Interdum stultus opportuna loquitur...

Thursday, July 07, 2005

OzRant: That's Gotta Hurt...

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

Another day, another little synchronicity. Today it was the Oil market; after getting several e-mails that mentioned the stuff, I decided to put my analytical methodology on full(ish) display. Once I had posted it, (it's the past directly below this one), I went to ensure that the charts were displaying correctly. Then I thought "I haven't been to recently - I'll have a look".

So I clicked the link (in the left-hand column of this site, marked Marc "Doktor Dooom" Faber - the extra 'o' is intentional), and was delighted to see a new piece by the good Doktor (you can read it here).

And blow me down if he didn't provide the best excursus on the ongoing weakness in Commodities, and he pointed out that Oil was primed for weakness (but he wouldn't short it because of the possibility of war with Iran).

As I expected, anyone who bought Tattersalls during its debut orgasm got smacked by the end of the day. At the 25 minute mark of its listed life, TTS was up 3.4% over issue price at $3.62 - but by the close it was down 1.14% at $3.46. Doesn't sound like much, but bear in mind that the dill who bought the top, lost 4.5%. Thanks for comin', moron.

Major Market Indices

The broad market - the ASX All Ordinaries - fell by 36.50 points (-0.86%), finishing at 4197.60 points. The index hit an intraday high of 4238.10 and its low was 4196.3; 4200 (XAO) and 4250 (XJO) provided intraday support, but that support failed just before the close.

Total volume traded on the ASX was a solid 1.06 billion units, 14.6% above its 10-day average. Of the 483 stocks in the index, 238 fell while 114 managed a gain. Volume was tilted in favour of the losers by a margin of 3.3:1, with 380.34 million shares traded in losers while 114.67 million shares traded in they days gainers ..

The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 - fell by 41.10 points (-0.96%), finishing at 4234.00 points.

The "heavy hitters" of the Australian market - the ASX 20 Leaders - fell by 17.60 points (-0.77%), finishing at 2279.00 points. Within the index members, there were only 2 that rose, and 17 losers (Woodside (WPL) was unchanged). Total volume in rising issues within the ASX20 amounted to 25.41m shares, while 95.61m units were traded in the duds.

The only winners in the "big guns" had a decidedly "weak $A, strong $A resources prices" feel about them -

  • BHP Billiton (BHP), +$0.20 (1.09%) to $18.60 on volume of 20.13m shares; and
  • Rio Tinto (RIO), +$0.44 (0.96%) to $46.35 on volume of 5.28m shares.

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

  • Alumina (AWC), -$0.18 (3.2%) to $5.45 on volume of 5.66m shares;
  • Wesfarmers (WES), -$0.92 (2.31%) to $38.93 on volume of 1.04m shares; and
  • QBE Insurance Group (QBE), -$0.33 (2.06%) to $15.67 on volume of 2.27m shares; and
  • Westfield Group (WDC), -$0.30 (1.66%) to $17.80 on volume of 5.05m shares; and
  • AMP Limited (AMP), -$0.10 (1.56%) to $6.30 on volume of 14.81m shares.

At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index got smacked to the tune of 27.20 points (-1.15%), finishing at 2335.10 points. The major winners in the "pop-guns" were -

  • Multiemedia (MUL), +$0.002 (14.29%) to $0.016 on volume of 17.64m shares;
  • Western Areas (WSA), +$0.15 (10.49%) to $1.58 on volume of 6.05m shares; and
  • Mosaic Oil (MOS), +$0.01 (6.06%) to $0.18 on volume of 1.36m shares; and
  • Sally Malay Mining (SMY), +$0.04 (4.65%) to $0.90 on volume of 513,000 shares; and
  • Baycorp Advantage (BCA), +$0.13 (4.53%) to $3.00 on volume of 656,000 shares.

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

  • SDI (SDI), -$0.055 (7.69%) to $0.66 on volume of 563,000 shares;
  • Ventracor (VCR), -$0.09 (6.64%) to $1.265 on volume of 1.7m shares; and
  • Great Southern Plantations (GTP), -$0.21 (5.95%) to $3.32 on volume of 6.14m shares; and
  • Timbercorp (TIM), -$0.11 (4.87%) to $2.15 on volume of 601,000 shares; and
  • Peptech (PTD), -$0.07 (4.46%) to $1.50 on volume of 1.26m shares.
Index Changes
XAOAll Ordinaries4197.6-36.5-0.86%614.98m
XTLS&P/ASX 202279-17.6-0.77%122.32m
XFLS&P/ASX 504181-39.7-0.94%250.04m
XTOS&P/ASX 1003443.5-32.1-0.92%398.7m
XJOS&P/ASX 2004234-41.1-0.96%489.05m
XKOS&P/ASX 3004226.8-40.3-0.94%0
XMDS&P/ASX Mid-Cap 504095.7-33.7-0.82%0
XSOS&P/ASX Small Ordinaries2335.1-27.2-1.15%166.17m

All Ordinaries Market Internals

Market Breadth

Advancing Volume25.41m58.5m71.86m114.6744.96348.51
Declining Volume95.61m304.62m358.45m380.3471.06596.51

S&P/ASX200 GICS Sector Indices

Not a single GICS sector rose today. Ha ha.

