Interdum stultus opportuna loquitur...

Wednesday, December 14, 2005

OzRant: The Boat Is Listing a'Larb'd...

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

There are times when modernity has a jarring effect on a young Zoidberg; the notion that everybody is supposed to be best chums with their former paramours - even when the party of the second part engaged in a huge betrayal - is one aspect of the current acceptable behaviour with which I can have no truck. 

I was going to write a long moan about how I am disgusted by the fact that infidelity no longer attracts the censure it once did, but I've decided not to. 

What's that? You insist? Very well then...

Suffice it to say that I think that anybody who wants to teach kiddies should be vetted for a stable personal life: anyone who has blotted their escutcheon by having a clandestine weekend screwing a middle-aged tradesman - who of course is 'just a friend' - should be immediately barred from inculcating values into the under-10s. (And no, I do not think that values like that are capable of rehabilitation).

In case you think it's just bearing a grudge about the aforementioned tradesman, think again: I am not the victim of a scarred heart or any such teenage falderol. I just have a strong desire to keep my life free from people who exhibit that sort of proclivity. 

Infidelity is fine if one's arrangements are for convenience or dynastic alliance, but when the party of the first part has standard expectations, it behoves other parties to declare that all is irretrievably broken down before actions such as the aforementioned sordid tryst. If nothing else, it protects the non-tradesman-screwing party of the first part from any sexually-transmitted unpleasantness which might eventuate.

OK... moving right along. (In case you were wondering, the foregoing has nothing to do with The Lovely Sarah - who shares my view entirely: we are talking old, old history here).

Now where was I? Oh yes...

Major Market Indices

The broad market - the ASX All Ordinaries (XAO) - rose by 28.60 points (0.63%), finishing at 4567.30 points. The index hit an intraday high of 4571.90 (4575-ish) just before 2:30 p.m., after opening at its low (4538.7).

Total volume traded on the ASX was 881 million units, 10.3% below its 10-day average. Of the 490 stocks in the All Ords index, 167 rose while 102 fell. Volume was tilted in favour of the gainers by a margin of 2.6:1, with 298.35million shares traded in gainers while 113.73million 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 30.80 points (0.67%), finishing at 4617.90 points.

The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - rose by 17.80 points (0.72%), finishing at 2473.40 points. Within the index members, there were 15 that rose, and 5 losers. Total volume in rising issues within the ASX20 amounted to 94.11m shares while volume in the losers totalled 13.51m units.

The major winners in the "big guns" were -

  • Westfield Group (WDC), +$0.410 (2.4%) to $17.510 on volume of 7.16m shares;
  • AMP Limited (AMP), +$0.130 (1.73%) to $7.630 on volume of 4.8m shares;
  • National Australia Bank (NAB), +$0.460 (1.47%) to $31.800 on volume of 2.75m shares;
  • Woodside Petroleum (WPL), +$0.530 (1.46%) to $36.830 on volume of 1.54m shares; and
  • Macquarie Bank (MBL), +$0.950 (1.44%) to $67.000 on volume of 975,000 shares.

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

  • Coles Myer Ltd (CML), -$0.100 (0.99%) to $9.970 on volume of 2.97m shares;
  • Foster's Group (FGL), -$0.02 (0.36%) to $5.59 on volume of 5.54m shares;
  • Rio Tinto (RIO), -$0.20 (0.32%) to $63.15 on volume of 1.59m shares;
  • Woolworths (WOW), -$0.05 (0.3%) to $16.70 on volume of 2.11m shares;
  • Wesfarmers (WES), -$0.05 (0.14%) to $35.60 on volume of 1.3m shares.

At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index (XSO) rose by 7.50 points (0.29%), finishing at 2572.20 points. The major winners in the "pop-guns" were -

  • Volante Group (VGL), +$0.100 (13.33%) to $0.850 on volume of 3.84m shares;
  • Miller's Retail (MRL), +$0.055 (4.95%) to $1.165 on volume of 1.48m shares; and
  • Cellestis (CST), +$0.150 (4.67%) to $3.360 on volume of 200,000 shares; and
  • Skilled Group (SKE), +$0.120 (3.75%) to $3.320 on volume of 152,000 shares; and
  • Psivida (PSD), +$0.020 (3.33%) to $0.620 on volume of 375,000 shares.

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

  • Emperor Mines (EMP), -$0.055 (12.64%) to $0.380 on volume of 443,000 shares;
  • Sydney Gas Ltd (SGL), -$0.030 (9.38%) to $0.290 on volume of 3.94m shares; and
  • Virotec International (VTI), -$0.035 (5.34%) to $0.620 on volume of 216,000 shares; and
  • Village Life Ltd (VLL), -$0.015 (5%) to $0.285 on volume of 111,000 shares; and
  • Salmat (SLM), -$0.160 (4.62%) to $3.300 on volume of 459,000 shares.
Index Changes
XAOAll Ordinaries4567.328.60.63%491.24m
XTLS&P/ASX 202473.417.80.72%0
XFLS&P/ASX 504518.430.30.68%206.96m
XTOS&P/ASX 1003752.126.30.71%329.72m
XJOS&P/ASX 2004617.930.80.67%430.86m
XKOS&P/ASX 300461030.60.67%0
XMDS&P/ASX Mid-Cap 504679.940.60.88%0
XSOS&P/ASX Small Ordinaries2572.27.50.29%139.71m

