Interdum stultus opportuna loquitur...

Thursday, August 25, 2005

OzRant: Three In A Row... And A Closing Pump.

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

Three dops on the trot - hasn't happened for a while, but it was well overdue. And call me finicky, but when index arb manipulations drive the index closing numbers back up above key levels right at the close, it doesn't actually bode very well. It just shows that - as usual - the institutional players think the index numbers are something to piss around with whenever they see fit.

You'll notice (I think) that the GICS index table is now sortable - that's just to continue the testing of the actual sort mechanism... to see it in a more useful setting, check RantPro's Index Component Summary.

You will notice that you can't easily change away from whichever index you first choose - that's because it's part of the subscriber area (subscribers can change the index code, assuming they're not the victims of my password stuffups).

Also, as a free-viewer you can't change it from Fundamental View (the default) to 'Performance View' (the alternative, which lists components by various price-performance metrics - %change over 1,3,5, and 12 months, plus GQ-alpha, and a couple of other things - trend, trend condition... blah blah blah... all very sexy, but still not properly sorted out).

Anyhow - let's get on with it.

Major Market Indices

The broad market - the ASX All Ordinaries (XAO) - fell by 20.40 points (-0.46%), finishing at 4403.80 points, but prior to the closing matchout the index was trading near its low at 4390 (the low was 4385.9). The index opened at its high (4417.00) and actually set its intraday low at almost exactly noon.

Total volume traded on the ASX was a solid 1.24 billion units, 15.6% above its 10-day average. Of the 483 stocks in the All Ords index, 201 fell while 156 managed a gain. Volume was tilted in favour of the losers by a margin of 2.4:1, with 529.11million shares traded in losers while 219.27million 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) - fell by 18.10 points (-0.41%), finishing at 4437.20 points. Again, only a blatant ramp-job at the close, undertaken by professional charlatans, prevented a close under 4425.

The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - fell by 9.90 points (-0.42%), finishing at 2365.10 points. Within the index members, there were 8 that rose, and 12 losers. Total volume in rising issues within the ASX20 amounted to 50.58m shares, while volume in the losers totalled 101.06m units.

The major winners in the "big guns" were -

  • Woodside Petroleum (WPL), +$0.640 (1.99%) to $32.820 on volume of 1.68m shares;
  • Coles Myer Ltd (CML), +$0.150 (1.54%) to $9.900 on volume of 7.75m shares;
  • St George Bank (SGB), +$0.370 (1.41%) to $26.640 on volume of 797,000 shares;
  • Australia And New Zealand Banking Group (ANZ), +$0.210 (0.96%) to $22.010 on volume of 6.07m shares; and
  • Telstra Corporation (TLS), +$0.020 (0.42%) to $4.740 on volume of 28.27m shares.

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

  • Rio Tinto (RIO), -$2.27 (4.31%) to $50.45 on volume of 6.21m shares;
  • BHP Billiton (BHP), -$0.66 (3.21%) to $19.90 on volume of 41m shares; and
  • Amcor (AMC), -$0.18 (2.65%) to $6.60 on volume of 8.56m shares; and
  • News Corporation (NWS), -$0.38 (1.65%) to $22.60 on volume of 2.74m shares; and
  • Foster's Group (FGL), -$0.09 (1.59%) to $5.56 on volume of 7.65m 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 - fell by 0.60 points (-0.02%), finishing at 2536.60 points. The major winners in the "pop-guns" were -

  • Orbital Corporation (OEC), +$0.008 (8.7%) to $0.100 on volume of 1.58m shares;
  • Worleyparsons (WOR), +$0.660 (7.81%) to $9.110 on volume of 878,000 shares; and
  • Lynas Corporation (LYC), +$0.010 (6.25%) to $0.170 on volume of 495,000 shares; and
  • Globe International (GLB), +$0.020 (6.15%) to $0.345 on volume of 1.54m shares; and
  • SDI (SDI), +$0.055 (6.04%) to $0.965 on volume of 122,000 shares.

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

  • Genetic Technologies (GTG), -$0.040 (8.79%) to $0.415 on volume of 706,000 shares;
  • Multiemedia (MUL), -$0.002 (8.33%) to $0.022 on volume of 159.26m shares; and
  • Adsteam Marine (ADZ), -$0.160 (7.92%) to $1.860 on volume of 2.81m shares; and
  • Super Cheap Auto Group (SUL), -$0.220 (6.53%) to $3.150 on volume of 329,000 shares; and
  • Salmat (SLM), -$0.310 (6.24%) to $4.660 on volume of 302,000 shares.
Index Changes
XAOAll Ordinaries4403.8-20.4-0.46%842.59m
XTLS&P/ASX 202365.1-9.9-0.42%151.65m
XFLS&P/ASX 504334.1-19.7-0.45%328.74m
XTOS&P/ASX 1003597.2-16.2-0.45%486.82m
XJOS&P/ASX 2004437.2-18.1-0.41%595.35m
XKOS&P/ASX 3004431.1-18.3-0.41%0
XMDS&P/ASX Mid-Cap 504468.9-19.9-0.44%0
XSOS&P/ASX Small Ordinaries2536.6-0.6-0.02%316.3m

