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Well,
it's Monday, so don't be overly surprised at the upward bias...
everything is being run by hedgies and small specs at the moment...
These are guys that go home empty-handed on Fridays and then - if
nothing major blows up over the weekend - they jump back in on Mondays.
It's predictable (and even more better, it's exploitable). Everybody
banks on a Monday upward bias in the US, and usually they're right. If
the entrails are to be believed, these knuckleheads are going to be
pretty unhappy unless they unload tomorrow, because it looks like the S&P500 will hit
1175 or lower before
Wednesday our time... That's a forecast.
Major Market Indices
The broad market - the ASX All Ordinaries - rose by 33.50 points (0.84%), finishing at 4024.30 points - as near as dammit to the high of the day. The index low for the day was 3990.7, set at the open - and more than half of the day's overall rise happened in the first twenty minutes. Obviously nothing bad is ever going to happen anywhere, ever again. The world just looks sooo rosy (no, really... put on these glasses and you'll see...).
Total volume traded on the ASX was a monumentally feeble 620 million units, 21.9% below its 10-day average. Of the 483 stocks in the index, 247 rose while 109 fell. Volume was tilted in favour of the gainers by a margin of 3.8:1, with 278.92m shares traded in gainers compared to 72.9m shares traded in the days losers.
The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 - rose by 36.00 points (0.89%), finishing at 4077.20 points.
The "heavy hitters" of the Australian market - the ASX 20 Leaders - rose by 20.90 points (0.95%), finishing at 2213.10 points. Within the index members, there were 18 that rose, and only 1 loser. The loser was Woodside (WPL) which lost $0.12 (0.51%) to close at $23.33 on volume of 1.48m shares, and Telstra (TLS) was unchanged at $4.86. By contrast with the 1.5m units traded in the single loser, total volume in rising issues within the ASX20 amounted to 88.22m units.
The major winners in the "big guns" were -
- Commonwealth Bank Of Australia. (CBA), +$0.97 (2.63%) to $37.79 on volume of 5.01m shares;
- Coles Myer Ltd. (CML), +$0.24 (2.63%) to $9.38 on volume of 22.11m shares;
- Amcor (AMC), +$0.16 (2.39%) to $6.86 on volume of 2.65m shares;
- Woolworths (WOW), +$0.33 (2.15%) to $15.65 on volume of 1.91m shares; and
- Foster's Group (FGL), +$0.09 (1.69%) to $5.40 on volume of 12.49m shares.
At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index rose by 28.60 points (1.31%), finishing at 2207.40 points. Of the 194 stocks in the index, 110 rose while 41 fell. Volume was tilted in favour of the gainers by a margin of 5.3:1, with 70.91m shares traded in gainers while 13.49m shares traded in losers. The major winners in the "pop-guns" were -
- Metabolic Pharmaceuticals (MBP), +$0.08 (11.43%) to $0.78 on volume of 1.2m shares;
- AAV (AVV), +$0.10 (10.36%) to $1.07 on volume of 320,000 shares;
- Ventracor (VCR), +$0.12 (10.22%) to $1.24 on volume of 11.95m shares;
- Perilya (PEM), +$0.06 (8.82%) to $0.74 on volume of 239,000 shares; and
- Lion Selection Group (LSG), +$0.13 (7.91%) to $1.71 on volume of 137,000 shares.
The losingest-little-guys for the session were (in order of decline):
- Progen Industries. (PGL), -$0.14 (4.93%) to $2.70 on volume of 132,000 shares;
- Institute Of Drug Technology Australia (IDT), -$0.06 (3.24%) to $1.79 on volume of 40,000 shares; and
- Citect Corporation (CTL), -$0.03 (3.13%) to $0.93 on volume of 46,000 shares;
- Norwood Abbey (NAL), -$0.02 (3.09%) to $0.47 on volume of 43,000 shares; and
- Mosaic Oil (MOS), -$0.01 (2.86%) to $0.17 on volume of 421,000 shares.
