Nasdaq Retakes Record Lost in 2000 As U.S. Stocks Rise

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1 senmorgn 1 Nasdaq Retakes Record Lost in 2000 As U.S. Stocks Rise The Nasdaq Composite Index needed 31 months to plunge 78 percent after the Internet bubble burst in Climbing out of the hole took more than 12 years. Led by a 132-fold increase in Apple Inc. and a 13-fold jump in Google Inc., stocks in the gauge on Thursday cleared the record 5,048 threshold that taunted investors for 15 years as a symbol of dot-com excess. The Nasdaq has advanced more than 350 percent since bottoming in October 2002 after the slump erased about $6 trillion from American equity prices. The Standard & Poor s 500 Index gained 0.5 percent to 2,117.92, reaching an intraday record of 2, The Dow Jones Industrial Average added points, or 0.4 percent, to 18, European stocks declined as data showed euro-area output expanded at a slower pace in April, and Ericsson AB led technology shares lower. Unlike the dot-com era, when investors snapped up Internet companies with promise but little profit, today s gains are built on earnings that have almost tripled in the past decade and a half, driven by demand for products such as Apple s iphone and Google s web ads. Information technology, the biggest industry in the S&P 500 with a 20 percent weighting, accounted for 19.3 percent of the full index s operating earnings last year, data compiled by S&P Dow Jones Indices show. In 2000, when technology stocks commanded nearly a third of the gauge, the group s profits were 12.8 percent of the total. The Stoxx Europe 600 Index lost 0.4 percent to at the close of trading, having earlier tumbled as much as 1 percent and gained 0.4 percent. A report showed euroarea manufacturing and services missed forecasts, signaling it may take longer for European Central Bank President Mario Draghi s quantitative-easing plan to revive the economy. Germany s DAX Index slid 1.2 percent, among the worst in western-european markets, and France s CAC 40 Index dropped 0.6 percent as similar data from those countries also disappointed.

2 ASX Up Marginally As Iron Ore Rises The ASX was up 7.3pts, or.1 per cent, at pts on Thursday. Mining companies rallied after iron ore prices rose significantly overnight. The Metals and Mining sector rose 1.82 per cent. Much of the gains were hampered by weak Chinese manufacturing data. The flash HSBC-Markit Purchasing Managers Index PMI fell below the 50-point mark to 49.2 points in April. Gold companies also fell as gold prices slid to a three-week low. The All Ordinary Gold index was down 3.48 per cent. In US markets, the Dow Jones was up.49 per cent and the S&P 500 was up.51 per cent. In Europe, the DAX fell.60 per cent and the FTSE 100 fell.49 per cent. The Asian market has mostly continued its gains from the previous day. BC Iron (ASX:BCI) was up 14c, or per cent, at 40c per share. Iron ore price rose around 5 per cent overnight, causing a rally in the mining sector. The mining company also announced it had reduced mining costs in its March quarterly activities report. The Metals and Mining sector rose 1.82 per cent. Fortescue Metals Group (ASX:FMG) was up 18.5c, or 9.71 per cent, at $2.09 per share. In addition to the iron ore price rally, Fortescue shares are up as it raised US$2.3bn in an oversubscribed bond offer. Newcrest Mining (ASX:NCM) was down 50c, or 3.43 per cent, at $14.10 per share. In its March quarterly report released on Thursday, Newcrest revealed it had raised its gold production by 5.7 per cent. Gold production in its Cadia East project was particularly strong, rising 19 per cent. Australia & New Zealand Banking Group (ASX:ANZ) was down 23c, or.65 per cent, at $35.26 per share. ANZ has restarted talks to sell its $1.23bn stake in PT Bank Pan Indonesia. Regis Resources (ASX:RRL) was down 12.5c, or 9.23 per cent, at $1.23 per share. Australian gold miners took a dive on Thursday as gold slid to a three-week low. The ASX traded in a tight range yesterday. Chinese data was once again disappointing, however the majority of investors held on to their positions. ^XJO ASX (0.13%) 2

