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SHARECAFE COMMENTARY

Marcus Today End Of Day Report
BY HENRY JENNINGS - MARCUS TODAY COMMENTATOR - 29/01/2018
VIEW MORE ARTICLES BY HENRY JENNINGS

Market summary

  • ASX 200 closes 25 points higher at 6075 as gains pared at the close.
  • High 6090 Low 6054. Good volumes.
  • CBA gets new CEO.
  • Banks grind higher. Energy joins in as telcos bounce.
  • CSL up as US flu season continues.
  • BHP left behind with golds suffering and FMG in dog house.
  • AUD staying strong at 80.92c.
  • Bitcoin US$11,352 despite cyber heists.
  • US futures up 34.
  • Asian markets slightly weaker with CSI 300 down 0.46% and Japan up 0.20%.

FUTURES AND HIGHS AND LOWS

MT Stuff

  • MARCUS CALL – A weekly warning as Wall Street rolls on.
  • SMALL STOCK PORTFOLIO – Henry talks about one resource stock he’s eyeing off. And Zip Co (Z1P) is flying  on results. Time to take some profits? Maybe.
  • TRADING PORTFOLIO - No new trades. Four stop losses raised.
  • INSIDERS – We have two great Insider insights today – a technical buy on OOO and a buy on rare earths play, NTU.
  • INSIDERS 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:

https://marcustoday.com.au/webpages/images/report/20171016/askmarcusbutton.jpg https://marcustoday.com.au/webpages/images/report/20171016/tellusyourstockideas.jpg

Advancers and Decliners

  • AWE +16.47% third bidder Mitsui with a 95c cash bid.
  • ORE +5.66% broker upgrade.
  • SEK +0.25% organisational changes.
  • CSL +1.55% broker turns positive as flu season helps.
  • CBA +0.69% new CEO Matt Comyn announced.
  • ILU +4.85% production numbers.
  • BYE +10.34% positive drill results from SM71.
  • COE +4.55% benefits on AWE bid.
  • CWN -0.08% finalises Las Vegas sale.
  • AMA +4.85% private equity comes courting.
  • SWM +2.70% NEC +1.82% ratings war and Cricket broadcasting rights focus.
  • TLS +1.69% finding support.
  • IPL -0.80% management restructure.
  • TWE +1.83% Macquarie upgrades PT.
  • FMG -0.20% quarterly out tomorrow.
  • JBH +1.48% JP Morgan upgrades.
  • Z1P +22.11% good quarterly.
  • PHK +12.00% good quarterly report.
  • AGO -16.13% negative quarterly report.
  • BUD -4.76% falls continue.
  • BOT +23.08% successful acne study results.
  • Speculative stock of the day: Knosys (KNO) +118.18% after announcing a $6m contract with Singtel for the deployment of the knowledge management platform, Knowledge IQ.
  • Biggest risers – AWE, FXJ, ORE, ILU, AMA, KDR and S32.
  • Biggest fallers – WGX, NST, GOR, SAR, RRL and RSG.

ALL ORDS SECTOR SUMMARY

ALL ORDS TOP MOVERS

ALL ORDS BOTTOM MOVERS

ASX 200 SECTOR SUMMARY

ASX 200 TOP MOVERS

ASX 200 BOTTOM MOVERS

TODAY

  • Commonwealth Bank (CBA) +0.69% The bank has named an internal candidate, Matt Comyn to replace Ian Narev in April. After a world-wide search, he was at CBA all the time.
  • AWE +16.47% Yet another bid announced this morning. Now three parties vying for the company. Mitsui has entered the race with a 95c cash bid. The bid is unsolicited and non-binding together with some conditions.
  • Synlait (SM1) -2.15% Forecast milk price remains steady at $6.50 kgMS for the season. Next update in May but the recent strength has helped after a period of weakness since October.
  • Iluka (ILU) +4.85% zircon/rutile/synthetic rutile production volumes are up 22% at 825k tonnes. Market conditions have remained robust in mineral sands and the outlook is positive. Net debt reduced to $183m on stronger cash flow and a strengthening AUD which has revalued USD debt.
  • Byron Energy (BYE) +10.34% Third successful well at SM71 with total depth reached of 7,717 ft in 22 days.
  • CleanTeq (CLQ) -1.02% the company has signed a additional breakthrough contract with Multotec in Africa. The deal to design, supply and commission a metals processing plant will use CLQ technology. The project has a value of around $2m.
  • Zip Co (Z1P) +22.11% Quarterly update with transaction volume up $45m to $140m, a 47% increase and exceeding guidance. Record quarterly revenue of $9.3m up 35%. Operating costs stabilised. Merchants grew by 31% to over 1800 new merchants including Kogan and Anaconda.

ECONOMIC NEWS

  • Citi has lifted its ASX 200 target from 6,400 to 6,600 by December 2018 driven by higher resources earnings estimates. Citi is now the most optimistic of the big brokers.
  • Sydney's auction clearance rate was a healthy-sounding 82.4% this weekend but it was from just 22 auctions, according to Domain. At the same time last year, Sydney auctions cleared 65.3% across 55 listings.
  • Melbourne maintained a steady 66.7% across 19 auctions, a similar rate to last year when volumes were twice as high.

BOND UPDATE

ASIAN NEWS

  • Japanese exchange Coincheck says it will spend up to 46.3 billion yen ($US426m) to pay back customers after it was hacked and lost cryptocurrency worth some US$530m.

Let’s talk bubbles.

  • The China H-share gauge has rallied now for the 715th day, one of the longest in its 23-year history.

EUROPE AND US MORNING HEADLINES

  • US Flu season is getting bad and some estimate that up to 50k people will die as a result of the flu. The season is shaping up to be similar to the epidemic of late 2014 and early 2015, which brought 710,000 hospitalizations and 56K deaths, according to the CDC. Explains why CSL is rallying.
  • Tuesday is State of the Union address. FOMC this week too.
  • Leaders from the world’s biggest economies are planning to discuss a global regulatory framework for cryptocurrencies at the next G20 summit in March.

 

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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