Stoxx Europe 600 at 4-month low ASX SPI Futures down 29 points Powered by wise-owl.com
YESTERDAY IN THE INTERNATIONAL MARKETS Global Ticker Daily Change U.S. Stocks Slide over 3% ahead of Presidential Election The S&P 500 Index extended its longest losing streak in more than three decades, as data bolstered speculation interest rates will rise before year-end and investors remained wary before the looming presidential election. Crude s biggest weekly drop since January weighed on oil and gas producers. The S&P 500 fell 0.2 percent to 2,085.18 at 4 p.m. in New York, after erasing a 0.5 percent advance. The gauge has retreated 3.1 percent over nine days, the longest since 1980 when it dropped 9.4 percent. The CBOE Volatility Index rose for a ninth session. European stocks suffered a late selloff but still manged to halt their longest losing streak in two years amid some better-than-expected earnings from the region s banks, and as a U.K. ruling sparked optimism the nation s split from the European Union won t be as harsh as feared. S&P 500-0.17% Dow Jones -0.24% NASDAQ -0.24% STOXX 600-0.83% FTSE 100-1.43% DAX30-0.65% Crude Oil -1.32% Gold +0.09% The Stoxx Europe 600 Index slid 0.8 percent, marking an 11th consecutive day without gains. For the week the European benchmark Index slumped 3.5 percent. Sending the Stoxx 600 to a four-month low.
THE ASX YESTERDAY IN REVIEW AUS Ticker Change ASX Falls 1.9% to Post Third Straight Week of Losses The Australian share market finished the week in the red as banks, miners and energy shares retreated. Australia s benchmark index ASX 200 plunged below the 5,200 level last week as the Volatility Index surged to the highest level since June. Investors sold off high-risk assets and turned to perceived safe haven assets such as treasuries or gold. The S&P/ASX 200 fell 44.8 points or 0.9 per cent on Friday to conclude the week at 5,180.8 points. The index lost 103 points or 1.9 per cent over the five days. Last week official data showed that the Australian trade deficit has narrowed to $1.23 billion in September, the smallest deficit since December 2014. Australian retail sales expanded 0.6 per cent in September after a 0.5 per cent rise in August. In a widely expected move, the Reserve Bank of Australia (RBA) decided to keep interest rates on hold at a record low of 1.50 per cent. ASX 200-0.86% ALL ORDS -0.82% CBA -0.87% BHP -1.72% ANZ -1.50% WOW -0.13% ADA +5.19% COE +1.61% OZL +3.85%
DAILY PRICE ACTIVITY AUSTRALIA ASX200 price action yesterday
UPCOMING DIVIDENDS Tasty dividends & distributions DATE CODE COMPANY ANNOUNCEMENT CODE COMPANY NAME EX DIVIDEND PAY DATE AMOUNT FRANKING % NAB National Aust. Bank 04 Nov 2016 13 Dec 2016 99.00 100.00 BIS Bisalloy Steel Group 07 Nov 2016 30 Nov 2016 2.50 100.00 IPE IPE 08 Nov 2016 25 Nov 2016 3.80 0.00 IPE IPE 08 Nov 2016 25 Nov 2016 2.20 100.00 MQG Macquarie Group 08 Nov 2016 14 Dec 2016 190.00 45.00 YTMQF3 -- 08 Nov 2016 24 Nov 2016 387.50 0.00 BKW Brickworks 09 Nov 2016 30 Nov 2016 32.00 100.00 RMD ResMed 09 Nov 2016 15 Dec 2016 3.30 0.00 GSBI28 TB 2.25% 05-28 6M 10 Nov 2016 21 Nov 2016 112.50 -- GSBU20 TB 1.75% 11-20 6M 10 Nov 2016 21 Nov 2016 87.50 -- GSBU27 TB 2.75% 11-27 6M 10 Nov 2016 21 Nov 2016 137.50 -- Courtesy of http://www.morningstar.com.au/stocks/upcomingdividends
WHATS HOT? WHATS NOT? OZL.asx - steaming hot PTM.asx - cooling down DATE CODE COMPANY ANNOUNCEMENT Wise-owl pick OZ Minerals (OZL) hit a fresh 4- year high on Friday, bringing the year-to-date return to 73 per cent. Copper and gold prices have recovered strongly last week which traditionally supports OZL. OZ Minerals is generating free operating cashflow and has a strong balance sheet with surplus cash and no debt. We maintain our hold advice and reiterate our target of $7.50 per share. Shares of Platinum Asset Management have fallen nearly 40 per cent since the beginning of the year and are trading at the lowest level in over three years. Australian investors have reduced exposure from this fund manager which is focused on international shares, predominantly U.S. equities. Wise-owl recommended to sell PTM at $6.21. The stock closed at $4.87 on Friday.
ECONOMIC NEWS What to look out for: DATE CODE COMPANY No economic news for Australia
LATEST UPDATE FROM WISE-OWL Cooper Energy Ltd (COE) Growth Portfolio: CODE COMPANY Cooper Energy Ltd (COE) ANNOUNCEMENT Cooper Energy Ltd ("Cooper", "the Company") is an Australian oil and gas exploration and production company with oil assets in the Cooper Basin and gas resources in the Gippsland and Otway Basin. Following recent acquisitions from Santos, Cooper has now a 100% interest in the Sole Gas Project and the Orbost Gas Plant and total proved and probably reserves of 11.6MMbo. Cooper has operations in Australia, Indonesia and Tunisia. Cooper Energy offers speculative exposure to domestic east coast gas demand. We are attracted to the scale of undeveloped resources, upcoming funding decision and balance sheet. Procurement of funding and integration risks are the primary hurdles. Cooper Energy is positioned to address a tightening gas supply landscape in East Australia and the upcoming offtake agreement for the Sola Gas Project could transform the company and present a near-term driver. Estimated to increase production 4-fold during FY17 we initiate coverage with a 'speculative buy' recommendation. ASX:COE Spec Buy Price: $0.31 Target $0.70 Stop: $0.21 Outlook: 12m+ Click here to view full report
OUR VIEWS AT A GLANCE Find below a summary of Wise-owl s current market views CODE COMPANY ANNOUNCEMENT We continue to focus on small-mid cap stocks There are individual opportunities on the ASX 200 We feel comfortable with our exposure to the gold sector We see little upside for US stocks in the medium-term
A WISE-OWL PUBLICATION Presented by Simon Herrmann DATE CODE COMPANY ANNOUNCEMENT Wise-owl.com Discovering the Bluechips of Tomorrow www.wise-owl.com Wise owl specializes in identifying emerging companies and financial market trends very early in their life cycle. The significant capital growth that often follows has earned wise owl a formidable reputation for discovering the bluechips of tomorrow. Investors, executives, and institutions harness this expertise through wise owl s research, and capital market services. Phone: 1300 306 308 Phone (Int.): +61 2 8031 9700 Fax: 1300 304 306 Post: Suite 4.02 Level 4,139 Macquarie St, Sydney, 2000 Email: info@wise-owl.com Follow us on Twitter Like us on Facebook Linkedin Add me on Linkedin: https://au.linkedin.com/in/herrmannsimon
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