Interdum stultus opportuna loquitur...

Monday, August 22, 2005

OzRant: Another Monday Buy-Fest...

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

From time to time, the universe lets you in on a little secret - sometimes it's really basic things, like where your red socks are. Other times, it's a slightly more profound insight - the universe lets you make the connection yourself (like you would if there was a wildlife show about chimpanzees on TV, just after a speech by John Howard or George Bush).

But today was one of those "Charles Manson" moments - you know, the ones where the "Big Guy" talks to you direct and tells you stuff.

Well, not 'direct' exactly... via the Web. And (thankfully), there was no mention of murdering pregnant B-grade actresses while listening to bad Beatles songs. (Or perhaps that happens later).

This is something that resolves all religious argument - enabling Jews, Christians and Muslims (and everyone else) to be reconciled and to finally get all on the same track, at the same time. It's Pastafarianism.

Pastafarianism holds as its central tenet, that the Flying Spaghetti Monster created God (solving the old "If Gods made us, who made God?" problem right away). So whenever a Christian nutjob tells you that something is so "because God made it so", you're required to add "... precisely as he was directed to do by the FSM."

If Intelligent Design is to be introduced into schools in Kansas, why not the Pastafarian theory? If 'creationism' is 'just a theory' (and for this reason, apparently, religious whackballs want "intelligent design' taught in science classes), then al ltheories - from the Great Green Arkelseizure through to the FSM - should get equal time. 

That will ensure that by the time the Chinese decide they want all their money back, and turn up to claim the silverware, the average Americvan won't even be able to count the fingers on one hand, let alone tot up the final bill.

And if you want arguments against intelligent design, dont look at rabbit digestion or ruminant propensity to colic - look at John Howard or George Bush... why bother providing a species with stereoscopic vision if you're going to position their eyes a hair's breadth apart? (We all know that Bush's Mommy and Daddy are prob'ly a little too close in the gene pool... and both from the shallow end, too - so what's Howard's excuse? His Daddy was an escaped bonobo?)

OK... moving on...

Major Market Indices

The broad market - the ASX All Ordinaries (XAO) - rose by 32.80 points (0.74%), finishing at its session high (4462.70) after trading as low as 4429.9 within 10 minutes of the opening. Monday.

Total volume traded on the ASX was 1.04 billion units, 0.8% above its 10-day average. Of the 483 stocks in the index, 226 rose while 130 fell. Volume was tilted in favour of the gainers by a margin of 4.1:1, with 468.97million shares traded in gainers while 114.45million shares traded in the day's losers. 

It's almost comical - until you think that all of those 35-year olds earning $40k (the ones in the Industry Super ads) have had their entire retirement placed in the hands of absolute cowboys. Even with the rosy industry-super projections,  these folks will retire in 40 years with about $250k. What do you think $250k will buy you in 2050?

Anyhow - the entire Superannuatio nscheme has fuck-all to do with benefiting retirees - and everything to do with pushing money towards the financial services industry. 

The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 (XJO) - rose by 37.70 points (0.84%), finishing at 4499.30 points.

The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - rose by 13.60 points (0.57%), finishing at 2403.30 points. Within the index members, there were 12 that rose, and 8 losers. Total volume in rising issues within the ASX20 amounted to 61 while volume in the losers totalled 37.78m units.

The major winners in the "big guns" were -

  • Woodside Petroleum (WPL), +$0.960 (2.99%) to $33.110 on volume of 2.81m shares;
  • BHP Billiton (BHP), +$0.540 (2.61%) to $21.220 on volume of 18.72m shares;
  • Rio Tinto (RIO), +$0.900 (1.72%) to $53.100 on volume of 2.23m shares;
  • Amcor (AMC), +$0.120 (1.69%) to $7.240 on volume of 2.43m shares; and
  • Foster's Group (FGL), +$0.070 (1.26%) to $5.620 on volume of 5.62m shares.

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

  • News Corporation (NWSLV), -$0.23 (1.03%) to $22.05 on volume of 846,000 shares;
  • News Corporation (NWS), -$0.24 (1.03%) to $23.09 on volume of 1.16m shares; 
  • Telstra Corporation (TLS), -$0.04 (0.84%) to $4.73 on volume of 21.25m shares; 
  • Australia And New Zealand Banking Group (ANZ), -$0.15 (0.67%) to $22.14 on volume of 3.73m shares; and
  • QBE Insurance Group (QBE), -$0.12 (0.67%) to $17.72 on volume of 3.79m shares.

At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index (XSO) joined the Monday party too, rising by 25.60 points (1.01%) and finishing at 2556.70 points. The major winners in the "pop-guns" were -

  • Multiemedia (MUL), +$0.004 (18.18%) to $0.026 on volume of 130.78m shares;
  • Genetic Technologies (GTG), +$0.040 (10%) to $0.440 on volume of 950,000 shares; and
  • Coffey International (COF), +$0.210 (6.8%) to $3.300 on volume of 76,000 shares; and
  • Norwood Abbey (NAL), +$0.020 (6.67%) to $0.320 on volume of 323,000 shares; and
  • Centennial Coal Company (CEY), +$0.310 (6.05%) to $5.430 on volume of 1.39m shares.

