Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.
Note: from now on, you will find the day's rant is published first at the 'PRO' site (Note - I've fixed the link... it was spelt wrong.) It will still be non-subscription viewing, but I'm going to start publishing it there first, then putting it up here about a half-hour later.
that's just in case you were wondering why the blog posts are getting a bit later.
The universe is a vast, cold, inhospitable arse of a place; in the standard cosmological model it is a simple dynamic system with no no pity, compassion or morality. On the upside, it has no eans of forming malevolent intent, either - which means that if it dicks you around, it's not doing it on purpose.
And yet, things sometimes 'gel' in such a profoundly timely and systematic way that you can almost hear the gears clicking. Unutterably fruity things begin to happen, and the smiles keep on coming.
And it always comes from the most unexpected corner - a chance remark to the lady in the bakery, a left turn when your initial itinerary called for a right... that sort of thing.
Maybe - just maybe - Schopenhauer was wrong.
Obviously the universe hasn't suddenly become beer & skittles - for a start, the Bush/Howard/Blair Nexus of Evil haven't all had strokes and been rendered vegetative. The NeoTrots haven't all been indicted for espionage on behalf of Israel. Alexander Downer has not been discovered enjoying the bizarre delights of a Lady-Man, and the dirt that Mossad has on Philip Ruddock has not been made public. For the fruition of these and many other things, we must live in hope. As a special concession to Christmas I will refrain from wishing any specific ill to befall them (although any large-scale combination of random ills would still be welcome).
Major Market Indices
The broad market - the ASX All Ordinaries (XAO) - rose by 9.90 points (0.22%), finishing at 4600.80 points (4600-ish). After bursting from the blocks in typical Monday fashion, the index got into the high 461x's (the 'four-sixteens' - 4610,11,12,13 etc) within the first half hour. Form there it went sideways until 3 p.m., registering its intraday high of 4621.70 (4525-ish) just before midday. Then out of bed it fell - although never far enough to seriously challenge its opening low at 4590.9.
Total volume traded on the ASX was 911 million units, 14.3% below its 10-day average (te average is still biased upwards because of last Thursday). Of the 490 stocks in the index, 157 fell while 121 managed a gain. Volume was tilted in favour of the gainers by a margin of 1.3:1, with 185.89million shares traded in gainers while 142.49million 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 11.40 points (0.25%), finishing at 4655.40 points. After the cash session close, the SPI dropped all the way to 4637 but has bounced sice then.
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - rose by 14.30 points (0.58%), finishing at 2499.00 points. Within the index members, there were 15 that rose, and 5 losers. Total volume in rising issues within the ASX20 amounted to 57.52 while volume in the losers totalled 22.27m units.
The major winners in the "big guns" were -
- Rio Tinto (RIO), +$1.180 (1.88%) to $63.810 on volume of 3.1m shares;
- Australia And New Zealand Banking Group (ANZ), +$0.340 (1.46%) to $23.600 on volume of 5.69m shares;
- Westpac Banking Corporation (WBC), +$0.300 (1.34%) to $22.700 on volume of 12.44m shares;
- St George Bank (SGB), +$0.370 (1.27%) to $29.520 on volume of 2.76m shares; and
- BHP Billiton (BHP), +$0.270 (1.25%) to $21.870 on volume of 11.99m shares.
The following stocks made up the biggest percentage losers in the big-guns:
- Rinker Group (RIN), -$0.200 (1.22%) to $16.140 on volume of 1.32m shares;
- Telstra Corporation (TLS), -$0.02 (0.52%) to $3.82 on volume of 14.13m shares - and still easily the best-value large cap in our market;
- Woolworths (WOW), -$0.04 (0.24%) to $16.65 on volume of 2.98m shares;
- Foster's Group (FGL), -$0.01 (0.18%) to $5.58 on volume of 3.11m shares;
- Wesfarmers (WES), -$0.04 (0.11%) to $36.21 on volume of 727,000 shares.
At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index (XSO) fell by 17.20 points (-0.67%), finishing at 2565.90 points. The major winners in the "pop-guns" were -
- Multiemedia (MUL), +$0.001 (9.09%) to $0.012 on volume of 2.54m shares;
- Norwood Abbey (NAL), +$0.035 (7.87%) to $0.480 on volume of 109,000 shares; and
- Volante Group (VGL), +$0.050 (5.88%) to $0.900 on volume of 2.83m shares; and
- Psivida (PSD), +$0.040 (5.8%) to $0.730 on volume of 520,000 shares; and
- Kagara Zinc (KZL), +$0.100 (5.26%) to $2.000 on volume of 518,000 shares.
