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Some people are surprised when they find out that I'm a big fan of Cold Chisel (and Spandau Ballet... and Tom Waits... and Kate Bush... and Crowded House
- you figure it out). Everyone knows 'Khe San' - especially people who
have never so much as handled an SLR, let alone cradled one through the
steamier parts of South-East Asia. The FN/LAR .308 may be too heavy for
US soldiers to cope with, but I would take it over that .226 plastic
piece of shit that they call a light-infantry weapon, any day.
But back to Cold Chisel...
Khe San is OK, but their lyrics are better
elsewhere - from the 'out-Springsteen Springsteen' small-town angst of
"Flame Trees", to the distemper of "Goodbye Astrid Goodbye", to the
keen insight into urban reality of "Saturday Night" and "Breakfast at Sweethearts".
And don't get me started on
"Four Walls" - probably the most evocative song I've ever heard.
Walker, Moss and Barnes really are proper word-artists.
And yet, despite
music that is chock full of some of the best and most original
Australian poetry - and I mean proper, joined-together poetry - they are considered 'bogan music'. (Not as much as AC/DC, but still a bogan band). How can his happen?
Not making a big deal about it - but from time to time these things need saying. If Howard the Chimp was less ashamed about being a "provincial" maybe he would be more inclined to remove his tongue from whosever arse he's got it wedged up, and lead a more examined life. But to do that he would have to be a good half-foot taller and somehow garner another 35 IQ points.
I've had the Split Enz classic "I Hope I Never" in my head since I got up... it's driving me batty. I was bored by the song when I first heard it... but at 15, you want loud, fast music - not men in coloured mud and lipstick babbling to a piano.
And right there is the reason
why the US is doomed - it has the value system of a mildly
dysfunctional teenager. (I wasn't dysfunctional: I was pretty talented
at almost everything I tried, but utterly lazy... like all people to
whom things come relatively easily).
Major Market Indices
The broad market - the ASX All Ordinaries (XAO) - rose by 9.30 points (0.21%), finishing at 4374.50 points. The index dipped a wee bit in the early going, falling to 4358.3 at jsut the time that the XJO touched 4400 from above (i.e., 10:50 a.m.). from there it rose almost 20 points, to hit its intraday high of 4377.10 as the XJO tested and re-tested 4420.
Total volume traded on the ASX was 950 million units, 3.1% below its 10-day average. Of the 483 stocks in the All Ords, 181 rose and 167 fell. Volume was tilted in favour of the losers by a margin of 1.2:1, with 214.55 million shares traded in losers while 181.88 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 9.90 points (0.22%), finishing at 4417.80 points.
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - rose by 8.20 points (0.35%), finishing at 2380.20 points. Within the index members, there were 10 that rose, and 10 losers. Total volume in rising issues within the ASX20 amounted to 51.68 while volume in the losers totalled 43.17m units.
The major winners in the "big guns" were -
- Woodside Petroleum (WPL), +$1.480 (4.64%) to $33.400 on volume of 3.58m shares;
- Rio Tinto (RIO), +$1.150 (2.26%) to $52.090 on volume of 4.78m shares;
- Alumina (AWC), +$0.130 (2.2%) to $6.030 on volume of 10.38m shares;
- BHP Billiton (BHP), +$0.420 (2.11%) to $20.340 on volume of 17.87m shares; and
- Coles Myer Ltd (CML), +$0.100 (1.03%) to $9.850 on volume of 3.92m shares.
The following stocks made up the biggest percentage losers in the big-guns:
- Westfield Group (WDC), -$0.57 (3.18%) to $17.33 on volume of 6.55m shares;
- News Corporation (NWSLV), -$0.24 (1.13%) to $21.03 on volume of 1.55m shares; and
- News Corporation (NWS), -$0.20 (0.88%) to $22.45 on volume of 2.29m shares; and
- Foster's Group (FGL), -$0.04 (0.74%) to $5.40 on volume of 4.22m shares; and
- Telstra Corporation (TLS), -$0.03 (0.6%) to $5.00 on volume of 17.41m shares.
At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index (XSO) - the only place where underexploited value exists with any regularity - rose by 9.80 points (0.40%), finishing at 2487.50 points. The major winners in the "pop-guns" were -
- Lynas Corporation (LYC), +$0.045 (36%) to $0.170 on volume of 2.07m shares;
- Petsec Energy (PSA), +$0.100 (8.13%) to $1.330 on volume of 769,000 shares; and
- Mcpherson's (MCP), +$0.140 (4.24%) to $3.440 on volume of 82,000 shares; and
- Consolidated Minerals (CSM), +$0.140 (3.53%) to $4.110 on volume of 1.7m shares; and
- Boom Logistics (BOL), +$0.090 (3.41%) to $2.730 on volume of 504,000 shares.
