2.60% US attention. Teva rallies.
  • HT1 +3.15% Response to media speculation re EBITDA forecasts.
  • RFG -26.14% Fairfax media weekend article.
  • MIN -8.23% acquisition proposal for AWE.
  • CAN -7.85% sector capital raisings. Appendix 3B for 250c placement.
  • MLX +2.79% copper price gains.
  • MTS +4.19% UBS ceasing to be a substantial shareholder.
  • NCK -1.45% thin volume.
  • NOX +6.00% thin trade.
  • IAG +2.23% new quota share agreement.
  • Speculative stock of the day: Ookami (OOK) +41.67% Acquires a strategic stake in a blockchain company called Brontech. OOK will acquire 18.32% for $933k. One to watch.
  • Biggest risers – TOX, KDR, PME, LYC, PPH, and FXL.
  • Biggest fallers – RFG, MIN, CLQ, SIQ, and CTD.

ADVANCED EDUCATION COURSE - "Stock Picking for the Active Investor with Marcus Padley" - Click on the links below to book current events. These are close to selling out as well. The demand for stock market education is healthy. We are in the middle of adding numbers to the Melbourne events and launching our beginners course in Melbourne and Sydney. We are also adding a Perth Advanced course. Just have to lock in dates with the venue hire people.

The BEGINNERS EDUCATION COURSE – An Introduction to financial concepts, your investment options, where you are with Super, and an introduction to the stock market.


SECTOR PERFORMANCE

TODAY

  • Cleanaway Waste Management (CWY) offering to buy smaller rival Tox Free Solutions (TOX) +19.72% for 342.5c a share in cash, valuing Tox at $671m on a diluted basis. The Cleanaway offer is at a 20.6% premium to Tox's Friday close of 284c.
  • AWE +16.44% Looks like another party is interested in the stock with a counter bid emerging. Minerals Resources (MRL) has announced an 80c in scrip for the company. Positive for the share price. Game on. A scrip bid is not as attractive as a cash bid but clearly management and the board will be hoping that CERCEG ups its cash bid too. Waitsia 2 looks like the attraction.
  • Oz Minerals (OZL) +1.13% The company has confirmed wide copper zones at Jericho.
  • Alexium (AJX) -2.63% has announced an institutional placement to raise $12m and an SPP for $3m at 35c.
  • Get Swift (GSW) –3.75% Returned to trading after a successful $75m placement at 400c. Stories were that the placement was to raise $100m so this may be a little disappointing for the company. It announced that it was oversubscribed but given they were targeting $100m and only managed $75m it may weigh on the share price.
  • Retail Food Group (RFG) –26.14% The stock took a tumble this morning after Fairfax's inquiry into its franchise practices. The company has issued a warning that store owners should not air their grievances in public as they may be breaching their franchise agreements. More than 100 franchisees have come forward, describing life inside the "RFG machine."
  • Bitcoin Futures started trading this morning on the CBOE Global Exchange. Exchange circuit breaker tripped. CME starts next Monday with futures trading.
  • Optus will compensate 8700 customers for misleading NBN speeds.

ECONOMIC NEWS

  • NZ has named Adrian Orr as new Reserve Bank Governor. Orr is currently chief executive of the New Zealand Superannuation Fund and was previously a deputy governor at the RBNZ.
  • Update on data usage in Australia: Across all devices, 3.1 terabytes were downloaded over the June 2017 quarter, up 43% year-on-year, the Australian Communications and Media Authority latest report found.

BOND MARKET

ASIAN NEWS

  • Fitch has upgraded the Philippines’ sovereign rating, citing domestic demand and foreign direct investment as evidence for strong investor sentiment and forecasting robust growth in the medium term.
  • China is building a US$151m floating solar power plant in the province of Anhui. The world’s biggest is expected to come online by May 2018.

EUROPE AND US MORNING HEADLINES

  • Danske Bank A/S has attracted 11,500 clients to an investment service provided by a robot. The robot is called June. It targets retail clients and small businesses that normally wouldn’t have the resources to work out what to do with their surplus cash.
  • JPMorgan Chase & Co. predicts average interest rates across advanced economies will climb to at least 1% next year in what will likely be the largest increase since 2006.

  • A clearer picture should form this week when the Norges Bank, Fed,BOE, ECB and Swiss Central Bank announce their final policy decisions of 2017. They collectively set borrowing costs for more than a third of the world economy. At least 10 other central banks also deliver decisions this week.
  • Fitch has upgraded its rating on Iceland for the second time in five months.
  • More than $11tn of sovereign and corporate bonds traded with a yield below zero at the end of November, despite quickening global growth.

  • UK Brexit deal row intensifies. Ireland not happy Jan.
  • Uber will head to court today to fight its London ban, kicking off the first of two crucial legal battles over the next fortnight.

MARKET MAP



View More Articles By Henry Jennings

Henry Jennings has been involved in financial markets for over 35 years as both a trader and a broker in London and Sydney.

Starting his career in London trading derivatives and moving to Australia in 1989, Henry eventually settled at Macquarie Group, rising to become a Divisional Director responsible for Equity Trading in Australia. For the last decade, Henry has been involved in private client broking and now writes exclusively for the renowned financial newsletter Marcus Today. Henry regularly appears on ABC TV and Sky Business as a market analyst, commentator and strategist and has presented at various conferences most recently for the AIA on the Gold Coast.

To gain further insights from Henry Jennings, Marcus Padley and the Marcus Today team of analysts, click here to register for a free trial of the Marcus Today daily newsletter.



Important note: Any financial product advice contained in this email is general financial product advice only and does not take into account any one person's objectives, financial situation or needs. Therefore, before acting on any financial product advice in this email, you should consider, with or without the assistance of an independent adviser, the appropriateness of the advice, having regard to your objectives, financial situation and needs.
 

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