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Every now and then, the market produces little slivers of evidence that most market participants should not b permitted to breed - for fear that humanity breeds itself to such a level of stupidity that we forget how to breathe.
That said, Australian markets did not have quite the same level of witless abandon as their US counterparts; by comparison, the bounce in the All Ords was sedate. But really, if the best one can say is that Australian 'investors' are not as stupid as their US counterparts... it is like taking solace in the fact that Australia's foreign policy is only helping to kill innocent brown children to provide truckloads of garmonbozia for the psychic parasite that inhabit's Dick Cheney's chest cavity.
And as usual, the overwhelming majority of the day's move was over within minutes of the Opening Orgasm... the "Dumb Money At Work" signal.
Major Market Indices
The broad market - the All Ordinaries (XAO) - rose strongly, registering a gain of 79.1 points (1.20%), finishing at 6650 points. The index hit an intraday high of 6660.0 about five minutes after the open, while the low for the day was at the open (a statistical artifact - the traded low during the session after all stocks had opened, was 6626.4 - set at about 2:40 pm).
Total volume traded on the ASX was 1.75 billion units, its 10-day average. The ASX's daily listing of all stocks included 1474 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 737 issues rose, with volume in rising issues totalling 1.24 billion units. Conversely (or even contrariwise), 463 stocks were dragged below the Plimsoll line, with aggregate volume traded of 384.3 million shares.
Of the 487 All Ordinaries components, 273 rose while 143 fell. Volume was tilted in favour of the gainers by a margin of 2.8:1, with 513.75 million shares traded in gainers while 182.43 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) - managed a solid gain, adding 83.4 points (1.28%), closing out the session at 6598.6 points.
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - performed solidly, in moving up 44.5 points (1.24%), closing out the session at 3636.9 points.
Among the 20 big guns, 16 index components finished to the upside, and of the rest, 2 closed lower for the session. The 21 stocks which make up the index traded a total of 132.91 million units; 16 index components rose, with rising volume amounting to 105.92 million shares, while the 2 decliners had volume traded totalling 5.3 million units. The major percentage gainers within the index were
- Westfield Group (WDC), +$0.51 (2.54%) to $20.62 on volume of 4 million shares;
- National Australia Bank Limited (NAB), +$0.92 (2.1%) to $44.80 on volume of 4.2 million shares;
- St George Bank Limited (SGB), +$0.68 (1.82%) to $38.10 on volume of 1.1 million shares;
- AMP Limited (AMP), +$0.17 (1.68%) to $10.26 on volume of 5.2 million shares; and
- Commonwealth Bank Of Australia (CBA), +$0.99 (1.64%) to $61.37 on volume of 2.9 million shares.
On the less salubrious side of the big-cap fence, two big Oil and Diversified Resources stocks were the worst-performed within the index:
- Rio Tinto Limited (RIO), -$1.38 (0.99%) to $137.62 on volume of 3.2 million shares; and
- Woodside Petroleum Limited (WPL), -$0.43 (0.82%) to $52.00 on volume of 2.1 million shares.
At the other end of the market-cap spectrum is the ASX Small Ordinaries (XSO). The small end of the market had a somewhat better day than its large-cap counterpart. The Small Ords performed solidly, in moving up 52.5 points (1.33%), closing out the session at 4008.3 points.
Among the stocks that make up the Small Caps index, 120 index components finished to the upside, and of the rest, 61 closed lower for the session.
The 197 stocks which make up the index traded a total of 249.52 million units: volume in the 120 gainers totalling 172.59 million shares, with trade totalling 61.84 million units in the index's 61 declining components. The major percentage gainers within the index were- Flexigroup Limited (FXL), +$0.34 (14.59%) to $2.67 on volume of 87.9 thousand shares;
- Mintails Limited (MLI), +$0.09 (13.39%) to $0.72 on volume of 1.1 million shares;
- Iluka Resources Limited (ILU), +$0.41 (10.15%) to $4.45 on volume of 4.9 million shares;
- Felix Resources Limited (FLX), +$0.73 (9.86%) to $8.13 on volume of 413.6 thousand shares; and
- Equigold NL (EQI), +$0.25 (7.69%) to $3.50 on volume of 293.5 thousand shares.
In the red-zone of the little-stock index, the the biggest downers (in terms of percentage decline) had a bit of an 'oil-y' feel about them:
- Murchison Metals Ltd (MMX), -$0.36 (7.93%) to $4.18 on volume of 3.8 million shares;
- Reckson New York Property Trust (RNY), -$0.06 (6.96%) to $0.74 on volume of 913.1 thousand shares;
- AED Oil Limited (AED), -$0.32 (4.34%) to $7.05 on volume of 4.2 million shares;
- TAP OIL Limited (TAP), -$0.09 (3.64%) to $2.38 on volume of 402.2 thousand shares; and
- Bravura Solutions Limited (BVA), -$0.06 (3.03%) to $1.92 on volume of 114.6 thousand shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 6650 | 79.1 | 1.2 | 751.1m |
| XTL | ASX 20 | 3636.9 | 44.5 | 1.24 | 132.9m |
| XFL | ASX 50 | 6422.5 | 78.4 | 1.24 | 226.2m |
| XTO | ASX 100 | 5333.5 | 67.3 | 1.28 | 421.7m |
| XJO | ASX 200 | 6598.6 | 83.4 | 1.28 | 571.2m |
| XKO | ASX 300 | 6616.2 | 83.8 | 1.28 | 671.6m |
| XMD | ASX Mid-Cap 50 | 6662.6 | 99.5 | 1.52 | 195.5m |
| XSO | ASX Small Ordinaries | 4008.3 | 52.5 | 1.33 | 249.9m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 16 | 74 | 136 | 272 | 120 | 737 |
| Declines | 2 | 21 | 54 | 143 | 61 | 463 |
| Advancing Volume | 105.9m | 303.4m | 404.1m | 510.5m | 172.6m | 1.24 billion |
| Declining Volume | 5.3m | 87.4m | 130.8m | 182.4m | 61.8m | 384.3 million |
GICS Industry Indices
Among the 11 industry indices, it was green across the board, as every sector managed to keep its head above water.
