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Those of you who are still addicted to the MainSwamp (where people as subhuman as Dick Cheney and John Howard are still taken seriously) will have had your poor ears awash with soothing pablum about how the professional parasite class (politicians and their hangers-on) are going to sort out financial markets. Well, let me tell you - if the political class had a sale-able skill between the lot of them, they would be out there earning a decent quid instead of duping some of the people, every few years.
They hit upon terror as a means of social control waaaay back - when the Romans declared a few renegade political Judeans to be 'lestai' (brigands); far better to simply paint your political opponents as fanatics, than to give them a real shot at trying to take your trough away from you. And so it continues to the present day: the last thing the political class will ever admit is that their actions have resulted in a seething mass of downtrodden brown folks who are what you might call 'disaffected' as a result of being repeatedly raped by the Western political establishment and their cronies.
You might be amazed that I think that - you might think that I'm a "Law of the Jungle" kind of capitalist. You're right - I am like that. But the political class diverts resources away from the jungle, through a mechanism that has nothing to do with the jungle and everything to do with livestock management.
And it's we poor schmucks who are the livestock. Ordinary folks are the ones who fund expansionism by 'their' government... but the profits that accrue as a result of expansionism always and everywhere accrue to the cronies of the political class. Some dumb sap sends his kid to be turned into a psychopath who is then let loose on the civilian population of Brownland. That same dumb sap pays his taxes, and lives on the promise that he government to whom he pays his taxes will honour their promises (specifically regarding retirement income guarantees made by all governments, but also by employers). His son becomes damaged goods, and may well come home with physical damage as well (if he comes home at all). No 'country' is made richer 0 but you can bet your life that the people on Dick Cheneys Rolodex are making out like bandits (lestai).
Major Market Indices
The broad market - the All Ordinaries (XAO) - advanced modestly, rising 47.6 points (0.73%), finishing at 6570.9 points. The index hit an intraday high of 6576.6 (6575-ish) at 3:44 pm, while the low for the day was 6503.8 (6500-ish) - set about 5 minutes after the open.
Total volume traded on the ASX was 1.63 billion units, still slightly below the exchange's 10-day average. The ASX's daily listing of all stocks included 1481 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 557 issues rose, with volume in rising issues totalling 832 million units. Conversely (or even contrariwise), 610 stocks were dragged below the water, with aggregate volume traded of 596.7 million shares.
Of the 487 All Ordinaries components, 228 rose while 184 fell. Volume was tilted in favour of the gainers by a margin of 1.5:1, with 413.28 million shares traded in gainers while 267.42 million 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) - posted a modest rise of 59.9 points (0.93%), closing out the session at 6515.2 points.
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - advanced by under a percent, adding 34.8 points (0.98%), closing out the session at 3592.4 points.
Among the 20 big guns, 15 index components finished to the upside, and of the rest, 3 closed lower for the session. The 21 stocks which make up the index traded a total of 166.08 million units; 15 index components rose, with rising volume amounting to 121.92 million shares, while the 3 decliners had volume traded totalling 22.47 million units. The major percentage gainers within the index were
- Australia And New Zealand Banking Group Limited (ANZ), +$1.05 (3.83%) to $28.45 on volume of 9.5 million shares;
- Brambles Limited (BXB), +$0.42 (3.56%) to $12.22 on volume of 8.1 million shares;
- AMP Limited (AMP), +$0.27 (2.75%) to $10.10 on volume of 5.7 million shares;
- Foster's Group Limited (FGL), +$0.13 (2.1%) to $6.33 on volume of 4.2 million shares; and
- Commonwealth Bank Of Australia (CBA), +$1.12 (1.89%) to $60.45 on volume of 2.4 million shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- Rio Tinto Limited (RIO), -$1 (0.72%) to $138.72 on volume of 4.8 million shares;
- BHP Billiton Limited (BHP), -$0.04 (0.1%) to $41.66 on volume of 16.5 million shares; and
- Woolworths Limited (WOW), -$0.02 (0.06%) to $32.30 on volume of 1.1 million shares.
At the other end of the market-cap spectrum lie the denizens of the ASX Small Ordinaries (XSO) - the place where non-mania excess returns lie. The small end of the market significantly underperformed its large-cap counterpart. The Small Ords advanced by under a percent, adding 8.7 points (0.22%), closing out the session at 3955.8 points.
Among the stocks that make up the Small Caps index, 95 index components finished to the upside, and of the rest, 82 closed lower for the session.
