Interdum stultus opportuna loquitur...

Friday, July 01, 2005

OzRant: Round Numbers are King (For Now)...

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

At the moment, I'm not at my normal position at my PC at Schloss Rant; as a result I have had to make do with an old version of the RantBuilder which I fortunately 'hid' online in one of those webspace storage places. Hence, I have hand-crafted FAR too much of this Rant, and I am already fed up with having to use a primeval HTML editor. So I will keep the opening remarks brief, lest I burst into tears and throw this PC (which isn't mine) out of the window.

Major Market Indices

The broad market - the ASX All Ordinaries - fell by 5.80 points (-0.14%), finishing at 4224.10 points - but it was looking a lot worse in the early going until that lovely round-number support at 4r200 came into play at 10:30 a.m. Sydney time. From the low (at 4200.90 - let's call it 4200-ish) the index rallied without much ado to the 'next quarter' (4225-ish), hitting its intraday high of 4229.90 about 20 minutes before the close.

Total volume traded on the ASX was 850 million units, 15.5% below its 10-day average. The advance-decline stats for the entire market were pretty evenly spread between uppers and downers - but oddly enough they were better the further out you got in the market-cap spectrum.

Of the 483 stocks in the All Ords, 187 rose while 175 fell. Volume was tilted in favour of the losers by a margin of 1.1:1, with 232.02 million shares traded in losers while 220.51 million shares traded in the gainers.

The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 - fell by 4.90 points (-0.11%), finishing at 4272.60 points.

The "heavy hitters" of the Australian market - the ASX 20 Leaders - fell by 4.10 points (-0.18%), finishing at 2297.10 points. Within the index members, there were 10 that rose, and 10 losers. Total volume in rising issues within the ASX20 amounted to 40.33 while volume in the losers totalled 55.35m units.

The major winners in the "big guns" were -

  • Alumina (AWC), +$0.09 (1.62%) to $5.66 on volume of 2.78m shares;
  • Foster's Group (FGL), +$0.07 (1.32%) to $5.39 on volume of 4.56m shares; and
  • AMP Limited (AMP), +$0.07 (1.08%) to $6.54 on volume of 5.53m shares; and
  • Rio Tinto (RIO), +$0.30 (0.67%) to $45.12 on volume of 2.51m shares; and
  • Westfield Group (WDC), +$0.11 (0.62%) to $17.85 on volume of 4.61m shares.

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

  • Woodside Petroleum (WPL), -$0.67 (2.29%) to $28.58 on volume of 1.7m shares;
  • Wesfarmers (WES), -$0.36 (0.9%) to $39.65 on volume of 924,000 shares; and
  • Telstra Corporation (TLS), -$0.04 (0.79%) to $5.02 on volume of 21.16m shares; and
  • Woolworths (WOW), -$0.13 (0.79%) to $16.38 on volume of 2.28m shares; and
  • National Australia Bank (NAB), -$0.21 (0.68%) to $30.55 on volume of 5.28m 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 - fell by 4.10 points (-0.17%), finishing at 2366.90 points. The major winners in the "pop-guns" were -

  • Boom Logistics (BOL), +$0.36 (16%) to $2.61 on volume of 4.64m shares;
  • Circadian Technologies (CIR), +$0.13 (10.64%) to $1.30 on volume of 127,000 shares; and
  • Croesus Mining (CRS), +$0.04 (9.86%) to $0.39 on volume of 5.49m shares; and
  • Norwood Abbey (NAL), +$0.03 (8.82%) to $0.37 on volume of 274,000 shares; and
  • Kresta Holdings (KRS), +$0.02 (8%) to $0.27 on volume of 306,000 shares.

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

  • Great Southern Plantations (GTP), -$0.71 (16.86%) to $3.50 on volume of 27.2m shares;
  • Dragon Mining (DRA), -$0.02 (6.52%) to $0.22 on volume of 85,000 shares; and
  • Sydney Gas Ltd (SGL), -$0.04 (6.36%) to $0.52 on volume of 336,000 shares; and
  • Timbercorp (TIM), -$0.11 (4.74%) to $2.21 on volume of 1.22m shares; and
  • Cellestis (CST), -$0.10 (3.38%) to $2.86 on volume of 51,000 shares.
Index Changes
XAOAll Ordinaries4224.1-5.8-0.14%590.98m
XTLS&P/ASX 202297.1-4.1-0.18%95.68m
XFLS&P/ASX 504218.5-3.9-0.09%211.93m
XTOS&P/ASX 1003472.7-3.4-0.1%359.11m
XJOS&P/ASX 2004272.6-4.9-0.11%470.11m
XKOS&P/ASX 3004264.6-4.5-0.11%0
XMDS&P/ASX Mid-Cap 504118.3-5.5-0.13%0
XSOS&P/ASX Small Ordinaries2366.9-4.1-0.17%207.08m

All Ordinaries Market Internals

Market Breadth

Advancing Volume40.33m160.98m179.66m220.5192.73426.09
Declining Volume55.35m133.4m200.36m232.0272.03299.88

S&P/ASX200 GICS Sector Indices

The top sector for the day was Property Trusts which gained 0.78% to 1812.60 points. The sector was helped by

  • Multiplex Group (MXG), +$0.12 (4.12%) to $3.03 on volume of 21.95m shares;
  • Mirvac Group (MGR), +$0.12 (3.36%) to $3.69 on volume of 5.36m shares; and
  • ING Industrial Fund (IIF), +$0.03 (1.44%) to $2.12 on volume of 4.12m shares; and
  • General Property Trust (GPT), +$0.05 (1.37%) to $3.70 on volume of 13.23m shares; and
  • Centro Properties Group (CNP), +$0.08 (1.36%) to $5.97 on volume of 2.21m shares.

