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30/11/2015 Argonaut Morning Note

    Home Stockbroking & Research Morning Notes 30/11/2015 Argonaut Morning Note
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    30/11/2015 Argonaut Morning Note

    By admin | Morning Notes | 0 comment | 29 November, 2015 | 0

    Overseas Market Report – Stocks Finish Changed After Thanksgiving Holiday

    U.S. stocks finished little changed amid thin volumes following the Thanksgiving holiday.

    At the close, the Dow was off 0.1%, the S&P 500 was flat and the NASDAQ was up 0.2%.

    For Australian ADRs listed on the NYSE, BHP Billiton slipped 56 cents (2.03%) to $26.97, ResMed gained 48 cents (0.81%) to $60.02, Telstra Corporation remained flat at $19.33, Spark New Zealand fell 3 cents (0.28%) to $10.67 and Westpac declined 1 cent (0.04%) to $22.93.

    At 7:45 AM (AEDT), the 10-year Treasury note yield was 2.22% and the 5-year yield was 1.64%.

    European markets were lower. The FTSE 100 and French CAC 40 each fell 0.3%, while Germany's DAX was 0.2% lower.

    Asian shares were mainly lower. The Shanghai Composite staggered 5.5%, the Nikkei 225 was off 0.3% and the Hang Seng fell 1.9%. India's Sensex was up 0.7%.

    Australian Market Report – Local Market Expected To Open Flat

    Ahead of the local open, SPI futures were 1 point lower at 5,206.

    Friday 27 November – close. Local stocks opened higher this morning, following positive leads from global equity markets. However, the local sharemarket lost its momentum after hitting an intraday high to finish slightly below the red line, with index heavyweights TLS and ANZ leading the retreat. There were mixed results from the sectors; energy gained most significantly while utilities lagged behind the rest. The Australian dollar gained against most major currencies.

    The All Ordinaries slid 8.30 points to 5,251.40 while the S&P/ASX 200 dropped 8.10 points to 5,202.60.

    In this Issue

    Rio Tinto (RIO)
    Rio Tinto announced that the Company will expand output of bauxite deposits following approval of the $1.9bn Amrun project. Amrun involves the construction of a bauxite mine and associated processing and port facilities on the Cape York Peninsula in north Queensland. The planned initial output is 22.8Mt a year, replacing production from the depleting East Weipa mine and increasing annual bauxite exports from Cape York by around 10Mt. Production and shipping are expected to commence in the first half of 2019, ramping up to full production by the end of the year.

    Qantas Airways (QAN)
    Qantas Airways announced that the Group capacity increased by 3.2% and the Group demand increased by 4.8%, resulting in a Group revenue seat factor of 81.4% which was 1.3% points higher than the previous October 2014. Group Domestic capacity in the month was 2.5% lower compared to the pcp, with growth on East Coast routes offset by adjustments to address resource market softness in WA and Qld. Group capacity increased by 3% and demand increased by 4.4%, resulting in a Group revenue seat factor of 81.2% which was 1.1% points higher than the 2014. The Group Revenue per Available Seat Kilometre (RASK) was higher compared to the pcp. The Group International RASK was higher compared to the pcp.

    Recent Contacts & Presentations
    Independence Group (IGO), MZI Resources (MZI), Paringa Resources (PNL), Orbital (OBS), Peet (PPC), Pacific Energy (PEA), Ausdrill (ASL)
     

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