All Ordinaries Market Internals

Market Breadth
Advancing Volume50.58m163.5m192.33m219.2736.58359.34
Declining Volume101.06m295.96m339.63m529.11225.9742.03

S&P/ASX200 GICS Sector Indices

The top sector for the day was XEJ Energy which gained 1.90% to 10277.50 points. The sector was helped by

  • Worleyparsons (WOR), +$0.660 (7.81%) to $9.110 on volume of 878,000 shares;
  • Australian Worldwide Exploration (AWE), +$0.090 (3.91%) to $2.390 on volume of 1.93m shares;
  • Caltex Australia (CTX), +$0.440 (2.59%) to $17.400 on volume of 388,000 shares;
  • Santos (STO), +$0.270 (2.49%) to $11.110 on volume of 3.27m shares; and
  • Tap Oil (TAP), +$0.070 (2.36%) to $3.030 on volume of 595,000 shares.

Second in the sector leadership stakes was XTJ Telecommunications which gained 0.38% to 1699.00 points. The sector leaders were -

  • Telstra Corporation (TLS), +$0.020 (0.42%) to $4.740 on volume of 28.27m shares; and
  • Telecom Corporation Of New Zealand (TEL), +$0.010 (0.18%) to $5.560 on volume of 1.3m shares.

The bronze today went toXXJ ASX200 Financials ex Property Trusts which gained 0.12% to 5263.70 points. The sector was led by

  • Challenger Financial Services Group (CGF), +$0.090 (2.69%) to $3.440 on volume of 1.31m shares;
  • Bendigo Bank (BEN), +$0.240 (2.25%) to $10.930 on volume of 286,000 shares;
  • St George Bank (SGB), +$0.370 (1.41%) to $26.640 on volume of 797,000 shares;
  • Australian Stock Exchange (ASX), +$0.340 (1.29%) to $26.700 on volume of 354,000 shares; and
  • Oamps (OMP), +$0.030 (1.05%) to $2.880 on volume of 823,000 shares.

The worst-performed sector today was XMJ Materials which lost 1.82% to 7996.30 points. The sector was dragged lower by

  • Gunns (GNS), -$0.190 (5.29%) to $3.400 on volume of 1.89m shares;
  • Rio Tinto (RIO), -$2.270 (4.31%) to $50.450 on volume of 6.21m shares;
  • Lihir Gold (LHG), -$0.055 (3.94%) to $1.340 on volume of 9.82m shares;
  • BHP Billiton (BHP), -$0.660 (3.21%) to $19.900 on volume of 41m shares; and
  • Excel Coal (EXL), -$0.250 (3.09%) to $7.830 on volume of 1.03m shares.

Just in front of last place on the sector table was XNJ Industrials which lost 0.79% to 5303.80 points. The sector was pulled down by

  • Adsteam Marine (ADZ), -$0.160 (7.92%) to $1.860 on volume of 2.81m shares;
  • PMP (PMP), -$0.040 (2.99%) to $1.300 on volume of 1.23m shares;
  • Qantas Airways (QAN), -$0.090 (2.7%) to $3.240 on volume of 15.17m shares;
  • Spotless Group (SPT), -$0.100 (1.92%) to $5.100 on volume of 973,000 shares; and
  • Coates Hire (COA), -$0.090 (1.84%) to $4.810 on volume of 892,000 shares.
Sector Indices
CodeGICS SectorClose+/-%Volume
XXJASX200 Financials ex Property Trusts5263.76.40.12%103.83m
XPJProperty Trusts1841.1-2.9-0.16%84.52m
XSJConsumer Staples5756.6-30-0.52%40.6m
XDJConsumer Discretionary2320.1-12.9-0.55%54.91m
XIJInformation Technology438.3-2.5-0.57%7.86m

All Ordinaries Major Movers

All Ords Volume Leaders
BHPBHP Billiton19.9-0.66-3.21%41m
PMNPromina Group4.87-0.18-3.56%34.93m
TLSTelstra Corporation4.740.020.42%28.27m
DYLDeep Yellow0.11-0.01-8.33%27.97m
IAGInsurance Australia Group5.580.020.36%18.28m
PBGPacific Brands2.80.041.45%17.68m
All Ords Percentage Gainers
UNWUnwired Group0.610.0712.96%8.57m
OECOrbital Corporation0.10.0088.7%1.58m
GAPGale Pacific1.610.117.33%65867
LYCLynas Corporation0.170.016.25%495091
All Ords Percentage Decliners
GTGGenetic Technologies0.42-0.04-8.79%705629
ADZAdsteam Marine1.86-0.16-7.92%2.81m
SULSuper Cheap Auto Group3.15-0.22-6.53%328827

Elsewhere in the Region...

Regional Indices
New ZealandNZSE503365.538-10.72-0.32%25.78m
JapanNikkei 22512405.16-97.1-0.78%0
SingaporeStraits Times2286.568.210.36%0
Hong KongHang Seng14933.5659.710.4%153.46m
MalaysiaKLSE Comp919.27-6.81-0.74%0