The best performing index was Property Trusts (XPJ), which added 48.5 points (2.12%) to 2339.2 points. The 20 stocks which make up the index traded a total of 104.41 million units; 15 index components rose, with rising volume amounting to 75.82 million shares, while the 4 decliners had volume traded totalling 28.31 million units. The major percentage gainers within the index were
- Centro Properties Group (CNP), +$0.28 (4.29%) to $6.81 on volume of 4.2 million shares;
- GPT Group (GPT), +$0.17 (3.85%) to $4.59 on volume of 9.4 million shares;
- Westfield Group (WDC), +$0.51 (2.54%) to $20.62 on volume of 4 million shares;
- Apn/Uka European Retail Property Group (AEZ), +$0.03 (2.53%) to $1.22 on volume of 566.8 thousand shares; and
- Macquarie DDR Trust (MDT), +$0.03 (2.39%) to $1.07 on volume of 1.5 million shares.
Second in the index leadership stakes was Healthcare (XHJ), which gained 168.7 points (1.87%) to 9205.8 points. The 9 stocks which make up the index traded a total of 14.51 million units; 5 index components rose, with rising volume amounting to 8.59 million shares, while the 3 decliners had volume traded totalling 5.92 million units. The major percentage gainers within the index were
- Sonic Healthcare Limited (SHL), +$0.26 (1.52%) to $17.40 on volume of 1.3 million shares;
- Symbion Health Limited (SYB), +$0.06 (1.46%) to $4.18 on volume of 2.8 million shares;
- Sigma Pharmaceuticals Ltd (SIP), +$0.02 (1.23%) to $1.64 on volume of 4.1 million shares;
- Ramsay Health Care Limited (RHC), +$0.13 (1.21%) to $10.89 on volume of 225.3 thousand shares; and
- Cochlear Limited (COH), +$0.10 (0.14%) to $73.85 on volume of 232.4 thousand shares.
The bronze medal for today goes to Information Technology (XIJ), which climbed 10 points (1.72%) to 590.7 points. The 2 stocks which make up the index traded a total of 3.66 million units; The lone rising index component had volume amounting to 3.39 million shares, while sole declining stock traded 0.28 million units. The major percentage gainers within the index were
- Computershare Limited (CPU), +$0.18 (1.81%) to $10.12 on volume of 3.4 million shares.
As mentioned above, there were no declining sectors today - so we can move on down to the Asian market stuff now.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XPJ | Property Trusts | 2339.2 | 48.5 | 2.12 | 104m |
| XHJ | Healthcare | 9205.8 | 168.7 | 1.87 | 15m |
| XIJ | Information Technology | 590.7 | 10 | 1.72 | 4m |
| XXJ | ASX200 Financials ex Property Trusts | 7653.5 | 125.4 | 1.67 | 56m |
| XUJ | Utilities | 6934.1 | 104.5 | 1.53 | 20m |
| XMJ | Materials | 15417.1 | 165.4 | 1.08 | 129m |
| XSJ | Consumer Staples | 8756.8 | 78.6 | 0.91 | 51m |
| XNJ | Industrials | 6983.4 | 59.1 | 0.85 | 62m |
| XTJ | Telecommunications | 1677.9 | 12.1 | 0.73 | 45m |
| XDJ | Consumer Discretionary | 2694.8 | 13.5 | 0.5 | 39m |
| XEJ | Energy | 15700.4 | 59.5 | 0.38 | 47m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| TLS | Telstra Corporation Limited. | 4.72 | 0.03 | 0.64 | 23.9m |
| BHP | BHP Billiton Limited | 42.28 | 0.48 | 1.15 | 22.8m |
| CGJ | Coles Group Limited | 15.25 | 0.00 | 0 | 19.5m |
| MOF | Macquarie Office Trust | 1.50 | -0.03 | -1.97 | 19.1m |
| CPA | Commonwealth Property Office Fund | 1.54 | 0.01 | 0.66 | 16.2m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| BEI | Babcock & Brown Environmental Investments Limited | 0.48 | 0.10 | 26.32 | 5.4m |
| FXL | Flexigroup Limited | 2.67 | 0.34 | 14.59 | 87.9k |
| MLI | Mintails Limited | 0.72 | 0.09 | 13.39 | 1.1m |
| ILU | Iluka Resources Limited | 4.45 | 0.41 | 10.15 | 4.9m |
| FLX | Felix Resources Limited | 8.13 | 0.73 | 9.86 | 413.6k |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| MMX | Murchison Metals Ltd | 4.18 | -0.36 | -7.93 | 3.8m |
| RNY | Reckson New York Property Trust | 0.74 | -0.06 | -6.96 | 913.1k |
| FAN | Fantastic Holdings Limited | 4.20 | -0.25 | -5.62 | 25.8k |
| AXQ | Allco Max Securities And Mortgage Trust | 0.58 | -0.03 | -4.96 | 128.7k |
| BOC | Bougainville Copper Limited | 1.20 | -0.06 | -4.76 | 113k |
