Interdum stultus opportuna loquitur...

Friday, August 05, 2005

OzRant: Early Dip Recovered Before Closing...

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I've never thought ot myself as the 'shy' type, but it goes to show that the deliberate scarifying of the social discourse (which has been deliberately undermined by government for two generations) is so very pernicious.

Imagine it was Australia, 1950 (or England, or the US, for that matter). Two people you didn't know were discussing a movie that you had seen, and which you thought was quite possibly the best piece of acting you had ever seen. Do you think you would have thought twice about saying "I say, gents - that movie you're discussing - I've seen it, and it's terrific."

Not today - even my self-regulatory system pulls up at that particular barrier. (The movie in question was 'Slingblade', in which Billy-Bob Thornton gives what is almost certainly the best acting performance in western dramatic history).

It reminds me of a day back in 1991 when I was at the airport waiting for someone. My girlfriend had just made friends with an adorable little boy with a bowl haircut and all-matching Osh-Kosh clothes, who was clearly mad about her (the mother was nowhere in sight).

Joanna went to the toilet, leaving the little lad sitting in a seat next to me. When the mother got back from wherever she had been, you would have sworn that I had the tyke spreadeagled on a sacrificial altar with a knife at his throat. (I was trying to fend him off, actually - he thought it was funny to climb all over me).

Seriously, though: by encouraging people to be suspicious - if not outright hostile - to strangers, governments 'compartmentalise' society... the better to control it. New mothers are the best prey for this government scaremongering; they have something they consider the most precious thing in the world, and the government convinces them that strangers on average intend to do harm to their bundles of joy (when most child sexual abuse is undertaken by non-biological de facto partners of single mothers). By deliberately conflating risk with hazard, governments encourage  their populations to overestimate the probability of significant negative events (e.g., child abduction, terrorism, drug addiction, death from drunk driving, child deaths near schools... the list goes on and on).

Anyhow... just thinking. If I had my time over again, I would have interjected (politely) into the Slingblade conversation. I probably would have given the participants my dreaded lurgi, and they would be hospitalised by now ...

Major Market Indices

After a weak first 90-minutes, the broad market - the ASX All Ordinaries (XAO) - recovered to post a rise of 6.00 points (0.14%), finishing at 4333.10 points. The index hit an intraday high of 4336.00 about ten minutes before closing, after dipping as low as 4317.3 just after 1:30 a.m. Sydney time.

Interesting that the Australian market managed to shrug off the regional weakness (Japan dropped almost a percent, as did Hongkers; Singapore and Korea dropped over 1%).

For the week, the All Ords lost 13 points, while the ASX200 dipped 11 points.

Total volume traded on the ASX today was 1.05 billion units, 4.9% above its 10-day average.

Of the 483 stocks in the All Ords, 196 rose while 143 fell. Volume was tilted in favour of the gainers by a margin of 1.7:1, with 268.92 million shares traded in gainers while 162.17 million shares traded in the day's losers.

The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 (XJO) - rose by a miniscule 3.60 points (0.08%), finishing at 4377.30 points.

The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - rose by an even more miniscule 0.40 points (0.02%), finishing at 2346.20 points. Within the index members, there were 11 that rose, and 7 losers. Total volume in rising issues within the ASX20 amounted to 41.92 while volume in the losers totalled 53.01m units.

The major winners in the "big guns" were -

  • Coles Myer Ltd (CML), +$0.130 (1.34%) to $9.830 on volume of 8.44m shares;
  • Alumina (AWC), +$0.070 (1.21%) to $5.850 on volume of 4.66m shares;
  • QBE Insurance Group (QBE), +$0.160 (0.97%) to $16.610 on volume of 2.18m shares;
  • Foster's Group (FGL), +$0.040 (0.75%) to $5.400 on volume of 6.6m shares; and
  • Westpac Banking Corporation (WBC), +$0.080 (0.41%) to $19.530 on volume of 5.15m shares.

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

  • BHP Billiton (BHP), -$0.20 (1.01%) to $19.60 on volume of 13.47m shares;
  • AMP Limited (AMP), -$0.03 (0.45%) to $6.70 on volume of 4.86m shares; and
  • Rio Tinto (RIO), -$0.20 (0.4%) to $50.40 on volume of 2.12m shares; and
  • Wesfarmers (WES), -$0.15 (0.37%) to $40.15 on volume of 691,000 shares; and
  • St George Bank (SGB), -$0.08 (0.31%) to $26.12 on volume of 739,000 shares.

At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index (XSO) rose by 7.40 points (0.30%), finishing at 2464.00 points. The major winners in the "pop-guns" were -

  • Integrated Group (IWF), +$0.130 (8.33%) to $1.690 on volume of 100,000 shares;
  • PMP (PMP), +$0.095 (6.86%) to $1.480 on volume of 6.47m shares; and
  • Agenix (AGX), +$0.015 (4.17%) to $0.375 on volume of 914,000 shares; and
  • Lynas Corporation (LYC), +$0.005 (4%) to $0.130 on volume of 40,000 shares; and
  • Genetic Technologies (GTG), +$0.015 (3.61%) to $0.430 on volume of 672,000 shares.

