Interdum stultus opportuna loquitur...

Thursday, August 04, 2005

OzRant: It Tried, It Tried... Then Thought "Bugger It"...

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

There's few things less joy-making than trying to do stuff when you lungs are full of snot and your head is full of pseudoephedrine. The song says "Soldier on", but frankly that is about all you could do after taking a few Codrals - your concentration falls away so fast that about the only task you could reliably perform is to charge the enemy guns. Anything that involves thinking, forget it.

The 500th instalment of the Rant came and went, and I didn't even notice it (I had planned to try and do someting interesting). Since I have missed the odd OzRant (maybe 6 for the entire year) and very occasionally a USRant, I thought that the 500-mark would arrive somewhere after the anniversary of the birth of the Rant.

Not so - there have been sufficient extraneous blatherings to propel the post-count past 500 (as of yesterday, as it happens).

All the stars are lining up - even Lateline departed from its usual role as propaganda-slut for the Australian government, by having Michael Scheuer as a guest. The host - knowing that Scheuer is a 22-year CIA man with impeccable credentials - was not as abrasive as he usually is with anti-Iraq-War types. It reminded me of the time that Margaret Thatcher was on Lateline, and made Red Kerry O'Brien look like an errant schoolboy.

Still, I am way behind on a load of key tasks, which annoys the hell out of me. If I can't get back above the task schedule by tomorrow morning, I might even ditch the USRant (or just post the auto-generated bits).

Major Market Indices

The broad market - the ASX All Ordinaries (XAO) - rose by 1.20 points (0.03%), finishing at 4327.10 points. The index raced out of the gates as if it had something on its mind, but by mid-afternoon it was on its way back to where it started. Perhaps it had forgotten its keys.

The All Ords tried several times during the morning to have a crack at 4350, but just never got there. In fact the opening leap - which saw the index at 4347.60 after the first hour - proved to be the day's high. The market's low was 4326.3, set ten minutes before the close.

Total volume traded on the ASX was a solid 1.02 billion units, 2.3% above its 10-day average. Of the 483 stocks in the All Ords, 169 rose while 166 fell. Volume was tilted in favour of the losers by a margin of 1.8:1, with 364.81 million shares traded in losers while 207.72 million shares traded in the day's gainers.

The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 (XJO) - rose by 4.90 points (0.11%), finishing at 4373.70 points. It had another several cracks at The 4400, but again gave up at midday after getting to a high of 4397, got the shits and took its bat and ball and went home. (Well, it pretty much went back to where it started the day).

The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - rose by 3.10 points (0.13%), finishing at 2345.80 points. Within the index members, there were 7 that rose, and 13 losers. Total volume in rising issues within the ASX20 amounted to 47.61 while volume in the losers totalled 86.73m units.

The major winners in the "big guns" were -

  • Coles Myer Ltd (CML), +$0.200 (2.1%) to $9.710 on volume of 7.16m shares;
  • Rio Tinto (RIO), +$0.810 (1.62%) to $50.720 on volume of 4.21m shares;
  • BHP Billiton (BHP), +$0.290 (1.49%) to $19.810 on volume of 19.55m shares;
  • AMP Limited (AMP), +$0.080 (1.2%) to $6.730 on volume of 7.45m shares; and
  • Wesfarmers (WES), +$0.320 (0.8%) to $40.330 on volume of 550,000 shares.

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

  • News Corporation (NWSLV), -$0.37 (1.74%) to $20.90 on volume of 1.58m shares;
  • Alumina (AWC), -$0.10 (1.7%) to $5.78 on volume of 8.63m shares; and
  • News Corporation (NWS), -$0.32 (1.42%) to $22.27 on volume of 2.5m shares; and
  • St George Bank (SGB), -$0.26 (0.98%) to $26.19 on volume of 1.98m shares; and
  • Foster's Group (FGL), -$0.05 (0.92%) to $5.36 on volume of 5.38m shares.

At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index (XSO) rose by 1.50 points (0.06%), finishing at 2456.60 points. The major winners in the "pop-guns" were -

  • Pacifica Group (PBB), +$0.430 (20.09%) to $2.570 on volume of 4.66m shares;
  • Western Areas (WSA), +$0.130 (7.18%) to $1.940 on volume of 934,000 shares; and
  • Silex Systems (SLX), +$0.060 (6.03%) to $1.055 on volume of 290,000 shares; and
  • Wattyl (WYL), +$0.150 (6%) to $2.650 on volume of 547,000 shares; and
  • Sydney Gas Ltd (SGL), +$0.025 (4.63%) to $0.565 on volume of 2.13m shares.

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

  • Genetic Technologies (GTG), -$0.025 (5.68%) to $0.415 on volume of 429,000 shares;
  • Hardman Resources (HDR), -$0.130 (5.22%) to $2.360 on volume of 27.69m shares; and
  • Multiemedia (MUL), -$0.001 (4%) to $0.024 on volume of 37.87m shares; and
  • McPherson's (MCP), -$0.110 (3.35%) to $3.170 on volume of 134,000 shares; and
  • Energy Developments (ENE), -$0.150 (3.26%) to $4.450 on volume of 421,000 shares.
Bear in mind when you see those stocks with large percentage changes - you can click on the stock codes to see what news (if any) was released to the market today.
Index Changes
XAOAll Ordinaries4327.11.20.03%686.2m
XTLS&P/ASX 202345.83.10.13%134.34m
XFLS&P/ASX 504306.88.20.19%222.35m
XTOS&P/ASX 1003551.54.20.12%349m
XJOS&P/ASX 2004373.74.90.11%477.48m
XKOS&P/ASX 3004367.250.11%0
XMDS&P/ASX Mid-Cap 504254.7-12.2-0.29%0
XSOS&P/ASX Small Ordinaries2456.61.50.06%206.87m

