Interdum stultus opportuna loquitur...

Monday, June 20, 2005

OzRant: This Time It's Really Monday...

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

This week, when I babble on about Monday, I can be reasonably confident that it actually is Monday. I hate holidays; people don't deserve them, and I get temporally disoriented. (It is Monday, right?). Oddly - for a Monday - the domestic indices (and the regional markets more generally) looked indecisive; it's almost as if there's a collective pause for breath. My bet is that before the end of this week there will be a decent-sized belch, too.

Still, there are things to be thankful for - Howard's blatant lies about the 'rescue as a result of a military operation' of that kidnapped bloke, were exposed within 24 hours. Sure, only a miniscule proportion of the population (those who get their information from the non-mainstream media) are aware it was all a big scam con lie, but at least it didn't take six months to bubble to the surface (like the Jessica Lynch lie or the Pat Tillman lie). Now they have to get the mufti who organised his release to keep quiet (or perhaps they will just smear him... should be easy, because he's a Muslim and we're in a War On Terror).

When will journalists start 'calling' people like Howard (and Downer, and Ruddock, and Vanstone) when they lie like that?  Slap the little monkey-man in his idiotic face until his ears bleed and those ludicrous low-cost porcelain veneers fall off his teeth - if only as a warning to kiddies that they ought not to become like him.

Where are the new Pilgers, the new Nevilles, the new Fisks, the new Floyds - the aggressive journalists of our era? Where is Chris Masters exposé of the fraudulent way Howard lied us into the Iraq conflict? How can we 'move on' so callously, when our little monkey-leader is a War Criminal? How can we dare talk about Milosevic (or Hussein, or even Hitler) when we drink from the same chalice?

Not that I'm a fan of the Labour party (spell it right, you numbskulls); if Wayne Swan is not wearing a toupée I will go 'he' for tiggy. If he is wearing one, someone should rip it off his head so that we can see that he is actually Bob McMullan's twin.

Major Market Indices

The broad market - the ASX All Ordinaries - fell by 5.00 points (-0.12%), finishing at 4262.30 points. The index hit an intraday high of 4275.60 ten minutes after the opening bell, and its low at 4256 was established just after 3 p.m. Sydney time.

Total volume traded on the ASX was an impressive 1.01 billion units, 8.3% above its 10-day average. Of the 483 stocks in the index, 204 fell and 183 managed a gain. Volume was tilted in favour of the losers by a margin of 1.2:1, with 233.23 million shares traded in losers while 198.49 million shares traded in the day's gainers. You might have guessed that the session low coincided with the ASX200 touching 4300...

The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 - fell by 6.60 points (-0.15%), finishing at 4305.60 points.

The "heavy hitters" of the Australian market - the ASX 20 Leaders - fell by 8.40 points (-0.36%), finishing at 2309.60 points. Within the index members, there were 5 that rose, and 13 losers. Total volume in rising issues within the ASX20 amounted to 15.22 while volume in the losers totalled 75.05m units.

The major winners in the "big guns" were -

  • Woodside Petroleum (WPL), +$1.15 (4.07%) to $29.40 on volume of 2.37m shares;
  • Amcor (AMC), +$0.14 (1.94%) to $7.35 on volume of 5.13m shares; and
  • Woolworths (WOW), +$0.22 (1.33%) to $16.70 on volume of 2.28m shares; and
  • News Corporation (NWSLV), +$0.19 (0.88%) to $21.79 on volume of 4.86m shares; and
  • Wesfarmers (WES), +$0.15 (0.38%) to $39.55 on volume of 592,000 shares.

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

  • News Corporation (NWS), -$0.43 (1.85%) to $22.84 on volume of 5.59m shares;
  • National Australia Bank (NAB), -$0.50 (1.6%) to $30.70 on volume of 4.83m shares; and
  • Telstra Corporation (TLS), -$0.06 (1.17%) to $5.08 on volume of 15.77m shares; and
  • Westpac Banking Corporation (WBC), -$0.21 (1.05%) to $19.76 on volume of 4.67m shares; and
  • Australia And New Zealand Banking Group (ANZ), -$0.19 (0.86%) to $21.91 on volume of 5.17m shares.

At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index rose by 0.20 points (0.01%), finishing at 2392.50 points. The major winners in the "pop-guns" were -

  • Emperor Mines (EMP), +$0.04 (15.38%) to $0.30 on volume of 70,000 shares;
  • Highlands Pacific (HIG), +$0.03 (6.74%) to $0.48 on volume of 1.81m shares; and
  • Multiemedia (MUL), +$0.001 (6.67%) to $0.016 on volume of 5.15m shares; and
  • Roc Oil Company (ROC), +$0.09 (4.53%) to $1.96 on volume of 1.54m shares; and
  • Croesus Mining (CRS), +$0.02 (4.35%) to $0.36 on volume of 5.28m shares.