The losingest-little-guys for the session were (in order of decline):
- Platinum Capital (PMC), -$0.140 (6.39%) to $2.050 on volume of 257,000 shares;
- Mosaic Oil (MOS), -$0.010 (4.55%) to $0.210 on volume of 9.24m shares; and
- Multiemedia (MUL), -$0.001 (4.17%) to $0.023 on volume of 13.43m shares; and
- Virotec International (VTI), -$0.035 (3.98%) to $0.845 on volume of 202,000 shares; and
- Prime Television (PRT), -$0.110 (3.37%) to $3.150 on volume of 27,000 shares.
| Index Changes | |||||
| Code | Name | Close | +/- | % | Volume |
| XAO | All Ordinaries | 4374.5 | 9.3 | 0.21% | 501.76m |
| XTL | S&P/ASX 20 | 2380.2 | 8.2 | 0.35% | 94.85m |
| XFL | S&P/ASX 50 | 4351.3 | 8.6 | 0.2% | 183.55m |
| XTO | S&P/ASX 100 | 3586.2 | 7.3 | 0.2% | 276.62m |
| XJO | S&P/ASX 200 | 4417.8 | 9.9 | 0.22% | 386.09m |
| XKO | S&P/ASX 300 | 4410.9 | 9.8 | 0.22% | 0 |
| XMD | S&P/ASX Mid-Cap 50 | 4281.6 | 10.1 | 0.24% | 0 |
| XSO | S&P/ASX Small Ordinaries | 2487.5 | 9.8 | 0.4% | 167.22m |
All Ordinaries Market Internals
| Market Breadth | ||||||
| ASX20 | XTO | XJO | XAO | XSO | Market | |
| Advances | 10 | 46 | 93 | 181 | 80 | 465 |
| Declines | 10 | 42 | 76 | 167 | 71 | 420 |
| Advancing Volume | 51.68m | 109.71m | 159.71m | 181.88 | 63.59 | 399.43 |
| Declining Volume | 43.17m | 131.52m | 162.16m | 214.55 | 62.92 | 367.62 |
S&P/ASX200 GICS Sector Indices
The top sector for the day was XEJ Energy which gained 2.61% to 10245.40 points. The sector was helped by
- Woodside Petroleum (WPL), +$1.480 (4.64%) to $33.400 on volume of 3.58m shares;
- Santos (STO), +$0.330 (2.99%) to $11.380 on volume of 2.46m shares;
- Oil Search (OSH), +$0.100 (2.97%) to $3.470 on volume of 6.29m shares;
- Arc Energy (ARQ), +$0.055 (2.96%) to $1.915 on volume of 868,000 shares; and
- Hardman Resources (HDR), +$0.070 (2.92%) to $2.470 on volume of 4.6m shares.
Second in the sector leadership stakes was XMJ Materials which gained 1.16% to 8038.60 points. The sector leaders were -
- Centennial Coal Company (CEY), +$0.150 (3.06%) to $5.050 on volume of 1.75m shares;
- Zinifex (ZFX), +$0.100 (3.03%) to $3.400 on volume of 3.34m shares;
- Adelaide Brighton (ABC), +$0.060 (2.96%) to $2.090 on volume of 500,000 shares;
- Iluka Resources (ILU), +$0.200 (2.45%) to $8.350 on volume of 664,000 shares; and
- Smorgon Steel Group (SSX), +$0.030 (2.38%) to $1.290 on volume of 2.53m shares.
The bronze today went to XSJ Consumer Staples which gained 0.34% to 5703.50 points. The sector was led by
- Coles Myer Ltd (CML), +$0.100 (1.03%) to $9.850 on volume of 3.92m shares;
- Woolworths (WOW), +$0.160 (0.99%) to $16.260 on volume of 2.73m shares;
- Futuris Corporation (FCL), +$0.020 (0.93%) to $2.170 on volume of 1.13m shares;
- Coca-Cola Amatil (CCL), +$0.030 (0.38%) to $7.880 on volume of 1.51m shares; and
- Lion Nathan (LNN), +$0.020 (0.27%) to $7.520 on volume of 302,000 shares.
The worst-performed sector today was XPJ Property Trusts which lost 1.25% to 1826.70 points. The sector was dragged lower by
- Westfield Group (WDC), -$0.570 (3.18%) to $17.330 on volume of 6.55m shares;
- General Property Trust (GPT), -$0.100 (2.62%) to $3.710 on volume of 4.73m shares; and
- Mirvac Group (MGR), -$0.050 (1.25%) to $3.950 on volume of 7.24m shares; and
- DB Rreef Trust (DRT), -$0.015 (1.06%) to $1.400 on volume of 6.77m shares; and
- Macquarie Prologis Trust (MPR), -$0.010 (0.87%) to $1.145 on volume of 2.12m shares.