The worst-performed sector today was Industrials which lost 1.66% to 5061.00 points. The sector was dragged lower by

  • Coates Hire (COA), -$0.19 (4.14%) to $4.40 on volume of 458,000 shares;
  • Australian Infrastructure Fund (AIX), -$0.09 (3.41%) to $2.55 on volume of 580,000 shares;
  • Macquarie Infrastructure Group (MIG), -$0.14 (3.37%) to $4.02 on volume of 7.84m shares;
  • Wesfarmers (WES), -$0.92 (2.31%) to $38.93 on volume of 1.04m shares; and
  • United Group (UGL), -$0.18 (1.92%) to $9.18 on volume of 458,000 shares.

Just in front of last place on the sector table was Healthcare which lost 1.45% to 5235.60 points. The sector was pulled down by

  • Ventracor (VCR), -$0.09 (6.64%) to $1.27 on volume of 1.7m shares;
  • Peptech (PTD), -$0.07 (4.46%) to $1.50 on volume of 1.26m shares;
  • DCA Group (DVC), -$0.13 (3.49%) to $3.60 on volume of 1.79m shares;
  • Mayne Group (MAY), -$0.15 (3.09%) to $4.70 on volume of 2.55m shares; and
  • Novogen (NRT), -$0.12 (2.38%) to $4.92 on volume of 116,000 shares.
Sector Indices
CodeGICS SectorClose+/-%Volume
XSJConsumer Staples5477.9-55-0.99%41.76m
XDJConsumer Discretionary2220.1-24-1.07%29.16m
XXJASX200 Financials ex Property Trusts5078.6-56.8-1.11%68.67m
XIJInformation Technology375.1-4.3-1.13%4.93m
XPJProperty Trusts1815.9-24.5-1.33%116.38m

All Ordinaries Major Movers

All Ords Volume Leaders
TLSTelstra Corporation4.93-0.05-1%25.01m
BHPBHP Billiton18.600.201.09%20.13m
GPTGeneral Property Trust3.8-0.03-0.78%17.65m
SGTSingapore Telecommunications2.1500%14.82m
AMPAMP Limited6.3-0.1-1.56%14.81m


All Ords Percentage Gainers
UNWUnwired Group0.370.0619.35%4.07m
WSAWestern Areas1.580.1510.49%6.05m
UNIUnilife Medical Solutions0.6450.0457.5%143767


All Ords Percentage Decliners
GTPGreat Southern Plantations3.32-0.21-5.95%6.14m

Elsewhere in the Region...

Japan's Nikkei 225 fell a mere 13.39 points (-0.12%) to close at 11590.14 points. The index hit a high of 11602.81 (11800-ish) during the session, after dipping to 11567.51 points ten minutes after the open.

After opening at 3276.753 (also the high for the day) the Kiwi Market sagged to 3250-ish in the early going, and that level held for the rest of the day (OK - so the actual print low was 3246.645... close as you need). By the close the index was showing a decline of declined 14.47 points (-0.44%) at 3262.282 points.

A total of 9 stocks within the NZSE50 rose, with volume in advancers totalling 10.5million units. Decliners numbered 29, and total volume traded in losers was 15.1million shares. Individual stocks that led the percentage decliners included...

  • Hellaby Holdings (HBY), -NZ$0.18 (3.01%) to NZ$5.80 on volume of 67,000 shares;
  • Air New Zealand (AIR), -NZ$0.04 (2.96%) to NZ$1.31 on volume of 1.29m shares;
  • The Warehouse Group (WHS), -NZ$0.11 (2.96%) to NZ$3.61 on volume of 444,000 shares;
  • Trustpower Limited (TPW), -NZ$0.17 (2.91%) to NZ$5.68 on volume of 198,000 shares; and
  • Sanford Limited (SAN), -NZ$0.10 (2.17%) to NZ$4.50 on volume of 55,000 shares.

Hong Kong's Hang Seng index advanced just 0.38 points (0.00%) to be as near to unchanged as makes no odds. The index dropped to 14112.08 points at exactly half an hour past the open, then rallied over the next hour to set its pre-lunch high at 14156.92 points. By lunchtime it had done a couple of 40-points swings, but settled having moved nowhere.

Within the Hang Seng, 11 index components rose, while 13 stocks fell. Volume in the gainers in Hong Kong's big-cap index totalled 165.3million units, and total volume traded in losers was 36.4million shares. Individual stocks that contributed to the advance included...

  • Yue Yuen Industries (0551), +HK$0.40 (1.69%) to HK$24.05 on volume of 437,000 shares;
  • Swire Pacific A (0019), +HK$1.15 (1.68%) to HK$69.70 on volume of 1.77m shares;
  • China Resources (0291), +HK$0.20 (1.63%) to HK$12.50 on volume of 3.02m shares;
  • CNOOC (0883), +HK$0.08 (1.52%) to HK$5.00 on volume of 129.88m shares;
  • Hutchison (0013), +HK$0.70 (1%) to HK$70.80 on volume of 9.7m shares; and
  • Denway Motors (0203), +HK$0.03 (0.94%) to HK$2.68 on volume of 8.96m shares.
Regional Indices
New ZealandNZSE503262.282-14.47-0.44%32.55m
JapanNikkei 22511590.14-13.39-0.12%0
SingaporeStraits Times2224.73-9.4-0.42%0
Hong KongHang Seng14150.310.380%228.22m
MalaysiaKLSE Comp906.013.320.37%0