| Index Changes | |||||
| Code | Name | Close | +/- | % | Volume |
| XAO | All Ordinaries | 4024.3 | 33.5 | 0.84% | 453.26m |
| XTL | S&P/ASX 20 | 2213.1 | 20.9 | 0.95% | 101.82m |
| XFL | S&P/ASX 50 | 4033.7 | 32.9 | 0.82% | 0 |
| XTO | S&P/ASX 100 | 3320.7 | 27.9 | 0.85% | 0 |
| XJO | S&P/ASX 200 | 4077.2 | 36 | 0.89% | 378.65m |
| XKO | S&P/ASX 300 | 4068.7 | 35.8 | 0.89% | 0 |
| XMD | S&P/ASX Mid-Cap 50 | 3938.9 | 38.6 | 0.99% | 0 |
| XSO | S&P/ASX Small Ordinaries | 2207.4 | 28.6 | 1.31% | 128.53m |
All Ordinaries Market Internals
| Market Breadth | |||||
| XAO | XJO | XSO | ASX20 | Market | |
| Advances | 247 | 139 | 110 | 18 | 497 |
| Declines | 109 | 41 | 41 | 1 | 349 |
| Advancing Volume | 278.92m | 268.69m | 70.91m | 88.22 | 375.83 |
| Declining Volume | 72.9m | 60.03m | 13.49m | 1.48 | 146.6 |
S&P/ASX200 GICS Sector Indices
The top sector for the day was Consumer Staples which gained 1.36% to 5453.70 points. The sector was helped by
- Coles Myer Ltd. (CML), +$0.24 (2.63%) to $9.38 on volume of 22.11m shares;
- Woolworths (WOW), +$0.33 (2.15%) to $15.65 on volume of 1.91m shares;
- Foster's Group (FGL), +$0.09 (1.69%) to $5.40 on volume of 12.49m shares;
- Futuris Corporation (FCL), +$0.01 (0.53%) to $1.90 on volume of 831,000 shares; and
- Mcguigan Simeon Wines (MGW), +$0.01 (0.24%) to $4.14 on volume of 128,000 shares.
Second in the sector leadership stakes was Industrials which gained 1.34% to 4920.20 points. The sector leaders were -
- Australian Infrastructure Fund (AIX), +$0.10 (4.22%) to $2.47 on volume of 1.08m shares;
- Corporate Express Australia (CXP), +$0.21 (3.95%) to $5.53 on volume of 17,000 shares;
- Crane Group (CRG), +$0.25 (3.44%) to $7.52 on volume of 99,000 shares;
- Adsteam Marine (ADZ), +$0.06 (3.21%) to $1.93 on volume of 761,000 shares; and
- Spotless Group (SPT), +$0.12 (2.47%) to $4.97 on volume of 105,000 shares.
The bronze today went to Information Technology which gained 1.16% to 375.40 points. The sector was led by
- Baycorp Advantage (BCA), +$0.03 (1.08%) to $2.80 on volume of 95,000 shares;
- Computershare (CPU), +$0.04 (0.68%) to $5.90 on volume of 1.23m shares;
- IRESS Market Technology (IRE), +$0.02 (0.5%) to $4.01 on volume of 139,000 shares;
- Infomedia Ltd (IFM), -$0.00 (0%) to $0.53 on volume of 555,000 shares; and
- MYOB (MYO), -$0.00 (0%) to $1.06 on volume of 275,000 shares.
The
worst-performed sector today - and the only sector that posted a loss -
was Utilities
which lost a miniscule 0.06% to 4794.00 points. The sector was dragged
lower by just three stocks out of the 8 stocks in the sector - namely
- Pacific Hydro (PHY), -$0.04 (0.77%) to $5.13 on volume of 392,000 shares;
- Alinta (ALN), -$0.07 (0.72%) to $9.68 on volume of 770,000 shares;
- Australian Gas Light Company (AGL), -$0.05 (0.37%) to $13.47 on volume of 533,000 shares;
| Sector Indices | |||||
| Code | GICS Sector | Close | +/- | % | Volume |
| XSJ | Consumer Staples | 5453.7 | 73.2 | 1.36% | 60.23m |
| XNJ | Industrials | 4920.2 | 64.9 | 1.34% | 39.09m |
| XIJ | Information Technology | 375.4 | 4.3 | 1.16% | 3.97m |
| XPJ | Property Trusts | 1758.9 | 17.7 | 1.02% | 84.2m |
| XDJ | Consumer Discretionary | 2142.6 | 20.7 | 0.98% | 27.66m |
| XFJ | Financials | 4989 | 48.1 | 0.97% | 136.22m |
| XXJ | ASX200 Financials ex Property Trusts | 5099.7 | 48.5 | 0.96% | 55.65m |
| XMJ | Materials | 6630.6 | 47.2 | 0.72% | 64.62m |
| XHJ | Healthcare | 4807.9 | 33.2 | 0.7% | 24.69m |
| XEJ | Energy | 8045.1 | 13.7 | 0.17% | 11.15m |
| XTJ | Telecommunications | 1737.7 | 1.1 | 0.06% | 12.63m |
| XUJ | Utilities | 4794 | -2.7 | -0.06% | 2.7m |
All Ordinaries Major Movers
| All Ords Volume Leaders | |||||
| Code | Name | Close | +/- | % | Volume |
| CML | Coles Myer |