The losingest-little-guys for the session were (in order of decline):
- Sydney Gas Ltd (SGL), -$0.035 (12.5%) to $0.245 on volume of 2.8m shares;
- Multiplex Group (MXG), -$0.290 (8.41%) to $3.160 on volume of 24.22m shares; and
- ERG (ERG), -$0.010 (7.41%) to $0.125 on volume of 1.9m shares; and
- AAV (AVV), -$0.060 (6.45%) to $0.870 on volume of 131,000 shares; and
- Nufarm (NUF), -$0.640 (5.36%) to $11.300 on volume of 191,000 shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 4600.8 | 9.9 | 0.22% | 368.64m |
| XTL | S&P/ASX 20 | 2499 | 14.3 | 0.58% | 0 |
| XFL | S&P/ASX 50 | 4562.5 | 19.8 | 0.44% | 146.73m |
| XTO | S&P/ASX 100 | 3786.1 | 12.6 | 0.33% | 268.94m |
| XJO | S&P/ASX 200 | 4655.4 | 11.4 | 0.25% | 290.13m |
| XKO | S&P/ASX 300 | 4646.8 | 11.1 | 0.24% | 0 |
| XMD | S&P/ASX Mid-Cap 50 | 4702.6 | -13.5 | -0.29% | 0 |
| XSO | S&P/ASX Small Ordinaries | 2565.9 | -17.2 | -0.67% | 113.16m |
All Ordinaries Market Internals
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 15 | 49 | 74 | 121 | 52 | 428 |
| Declines | 5 | 35 | 92 | 157 | 102 | 525 |
| Advancing Volume | 57.52m | 140.32m | 156.31m | 185.89 | 28.4 | 357.18 |
| Declining Volume | 22.27m | 101.11m | 101.39m | 142.49 | 77.05 | 295.53 |
S&P/ASX200 GICS Sector Indices
The top sector for the day was XUJ Utilities which gained 1.39% to 5624.70 points. The sector was helped by
- Alinta (ALN), +$0.450 (4.2%) to $11.160 on volume of 1.09m shares;
- Australian Gas Light Company (AGL), +$0.170 (1.01%) to $16.920 on volume of 1.06m shares;
- Energy Developments (ENE), +$0.040 (0.97%) to $4.150 on volume of 187,000 shares;
- Diversified Utility And Energy Trusts (DUE), +$0.020 (0.8%) to $2.530 on volume of 767,000 shares; and
- Pacific Hydro (PHY), -$0.000 (0%) to $5.000 on volume of 0,000 shares.
Second in the sector leadership stakes was XMJ Materials which gained 0.59% to 8796.60 points. The sector leaders were -
- Wattyl (WYL), +$0.140 (5.07%) to $2.900 on volume of 681,000 shares;
- Croesus Mining (CRS), +$0.010 (3.57%) to $0.290 on volume of 867,000 shares;
- Oxiana (OXR), +$0.040 (2.69%) to $1.525 on volume of 11.41m shares;
- Rio Tinto (RIO), +$1.180 (1.88%) to $63.810 on volume of 3.1m shares; and
- Iluka Resources (ILU), +$0.130 (1.68%) to $7.850 on volume of 1.07m shares.
The bronze today went to XXJ ASX200 Financials ex Property Trusts which gained 0.55% to 5669.60 points. The sector was led by
- Lend Lease Corporation (LLC), +$0.220 (1.59%) to $14.090 on volume of 565,000 shares;
- Australian Stock Exchange (ASX), +$0.480 (1.58%) to $30.800 on volume of 194,000 shares;
- Australia And New Zealand Banking Group (ANZ), +$0.340 (1.46%) to $23.600 on volume of 5.69m shares;
- Westpac Banking Corporation (WBC), +$0.300 (1.34%) to $22.700 on volume of 12.44m shares; and
- St George Bank (SGB), +$0.370 (1.27%) to $29.520 on volume of 2.76m shares.
