Interdum stultus opportuna loquitur...

Tuesday, March 08, 2005

OzRant: A Lame Rollercoaster, then an Upward Waft...

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Major Market Indices

The broad market - the ASX All Ordinaries - rose by 4.60 points (0.11%), finishing at 4223.30 points. The index traded in a narrow (12 point) range. It hit an intraday high of 4225.70 - set about half an hour after the open - and its low was 4213.2, which was set around noon. The rest of the day was a gentle waft upwards, evemtually closing near the session high.

The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 - rose by 4.50 points (0.11%), finishing at 4242.90 points.

The "heavy hitters" of the Australian market - the ASX 20 Leaders - fell by 2.10 points (-0.09%), finishing at 2293.40 points. Within the index members, there were 12 that rose, and 6 losers - in other words, it was mostly a market-cap weighting issue rather than a broadly-based problem. Total volume in rising issues within the ASX20 amounted to 53.18 while volume in the losers totalled 33.34m units; again, winners dominated volume despite the headline (small ) decline..

The major winners in the "big guns" were -

  • Alumina (AWC), +$0.18 (3.02%) to $6.15 on volume of 7.65m shares;
  • Woodside Petroleum (WPL), +$0.65 (2.84%) to $23.55 on volume of 2.41m shares;
  • Woolworths (WOW), +$0.34 (2.15%) to $16.14 on volume of 3.77m shares;
  • Amcor (AMC), +$0.11 (1.49%) to $7.47 on volume of 2.78m shares; and
  • Coles Myer Ltd. (CML), +$0.08 (0.83%) to $9.71 on volume of 3.19m shares.

The following stocks made up the biggest percentage losers in the big-guns:

  • BHP Billiton (BHP), -$0.44 (2.28%) to $18.85 on volume of 18.1m shares;
  • Rio Tinto (RIO), -$0.54 (1.14%) to $46.89 on volume of 2.61m shares;
  • Westfield Group (WDC), -$0.12 (0.71%) to $16.86 on volume of 3.29m shares;
  • News Corporation (NWS), -$0.16 (0.7%) to $22.54 on volume of 4.43m shares; and
  • News Corporation (NWSLV), -$0.13 (0.59%) to $21.93 on volume of 4.2m 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 17.00 points (0.71%), finishing at 2410.80 points. The major winners in the "pop-guns" were -

  • Minara Resources (MRE), +$0.16 (8.38%) to $2.07 on volume of 6.94m shares;
  • Globe International (GLB), +$0.03 (8.11%) to $0.40 on volume of 420,000 shares;
  • Cellestis (CST), +$0.22 (7.53%) to $3.14 on volume of 135,000 shares;
  • Agenix (AGX), +$0.03 (7.5%) to $0.43 on volume of 142,000 shares; and
  • Vision Systems (VSL), +$0.08 (7.14%) to $1.20 on volume of 1.04m shares.

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

  • Multiemedia (MUL), -$0.002 (7.69%) to $0.02 on volume of 32.11m shares;
  • Progen Industries. (PGL), -$0.28 (7.53%) to $3.44 on volume of 419,000 shares; and
  • Hills Industries (HIL), -$0.21 (4.75%) to $4.21 on volume of 292,000 shares;
  • Housewares International (HWI), -$0.10 (4.63%) to $2.06 on volume of 289,000 shares; and
  • Gasnet Australia Group (GAS), -$0.11 (4.35%) to $2.42 on volume of 111,000 shares.
Index Changes
CodeNameClose+/-%Volume
XAOAll Ordinaries4223.34.60.11%545.66m
XTLS&P/ASX 202293.4-2.1-0.09%90.5m
XFLS&P/ASX 504192.90.30.01%0
XTOS&P/ASX 1003449.82.10.06%0
XJOS&P/ASX 2004242.94.50.11%400.91m
XKOS&P/ASX 3004247.24.90.12%0
XMDS&P/ASX Mid-Cap 504079.315.60.38%0
XSOS&P/ASX Small Ordinaries2410.8170.71%187.35m