Second in the sector leadership stakes was Utilities which gained 0.27% to 4965.30 points. The sector leaders were -

  • Gasnet Australia Group (GAS), +$0.14 (5.56%) to $2.66 on volume of 7.99m shares;
  • Alinta (ALN), +$0.16 (1.64%) to $9.91 on volume of 1.62m shares;
  • Diversified Utility And Energy Trusts (DUE), +$0.03 (1.22%) to $2.49 on volume of 440,000 shares;
  • Energy Developments (ENE), +$0.05 (1.19%) to $4.25 on volume of 68,000 shares; and
  • Australian Pipeline Trust (APA), +$0.04 (1.06%) to $3.80 on volume of 90,000 shares.

The bronze today went to Financials which gained 0.26% to 5082.50 points. The sector was led by

  • IOOF Holdings (IFL), +$0.35 (5.26%) to $7.01 on volume of 60,000 shares;
  • Multiplex Group (MXG), +$0.12 (4.12%) to $3.03 on volume of 21.95m shares; and
  • Mirvac Group (MGR), +$0.12 (3.36%) to $3.69 on volume of 5.36m shares; and
  • Perpetual Trustees Australia (PPT), +$1.74 (3.03%) to $59.17 on volume of 181,000 shares; and
  • Promina Group (PMN), +$0.11 (2.34%) to $4.82 on volume of 6.9m shares.

The worst-performed sector today was Energy which lost 1.37% to 9374.10 points - oil prices are a drag at the moment, obviously. The sector was dragged lower by

  • Santos (STO), -$0.28 (2.47%) to $11.04 on volume of 4.01m shares;
  • Woodside Petroleum (WPL), -$0.67 (2.29%) to $28.58 on volume of 1.7m shares;
  • Oil Search (OSH), -$0.07 (2.28%) to $3.00 on volume of 9.55m shares;
  • Australian Worldwide Exploration (AWE), -$0.05 (2.23%) to $1.98 on volume of 3.04m shares; and
  • Caltex Australia (CTX), -$0.30 (1.89%) to $15.55 on volume of 375,000 shares.

Just in front of last place on the sector table was Information Technology which lost 1.22% to 381.40 points. The sector was pulled down by

  • IRESS Market Technology (IRE), -$0.10 (2.33%) to $4.20 on volume of 1.36m shares;
  • Computershare (CPU), -$0.13 (2.22%) to $5.73 on volume of 3.3m shares;
  • Baycorp Advantage (BCA), -$0.00 (0%) to $3.03 on volume of 2.49m shares;
  • Infomedia Ltd (IFM), +$0.01 (2.04%) to $0.50 on volume of 268,000 shares; and
  • MYOB (MYO), +$0.03 (2.35%) to $1.09 on volume of 2.24m shares.
Sector Indices
CodeGICS SectorClose+/-%Volume
XPJProperty Trusts1812.6140.78%139.33m
XXJASX200 Financials ex Property Trusts5178.66.20.12%60.46m
XDJConsumer Discretionary2232.8-0.7-0.03%30.45m
XSJConsumer Staples5603.4-7.2-0.13%33.49m
XIJInformation Technology381.4-4.7-1.22%11.96m

All Ordinaries Major Movers

All Ords Volume Leaders
GTPGreat Southern Plantations3.5-0.71-16.86%27.2m
MXGMultiplex Group3.030.124.12%21.95m
TLSTelstra Corporation5.02-0.04-0.79%21.16m
SGTSingapore Telecommunications2.13-0.01-0.47%14.31m
GPTGeneral Property Trust3.70.051.37%13.23m

All Ords Percentage Gainers
BOLBoom Logistics2.610.3616%4.64m
CIRCircadian Technologies1.30.1310.64%127316
CRSCroesus Mining0.390.049.86%5.49m
DOMDominion Mining0.360.039.09%243053


All Ords Percentage Decliners
GTPGreat Southern Plantations3.5-0.71-16.86%27.2m
SGLSydney Gas Ltd0.52-0.04-6.36%335763
MIRMirrabooka Investments1.49-0.08-5.1%85611
IGPInvestor Group4.4-0.2-4.35%17665

Elsewhere in the Region...

Regional Indices
New ZealandNZSE503235.346-11.14-0.34%34.24m
JapanNikkei 22511630.1346.120.4%0
SingaporeStraits Times2214.121.460.07%0
Hong KongHang Seng14201.06-76.22-0.53%388.63m
MalaysiaKLSE Comp892.914.590.52%0