9.38 | 0.24 | 2.63% | 22.11m |
| FGL | Foster's Group | 5.4 | 0.09 | 1.69% | 12.49m |
| BHP | BHP Billiton | 15.95 | 0.07 | 0.44% | 12.32m |
| TLS | Telstra Corporation. | 4.86 | 0 | 0% | 12.13m |
| VCR | Ventracor | 1.24 | 0.12 | 10.22% | 11.95m |
| MIG | Macquarie Infrastructure Group | 3.77 | 0.08 | 2.17% | 11.45m |
| All Ords Percentage Gainers | |||||
| Code | Name | Close | +/- | % | Volume |
| MBP | Metabolic Pharmaceuticals | 0.78 | 0.08 | 11.43% | 1.2m |
| AVV | AAV | 1.07 | 0.1 | 10.36% | 319580 |
| VCR | Ventracor | 1.24 | 0.12 | 10.22% | 11.95m |
| PEM | Perilya | 0.74 | 0.06 | 8.82% | 238703 |
| SEL | S8 | 1.75 | 0.14 | 8.36% | 38000 |
| All Ords Percentage Decliners | |||||
| Code | Name | Close | +/- | % | Volume |
| BOC | Bougainville Copper | 0.66 | -0.13 | -16.46% | 110293 |
| GFD | Green's Foods | 0.57 | -0.1 | -14.93% | 552143 |
| MST | Metal Storm | 0.15 | -0.01 | -6.25% | 629293 |
| EPT | Epitan | 0.4 | -0.03 | -5.95% | 170494 |
| PGL | Progen Industries. | 2.7 | -0.14 | -4.93% | 131994 |
Elsewhere in the Region...
Japan's Nikkei 225 rose 121.36 points (1.10%) to close at 11158.65 points. The Tokyo market went pretty much nowhere in the morning, but after lunch it went ballistic, hitting a high of 11163.54 just minutes before the close.
The Kiwi Market advanced 37.98 points (1.27%) to 3038.637 points. The index hit a high of 3040.042 in the last few minutes of the session. The index was only underwater for about ten minutes during the entire day - the Kiwi market wrestled with the 3000 point marker for the whole of the pre-lunch session, dipping as low as 2995.548 points: after lunch it was one-way, upward traffic.
A total of 42 stocks within the NZSE50 rose, with volume in advancers totalling 23.3million units. Decliners numbered 6, and total volume traded in losers was 5.3million shares. Individual performers included...
- Mainfreight (MFT), +NZ$0.20 (8.7%) to NZ$2.50 on volume of 22,000 shares;
- Hellaby Holdings (HBY), +NZ$0.30 (5.56%) to NZ$5.70 on volume of 52,000 shares;
- Baycorp Advantage (BCA), +NZ$0.15 (5.08%) to NZ$3.10 on volume of 70,000 shares;
- Infratil Limited (IFT), +NZ$0.13 (3.8%) to NZ$3.55 on volume of 138,000 shares;
- Skellmax Industries (SKX), +NZ$0.04 (3.57%) to NZ$1.16 on volume of 133,000 shares; and
- Michael Hill International (MHI), +NZ$0.26 (3.54%) to NZ$7.60 on volume of 11,000 shares.
Hong Kong's Hang Seng index declined 33.32 points (-0.24%) to rest at 13684.10 points at the lunch break. The index hit a high of 13730.09 during the session, and fell as low as 13632.23 points.
Within the Hang Seng, 6 index components rose, while 21 stocks fell. Volume in the gainers in Hong Kong's big-cap index totalled 15.4million units, and total volume traded in losers was 53.3million shares. Individual stocks that contributed to the decline included...
- Cosco Pacific (1199), -HK$0.25 (1.59%) to HK$15.45 on volume of 1.44m shares;
- Esprit Holdings (0330), -HK$0.75 (1.34%) to HK$55.25 on volume of 1.11m shares;
- Wheelock (0020), -HK$0.15 (1.31%) to HK$11.30 on volume of 338,000 shares;
- CKI Holdings (1038), -HK$0.25 (1.08%) to HK$23.00 on volume of 353,000 shares;
- PCCW (0008), -HK$0.05 (1.06%) to HK$4.68 on volume of 5.36m shares; and
- Lenovo Group (0992), -HK$0.03 (1%) to HK$2.48 on volume of 2.69m shares.
| Regional Indices | |||||
| Country | Name | Close | +/- | % | Volume |
| New Zealand | NZSE50 | 3038.637 | 37.98 | 1.27% | 28.74m |
| Japan | Nikkei 225 | 11158.65 | 121.36 | 1.1% | 66505 |
| Korea | KOSPI | 951.05 | -1.14 | -0.12% | 310627 |
| Singapore | Straits Times | 2173.77 | 0 | 0% | 0 |
| Hong Kong | Hang Seng | 13684.1 | -33.32 | -0.24% | 86.91m |
| Malaysia | KLSE Comp | 883.17 | -4.3 | -0.48% | 0 |