All Ordinaries Market Internals

Market Breadth
XAOXJO+/-%Volume
Advances2061099812801
Declines14859486713
Advancing Volume268.38m225.35m86.57m53.18667.6
Declining Volume187.71m131.4m59.34m33.34354.64

S&P/ASX200 GICS Sector Indices

The top sector for the day was Information Technology which gained 2.53% to 389.20 points. The sector was helped by

  • Vision Systems (VSL), +$0.08 (7.14%) to $1.20 on volume of 1.04m shares;
  • Computershare (CPU), +$0.17 (2.95%) to $5.93 on volume of 1.56m shares;
  • Baycorp Advantage (BCA), +$0.06 (2.12%) to $2.89 on volume of 239,000 shares;
  • MYOB (MYO), +$0.02 (1.68%) to $1.21 on volume of 131,000 shares; and
  • Infomedia Ltd (IFM), -$0.00 (0%) to $0.65 on volume of 131,000 shares.

Second in the sector leadership stakes was Energy which gained 1.88% to 8068.50 points. The sector leaders were -

  • Australian Worldwide Exploration (AWE), +$0.07 (3.85%) to $1.89 on volume of 4.78m shares;
  • Worley Parsons (WOR), +$0.20 (3.15%) to $6.55 on volume of 712,000 shares;
  • Woodside Petroleum (WPL), +$0.65 (2.84%) to $23.55 on volume of 2.41m shares;
  • Caltex Australia (CTX), +$0.39 (2.83%) to $14.19 on volume of 841,000 shares; and
  • Origin Energy (ORG), +$0.14 (1.99%) to $7.19 on volume of 2.03m shares.

The bronze today went to Consumer Staples which gained 1.17% to 5634.20 points. The sector was led by

  • Southcorp (SRP), +$0.13 (3.02%) to $4.44 on volume of 3.45m shares;
  • Woolworths (WOW), +$0.34 (2.15%) to $16.14 on volume of 3.77m shares;
  • Lion Nathan (LNN), +$0.13 (1.74%) to $7.60 on volume of 1.01m shares;
  • Futuris Corporation (FCL), +$0.02 (0.95%) to $2.13 on volume of 1.78m shares; and
  • Coles Myer Ltd. (CML), +$0.08 (0.83%) to $9.71 on volume of 3.19m shares.

The worst-performed sector today was Materials which lost 0.58% to 7482.10 points. The sector was dragged lower by

  • Paperlinx (PPX), -$0.14 (3.04%) to $4.46 on volume of 1.59m shares;
  • BHP Billiton (BHP), -$0.44 (2.28%) to $18.85 on volume of 18.1m shares; and
  • Lion Selection Group (LSG), -$0.03 (1.46%) to $2.03 on volume of 32,000 shares;
  • Kingsgate Consolidated. (KCN), -$0.03 (1.33%) to $2.22 on volume of 359,000 shares; and
  • Rio Tinto (RIO), -$0.54 (1.14%) to $46.89 on volume of 2.61m shares.

Just in front of last place on the sector table was Healthcare which lost 0.49% to 4860.40 points. The sector was pulled down by

  • Mayne Group (MAY), -$0.14 (3.26%) to $4.15 on volume of 1.54m shares;
  • CSL (CSL), -$0.34 (1%) to $33.50 on volume of 797,000 shares; and
  • DCA Group (DVC), -$0.03 (0.84%) to $3.55 on volume of 1.13m shares;
  • Resmed Inc (RMD), -$0.06 (0.81%) to $7.38 on volume of 972,000 shares; and
  • Peptech (PTD), -$0.01 (0.63%) to $1.59 on volume of 371,000 shares.
Sector Indices
CodeGICS SectorClose+/-%Volume
XIJInformation Technology389.29.62.53%5.57m
XEJEnergy8068.51491.88%22.48m
XSJConsumer Staples5634.265.21.17%26.59m
XUJUtilities470326.20.56%4.02m
XNJIndustrials513720.30.4%40.67m
XTJTelecommunications1920.66.90.36%19.37m
XXJASX200 Financials ex Property Trusts5048.96.40.13%57.63m
XDJConsumer Discretionary2325.11.70.07%40.65m
XFJFinancials4975.31.90.04%137.02m
XPJProperty Trusts1799.7-5-0.28%82.68m
XHJHealthcare4860.4-23.8-0.49%10.01m
XMJMaterials7482.1-43.5-0.58%116.56m

