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Marcus Today End Of Day Report
BY HENRY JENNINGS - MARCUS TODAY COMMENTATOR - 25/05/2018
VIEW MORE ARTICLES BY HENRY JENNINGS

Today’s Headlines

  • ASX 200 limps to close -4 to 6033.
  • High 6039 Low 6017.
  • ASX 200 down 55 (0.9%) for the week.
  • Banks rebound on bargain hunting.
  • Resources slip on growth fears and profit taking.
  • WES sells UK business. TLS gets a buy recommendation.
  • Oil stocks run out of juice.
  • AUD steady at 75.57c
  • Bitcoin falls again to US$7590
  • AUD Gold rallies to $1302.
  • US futures up 60 on North Korean moves.
  • Asian markets slightly weaker with Japan down 0.22% and China CSI 300 down 0.35%

FUTURES AND HIGHS AND LOWS

MT STUFF

  • MARCUS CALL – Telstra upgrade. TPM in the press. Airlines running with the tide.
  • SMALL STOCK PORTFOLIO – Few changes this morning with more MUA added and some cash raised.
  • INSIDERS – Good press coverage for MWR, an insight from last week and a look at two tech plays that Morningstar has researched this morning.
  • TRADING PORTFOLIO – Two more stocks stopped out as the market rolls over the top. No stop losses raised.
  • INSIDERS CONNECT WITH US - We invite you to send us your own stock ideas. 

POINTS

STOCK STUFF

  • CIA +12.41% shipment of 1 millionth ton of iron ore
  • TLS +2.87% UBS says Buy.
  • RSG +4.42% exceptional drill results.
  • ALL +4.26% broker upgrades, hits jackpot.
  • AU8 – trading halt pending acquisition.
  • KDR -7.47% SQM comments on lithium market
  • ORE-4.49% GXY -1.66% follows KDR.
  • EPW -10.33% US outlook.
  • OLI -4.17% ceasing to be a substantial shareholder.
  • AKP +6.54% negligible volume.
  • VOC +2.52% short covering.
  • GXL +5.94% media speculation of private equity interest.
  • TTT +9.09% heavy demand.
  • BRN +7.14% company secretary appointment.
  • TWE +3.73% bargain hunters.
  • TNE +3.03% short covering.
  • HIG +18.18% gathering friends.
  • MND -1.00% broker downgrade.
  • Speculative stock of the day: Compumedics (CMP) +% signs major distribution agreement in China worth at least $15m
  • Biggest risers –CIA, WGX, BKL, NAN, RSG, ALL and APE.
  • Biggest fallers –KDR, HT1, ORE, JMS, SLC and SYR.

TODAY

  • Wesfarmers (WES) +0.91% The company has announced it has sold its UK Homebase business. Wesfarmers advises that it expects to record a loss on disposal of £200m to £230m in the Group’s 2018 full-year financial results. The divestment is expected to be completed by 30 June 2018. The company will share in some upside, 20%, if the new owners do well. Hilco is teaming up with existing management to take over the leases, liabilities, and business of Homebase and the 24 pilot stores under the Bunnings UK banner.
  • Commonwealth Bank (CBA) +0.40% the company has updated the market on the AUSTRAC current status. Ongoing mediations and discussions with AUSTRAC.
  • Sydney Airport (SYD) +1.12% AGM comments today from CEO, reaffirming the 2018 distribution guidance of 37.5c per stapled security. The new CEO Geoff Culbert has only been in the job for a few months. Some good numbers in the speech on the growth of tourism and the importance of China and also the focus now shifting to India as a potential growth market.

ECONOMIC NEWS

  • Nothing significant today.

BOND MARKETS

ASIAN MARKETS NEWS

  • Samsung has been ordered to pay Apple US$540m in a patent case. Like Apple really needs the money.

EUROPE AND US MORNING HEADLINES

  • US Secretary of Commerce will visit China in early June.
  • This is a great look. The boss of BT, in the UK, has got a big pay rise just a few weeks after sacking 13,000 people. He got a nice GBP2.3m bonus for his efforts including a performance bonus.
  • The White House gift shop has been lumbered with a batch of commemorative 'North Korea Peace Summit' coins, going cheap now it seems. Down to 20 bucks from 25. Deal of the day.

  • And finally this is so cool. A drone start-up called Zipline International delivers up to 500 packages a day in hard to reach areas like Rwanda. And what does it deliver? Blood bags. Some say it is the most significant delivery breakthrough since Amazon Prime. Certainly more worthwhile than a pair of Jimmy Choos.

 

ANNOUNCEMENTS

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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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