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

  • Coates Hire (COA), -$0.270 (5.12%) to $5.000 on volume of 2.42m shares;
  • Miller's Retail (MRL), -$0.045 (5.11%) to $0.835 on volume of 399,000 shares; and
  • Psivida (PSD), -$0.045 (4.86%) to $0.880 on volume of 373,000 shares; and
  • Maxitrans Industries (MXI), -$0.040 (4.76%) to $0.800 on volume of 491,000 shares; and
  • Sydney Gas Ltd (SGL), -$0.025 (4.63%) to $0.515 on volume of 557,000 shares.
Index Changes
XAOAll Ordinaries4462.732.80.74%656.87m
XTLS&P/ASX 202403.313.60.57%98.77m
XFLS&P/ASX 504408.626.80.61%199.24m
XTOS&P/ASX 1003649.729.50.81%364.74m
XJOS&P/ASX 2004499.337.70.84%450.18m
XKOS&P/ASX 3004493.137.10.83%0
XMDS&P/ASX Mid-Cap 504470.386.31.97%0
XSOS&P/ASX Small Ordinaries2556.725.61.01%257.49m

All Ordinaries Market Internals

Market Breadth
Advancing Volume61m263.42m312.05m468.97204.23612.23
Declining Volume37.78m72.99m89.46m114.4524.54244.78

S&P/ASX200 GICS Sector Indices

The top sector for the day was XHJ Healthcare which gained 2.46% to 5623.00 points. The sector was helped by

  • Sigma Company (SIG), +$2.020 (21.6%) to $11.370 on volume of 1.63m shares;
  • Ventracor (VCR), +$0.070 (5.41%) to $1.365 on volume of 6.51m shares;
  • Healthscope (HSP), +$0.240 (4.56%) to $5.500 on volume of 455,000 shares;
  • Chemeq (CMQ), +$0.045 (3.64%) to $1.280 on volume of 115,000 shares; and
  • CSL (CSL), +$1.030 (2.96%) to $35.820 on volume of 579,000 shares.

Second in the sector leadership stakes was XEJ Energy which gained 2.17% to 10340.80 points. The sector leaders were -

  • Tap Oil (TAP), +$0.110 (3.62%) to $3.150 on volume of 1.01m shares;
  • Woodside Petroleum (WPL), +$0.960 (2.99%) to $33.110 on volume of 2.81m shares;
  • Roc Oil Company (ROC), +$0.060 (2.36%) to $2.600 on volume of 721,000 shares;
  • Worleyparsons (WOR), +$0.160 (1.93%) to $8.440 on volume of 288,000 shares; and
  • Santos (STO), +$0.190 (1.73%) to $11.190 on volume of 1.4m shares.

The bronze today went toXNJ Industrials which gained 2.02% to 5381.40 points. The sector was led by

  • Patrick Corporation (PRK), +$0.930 (14.42%) to $7.380 on volume of 49.54m shares;
  • Patrick Corporation (PRK), +$0.930 (14.42%) to $7.380 on volume of 49.54m shares;
  • Toll Holdings (TOL), +$1.090 (8.03%) to $14.670 on volume of 3.86m shares;
  • Leighton Holdings (LEI), +$0.660 (4.62%) to $14.960 on volume of 969,000 shares; and
  • Transfield Services (TSE), +$0.320 (4.11%) to $8.100 on volume of 373,000 shares.

The worst-performed sector today was XTJ Telecommunications which lost 1.07% to 1698.40 points. The sector was dragged lower by

  • Telecom Corporation Of New Zealand (TEL), -$0.130 (2.26%) to $5.610 on volume of 896,000 shares; and
  • Telstra Corporation (TLS), -$0.040 (0.84%) to $4.730 on volume of 21.25m shares.

Just in front of last place on the sector table was XIJ Information Technology, which actually gained 0.07% to 436.20 points.

Sector Indices
CodeGICS SectorClose+/-%Volume
XPJProperty Trusts1857.28.30.45%47.02m
XDJConsumer Discretionary23348.70.37%37.96m
XSJConsumer Staples5795.512.10.21%25.36m
XXJASX200 Financials ex Property Trusts5327.69.80.18%76.32m
XIJInformation Technology436.20.30.07%7.9m

All Ordinaries Major Movers

All Ords Volume Leaders
PRKPatrick Corporation7.380.9314.42%49.54m
TLSTelstra Corporation4.73-0.04-0.84%21.25m
BHPBHP Billiton21.220.542.61%18.72m
IAGInsurance Australia Group5.72-0.14-2.39%18.36m
AMPAMP Limited7.320.081.1%15.55m
All Ords Percentage Gainers
OMIOccupational & Medical Innovations0.890.1621.92%93990
SIGSigma Company11.372.0221.6%1.63m
BTABiota Holdings0.850.1215.65%5.42m
PRKPatrick Corporation7.380.9314.42%49.54m
All Ords Percentage Decliners
CDRCommander Communications2.07-0.46-18.18%6.11m
CLTCellnet Group1.25-0.11-8.09%539896
AWPArrow Pharmaceuticals2.55-0.21-7.61%1.14m
VBAVirgin Blue Holdings1.6-0.13-7.25%1.23m
SMXSms Management & Technology1.88-0.14-6.93%35561

Elsewhere in the Region...

Regional Indices
New ZealandNZSE503384.69628.110.84%22.84m
JapanNikkei 22512452.51160.781.31%0
SingaporeStraits Times2302.1415.780.69%0
Hong KongHang Seng15082.7644.150.29%122.34m
MalaysiaKLSE Comp924.62-0.92-0.1%0