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

  • Bendigo Mining (BDG), -$0.100 (8.55%) to $1.070 on volume of 2.62m shares;
  • Colorado Group (CDO), -$0.310 (6.18%) to $4.710 on volume of 1.73m shares; and
  • Antares Energy (AZZ), -$0.025 (4.81%) to $0.495 on volume of 299,000 shares; and
  • Pacifica Group (PBB), -$0.100 (3.89%) to $2.470 on volume of 2.23m shares; and
  • Brazin (BRZ), -$0.060 (3.35%) to $1.730 on volume of 37,000 shares.
Index Changes
XAOAll Ordinaries4333.160.14%606.78m
XTLS&P/ASX 202346.20.40.02%102.72m
XFLS&P/ASX 5043081.20.03%198.89m
XTOS&P/ASX 1003553.72.20.06%330.49m
XJOS&P/ASX 2004377.33.60.08%437.98m
XKOS&P/ASX 3004370.73.50.08%0
XMDS&P/ASX Mid-Cap 504264.69.90.23%0
XSOS&P/ASX Small Ordinaries24647.40.3%203.36m

All Ordinaries Market Internals

Market Breadth

Advancing Volume41.92m176.2m206.58m268.9267.59562.04
Declining Volume53.01m104.72m136.17m162.1742.77303.7

S&P/ASX200 GICS Sector Indices

The top sector for the day was XNJ Industrials which gained 0.48% to 5190.40 points. The sector was helped by

  • PMP (PMP), +$0.095 (6.86%) to $1.480 on volume of 6.47m shares;
  • Downer EDI (DOW), +$0.160 (2.85%) to $5.770 on volume of 396,000 shares;
  • Patrick Corporation (PRK), +$0.140 (2.41%) to $5.940 on volume of 2.3m shares;
  • Patrick Corporation (PRK), +$0.140 (2.41%) to $5.940 on volume of 2.3m shares; and
  • Toll Holdings (TOL), +$0.300 (2.22%) to $13.800 on volume of 933,000 shares.

Second in the sector leadership stakes was XEJ Energy which gained 0.45% to 9698.90 points. The sector leaders were -

  • Oil Search (OSH), +$0.030 (0.91%) to $3.340 on volume of 6.59m shares;
  • Hardman Resources (HDR), +$0.020 (0.85%) to $2.380 on volume of 7.22m shares;
  • Caltex Australia (CTX), +$0.120 (0.71%) to $16.970 on volume of 701,000 shares;
  • Tap Oil (TAP), +$0.020 (0.7%) to $2.860 on volume of 1.15m shares; and
  • Origin Energy (ORG), +$0.040 (0.56%) to $7.190 on volume of 3.45m shares.

The bronze today went toXPJ Property Trusts which gained 0.43% to 1867.40 points. The sector was led by

  • Multiplex Group (MXG), +$0.110 (3.47%) to $3.280 on volume of 4.51m shares;
  • General Property Trust (GPT), +$0.050 (1.3%) to $3.900 on volume of 6.97m shares;
  • Mirvac Group (MGR), +$0.040 (1%) to $4.030 on volume of 2.41m shares;
  • Galileo Shopping America Trust (GSA), +$0.010 (0.85%) to $1.190 on volume of 4.13m shares; and
  • Stockland (SGP), +$0.050 (0.85%) to $5.960 on volume of 2.62m shares.

The worst-performed sector today was XHJ Healthcare which lost 0.97% to 5316.00 points. The sector was dragged lower by

  • Chemeq (CMQ), -$0.040 (2.97%) to $1.305 on volume of 314,000 shares;
  • Cochlear (COH), -$0.770 (2.01%) to $37.560 on volume of 347,000 shares;
  • Peptech (PTD), -$0.030 (1.97%) to $1.490 on volume of 1.13m shares;
  • Resmed Inc (RMD), -$0.140 (1.62%) to $8.480 on volume of 448,000 shares; and
  • Mayne Group (MAY), -$0.070 (1.44%) to $4.790 on volume of 1.88m shares.

Just in front of last place on the sector table was XIJ Information Technology which lost 0.19% to 415.20 points. The sector was pulled down by

  • MYOB (MYO), -$0.015 (1.36%) to $1.085 on volume of 2.43m shares;
  • Vision Systems (VSL), -$0.015 (1.27%) to $1.170 on volume of 534,000 shares;
  • Computershare (CPU), -$0.010 (0.16%) to $6.180 on volume of 1.14m shares;
  • Infomedia Ltd (IFM), -$0.000 (0%) to $0.590 on volume of 45,000 shares; and
  • Baycorp Advantage (BCA), -$0.000 (0%) to $3.810 on volume of 1.27m shares.
Sector Indices
CodeGICS SectorClose+/-%Volume
XPJProperty Trusts1867.480.43%94.34m
XSJConsumer Staples5666.116.60.29%38.07m
XXJASX200 Financials ex Property Trusts5219.340.08%47.06m
XDJConsumer Discretionary2252.900%40.09m
XIJInformation Technology415.2-0.8-0.19%7.42m

All Ordinaries Major Movers

All Ords Volume Leaders
DYLDeep Yellow0.130.018.33%34.55m
SGTSingapore Telecommunications2.080.010.48%30.95m
TLSTelstra Corporation4.96-0.01-0.2%28.92m
BHPBHP Billiton19.6-0.2-1.01%13.47m
LHGLihir Gold1.420.064.03%13.24m

All Ords Percentage Gainers
IWFIntegrated Group1.690.138.33%99980
GDMGoldstream Mining0.410.037.89%383598
AGIAinsworth Game Technology0.690.046.15%260447

All Ords Percentage Decliners
BDGBendigo Mining1.07-0.1-8.55%2.62m
CDOColorado Group4.71-0.31-6.18%1.73m
AZZAntares Energy0.5-0.03-4.81%299050
PBBPacifica Group2.47-0.1-3.89%2.23m

Elsewhere in the Region...

Regional Indices
New ZealandNZSE503348.669-5.38-0.16%29.31m
JapanNikkei 22511766.48-116.83-0.98%0
SingaporeStraits Times2336.4-25.99-1.1%0
Hong KongHang Seng14988.38-123.16-0.82%188.08m
MalaysiaKLSE Comp943.84-1.39-0.15%0