The 197 stocks which make up the index traded a total of 233.07 million units: volume in the 95 gainers totalling 104.95 million shares, with trade totalling 108.63 million units in the index's 82 declining components. The major percentage gainers within the index were- Bannerman Resources Limited (BMN), +$0.22 (6.38%) to $3.67 on volume of 306.1 thousand shares;
- TAP OIL Limited (TAP), +$0.14 (6.03%) to $2.46 on volume of 1.4 million shares;
- Arc Energy Limited (ARQ), +$0.08 (5.36%) to $1.48 on volume of 855.1 thousand shares;
- IOOF Holdings Limited (IFL), +$0.46 (5.31%) to $9.12 on volume of 123.3 thousand shares; and
- Hills Industries Limited (HIL), +$0.28 (5.17%) to $5.70 on volume of 155.4 thousand shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Reckson New York Property Trust (RNY), -$0.12 (12.64%) to $0.80 on volume of 697.2 thousand shares;
- Resolute Mining Limited (RSG), -$0.23 (10.95%) to $1.87 on volume of 404.8 thousand shares;
- Equigold NL (EQI), -$0.31 (8.64%) to $3.28 on volume of 678.9 thousand shares;
- Super Cheap Auto Group Limited (SUL), -$0.38 (7.79%) to $4.50 on volume of 50.6 thousand shares; and
- Mintails Limited (MLI), -$0.05 (7.25%) to $0.64 on volume of 145.7 thousand shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 6570.9 | 47.6 | 0.73 | 750.5m |
| XTL | ASX 20 | 3592.4 | 34.8 | 0.98 | 166.1m |
| XFL | ASX 50 | 6344.1 | 62.6 | 1 | 273.9m |
| XTO | ASX 100 | 5266.2 | 49.5 | 0.95 | 459.8m |
| XJO | ASX 200 | 6515.2 | 59.9 | 0.93 | 608.7m |
| XKO | ASX 300 | 6532.4 | 56.1 | 0.87 | 691.5m |
| XMD | ASX Mid-Cap 50 | 6563.1 | 44.1 | 0.68 | 185.9m |
| XSO | ASX Small Ordinaries | 3955.8 | 8.7 | 0.22 | 231.8m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 15 | 66 | 120 | 228 | 95 | 557 |
| Declines | 3 | 28 | 63 | 183 | 82 | 610 |
| Advancing Volume | 121.9m | 280.6m | 342.3m | 413.3m | 105m | 832 million |
| Declining Volume | 22.5m | 134.9m | 206.6m | 266.3m | 108.6m | 596.7 million |
GICS Industry Indices
Among the 11 industry indices, things were relatively upbeat: every sector bar one managed to keep its head above water.
The best performing index was Industrials (XNJ), which added 109.4 points (1.61%) to 6924.3 points. The 32 stocks which make up the index traded a total of 63.58 million units; 21 index components rose, with rising volume amounting to 42.12 million shares, while the 9 decliners had volume traded totalling 17.52 million units. The major percentage gainers within the index were
- Hills Industries Limited (HIL), +$0.28 (5.17%) to $5.70 on volume of 155.4 thousand shares;
- Toll Holdings Limited (TOL), +$0.60 (4.57%) to $13.74 on volume of 1.5 million shares;
- PMP Limited (PMP), +$0.07 (4.29%) to $1.70 on volume of 646.7 thousand shares;
- Alesco Corporation Limited (ALS), +$0.43 (4.15%) to $10.80 on volume of 351.6 thousand shares; and
- Australian Infrastructure Fund (AIX), +$0.12 (3.87%) to $3.22 on volume of 1.2 million shares.
Second in the index leadership stakes was Consumer Discretionary (XDJ), which gained 39.1 points (1.48%) to 2681.3 points. The 25 stocks which make up the index traded a total of 36.42 million units; 19 index components rose, with rising volume amounting to 26.77 million shares, while the 5 decliners had volume traded totalling 9.25 million units. The major percentage gainers within the index were
- ABC Learning Centres Limited (ABS), +$0.61 (11.07%) to $6.12 on volume of 3.8 million shares;
- Aristocrat Leisure Limited (ALL), +$0.49 (5.13%) to $10.04 on volume of 2.5 million shares;
- Stw Communications Group Limited (SGN), +$0.11 (4.66%) to $2.47 on volume of 198.6 thousand shares;
- David Jones Limited (DJS), +$0.16 (3.35%) to $4.93 on volume of 2.5 million shares; and
- Publishing & Broadcasting Limited (PBL), +$0.57 (2.97%) to $19.74 on volume of 1.3 million shares.
