Interdum stultus opportuna loquitur...

Thursday, June 23, 2005

OzRant: Come ON... Move, Dammit!

Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.

You know how it happens - you're down in a mine, or painting a sign, or straining 'til you thought you'd burst... you've sure got a thirst. That's about the last time that the advertising industry made a genuine contribution to poetic intercourse; those old ads had an authentic cultural resonance.

I'm not entirely sure why that came into my brain - I seldom ever drink beer (because it tastes awful). I think it's because I've been tidying up my hard disk, shifting old consultancy stuff onto permanent storage ... I spent a month in 1999 analysing the impact of the GST on CUB's cost structure, during which time I became intimately acquainted with, e.g., the share of various costs in bulk compared with packaged beer... genuinely interesting.

Hats off to the "clever clogses" who discovered the 'Easter Eggs' in today's USRant; there will be more of those as time goes by (they're just a bit of fun). The Commodity RantBoxes will make their debut next Monday; at the same time the RantBoxes attached to the OzRant will speed up by a factor of 3 (although they are staying slower than the subscription version for a while yet).

Major Market Indices

The broad market - the ASX All Ordinaries - fell by 6.50 points (-0.15%), finishing at 4225.60 points. The index hit an intraday high of 4245.80 half an hour after the open, and its low was 4221.4 about half an hour before the close. Nice and symmetrical - but still not anywhere near 'minor fan-splat' magnitude; I distinctly recall telling the bloody market to have a bit more of a go at fulfilling me prophecy made last week for a minor fan-splat. A couple of percent for the week would suffice - a loss of 80 All Ords points for the week would do it. And here we are on Thursday, and the All Ords is only down about 50 for the week.

Total volume traded on the ASX was 940 million units, 1.0% below its 10-day average. Of the 483 stocks in All Ords, 211 fell while 157 managed a gain. Volume was tilted in favour of the losers by a margin of 1.4:1, with 321.72 million shares traded in losers while 234.14million shares traded in the day's gainers.

The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 - fell by 8.00 points (-0.19%), finishing at 4269.90 points.

The "heavy hitters" of the Australian market - the ASX 20 Leaders - fell by 5.70 points (-0.25%), finishing at 2295.60 points. Within the index members, there were 9 that rose, and 11 losers. Total volume in rising issues within the ASX20 amounted to 62.22 while volume in the losers totalled 52.57m units.

The major winners in the "big guns" were -

  • QBE Insurance Group (QBE), +$0.25 (1.59%) to $15.94 on volume of 3.13m shares;
  • Foster's Group (FGL), +$0.07 (1.31%) to $5.43 on volume of 8.13m shares; and
  • Commonwealth Bank Of Australia (CBA), +$0.37 (0.97%) to $38.38 on volume of 4.43m shares; and
  • Westpac Banking Corporation (WBC), +$0.15 (0.77%) to $19.66 on volume of 3.42m shares; and
  • News Corporation (NWS), +$0.13 (0.58%) to $22.70 on volume of 4.52m shares.

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

  • Alumina (AWC), -$0.14 (2.38%) to $5.74 on volume of 3.71m shares;
  • BHP Billiton (BHP), -$0.32 (1.77%) to $17.79 on volume of 13.67m shares; and
  • AMP Limited (AMP), -$0.08 (1.19%) to $6.64 on volume of 8.99m shares; and
  • Woodside Petroleum (WPL), -$0.31 (1.08%) to $28.49 on volume of 1.29m shares; and
  • Rio Tinto (RIO), -$0.41 (0.91%) to $44.65 on volume of 3.14m shares.

At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index fell by 9.90 points (-0.42%), finishing at 2370.20 points. The major winners in the "pop-guns" were -

  • Multiemedia (MUL), +$0.001 (7.14%) to $0.015 on volume of 9.03m shares;
  • Coffey International (COF), +$0.16 (6.18%) to $2.75 on volume of 82,000 shares; and
  • Miller's Retail (MRL), +$0.04 (5.07%) to $0.73 on volume of 1.26m shares; and
  • Equigold (EQI), +$0.05 (4.76%) to $1.10 on volume of 165,000 shares; and
  • Sunland Group (SDG), +$0.08 (4.64%) to $1.69 on volume of 1.33m shares.

