Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.
I still haven't quite got the infrastructure in place to accommodate temporary logins to the Pro site for the 'Open Day' that I had planned to have this evening; the last bits ought to be done sometime later this evening, at which time I will put up a post about them. First things first though... there are three people who are still waiting on passwords, and now that the (expensive) fix has been done, they will be looked after first.
The broad market - the ASX All Ordinaries (XAO) - rose by 9.90 points (0.22%), finishing at 4570.10 points. The index opened at its low (4559.1) and rose vertically to over 4580 before the clock had struck 10:30 a.m. Sydney time. The index didn't formally register its session high (4584.90) until an hour later - well after the usual 10:30 a.m. SPI short appointment. That said, a SPI short taken at 10:30 a.m. (at 4647 points) only had to endure 5 points' worth of 'underwaterness' before a nice 24-point decline (from 4652 to 4628). Furthermore, as the SPISpy e-mail pointed out, there was nothing technical that justified a 10:30 short entry - but a CCI divergence developed precisely at 11:30 (but the entry price was the same as a 10:30 timed entry anyhow - it's just that instead of buying as the SPI was still rising, an 11:30 entry was buying as it came back down, and was never underwater by more than 2 points.
Total volume traded on the ASX was a feeble 795 million units, 19.5% below its 10-day average. Of the 487 stocks in the index, 161 rose while 115 fell. Volume was tilted in favour of the gainers by a margin of 1.8:1, with 263.52million shares traded in gainers while 143.76million shares traded in the day's losers. And unlike yesterday, the advance (though feeble) was centred on the Mid-caps rather than the big guns, with XMD (the mid-cap 50) rising by almost 3/4 of a percent.
The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 (XJO) - rose by 8.00 points (0.17%), finishing at 4629.10 points.
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - fell by 1.90 points (-0.08%), finishing at 2499.50 points. Within the index members, there were 11 that rose, and 9 losers. Total volume in rising issues within the ASX20 amounted to 36.11 while volume in the losers totalled 88.72m units.
The major winners in the "big guns" were -
- Foster's Group (FGL), +$0.160 (2.75%) to $5.980 on volume of 7.14m shares;
- Woodside Petroleum (WPL), +$0.790 (2.47%) to $32.770 on volume of 1.82m shares;
- Macquarie Bank (MBL), +$0.550 (0.79%) to $70.500 on volume of 543,000 shares;
- Australia And New Zealand Banking Group (ANZ), +$0.150 (0.63%) to $24.050 on volume of 7.43m shares; and
- Wesfarmers (WES), +$0.230 (0.61%) to $37.630 on volume of 700,000 shares.
The following stocks made up the biggest percentage losers in the big-guns:
- Westpac Banking Corporation (WBC), -$0.650 (2.84%) to $22.230 on volume of 23.07m shares;
- QBE Insurance Group (QBE), -$0.14 (0.72%) to $19.18 on volume of 2.22m shares;
- Commonwealth Bank Of Australia (CBA), -$0.28 (0.67%) to $41.70 on volume of 2.24m shares;
- Woolworths (WOW), -$0.05 (0.29%) to $17.34 on volume of 1.96m shares;
- Telstra Corporation (TLS), -$0.01 (0.25%) to $4.01 on volume of 42.48m 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 10.20 points (0.40%), finishing at 2569.20 points. The major winners in the "pop-guns" were -
- Emperor Mines (EMP), +$0.070 (21.54%) to $0.395 on volume of 405,000 shares;
- Antares Energy (AZZ), +$0.090 (20.69%) to $0.525 on volume of 898,000 shares; and
- Schaffer Corporation (SFC), +$0.500 (10.42%) to $5.300 on volume of 95,000 shares; and
- Macarthur Coal (MCC), +$0.490 (9.25%) to $5.790 on volume of 1.18m shares; and
- Resolute Mining (RSG), +$0.090 (9.09%) to $1.080 on volume of 646,000 shares.