The bronze medal for today goes to ASX200 Financials ex Property Trusts (XXJ), which climbed 103.5 points (1.39%) to 7528.1 points. The 29 stocks which make up the index traded a total of 60.06 million units; 19 index components rose, with rising volume amounting to 43.96 million shares, while the 8 decliners had volume traded totalling 13.42 million units. The major percentage gainers within the index were
- IOOF Holdings Limited (IFL), +$0.46 (5.31%) to $9.12 on volume of 123.3 thousand shares;
- Australia And New Zealand Banking Group Limited (ANZ), +$1.05 (3.83%) to $28.45 on volume of 9.5 million shares;
- Tower Australia Group Limited (TAL), +$0.09 (3.83%) to $2.44 on volume of 479.9 thousand shares;
- Babcock & Brown Limited (BNB), +$0.77 (2.85%) to $27.77 on volume of 1.4 million shares; and
- City Pacific Limited (CIY), +$0.10 (2.82%) to $3.64 on volume of 126.3 thousand shares.
The only declining index for the session was Materials (XMJ), which dipped 23 points (0.15%) to 15251.7 points. The 42 stocks which make up the index traded a total of 149.25 million units; The 25 decliners had volume traded totalling 116.11 million units, and 15 index components rose, with rising volume amounting to 31.55 million shares, The major percentage decliners within the index were
- Sino Gold Mining Limited (SGX), -$0.42 (5.6%) to $7.08 on volume of 1 million shares;
- Newcrest Mining Limited (NCM), -$1.32 (3.86%) to $32.86 on volume of 2.6 million shares;
- Fortescue Metals Group Ltd (FMG), -$1.7 (3.34%) to $49.25 on volume of 538.6 thousand shares;
- Murchison Metals Ltd (MMX), -$0.14 (3%) to $4.53 on volume of 3 million shares; and
- Zinifex Limited (ZFX), -$0.41 (2.77%) to $14.39 on volume of 7 million shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XNJ | Industrials | 6924.3 | 109.4 | 1.61 | 64m |
| XDJ | Consumer Discretionary | 2681.3 | 39.1 | 1.48 | 36m |
| XXJ | ASX200 Financials ex Property Trusts | 7528.1 | 103.5 | 1.39 | 60m |
| XPJ | Property Trusts | 2290.7 | 27.4 | 1.21 | 98m |
| XHJ | Healthcare | 9037.1 | 104.3 | 1.17 | 15m |
| XIJ | Information Technology | 580.7 | 6.3 | 1.1 | 2m |
| XTJ | Telecommunications | 1665.8 | 17.4 | 1.06 | 69m |
| XUJ | Utilities | 6829.6 | 70.4 | 1.04 | 33m |
| XSJ | Consumer Staples | 8678.2 | 83.1 | 0.97 | 46m |
| XEJ | Energy | 15640.9 | 82.6 | 0.53 | 37m |
| XMJ | Materials | 15251.7 | -23 | -0.15 | 149m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| TLSCA | Telstra (Installment Receipts) | 3.17 | 0.04 | 1.28 | 33.4m |
| TLS | Telstra Corporation Limited. | 4.69 | 0.04 | 0.86 | 26.9m |
| OXR | Oxiana Limited | 4.02 | -0.04 | -0.99 | 22.9m |
| LGL | Lihir Gold Limited | 3.95 | -0.07 | -1.74 | 22.3m |
| CGJ | Coles Group Limited | 15.25 | 0.00 | 0 | 19.5m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| ABS | ABC Learning Centres Limited | 6.12 | 0.61 | 11.07 | 3.8m |
| HTA | Hutchison Telecommunications (Australia) Limited | 0.21 | 0.02 | 10.81 | 406.2k |
| TZN | Terramin Australia Limited. | 3.80 | 0.30 | 8.57 | 658.5k |
| ARR | Arasor International Limited | 1.46 | 0.10 | 6.99 | 102.7k |
| EQT | Equity Trustees Limited | 32.00 | 2.00 | 6.67 | 38.8k |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| NFL | Natural Fuel Limited | 0.14 | -0.04 | -22.22 | 2.9m |
| RNY | Reckson New York Property Trust | 0.80 | -0.12 | -12.64 | 697.2k |
| DVN | Devine Limited | 1.45 | -0.18 | -11.04 | 41.5k |
| RSG | Resolute Mining Limited | 1.87 | -0.23 | -10.95 | 404.8k |
| EQI | Equigold NL | 3.28 | -0.31 | -8.64 | 678.9k |