Just in front of last place on the sector table was XIJ Information Technology which lost 0.57% to 415.60 points. The sector was pulled down by
- ERG (ERG), -$0.005 (2.13%) to $0.230 on volume of 666,000 shares;
- Infomedia Ltd (IFM), -$0.010 (1.69%) to $0.580 on volume of 167,000 shares;
- IRESS Market Technology (IRE), -$0.070 (1.53%) to $4.510 on volume of 40,000 shares;
- Computershare (CPU), -$0.060 (0.96%) to $6.160 on volume of 816,000 shares; and
- MYOB (MYO), -$0.000 (0%) to $1.105 on volume of 106,000 shares.
| Sector Indices | |||||
| Code | GICS Sector | Close | +/- | % | Volume |
| XEJ | Energy | 10245.4 | 261 | 2.61% | 26.95m |
| XMJ | Materials | 8038.6 | 92.3 | 1.16% | 95.85m |
| XSJ | Consumer Staples | 5703.5 | 19.2 | 0.34% | 29.3m |
| XDJ | Consumer Discretionary | 2281.1 | 7 | 0.31% | 34.97m |
| XUJ | Utilities | 4964 | 14.5 | 0.29% | 3.2m |
| XHJ | Healthcare | 5332.4 | 10.2 | 0.19% | 7.87m |
| XXJ | ASX200 Financials ex Property Trusts | 5267 | -1.5 | -0.03% | 42.6m |
| XNJ | Industrials | 5195.6 | -13.5 | -0.26% | 46.12m |
| XFJ | Financials | 5158.9 | -15.7 | -0.3% | 118.96m |
| XTJ | Telecommunications | 1781.2 | -9.5 | -0.53% | 20.04m |
| XIJ | Information Technology | 415.6 | -2.4 | -0.57% | 2.74m |
| XPJ | Property Trusts | 1826.7 | -23.2 | -1.25% | 82.91m |
All Ordinaries Major Movers
| All Ords Volume Leaders | |||||
| Code | Name | Close | +/- | % | Volume |
| DYL | Deep Yellow | 0.14 | 0 | 0% | 23.76m |
| BHP | BHP Billiton | 20.34 | 0.42 | 2.11% | 17.87m |
| TLS | Telstra Corporation | 5 | -0.03 | -0.6% | 17.41m |
| MIG | Macquarie Infrastructure Group | 3.81 | -0.05 | -1.3% | 11.67m |
| AWC | Alumina | 6.03 | 0.13 | 2.2% | 10.38m |
| MOS | Mosaic Oil | 0.21 | -0.01 | -4.55% | 9.24m |
| All Ords Percentage Gainers | |||||
| Code | Name | Close | +/- | % | Volume |
| LYC | Lynas Corporation | 0.17 | 0.05 | 36% | 2.07m |
| PSA | Petsec Energy | 1.33 | 0.1 | 8.13% | 769043 |
| MST | Metal Storm | 0.19 | 0.01 | 5.71% | 3.06m |
| UNW | Unwired Group | 0.48 | 0.03 | 5.49% | 485866 |
| NHC | New Hope Corporation | 1.3 | 0.06 | 4.84% | 686527 |
| All Ords Percentage Decliners | |||||
| Code | Name | Close | +/- | % | Volume |
| PMC | Platinum Capital | 2.05 | -0.14 | -6.39% | 256681 |
| CMK | Cumnock Coal | 0.77 | -0.05 | -6.1% | 91500 |
| MOS | Mosaic Oil | 0.21 | -0.01 | -4.55% | 9.24m |
| CDX | CDS Technologies | 2.31 | -0.11 | -4.55% | 31620 |
| AGI | Ainsworth Game Technology | 0.64 | -0.03 | -4.48% | 316571 |
Elsewhere in the Region...
| nal Indices | |||||
| Country | Name | Close | +/- | % | Volume |
| New Zealand | NZSE50 | 3339.701 | -3.7 | -0.11% | 18.71m |
| Japan | Nikkei 225 | 11900.32 | 121.34 | 1.03% | 0 |
| Korea | KOSPI | 1099.77 | 13.13 | 1.21% | 454416 |
| Singapore | Straits Times | 2348.21 | 0 | 0% | 0 |
| Hong Kong | Hang Seng | 15127.57 | 18.63 | 0.12% | 166.14m |
| Malaysia | KLSE Comp | 944.21 | -3.81 | -0.4% | 0 |