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

  • Sydney Gas Ltd (SGL), -$0.21 (30.83%) to $0.46 on volume of 10.32m shares;
  • Brazin (BRZ), -$0.21 (10.99%) to $1.70 on volume of 1.17m shares; and
  • Primelife Corporation (PLF), -$0.07 (7.78%) to $0.83 on volume of 556,000 shares; and
  • Emperor Mines (EMP), -$0.02 (6.9%) to $0.27 on volume of 27,000 shares; and
  • David Jones (DJS), -$0.11 (5.43%) to $1.83 on volume of 2.95m shares.
Index Changes
XAOAll Ordinaries4225.6-6.5-0.15%661.57m
XTLS&P/ASX 202295.6-5.7-0.25%114.79m
XFLS&P/ASX 504212.5-8.5-0.2%242.73m
XTOS&P/ASX 1003469.5-5.9-0.17%416.14m
XJOS&P/ASX 2004269.9-8-0.19%496.34m
XKOS&P/ASX 3004261.6-8.1-0.19%0
XMDS&P/ASX Mid-Cap 504127.11.10.03%0
XSOS&P/ASX Small Ordinaries2370.2-9.9-0.42%203.23m

All Ordinaries Market Internals

Market Breadth

Advancing Volume62.22m178.88m169.06m234.1462.69319.05
Declining Volume52.57m226.75m270.61m321.7282.61458.96

S&P/ASX200 GICS Sector Indices

The top sector for the day was ASX200 Financials ex Property Trusts which gained 0.19% to 5184.60 points. The sector was helped by

  • Suncorp-Metway (SUN), +$0.34 (1.69%) to $20.48 on volume of 1.72m shares;
  • QBE Insurance Group (QBE), +$0.25 (1.59%) to $15.94 on volume of 3.13m shares; and
  • Insurance Australia Group (IAG), +$0.07 (1.13%) to $6.26 on volume of 5.01m shares; and
  • Commonwealth Bank Of Australia (CBA), +$0.37 (0.97%) to $38.38 on volume of 4.43m shares; and
  • Westpac Banking Corporation (WBC), +$0.15 (0.77%) to $19.66 on volume of 3.42m shares.

Second in the sector leadership stakes was Consumer Staples which gained 0.18% to 5610.60 points. The sector leaders were -

  • AWB (AWB), +$0.09 (2.04%) to $4.50 on volume of 2.42m shares;
  • Foster's Group (FGL), +$0.07 (1.31%) to $5.43 on volume of 8.13m shares; and
  • Futuris Corporation (FCL), +$0.02 (1.09%) to $1.86 on volume of 2.23m shares; and
  • Coca-Cola Amatil (CCL), +$0.06 (0.78%) to $7.74 on volume of 1.39m shares; and
  • Ridley Corporation (RIC), +$0.01 (0.76%) to $1.33 on volume of 919,000 shares.

The bronze today went to Financials which gained 0.14% to 5095.20 points. The sector was led by

  • Suncorp-Metway (SUN), +$0.34 (1.69%) to $20.48 on volume of 1.72m shares;
  • Galileo Shopping America Trust (GSA), +$0.02 (1.6%) to $1.27 on volume of 1.5m shares; and
  • QBE Insurance Group (QBE), +$0.25 (1.59%) to $15.94 on volume of 3.13m shares; and
  • Insurance Australia Group (IAG), +$0.07 (1.13%) to $6.26 on volume of 5.01m shares; and
  • Stockland (SGP), +$0.06 (1.05%) to $5.80 on volume of 8.41m shares.

The worst-performed sector today was Materials which lost 1.02% to 7218.10 points. The sector was dragged lower by

  • Oxiana (OXR), -$0.04 (4.23%) to $0.91 on volume of 5.52m shares;
  • Alumina (AWC), -$0.14 (2.38%) to $5.74 on volume of 3.71m shares;
  • Centennial Coal Company (CEY), -$0.10 (1.97%) to $4.97 on volume of 589,000 shares;
  • Great Southern Plantations (GTP), -$0.08 (1.91%) to $4.10 on volume of 1.58m shares; and
  • Lion Selection Group (LSG), -$0.04 (1.9%) to $1.81 on volume of 96,000 shares.

Just in front of last place on the sector table was Information Technology which lost 0.75% to 398.70 points. The sector was pulled down by

  • Computershare (CPU), -$0.10 (1.6%) to $6.15 on volume of 4.64m shares;
  • Baycorp Advantage (BCA), -$0.04 (1.3%) to $3.03 on volume of 396,000 shares; and
  • Infomedia Ltd (IFM), -$0.01 (0.95%) to $0.52 on volume of 428,000 shares (only 3 stocks in the index fell)
Sector Indices
CodeGICS SectorClose+/-%Volume
XXJASX200 Financials ex Property Trusts5184.69.90.19%78.76m
XSJConsumer Staples5610.610.30.18%42.16m
XPJProperty Trusts1825.9-0.7-0.04%140.96m
XDJConsumer Discretionary2243-14.6-0.65%40.86m
XIJInformation Technology398.7-3-0.75%8.09m