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

  • Schaffer Corporation (SFC), -$0.86 (14.45%) to $5.09 on volume of 125,000 shares;
  • SDI (SDI), -$0.10 (11.18%) to $0.76 on volume of 447,000 shares; and
  • Genetic Technologies (GTG), -$0.03 (7.79%) to $0.36 on volume of 189,000 shares; and
  • Circadian Technologies (CIR), -$0.09 (6.8%) to $1.17 on volume of 85,000 shares; and
  • Psivida (PSD), -$0.05 (5.42%) to $0.79 on volume of 627,000 shares.
Index Changes
XAOAll Ordinaries4262.3-5-0.12%555.99m
XTLS&P/ASX 202309.6-8.4-0.36%104.4m
XFLS&P/ASX 504245.9-10.5-0.25%197.57m
XTOS&P/ASX 1003498.7-6.1-0.17%323.4m
XJOS&P/ASX 2004305.6-6.6-0.15%423.62m
XKOS&P/ASX 3004297.7-6.8-0.16%0
XMDS&P/ASX Mid-Cap 504172.810.10.24%0
XSOS&P/ASX Small Ordinaries2392.50.20.01%162.94m

All Ordinaries Market Internals

Market Breadth

Advancing Volume15.22m117.26m172.71m198.4969.61362.25
Declining Volume75.05m174.8m196.73m233.2350.54471.05

S&P/ASX200 GICS Sector Indices

The sector split today was 6:6 - six GICS sectors rose, and six fell - although it should be pointed out that XXJ  (Financials ex-Property Trusts) double-counts the stocks in XFJ (Financials). Overall (as the headline indices show) the aggregate fall in market cap was almost insignificant.

The top sector for the day was Energy which gained 3.11% to 9559.00 points - no surprise given the big surge in oil prices late last week. (Just a note on that: it's almost time to short Crude oil again... should be good for a $2-$3 fall). The sector was helped by

  • Santos (STO), +$0.66 (6.08%) to $11.52 on volume of 2.44m shares;
  • Roc Oil Company (ROC), +$0.09 (4.53%) to $1.96 on volume of 1.54m shares; and
  • Woodside Petroleum (WPL), +$1.15 (4.07%) to $29.40 on volume of 2.37m shares; and
  • Oil Search (OSH), +$0.11 (3.93%) to $2.91 on volume of 6.39m shares; and
  • Hardman Resources (HDR), +$0.05 (2.34%) to $2.19 on volume of 4.58m shares.

Second in the sector leadership stakes was Healthcare which gained 0.87% to 5167.90 points. The sector leaders were -

  • Ansell (ANN), +$0.37 (3.74%) to $10.27 on volume of 438,000 shares;
  • Cochlear (COH), +$0.99 (2.66%) to $38.25 on volume of 295,000 shares; and
  • Mayne Group (MAY), +$0.11 (2.38%) to $4.74 on volume of 2.86m shares; and
  • Invocare (IVC), +$0.07 (1.78%) to $4.01 on volume of 316,000 shares; and
  • Sigma Company (SIG), +$0.15 (1.68%) to $9.10 on volume of 361,000 shares.

The bronze today went to Consumer Discretionary which gained 0.63% to 2303.80 points. The sector was led by

  • Just Group (JST), +$0.08 (3.82%) to $2.04 on volume of 7.6m shares;
  • Repco Corporation (RCL), +$0.06 (2.16%) to $2.84 on volume of 1.19m shares; and
  • Colorado Group (CDO), +$0.10 (2.12%) to $4.82 on volume of 461,000 shares; and
  • Aristocrat Leisure (ALL), +$0.23 (2.09%) to $11.25 on volume of 1.39m shares; and
  • Macquarie Communications Infrastructure Group (MCG), +$0.11 (1.69%) to $6.60 on volume of 869,000 shares.

The worst-performed sector today was Telecommunications which lost 1.18% to 1804.80 points. The sector was dragged lower by both of its components (although really all that was important was Telstra's fall... hopefully people are waking up to what a hopeless pillock that Trujillo bloke is...)

  • Telecom Corporation Of New Zealand (TEL), -$0.07 (1.23%) to $5.63 on volume of 807,000 shares; and
  • Telstra Corporation (TLS), -$0.06 (1.17%) to $5.08 on volume of 15.77m shares.