All Ordinaries Market Internals

Market Breadth

Advancing Volume47.61m142.4m187.4m207.7245.84432.29
Declining Volume86.73m173.66m223.01m364.81108.47456.8

S&P/ASX200 GICS Sector Indices

The top sector for the day was XMJ Materials which gained 0.80% to 7896.80 points. The sector was helped by

  • Wattyl (WYL), +$0.150 (6%) to $2.650 on volume of 547,000 shares;
  • Croesus Mining (CRS), +$0.010 (2.78%) to $0.370 on volume of 1.31m shares;
  • Boral (BLD), +$0.190 (2.7%) to $7.240 on volume of 4.92m shares;
  • Aquarius Platinum (AQP), +$0.160 (2.11%) to $7.740 on volume of 65,000 shares; and
  • Oxiana (OXR), +$0.020 (1.89%) to $1.080 on volume of 19.19m shares.

Second in the sector leadership stakes was XNJ Industrials which gained 0.46% to 5165.40 points. The sector leaders were -

  • Crane Group (CRG), +$0.460 (4.69%) to $10.260 on volume of 1.18m shares;
  • Hills Industries (HIL), +$0.140 (3.23%) to $4.480 on volume of 131,000 shares;
  • Corporate Express Australia (CXP), +$0.120 (2.17%) to $5.660 on volume of 207,000 shares;
  • GWA International (GWT), +$0.050 (1.66%) to $3.070 on volume of 213,000 shares; and
  • Macquarie Infrastructure Group (MIG), +$0.060 (1.55%) to $3.920 on volume of 5.2m shares.

The bronze today went toXSJ Consumer Staples which gained 0.27% to 5649.50 points. The sector was led by

  • AWB (AWB), +$0.160 (3.37%) to $4.910 on volume of 666,000 shares;
  • Coles Myer Ltd (CML), +$0.190 (2%) to $9.700 on volume of 7.16m shares;
  • Lion Nathan (LNN), +$0.110 (1.47%) to $7.600 on volume of 1.11m shares;
  • Burns, Philp & Company (BPC), +$0.010 (1.1%) to $0.915 on volume of 1.74m shares; and
  • Coca-Cola Amatil (CCL), +$0.040 (0.51%) to $7.840 on volume of 1.35m shares.

The worst-performed sector today was XEJ Energy which lost 0.88% to 9655.00 points after the overnight reversal in the oil price. The sector was dragged lower by

  • Hardman Resources (HDR), -$0.130 (5.22%) to $2.360 on volume of 27.69m shares;
  • Oil Search (OSH), -$0.060 (1.78%) to $3.310 on volume of 9.55m shares;
  • Caltex Australia (CTX), -$0.250 (1.46%) to $16.850 on volume of 574,000 shares;
  • Roc Oil Company (ROC), -$0.030 (1.26%) to $2.360 on volume of 1.54m shares; and
  • Santos (STO), -$0.110 (1%) to $10.840 on volume of 1.13m shares.

Just in front of last place on the sector table was XUJ Utilities which lost 0.84% to 4936.10 points. The sector was pulled down by

  • Energy Developments (ENE), -$0.150 (3.26%) to $4.450 on volume of 421,000 shares;
  • Australian Gas Light Company (AGL), -$0.190 (1.34%) to $13.990 on volume of 2m shares;
  • Envestra (ENV), -$0.005 (0.44%) to $1.140 on volume of 497,000 shares;
  • Alinta (ALN), -$0.020 (0.2%) to $9.760 on volume of 988,000 shares; and
  • Pacific Hydro (PHY), -$0.000 (0%) to $5.000 on volume of 363,000 shares.
Sector Indices
CodeGICS SectorClose+/-%Volume
XSJConsumer Staples5649.515.40.27%34.16m
XPJProperty Trusts1859.44.90.26%72.56m
XIJInformation Technology4160.10.02%5.97m
XXJASX200 Financials ex Property Trusts5215.3-0.7-0.01%59.3m
XDJConsumer Discretionary2252.9-14.1-0.62%28.59m

All Ordinaries Major Movers

All Ords Volume Leaders
SGTSingapore Telecommunications2.07-0.14-6.33%69.97m
TLSTelstra Corporation4.97-0.05-1%46.63m
HDRHardman Resources2.36-0.13-5.22%27.69m
MAPMacquarie Airports3.22-0.02-0.62%24.41m
BHPBHP Billiton19.80.281.43%19.55m

All Ords Percentage Gainers
PBBPacifica Group2.570.4320.09%4.66m
CGXCentral Asia Gold0.70.1118.64%102950
WSAWestern Areas1.940.137.18%934205
SLXSilex Systems1.060.066.03%290271

All Ords Percentage Decliners
ARPArb Corporation3-0.3-9.09%1.83m
SGTSingapore Telecommunications2.07-0.14-6.33%69.97m
GTGGenetic Technologies0.42-0.03-5.68%429039
HDRHardman Resources2.36-0.13-5.22%27.69m
UNIUnilife Medical Solutions0.51-0.03-4.72%201315

Elsewhere in the Region...

Regional Indices
New ZealandNZSE503354.0534.990.15%33.32m
JapanNikkei 22511883.31-98.49-0.82%0
SingaporeStraits Times2367.652.460.1%0
Hong KongHang Seng15100.63-17.87-0.12%234.03m
MalaysiaKLSE Comp943.89-8.7-0.91%0