All Ordinaries Market Internals

Market Breadth
Advancing Volume94.11m227.01m269.27m298.35m63.34m459.77m
Declining Volume13.51m70.01m109.07m113.73m34.31m267.96m

S&P/ASX200 GICS Sector Indices

The top sector for the day was XPJ Property Trusts which gained 1.75% to 1911.40 points. The sector was helped by

  • Investa Property Group (IPG), +$0.055 (2.77%) to $2.040 on volume of 3.06m shares;
  • Centro Properties Group (CNP), +$0.170 (2.7%) to $6.460 on volume of 1.65m shares;
  • Westfield Group (WDC), +$0.410 (2.4%) to $17.510 on volume of 7.16m shares;
  • Mirvac Group (MGR), +$0.090 (2.22%) to $4.150 on volume of 3.11m shares; and
  • DB Rreef Trust (DRT), +$0.030 (2.19%) to $1.400 on volume of 7.36m shares.

Second in the sector leadership stakes was XEJ Energy which gained 1.23% to 10704.50 points. RantPRO subscribers will get an e-mail later about exploitable short-term opportunities in the Energy sector - from Crude futures all the way down to shortable stocks in XEJ and covered call writing over optionable XEJ components. For today, the sector leaders were -

  • Caltex Australia (CTX), +$1.100 (5.7%) to $20.400 on volume of 676,000 shares;
  • Tap Oil (TAP), +$0.080 (2.95%) to $2.790 on volume of 1.46m shares;
  • Hardman Resources (HDR), +$0.030 (1.69%) to $1.800 on volume of 6.13m shares;
  • Woodside Petroleum (WPL), +$0.530 (1.46%) to $36.830 on volume of 1.54m shares; and
  • Roc Oil Company (ROC), +$0.030 (1.15%) to $2.640 on volume of 872,000 shares.

The bronze today went to XXJ ASX200 Financials ex Property Trusts which gained 0.92% to 5602.50 points. The sector was led by

  • Australian Stock Exchange (ASX), +$0.740 (2.48%) to $30.580 on volume of 1.29m shares;
  • Lend Lease Corporation (LLC), +$0.270 (1.96%) to $14.050 on volume of 571,000 shares;
  • Perpetual Trustees Australia (PPT), +$1.250 (1.95%) to $65.300 on volume of 52,000 shares;
  • Challenger Financial Services Group (CGF), +$0.070 (1.83%) to $3.890 on volume of 1.58m shares; and
  • AMP Limited (AMP), +$0.130 (1.73%) to $7.630 on volume of 4.8m shares.

The worst-performed sector today was XSJ Consumer Staples which lost 0.38% to 5842.30 points. The sector was dragged lower by

  • Coca-Cola Amatil (CCL), -$0.090 (1.21%) to $7.320 on volume of 1.96m shares;
  • Ridley Corporation (RIC), -$0.005 (0.39%) to $1.280 on volume of 444,000 shares;
  • Woolworths (WOW), -$0.050 (0.3%) to $16.700 on volume of 2.11m shares;
  • Metcash Trading (MTT), -$0.000 (0%) to $3.270 on volume of 0,000 shares;

Just in front of last place on the sector table was XIJ Information Technology which lost 0.23% to 434.20 points. It was dragged down by just two index components - becasue those two components dominate the sector: 

  • Vision Systems (VSL), -$0.010 (0.61%) to $1.620 on volume of 163,000 shares; and 
  • Computershare (CPU), -$0.040 (0.6%) to $6.660 on volume of 1.08m shares.
Sector Indices
CodeGICS SectorClose+/-%Volume
XPJProperty Trusts1911.432.81.75%81.69m
XXJASX200 Financials ex Property Trusts5602.551.20.92%43.99m
XDJConsumer Discretionary2217.1-1.1-0.05%34.4m
XIJInformation Technology434.2-1-0.23%2.44m
XSJConsumer Staples5842.3-22.3-0.38%32.21m

All Ordinaries Major Movers

All Ords Volume Leaders
SPNSP AUSNET1.300%55.72m
TLSTelstra Corporation3.790.030.8%37.1m
LHGLihir Gold2.1100%16.12m
QANQantas Airways3.870.123.2%15.8m
SENSenetas Corporation0.750.079.49%14.28m
BHPBHP Billiton21.720.070.32%13.34m
All Ords Percentage Gainers
VGLVolante Group0.113.33%3.84m
SEDSedimentary Holdings0.028.7%4.84m
CTXCaltex Australia1.15.7%675546
All Ords Percentage Decliners
EMPEmperor Mines0.38-0.06-12.64%443370
SGLSydney Gas Ltd0.29-0.03-9.38%3.94m
VTIVirotec International0.62-0.04-5.34%215996
BTABiota Holdings1.41-0.07-4.73%3.27m

Elsewhere in the Region...

Regional Indices
New ZealandNZSE503207.9511.230.35%45.49m
JapanNikkei 22515526.74-252.12-1.6%0
SingaporeStraits Times2330.786.810.29%0
Hong KongHang Seng14912.17-30.45-0.2%131.69m
MalaysiaKLSE Comp900.21.930.21%0