All Ordinaries Major Movers

All Ords Volume Leaders
TLSTelstra Corporation5.100.020.39%28.22m
MPRMacquarie Prologis Trust1.21-0.01-0.41%19.15m
PMNPromina Group4.86-0.09-1.82%19.15m
MXGMultiplex Group2.860.020.7%15.1m
BHPBHP Billiton17.79-0.32-1.77%13.67m
IPGInvesta Property Group2.03-0.01-0.49%13.16m

All Ords Percentage Gainers
NHCNew Hope Corporation1.350.1411.57%366010
AGIAinsworth Game Technology0.570.058.57%865825
SRISipa Resources0.0780.0045.41%909598

All Ords Percentage Decliners
SGLSydney Gas Ltd0.46-0.21-30.83%10.32m
ETWEvans & Tate0.49-0.11-18.33%2.21m
PLFPrimelife Corporation0.83-0.07-7.78%555573
GDMGoldstream Mining0.33-0.02-5.71%225900

Elsewhere in the Region...

Japan's Nikkei 225 rose 29.47 points (0.26%) to close at 11576.75 points in a narrow-range session. The index hit a high of 11576.75 at the close, just eclipsing the level it attained in the first 25 minutes of trade. It only eclipsed the 9:30 a.m. level as a result of another one of these strange insto-generated 'pop-ups' in the final 'matchout' period.  The low of 11530.78 points was set about 3 minutes before the lunch break.

In another immensely tedious session, the Kiwi Market declined 4.66 points (-0.15%) to 3173.026 points. The index again traded in a range of less than ten index points, and finished slap-bang in the middle of the day's range. The session high (3177.684 points) occurred on a very odd 'island' 5-minute bar at about 12:25 p.m. Auckland time, barely exceeding the prior intraday high set in the first five minutes. Very strange behaviour indeed.  The NZSE50 low for the session (3168.902 points) happened just after 11 a.m. NZ time.

A total of 22 stocks within the NZSE50 rose, with volume in advancers totalling 9.7million units. Decliners numbered 15, and total volume traded in losers was 9.1 million shares (so volume was very evenly split). Individual stocks that  were weakincluded...

  • Fisher & Paykel A (FPA), -NZ$0.08 (2.31%) to NZ$3.38 on volume of 515,000 shares;
  • NGC Holdings (NGC), -NZ$0.05 (1.4%) to NZ$3.52 on volume of 157,000 shares;
  • Telecom Corporation (TEL), -NZ$0.06 (0.99%) to NZ$6.02 on volume of 7.19m shares;
  • Promina Group (PMN), -NZ$0.05 (0.93%) to NZ$5.35 on volume of 15,000 shares; and
  • The Warehouse Group (WHS), -NZ$0.03 (0.87%) to NZ$3.41 on volume of 212,000 shares.

Hong Kong's Hang Seng index advanced 28.23 points (0.20%) to rest at 14189-and-a-bit at lunchtime. The index hit a high of 14233.81 in the first ten minutes of the morning session, and obviously got the staggers at being above 14200, dropping almost 80 points in the following hour, to set its session low (thus far) at 14157.01 points.

Within the Hang Seng, 14 index components rose, while 13 stocks fell. Volume in the gainers in Hong Kong's big-cap index totalled 177.4million units, and total volume traded in losers was 60.5million shares. Individual stocks that contributed to the advance included...

  • Cosco Pacific (1199), +HK$0.50 (3.44%) to HK$15.05 on volume of 10.93m shares;
  • Wheelock (0020), +HK$0.20 (1.68%) to HK$12.10 on volume of 2.9m shares;
  • Henderson Land (0012), +HK$0.50 (1.4%) to HK$36.30 on volume of 1.85m shares;
  • Li & Fung (0494), +HK$0.20 (1.29%) to HK$15.75 on volume of 4.88m shares;
  • CNOOC (0883), +HK$0.05 (1.2%) to HK$4.23 on volume of 119.76m shares; and
  • Wharf Holdings (0004), +HK$0.20 (0.79%) to HK$25.50 on volume of 1.99m shares.
Regional Indices
New ZealandNZSE503173.026-4.66-0.15%23.66m
JapanNikkei 22511576.7529.470.26%0
SingaporeStraits Times2220.2913.950.63%0
Hong KongHang Seng14189.2528.230.2%261.75m
MalaysiaKLSE Comp898.16-5.17-0.57%0