The worst-performed sector today was XIJ Information Technology which lost 0.67% to 429.90 points. The sector was dragged lower by
- ERG (ERG), -$0.010 (7.41%) to $0.125 on volume of 1.9m shares;
- Baycorp Advantage (BCA), -$0.100 (2.99%) to $3.250 on volume of 761,000 shares;
- MYOB (MYO), -$0.030 (2.71%) to $1.075 on volume of 117,000 shares;
- Vision Systems (VSL), -$0.040 (2.41%) to $1.620 on volume of 298,000 shares; and
- IRESS Market Technology (IRE), -$0.110 (2.39%) to $4.500 on volume of 46,000 shares.
Just in front of last place on the sector table was XDJ Consumer Discretionary which lost 0.46% to 2210.20 points. The sector was pulled down by
- Housewares International (HWI), -$0.055 (3.53%) to $1.505 on volume of 307,000 shares;
- Austereo Group (AEO), -$0.050 (3.16%) to $1.530 on volume of 261,000 shares;
- David Jones (DJS), -$0.070 (2.95%) to $2.300 on volume of 1.25m shares;
- G.U.D. Holdings (GUD), -$0.220 (2.93%) to $7.280 on volume of 52,000 shares; and
- Just Group (JST), -$0.050 (2.02%) to $2.420 on volume of 415,000 shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XUJ | Utilities | 5624.7 | 77.2 | 1.39% | 3.73m |
| XMJ | Materials | 8796.6 | 52 | 0.59% | 71.42m |
| XXJ | ASX200 Financials ex Property Trusts | 5669.6 | 30.8 | 0.55% | 48.83m |
| XHJ | Healthcare | 6254.4 | 11 | 0.18% | 10.33m |
| XFJ | Financials | 5529.6 | 21.9 | 0% | 128.55m |
| XPJ | Property Trusts | 1928.3 | -2.4 | -0.12% | 82.06m |
| XSJ | Consumer Staples | 5844.5 | -12.4 | -0.21% | 20.5m |
| XTJ | Telecommunications | 1417.6 | -3.1 | -0.22% | 16.16m |
| XNJ | Industrials | 5310.3 | -13.3 | -0.25% | 32.32m |
| XEJ | Energy | 10780.6 | -28.3 | -0.26% | 13.94m |
| XDJ | Consumer Discretionary | 2210.2 | -10.3 | -0.46% | 17.6m |
| XIJ | Information Technology | 429.9 | -2.9 | -0.67% | 4.29m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| GFF | Goodman Fielder | 2.04 | -0.02 | -0.97% | 160.16m |
| MXG | Multiplex Group | 3.16 | -0.29 | -8.41% | 24.22m |
| AUN | Austar United Communications | 1.15 | -0.01 | -0.43% | 14.81m |
| TLS | Telstra Corporation | 3.82 | -0.02 | -0.52% | 14.13m |
| LHG | Lihir Gold | 2.11 | 0.02 | 0.96% | 13.52m |
| WBC | Westpac Banking Corporation | 22.7 | 0.3 | 1.34% | 12.44m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| DOM | Dominion Mining | 0.89 | 0.11 | 14.1% | 755039 |
| TRY | Troy Resources | 3.3 | 0.27 | 8.91% | 29910 |
| NAL | Norwood Abbey | 0.48 | 0.04 | 7.87% | 109000 |
| VGL | Volante Group | 0.9 | 0.05 | 5.88% | 2.83m |
| PSD | Psivida | 0.73 | 0.04 | 5.8% | 520477 |
All Ords Percentage Decliners
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| CEQ | Central Equity | 1.9 | -0.31 | -14.03% | 244579 |
| SGL | Sydney Gas Ltd | 0.25 | -0.04 | -12.5% | 2.8m |
| ERG | ERG | 0.13 | -0.01 | -7.41% | 1.9m |
| TIR | Titan Resources | 0.052 | -0.004 | -7.14% | 1000000 |
| AVV | AAV | 0.87 | -0.06 | -6.45% | 131300 |
Elsewhere in the Region...
Regional Indices
| Country | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| New Zealand | NZSE50 | 3317.04 | 35.14 | 1.07% | 19.42m |
| Japan | Nikkei 225 | 15299.47 | 126.4 | 0.83% | 0 |
| Korea | KOSPI | 1337.63 | 16.59 | 1.26% | 481730 |
| Singapore | Straits Times | 2332.31 | 6.78 | 0.29% | 0 |
| Hong Kong | Hang Seng | 15153.59 | 123.78 | 0.82% | 145.56m |
| Malaysia | KLSE Comp | 895.38 | 2.01 | 0.22% | 0 |