3 Quiet day for Asia with no economic data expected. 3 BC Iron Shares Skyrocket after Iron Ore Prices Jump Following BHP s Outlook Shares of BC Iron (ASX:BCI) have skyrocketed over 50 per cent on Thursday following positive data from both commodity prices and the company s March quarterly activities report. According to the Metal Bulletin, iron ore for delivery to the port of Qingdao, China traded up 5.9 per cent to US$54.04 per tonne. After falling over 70 per cent since 2011, the underlying price for the steel-making ingredient has risen 15 per cent in the month of April. BC Iron also released its March quarterly activities report, which revealed it had lowered its all in cash costs to A$57 per wet metric tonne for the quarter and A$52 per wet metric tonne for March. The average realised price came in at US$54 (A$69.70) per dry metric tonne. Like many other miners, BC Iron has been working to cut costs in the presence of falling commodity prices. The quarterly report said it would expect to cut costs by an additional A$2 to A$3 per wet metric tonne in the future. When adjusting for moisture, the exchange rate and shipping costs, the company could potentially make US$3 to US$5 per tonne. Managing director Morgan Ball said that although it was too soon to call it a recovery, there were still some positive indicators in the short-term. He also noted joint venture projects in Western Pilbara as potential growth opportunities in the future. This is a really good start and demonstrates the companies are working well together but we have to wait and see what it shows," he said. "If the size of the prize is big enough, we will continue talking with them around the best way forward." Shares of BCI are up 13.5c, or per cent, at 39.5c per share near the end of trading hours on Wednesday. BCI has fallen per cent in the last 12 months and per cent so far this year. Click here for more:

4 What s hot and what s not? HUO Daily Candlesticks Not Huon Aquaculture Group Limited (HUO) Huon Aquaculture Group Limited (HUO) focuses on farming, processing, marketing, and distributing fresh and value added Atlantic salmon and trout products in Australia and Asia. Its operations span all aspects of the supply chain, from hatcheries and marine farming to harvesting and processing, as well as sales and marketing. Huon s marine farms are located in the cool, pristine waters of Tasmania, with the Company s logistics infrastructure delivering salmon quickly and efficiency to the major fish markets around Australia. Huon s primary product is fresh HOG salmon, but the Company also sells a range of value added products. Salmon farmer Huon Aquaculture tumbled 20 percent to its lowest since listing six months ago after issuing a profit warning, citing Russian trade sanctions leading to a glut of Norweigian salmon pushing prices down before Easter, when many Australians consume fish Wise-owl.com What s involved? LOV HUO Historical Historical Prices Prices Salmon farmer Huon Aquaculture tumbled 20 percent to its lowest since listing six months ago after issuing a profit warning. Subscribers of wise-owl.com can now take advantage of a Full Service Advisor and Analyst Access Some of the benefits include: For more information call or visit Analyst Access 4 Contact one of our dedicated advisors for more information on SMS trade alerts Trade management

5 Float Watch Report: XPD XPD Soccer Gear Group Ltd XPD Soccer Gear Group Ltd ( XPD, the Company ) is an Australian manufacturing company focused on sporting goods. The Company is principally involved in the production of sports footwear. The Company commenced operations in 1992 and currently distributes XPD branded products to 1,900 retail outlets in China. XPD owns and operates a manufacturing facility located in Fujian Province, China with an annual capacity of approximately 4 million pairs of footwear IPO Report Offer Price $0.20 Listing 12 th May To view the report Click Here From the Analysts: (11/03/15) The story at the moment in the Australian economy is one of contrasts. While the stock market has broadly maintained the 7 year highs it reached last week, both business and consumer confidence has fallen again, with business confidence now at its lowest since before the 2013 election. Recent interest rate cuts and declines in fuel prices have failed to have the positive impact they had in the past. Unemployment is also at 12 year highs of 6.4% but median house prices continue to climb especially in the red hot Sydney market. The two speed economy has returned, but this time it s the strength of NSW, and to a lesser extent Victoria, juxtaposed against the weakness in the resource economies of WA and Queensland. Yesterday Alan Kohler postulated that the property market and associated industries remain the saving grace for an economy being buffered by continued falls in the iron ore price and business conditions. However, while Australia s triple A credit rating one of only 8 countries to have this from all three global agencies remains secure, speculation is mounting that an overheating property market and an apparent structural budget deficit could put this at risk. Anticipation of further monetary easing by the RBA has inflated the share prices of the major banks especially, but also many of the other blue chips such as BHP and Telstra. Wise-owl doesn t foresee a change to this pattern in the near term, as the hunt for yield from both domestic and international investors continues. Overseas investors will be especially tempted by our falling AUD relative to their own currencies, especially those investing with USD and Sterling. This macroeconomic effect should give the market significant support through 2015 despite broader economic difficulties. Robert Lester Advisor at Wise-owl 5

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