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Market Wrap - 19 December 2014

Posted by BBY on 19 December 2014

Market Wrap

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Overnight Points of Interest

Posted by Graham Parlane on 19 December 2014

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Good morning

This will be my last OPI for the year and I will return to print on Jan 12th. It’s been another fascinating year with the big decline in the NZD just what the doctor ordered and further declines for the ‘bird’ next year remains one of my favourite themes. Merry Christmas to you all. Have a great break and we look forward to another prosperous new (trading) year.

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Market Wrap - 18 December 2014

Posted by BBY on 18 December 2014

Market Wrap

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Market Wrap - 17 December 2014

Posted by BBY on 17 December 2014

Market Wrap

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Market Wrap - 16 December 2014

Posted by BBY on 16 December 2014

Our local share market opened in the red today as a big night of losses on Wall St and Europe as well as tumbling oil prices weighed on energy and resources stocks. The Miners and energy sector combined to send the index lower, with the sustained volatility in commodities having a continued negative effect on our market. 
BHP dropped 3.2% while Tinto fell 1.6%. After some relief yesterday, the energy sector resumed its steep slide down 2.1% with Woodside falling 2.6% and Oil Search 2.8%. At the closing bell the ASX200 finished down 0.7% to 5152.3 pts, extending its recent rout to 7.2% in what was another tough day.   
We saw a brief bounce back in the market following today’s release of the RBA Minutes. The minutes of the December board meeting showed members believed our local unit is still too high and needed to fall to aid growth in the economy, especially with the recent falls in commodity prices. While the RBA did reiterate its view that the current stance of monetary policy was appropriate for fostering sustainable growth, it noted market expectations implied some chance of easing of monetary policy during 2015.  Given the current state of economic growth and employment you would assume that interest rates to head south back towards 2%. 
In other economic releases, consumer confidence for the week ending 14 December slipped 0.2% to its lowest level in 5 months according to the ANZ-Roy Morgan weekly consumer confidence survey. “The key question now is whether this drop in confidence is sustained and slows consumer spending in the crucial shopping period” said ANZ Chief Economist, Warren Hogan. 
On the data front, HSBC’s Manufacturing purchasing managers index (PMI) for China came in today at 49.5, below the market expectation of 50.0. This figure indicates activity in China’s factory sector contracted in December for the first time in seven months, fuelling expectations that more stimulus measures will be needed to prevent a steeper economic slowdown.

Market Wrap 

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Market Wrap - 15 December 2014

Posted by BBY on 15 December 2014

Market Wrap 

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Market Wrap - 12 December 2014

Posted by BBY on 12 December 2014

Market Wrap

The local share market began the day in red, with the ASX200 Index down 17 points at 5213.6, as the energy sector continued to feel pressure from falling oil prices. Energy recovered by the end of the day, with Origin up 3.3% and OSH up 1.6% Despite this, the ASX200 finished off 11 points lower at 5219.6, and 2% lower for the week as mining shares dropped. BHP finished at 1.9% and Rio Tinto by 2.5%. , after a Rio Tinto executive doubted ore prices would be reaching US$100/tonne.

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