Interdum stultus opportuna loquitur...

Friday, February 11, 2005

OzRant: Banks Soft, Narrow Range... Some Rotation...

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Major Market Indices

The broad market - the ASX All Ordinaries - rose by 0.70 points (0.02%), finishing at 4160.70 points. The index hit an intraday high of 4169.90 and its low was 4158 - a typically narrow Friday trading range. The Index thatforms the cash basis for the SFE's Share Price index Futures - the S&P/ASX 200 - fell by 0.60 points (-0.01%), finishing at 4174.30 points. that's what you call "boring". At least the big caps (mainly the banks) actually moved...

The "heavy hitters" of the Australian market - the ASX 20 Leaders - fell by 7.60 points (-0.34%), finishing at 2229.90 points. Within the index members, there were 7 that rose, and 11 losers. Total volume in rising issues within the ASX20 amounted to 20.53 while volume in the losers totalled 66.04m units.

The major winners in the "big guns" were -

  • Woodside Petroleum (WPL), +$0.60 (2.99%) to $20.70 on volume of 1.17m shares;
  • QBE Insurance Group (QBE), +$0.29 (1.89%) to $15.66 on volume of 1.99m shares;
  • St George Bank (SGB), +$0.22 (0.87%) to $25.42 on volume of 2.11m shares;
  • BHP Billiton (BHP), +$0.09 (0.54%) to $16.67 on volume of 10.82m shares; and
  • Wesfarmers (WES), +$0.10 (0.25%) to $40.30 on volume of 669,000 shares.

The following stocks made up the biggest percentage losers in the big-guns: if you think it looks like a list of banks with one "company run by hostile-takeover-crazed fools whose wine strategy looks dopey", you would be right.

  • National Australia Bank (NAB), -$0.48 (1.58%) to $29.97 on volume of 3.92m shares;
  • Commonwealth Bank Of Australia. (CBA), -$0.49 (1.32%) to $36.60 on volume of 7.67m shares;
  • Westpac Banking Corporation (WBC), -$0.23 (1.14%) to $19.90 on volume of 5.05m shares;
  • Foster's Group (FGL), -$0.05 (0.94%) to $5.27 on volume of 2.93m shares; and
  • Australia And New Zealand Banking Group (ANZ), -$0.18 (0.82%) to $21.65 on volume of 4.54m shares.

At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index - the only place where underexploited value exists with any regularity - rose by 12.80 points (0.54%), finishing at 2404.00 points. The major winners in the "pop-guns" were -

  • Psivida (PSD), +$0.11 (11%) to $1.11 on volume of 938,000 shares;
  • Jubilee Mines (JBM), +$0.43 (8.01%) to $5.80 on volume of 1.34m shares;
  • Sino Gold (SGX), +$0.11 (5.85%) to $1.99 on volume of 78,000 shares;
  • Lynas Corporation (LYC), +$0.02 (5.36%) to $0.30 on volume of 225,000 shares; and
  • Circadian Technologies (CIR), +$0.10 (5.13%) to $2.05 on volume of 45,000 shares.

The losingest-little-guys for the session were (in order of decline):

  • Norwood Abbey (NAL), -$0.03 (5.08%) to $0.56 on volume of 1.17m shares;
  • Adelaide Brighton (ABC), -$0.08 (4.42%) to $1.73 on volume of 5.02m shares; and
  • Kresta Holdings (KRS), -$0.02 (3.57%) to $0.54 on volume of 224,000 shares;
  • Austal (ASB), -$0.07 (3.55%) to $1.90 on volume of 314,000 shares; and
  • AV Jennings Homes (AVJ), -$0.05 (3.13%) to $1.55 on volume of 74,000 shares.
CodeNameClose+/-%Volume
XAOAll Ordinaries4160.70.70.02%526.35m
XTLS&P/ASX 202229.9-7.6-0.34%97.88m
XFLS&P/ASX 504101.7-4.9-0.12%0
XTOS&P/ASX 1003391.4-2.1-0.06%0
XJOS&P/ASX 2004174.3-0.6-0.01%0
XKOS&P/ASX 3004180.5-0.4-0.01%0
XMDS&P/ASX Mid-Cap 504130.711.30.27%0
XSOS&P/ASX Small Ordinaries240412.80.54%146.31m

All Ordinaries Market Internals

XAOXSOASX20
Advances212967
Declines1525911
Advancing Volume259m64.09m20.53m
Declining Volume175.72m49.73m66.04

S&P/ASX200 GICS Sector Indices

With the entire energy complex on a two-day bender, it's no surprise that the top ASX Gyeacchs sector for the day was Energy which gained 0.97% to 7339.10 points. The sector was helped by

  • Caltex Australia (CTX), +$0.42 (3.7%) to $11.77 on volume of 274,000 shares;
  • Tap Oil (TAP), +$0.06 (3.39%) to $1.83 on volume of 954,000 shares;
  • Woodside Petroleum (WPL), +$0.60 (2.99%) to $20.70 on volume of 1.17m shares;
  • Arc Energy (ARQ), +$0.05 (2.87%) to $1.79 on volume of 262,000 shares; and
  • Oil Search (OSH), +$0.05 (2.49%) to $2.06 on volume of 2.34m shares.

Second in the sector leadership stakes was Information Technology which gained 0.94% to 419.90 points. The sector leaders were -

  • Vision Systems. (VSL), +$0.05 (3.97%) to $1.31 on volume of 434,000 shares;
  • Infomedia Ltd (IFM), +$0.02 (3.17%) to $0.65 on volume of 1.62m shares;
  • IRESS Market Technology (IRE), +$0.05 (1.2%) to $4.20 on volume of 607,000 shares;
  • Baycorp Advantage (BCA), +$0.03 (0.91%) to $3.31 on volume of 536,000 shares; and
  • Computershare. (CPU), +$0.05 (0.78%) to $6.44 on volume of 494,000 shares.