Major Movers

All Ords Volume Leaders
CodeNameClose+/-%Volume
ADYAdmiralty Resources.0.1800%38.29m
TLSTelstra Corporation.5.390.010.19%17.97m
BHPBHP Billiton18.85-0.44-2.28%17.93m
OXROxiana0.970.044.3%17.6m
DRTDB Rreef Trust1.290.021.57%14.29m
IAGInsurance Australia Group6.43-0.06-0.92%12.21m

All Ords Percentage Gainers
CodeNameClose+/-%Volume
MREMinara Resources2.070.168.38%6.94m
GLBGlobe International0.40.038.11%420009
BOCBougainville Copper0.540.048%257514
CSTCellestis3.140.227.53%134502
AGXAgenix0.430.037.5%141634

All Ords Percentage Decliners
CodeNameClose+/-%Volume
ABIAmbri 0.10 -0.015-13.04%1.13m
MULMultiemedia0.024-0.002-7.69%32.11m
PGLProgen Industries.3.44-0.28-7.53%418741
BGFBallarat Goldfields0.21-0.02-6.82%2.58m
HILHills Industries4.21-0.21-4.75%291537

Elsewhere in the Region...

Japan's Nikkei 225 fell 30.98 points (-0.26%) to close at 11894.38 points.

The Kiwi Market rose 17.74 points (0.55%). A total of 29 stocks within the NZSE50 rose, with volume in advancers totalling 10.9million units. Decliners numbered 13, and total volume traded in losers was 2.1million shares. Individual gainers (on a percentage basis) included...

  • Capital Properties (CNZ), +$0.07 (5.83%) to $1.27 on volume of 539,000 shares;
  • APN News & Media (APN), +$0.20 (3.77%) to $5.50 on volume of 10,000 shares;
  • AMP NZ Office Trust (APT), +$0.03 (3.3%) to $0.94 on volume of 488,000 shares;
  • Hallenstein Glass (HLG), +$0.10 (2.5%) to $4.10 on volume of 19,000 shares;
  • Pumpkin Patch (PPL), +$0.08 (2.4%) to $3.42 on volume of 104,000 shares; and
  • Hellaby Holdings (HBY), +$0.15 (2.16%) to $7.10 on volume of 14,000 shares.

Hong Kong's Hang Seng index advanced 39.98 points (0.29%). Within the Hang Seng, 19 index components rose, while 8 stocks fell. Volume in the gainers in Hong Kong's big-cap index totalled 74.2million units, and total volume traded in losers was 47.9million shares. Individual stocks that contributed to the advance included...

  • Denway Motors (0203), +$0.08 (2.68%) to $2.88 on volume of 10.53m shares;
  • CNOOC (0883), +$0.10 (2.29%) to $4.48 on volume of 22.65m shares;
  • Wharf Holdings (0004), +$0.40 (1.56%) to $26.00 on volume of 888,000 shares;
  • Henderson Land (0012), +$0.50 (1.44%) to $35.20 on volume of 2.63m shares;
  • SHK Properties (0016), +$1.00 (1.41%) to $71.75 on volume of 3.76m shares; and
  • Esprit Holdings (0330), +$0.75 (1.37%) to $55.50 on volume of 1.37m shares.
Regional Indices
CountryNameClose+/-%Volume
New ZealandNZSE503231.10717.740.55%14.21m
JapanNikkei 22511894.38-30.98-0.26%72287
KoreaKOSPI999.79-7.71-0.77%541014
SingaporeStraits Times2163.75-2.37-0.11%0
Hong KongHang Seng13811.9339.980.29%149.84m
MalaysiaKLSE Comp895.614.430.5%0