The losingest-little-guys for the session were (in order of decline):
- Multiemedia (MUL), -$0.001 (7.14%) to $0.013 on volume of 2.95m shares;
- Arc Energy (ARQ), -$0.065 (3.57%) to $1.755 on volume of 432,000 shares; and
- Genetic Technologies (GTG), -$0.020 (3.48%) to $0.555 on volume of 399,000 shares; and
- Sunland Group (SDG), -$0.045 (3.05%) to $1.430 on volume of 369,000 shares; and
- Spotless Group (SPT), -$0.150 (3.02%) to $4.820 on volume of 286,000 shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 4570.1 | 9.9 | 0.22% | 484.49m |
| XTL | S&P/ASX 20 | 2499.5 | -1.9 | -0.08% | 0 |
| XFL | S&P/ASX 50 | 4543.6 | 3.3 | 0.07% | 201.97m |
| XTO | S&P/ASX 100 | 3761.9 | 6.2 | 0.17% | 330.51m |
| XJO | S&P/ASX 200 | 4629.1 | 8 | 0.17% | 403.69m |
| XKO | S&P/ASX 300 | 4620.4 | 8.6 | 0.19% | 0 |
| XMD | S&P/ASX Mid-Cap 50 | 4609.1 | 33.3 | 0.73% | 0 |
| XSO | S&P/ASX Small Ordinaries | 2569.2 | 10.2 | 0.4% | 115.67m |
All Ordinaries Market Internals
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 11 | 59 | 102 | 161 | 85 | 500 |
| Declines | 9 | 26 | 63 | 115 | 65 | 400 |
| Advancing Volume | 36.11m | 182.39m | 221.38m | 263.52 | 65.86 | 445.92 |
| Declining Volume | 88.72m | 109.04m | 126.76m | 143.76 | 31.25 | 238.86 |
S&P/ASX200 GICS Sector Indices
The top sector for the day was XUJ Utilities which gained 1.70% to 5360.00 points. The sector was helped by
- Australian Gas Light Company (AGL), +$0.470 (3.1%) to $15.630 on volume of 1.06m shares;
- Australian Pipeline Trust (APA), +$0.010 (0.27%) to $3.680 on volume of 69,000 shares;
- Alinta (ALN), -$0.000 (0%) to $11.000 on volume of 244,000 shares; and
- Envestra (ENV), -$0.000 (0%) to $1.170 on volume of 323,000 shares.
Second in the sector leadership stakes was XEJ Energy which gained 1.69% to 9969.60 points; everybody is desperately keen for oil to continue to bounce. The sector leaders were -
- Hardman Resources (HDR), +$0.060 (3.51%) to $1.770 on volume of 12.31m shares;
- Oil Search (OSH), +$0.080 (2.52%) to $3.250 on volume of 5.06m shares;
- Woodside Petroleum (WPL), +$0.790 (2.47%) to $32.770 on volume of 1.82m shares;
- Tap Oil (TAP), +$0.060 (2.46%) to $2.500 on volume of 775,000 shares; and
- Caltex Australia (CTX), +$0.380 (1.87%) to $20.700 on volume of 637,000 shares.
The bronze today went to XIJ Information Technology which gained 0.65% to 446.30 points. The sector was led by
- ERG (ERG), +$0.005 (3.57%) to $0.145 on volume of 5.62m shares;
- Computershare (CPU), +$0.100 (1.47%) to $6.900 on volume of 968,000 shares;
- Infomedia Ltd (IFM), +$0.005 (0.94%) to $0.535 on volume of 281,000 shares;
- MYOB (MYO), +$0.010 (0.88%) to $1.150 on volume of 99,000 shares; and
- IRESS Market Technology (IRE), -$0.010 (0.22%) to $4.440 on volume of 39,000 shares.
The worst-performed sector today was XTJ Telecommunications which lost 0.40% to 1483.60 points. Both of the sector's components dropped, but Telecom New Zealand was hurt a lot worse than Telstra , the latter losing just a penny for the session.
- Telecom Corporation Of New Zealand (TEL), -$0.060 (1.05%) to $5.650 on volume of 2.06m shares; and
- Telstra Corporation (TLS), -$0.010 (0.25%) to $4.010 on volume of 42.48m shares.