Just in front of last place on the sector table was ASX200 Financials ex Property Trusts which lost 0.85% to 5179.20 points. The sector was pulled down by

  • Challenger Financial Services Group (CGF), -$0.11 (3.36%) to $3.16 on volume of 921,000 shares;
  • AXA Asia Pacific Holdings (AXA), -$0.11 (2.33%) to $4.61 on volume of 1.69m shares;
  • Macquarie Bank (MBL), -$1.02 (1.74%) to $57.68 on volume of 716,000 shares;
  • National Australia Bank (NAB), -$0.50 (1.6%) to $30.70 on volume of 4.83m shares; and
  • Tower (TWR), -$0.03 (1.49%) to $1.99 on volume of 443,000 shares.
Sector Indices
CodeGICS SectorClose+/-%Volume
XDJConsumer Discretionary2303.814.40.63%43.58m
XSJConsumer Staples5643.216.20.29%35.96m
XIJInformation Technology403.4-1.1-0.27%6.5m
XPJProperty Trusts1825.2-7-0.38%70.41m
XXJASX200 Financials ex Property Trusts5179.2-44.4-0.85%48.73m

All Ordinaries Major Movers

All Ords Volume Leaders
BHPBHP Billiton18.23-0.02-0.11%18.83m
CUECue Energy Resources0.350.039.38%17.78m
TLSTelstra Corporation5.08-0.06-1.17%15.77m
QANQantas Airways3.32-0.04-1.19%13.98m
SGTSingapore Telecommunications2.0400%13.9m

All Ords Percentage Gainers
SRISipa Resources0.0820.00810.81%1.79m
CRTConsolidated Rutile0.580.058.49%753122
ILUIluka Resources7.930.628.48%4.67m
HIGHighlands Pacific0.480.036.74%1.81m

All Ords Percentage Decliners
SFCSchaffer Corporation5.09-0.86-14.45%125355
QCHQueensland Cotton Holdings3.55-0.37-9.44%140052
GTGGenetic Technologies0.36-0.03-7.79%188563
CIRCircadian Technologies1.17-0.09-6.8%85451

Elsewhere in the Region...

Japan's Nikkei 225 fell30.68 points (-0.27%) to close at 11483.35 points. The index hit a opened at its high (11539.18 points), and sagged gently throughout the morning and early afternoon, hitting its session low at 11455.23 points just after 2 p.m. Tokyo time before a little rally through to the close.

The Kiwi Market declined 12.96 points (-0.41%). The index hit a high of 3186.871 in the first ten minutes, and wafted gently lower throughout the session before a snap downwards to 3166.613 points in the last 5 minutes of the session.

A total of 15 stocks within the NZSE50 rose, with volume in advancers totalling 2.9 million units. Decliners numbered 25, and total volume traded in losers was 16.3 million shares. Individual stocks that were a but suck included...

  • Feltex Carpets  (FTX), -NZ$0.23 (32.86%) to NZ$0.47 on volume of 1.92m shares;
  • Cavalier Corporation (CAV), -NZ$0.15 (3.9%) to NZ$3.70 on volume of 48,000 shares;
  • Sanford Limited O (SAN), -NZ$0.08 (1.84%) to NZ$4.27 on volume of 5,000 shares;
  • Auckland International Airport (AIA), -NZ$0.04 (1.78%) to NZ$2.21 on volume of 1.3m shares; and
  • Capital Properties (CNZ), -NZ$0.02 (1.52%) to NZ$1.30 on volume of 68,000 shares.

Hong Kong's Hang Seng index advanced 40.50 points (0.29%) to 13952 at lunchtime. The morning was spent trading in a very narrow range: the index hit a high of 13966.91 after about 15 minutes of trade, and dipped as low as 13915.76 points just after the end of the first hour.

Within the Hang Seng, 14 index components rose, while 8 stocks fell. Volume in the gainers in Hong Kong's big-cap index totalled 85.5 million units, and total volume traded in losers was 8.4 million shares. Individual stocks that contributed to the advance included...

  • Lenovo Group (0992), +HK$0.05 (2.17%) to HK$2.35 on volume of 2.63m shares;
  • CNOOC (0883), +HK$0.08 (1.8%) to HK$4.25 on volume of 49.22m shares;
  • Cosco Pacific (1199), +HK$0.15 (1.05%) to HK$14.50 on volume of 2.28m shares;
  • Esprit Holdings (0330), +HK$0.50 (0.95%) to HK$53.25 on volume of 2.09m shares;
  • Denway Motors (0203), +HK$0.03 (0.87%) to HK$2.90 on volume of 6.11m shares; and
  • Johnson Electrics H (0179), +HK$0.05 (0.7%) to HK$7.15 on volume of 2.31m shares.
Regional Indices
New ZealandNZSE503168.055-12.96-0.41%20.99m
JapanNikkei 22511483.35-30.68-0.27%0
SingaporeStraits Times2203.92-5.23-0.24%0
Hong KongHang Seng13952.5340.50.29%111.93m
MalaysiaKLSE Comp896.45-0.61-0.07%0