The bronze today went to Materials which gained 0.69% to 6957.80 points. The sector was led by

  • Jubilee Mines (JBM), +$0.43 (8.01%) to $5.80 on volume of 1.34m shares;
  • Kimberley Diamond Company. (KIM), +$0.04 (4.4%) to $0.95 on volume of 4.92m shares;
  • Zinifex (ZFX), +$0.12 (4.27%) to $2.93 on volume of 3.39m shares;
  • Newcrest Mining (NCM), +$0.64 (4.03%) to $16.54 on volume of 2.29m shares; and
  • WMC Resources (WMR), +$0.21 (2.8%) to $7.70 on volume of 33.81m shares.

The worst-performed sector today was ASX200 Financials ex Property Trusts which lost 0.54% to 5109.50 points - largely on a little bit of profit taking in the major banks. The sector was dragged lower by

  • National Australia Bank (NAB), -$0.48 (1.58%) to $29.97 on volume of 3.92m shares;
  • Adelaide Bank (ADB), -$0.16 (1.44%) to $10.95 on volume of 225,000 shares; and
  • Commonwealth Bank Of Australia. (CBA), -$0.49 (1.32%) to $36.60 on volume of 7.67m shares;
  • HHG Plc (HHG), -$0.02 (1.27%) to $1.56 on volume of 15.43m shares; and
  • IOOF Holdings (IFL), -$0.10 (1.15%) to $8.60 on volume of 59,000 shares.

Just in front of last place on the sector table was Telecommunications which lost 0.48% to 1869.40 points. The sector was pulled down by

  • Telstra Corporation. (TLS), -$0.03 (0.57%) to $5.27 on volume of 27.06m shares; and
  • Telecom Corporation Of New Zealand (TEL), unchagned at $5.78 on volume of 693,000 shares.
CodeGICS SectorClose+/-%Volume
XEJEnergy7339.170.50.97%17.33m
XIJInformation Technology419.93.90.94%5.37m
XMJMaterials6957.847.40.69%120.03m
XDJConsumer Discretionary2313.77.30.32%41.54m
XUJUtilities4712.6140.3%3.74m
XNJIndustrials5095.911.80.23%30.39m
XSJConsumer Staples54458.50.16%32.14m
XPJProperty Trusts1837.6-5.4-0.29%62.98m
XHJHealthcare4787.8-18.9-0.39%6.6m
XFJFinancials5044.9-24.5-0.48%119.91m
XTJTelecommunications1869.4-9.1-0.48%27.75m
XXJASX200 Financials ex Property Trusts5109.5-27.5-0.54%61.83m

All Ordinaries Volume Leaders

CodeNameClose+/-%Volume
WMRWMC Resources7.70.212.8%33.81m
TLSTelstra Corporation.5.27-0.03-0.57%27.06m
HHGHHG Plc1.56-0.02-1.27%15.43m
MGIMacquarie Goodman Industrial Trust2.3600%11.35m
LHGLihir Gold1.090.021.87%10.96m
BHPBHP Billiton16.670.090.54%10.82m

All Ordinaries Top Gainers

CodeNameClose+/-%Volume
IHGIntellect Holdings0.0450.00512.5%27.26m
PSDPsivida1.110.1111%938205
TKRTriako Resources1.550.139.15%95417
SELS82.30.188.49%113948
JBMJubilee Mines5.80.438.01%1.34m

All Ordinaries Top Losers

CodeNameClose+/-%Volume
QPXQPSX0.14-0.02-9.68%396830
NALNorwood Abbey0.56-0.03-5.08%1.17m
ABCAdelaide Brighton1.73-0.08-4.42%5.02m
KRSKresta Holdings0.54-0.02-3.57%223800
ASBAustal1.9-0.07-3.55%314186

Elsewhere in the Region...

Japan's Nikkei 225 rose 80.21 points (0.70%) to close at 11553.56 points.

The Kiwi market advanced 2.27 points (0.07%). A total of 21 stocks within the NZSE50 rose, with volume in advancers totalling 3.3million units. Decliners numbered 19, and total volume traded in losers was 5.4million shares. Individual stocks that dud well included...

  • Sky Network Television (SKY), +$0.16 (2.58%) to $6.37 on volume of 142,000 shares;
  • Pumpkin Patch Limited (PPL), +$0.07 (2.44%) to $2.94 on volume of 229,000 shares;
  • Skellmax Industries (SKX), +$0.03 (2.33%) to $1.32 on volume of 117,000 shares;
  • Baycorp Advantage (BCA), +$0.08 (2.24%) to $3.65 on volume of 169,000 shares;
  • Tower Limited (TWR), +$0.04 (1.95%) to $2.09 on volume of 231,000 shares; and
  • Auckland International Airport (AIA), +$0.14 (1.71%) to $8.35 on volume of 528,000 shares.

Hong Kong's Hang Seng was closed.

Country Name Close +/- % Volume
New Zealand NZSE50 3163.404 2.27 0.07% 10.55m
Japan Nikkei 225 11553.56 80.21 0.7% 112204
Korea KOSPI 945.64 -3.55 -0.37% 336730
Singapore Straits Times 2148 7.84 0.37% 0
Hong Kong Hang Seng Closed
Malaysia KLSE Comp 914.91 2.33 0.26% 0