Marcus Today End Of Day Report
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- ASX 200 closes 10 points higher to 5959.
- High 5982 Low 5933. Quiet trade ahead of FOMC.
- ANZ and CBA’s turn in the RC spotlight.
- Banks remain under pressure.
- Miners and energy stocks positive.
- WES down down. Prices are down.
- AUD slipping down to 76.93c.
- Bitcoin rallies slightly up to US$8,214.
- US futures down -63.
- Asian markets mixed with Japan down -1.06% and China CSI up +0.06%.
FUTURES AND HIGHS AND LOWS
- MARCUS CALL – Volatility is still elevated but best we assume the Bull Market is "Back on". David Paradice's buys and sells.
- SMALL STOCK PORTFOLIO – We still have 53% cash which is probably sub-optimal in the current environment but are happy to be patient. We have 15 stocks currently and will build it to 20 in the coming weeks if the market behaves.
- INSIDERS –Thanks to ‘Bombers76’ for his recommendation on CUV. We also release our weekly update on Insight offerings and the latest leaderboard.
- INVESTMENT FOR BEGINNERS – Marcus has been running the Marcus Today Education course for beginners. It is aimed at teaching basic concepts of finance but includes a section about “Your Super”, including: What is it; Where is it; How to manage it.
- 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:
Advancers and Decliners
- KDR +5.16% upgrades resource.
- BYE +4.92% buyers return.
- CUV +4.28% insiders today and positive announcement.
- BDR -16.85% merger with Canadian group.
- GSC +5.05% Rhyolite Ridge update.
- TWR – unchanged - director resignation.
- IFT -5.70% 725 shares traded.
- BAL +5.29% fresh record high. Top performer.
- EVN +2.44% update on restructure of TCMF JV.
- NUH -14.81% profit taking.
- OGX -trading halt - raising $15m in placement at 12c.
- SGH -13.52% thin trade.
- Z1P -6.04% profit taking.
- COH -0.90% ex dividend.
- ASB -0.28% completes LC acceptance trial.
- BXB +2.38% broker upgrade.
- Speculative stock of the day: Patrys (PAB) +9.26% after more successful test results from animal model in Glioblastoma increases survival.
- Biggest risers – AJM, BAL, KDR, HLO, GSC and NWH.
- Biggest fallers – APT, AVZ, TGR, SYR and AAC.
- Woodside Petroleum (WPL) +1.51% announced a new executive incentive structure. Main point being that 60% of remuneration rewards will be deferred for a five-year period so executives will ‘deliver on objectives with discipline and collaboration’ to ‘create shareholder value’. The company said that 12.5% will be paid in cash.
ALL ORDS SECTOR SUMMARY
ALL ORDS TOP MOVERS
ALL ORDS BOTTOM MOVERS
ASX 200 SECTOR SUMMARY
ASX 200 TOP MOVERS
ASX 200 BOTTOM MOVERS
BOND MARKET UPDATE
- The ASX has tightened its listing rules to clamp down on companies over-hyping customer contracts and will force the disclosure of past misconduct by directors.
- National Australia Bank is discounting home buyer rates by 142bps in its first rates move since the Commission grilling last week. The loans for principal and interest, owner occupier loans have been reduced to 3.69%. The new rate, which is being promoted through its broker network, is a 1.42% discount off the current advertised rate for the base variable rate home loan.
ASIAN MARKETS NEWS
- China has named Yi Gang to run its central bank, elevating a long-serving deputy governor with deep international links to the forefront of efforts to clean up the nation's financial sector and modernise monetary policy.
- Chinese house prices rose 5.2% in February. Prices gained in 44 cities in February, versus 52 in January.
- Japanese exports eked out a fifteenth consecutive month of growth in February as an increase in shipments to the US helped to offset an almost double digit fall in exports to China.
- Japanese PM, Abe has seen his popularity fall to a record low on the recent scandal according to a weekend poll.
- Alibaba Group will invest another $2 billion in Southeast Asian online mall, Lazada Group SA and will install one of its most senior executives to run the business.
EUROPE AND US MORNING HEADLINES
- Boris Johnson has accused the Russians of stockpiling nerve agents as Moscow has 'thanked' the UK for Putin’s huge victory.
- Stormy Daniels may face a US$20m law suit from Trump’s lawyer.
- Cambridge Analytica is under fire on its use of Facebook data. UK TV will be airing another look at some of the practices and statements made.
- In the UK, Rolls Royce is looking at new technology using a new polymer that can create a capacitor, or energy storage, which is between 1,000 to 10,000 times more effective than existing materials. This “supercapacitor” could provide the bridge between systems which are quick to charge and quick to release small amounts of energy and those, such as lithium-ion batteries, which are slow to charge but last longer. It could allow electric vehicles to charge up fully within a few minutes and last as long as today’s electric cars. Maybe they need the flux capacitor.
- In London all new black cabs are mandated to be electric. Funnily enough Geely, a Chinese car maker is making the new cabs with its UK subsidiary, the London Electric Vehicle Company. The new cab has wifi, glass ceiling and aircon. And it is silent. Trouble is it only has a 50-mile range. Most cabs do 120 miles a day.
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.
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