Just in front of last place on the sector table was XXJ ASX200 Financials ex Property Trusts (which is like saying 'Banks and Insurance'), which lost 0.25% to 5739.40 points. The sector was pulled down by
- Westpac Banking Corporation (WBC), -$0.650 (2.84%) to $22.230 on volume of 23.07m shares;
- QBE Insurance Group (QBE), -$0.140 (0.72%) to $19.180 on volume of 2.22m shares;
- Commonwealth Bank Of Australia (CBA), -$0.280 (0.67%) to $41.700 on volume of 2.24m shares;
- Axa Asia Pacific Holdings (AXA), -$0.020 (0.41%) to $4.870 on volume of 629,000 shares; and
- Bendigo Bank (BEN), -$0.040 (0.34%) to $11.800 on volume of 118,000 shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XUJ | Utilities | 5360 | 89.7 | 1.7% | 3.33m |
| XEJ | Energy | 9969.6 | 165.8 | 1.69% | 27.13m |
| XIJ | Information Technology | 446.3 | 2.9 | 0.65% | 8.86m |
| XSJ | Consumer Staples | 6023.7 | 36.1 | 0.6% | 21.22m |
| XMJ | Materials | 8570.4 | 33.6 | 0.39% | 98.26m |
| XDJ | Consumer Discretionary | 2237.8 | 7.8 | 0.35% | 21.21m |
| XHJ | Healthcare | 6117.1 | 18.9 | 0.31% | 8.38m |
| XPJ | Property Trusts | 1865.6 | 3 | 0.16% | 66.37m |
| XNJ | Industrials | 5268.8 | 4.3 | 0.08% | 34.72m |
| XFJ | Financials | 5543 | -8.9 | -0.16% | 134.28m |
| XXJ | ASX200 Financials ex Property Trusts | 5739.4 | -14.2 | -0.25% | 69.97m |
| XTJ | Telecommunications | 1483.6 | -6 | -0.4% | 44.54m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| TLS | Telstra Corporation | 4.01 | -0.01 | -0.25% | 42.48m |
| WBC | Westpac Banking Corporation | 22.23 | -0.65 | -2.84% | 23.07m |
| LHG | Lihir Gold | 2.15 | 0.15 | 7.5% | 21.8m |
| CPA | Commonwealth Property Office Fund | 1.23 | 0.02 | 1.65% | 17.93m |
| HDR | Hardman Resources | 1.77 | 0.06 | 3.51% | 12.31m |
| DRT | DB Rreef Trust | 1.37 | 0.01 | 0.74% | 11.25m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| EMP | Emperor Mines | 0.4 | 0.07 | 21.54% | 404520 |
| AZZ | Antares Energy | 0.53 | 0.09 | 20.69% | 897756 |
| SFC | Schaffer Corporation | 5.3 | 0.5 | 10.42% | 95338 |
| ALK | Alkane Exploration | 0.17 | 0.02 | 9.68% | 366608 |
| MCC | Macarthur Coal | 5.79 | 0.49 | 9.25% | 1.18m |
All Ords Percentage Decliners
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| IAS | International All Sports | 0.3 | -0.05 | -14.49% | 587994 |
| PEP | Peplin | 0.64 | -0.06 | -8.57% | 520740 |
| SMC | Strategic Minerals Corporation | 0.18 | -0.02 | -7.89% | 425808 |
| GDM | Goldstream Mining | 0.34 | -0.02 | -4.29% | 203868 |
| ARQ | Arc Energy | 1.76 | -0.07 | -3.57% | 431764 |
Elsewhere in the Region...
Regional Indices
| Country | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| New Zealand | NZSE50 | 3324.618 | -10.14 | -0.3% | 16.75m |
| Japan | Nikkei 225 | 14442.91 | 272.04 | 1.92% | 0 |
| Korea | KOSPI | 1269.35 | 2.19 | 0.17% | 481937 |
| Singapore | Straits Times | 2248.18 | -6.28 | -0.28% | 0 |
| Hong Kong | Hang Seng | 14649.5 | -1.04 | -0.01% | 117.85m |
| Malaysia | KLSE Comp | 893.71 | -3.09 | -0.34% | 0 |
