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Still moderately crook - and to make matters worse, my penchant for badly-written D-grade horror made me sit up and watch the tally for the New Hampshire primaries.
There is one thing that must be said about American party loyalists - they are morons. Give them any three-syllable phrase, and they will chant it to the same cadence as the "U! S! A!" chant made famous by supporters of the US hockey team during some or other Olympics.
So consider: "John Mc Cain", "O Ba Ma" (I'm not kidding), "Yes We Can", "Mac Is Back", "Ju-den Raus", "Gott Mit Uns"... oops those last two are from Dick Cheney's private collection of Hitler oratory porn...
But seriously - it was like watching a badly choreographed Soviet-era Party conclave, crossed with American Idol (or any of the seemingly endless varieties on the same grotesque theme). Grown people screaming like schoolgirls because they like parasite A in preference to parasite B. "Yay Tapeworm" versus "We love Genital Fungus".
OK - so genital fungus is not technically a parasite - but you get my drift.
And now every candidate is a 'Washington outsider' - even those who have spent decades bringing home the pork for their specific area. It's like they all have the same focus groups.
And the schlock level is just barf-worthy... could you ever say "I listened to you, and in the process I found my own voice" - without either bursting into laughter, or chucking your guts up in a display of projectile vomiting? And yet this was touted as evidence that HIllary Clinton is no longer a marionette for Bill... this was seen as being 'genuine'. My God... it is the least genuine sentiment I have heard since Phony Blair retired, and that level of fake sincerity displays a contempt for the audience that should result in lynching.
Anyhow - that is by way of explanation as to why I was up until 5 a.m.; I should have stayed awake another hour and a half and got the OzRant done early, but my eyes just shut up shop in me.
In Straya, the economic news was reasonabyy solid - November retail spending numbers rose 0.8% for the month (above expectations), and Job Ads rose 6% for the three months to November.
So two months ago things were tootling long OK on the retail and employment-demand side of things. In other important up-to-the-minute developments, Prime Minister Harold Holt disappeared in the 1960s. (In other words, it serves no purpose whatsoever to look at economic numbers from ten weeks ago...)
Major Market Indices
The broad market - the All Ordinaries (XAO) - declined for th third straight session, shedding 46.2 points (0.74%) to register a close at 6159.5 points. The intraday hgh for the index was 6205.7 at the open (again) - which was solely due to the opening process (the index does not give reliable values until about 10:10 a.m. Sydney time). Tthe low for the day was 6111.1 - set at 10:55 am - and thereafter the market tried to rally, with some limited success.
Total volume traded on the ASX was 1.64 billion units, 4% above its 10-day average. The ASX's daily listing of all stocks included 1448 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 333 issues rose, with volume in rising issues totalling 551.3 million units. 821 stocks fell, with aggregate volume traded of 911.8 million shares.
Of the 480 All Ordinaries components, 110 rose while 312 fell. Volume was tilted in favour of the losers by a margin of 2.2:1, with 211.72 million shares traded in gainers while 475.95 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) - fell less in percentage terms than the Ords, losing 40.4 points (0.66%) to post a closing print at 6087.7 points.
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - slid modestly, falling 23 points (0.68%), closing out the session at 3344.4 points.
Among the big guns, 4 index components finished to the upside, and of the rest, 17 closed lower for the session. The index components traded a total of 130.82 million units; 4 index components rose, with rising volume amounting to 23.15 million shares, while the 17 decliners had volume traded totalling 107.67 million units. The major percentage gainers within the index were
- QBE Insurance Group Limited (QBE), +$0.40 (1.29%) to $31.30 on volume of 1.9 million shares;
- Woodside Petroleum Limited (WPL), +$0.49 (0.95%) to $51.85 on volume of 1.8 million shares;
- Westfield Group (WDC), +$0.07 (0.37%) to $19.02 on volume of 7.2 million shares; and
- BHP Billiton Limited (BHP), +$0.01 (0.03%) to $39.01 on volume of 12.3 million shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- Suncorp-Metway Limited. (SUN), -$0.37 (2.33%) to $15.53 on volume of 7.8 million shares;
- Woolworths Limited (WOW), -$0.73 (2.21%) to $32.30 on volume of 3.8 million shares;
- Wesfarmers Limited (WES), -$0.87 (2.18%) to $39.11 on volume of 1.2 million shares;
- Stockland (SGP), -$0.15 (1.89%) to $7.80 on volume of 4.2 million shares; and
- Australia And New Zealand Banking Group Limited (ANZ), -$0.5 (1.87%) to $26.25 on volume of 5.7 million shares.
At the small-cap end of the market, the ASX Small Ordinaries (XSO) had a significantly worse day than its large-cap counterpart. The Small Ords registered a loss of 41.9 points (1.12%), closing out the session at 3698.2 points.
Among the stocks that make up the Small Caps index, 53 index components finished to the upside, and of the rest, 127 closed lower for the session.
The 193 stocks which make up the index traded a total of 207.14 million units: volume in the 53 gainers totalling 55.37 million shares, with trade totalling 129.83 million units in the index's 127 declining components. The major percentage gainers within the index were- Equigold NL (EQI), +$0.31 (8.24%) to $4.07 on volume of 481.2 thousand shares;
- Resolute Mining Limited (RSG), +$0.11 (5.91%) to $1.97 on volume of 622.4 thousand shares;
- Sino Gold Mining Limited (SGX), +$0.41 (5.62%) to $7.70 on volume of 1.4 million shares;
- Coeur d'Alene Mines Corporation (CXC), +$0.28 (5.6%) to $5.28 on volume of 402 thousand shares; and
- Gloucester Coal Limited (GCL), +$0.26 (4.6%) to $5.91 on volume of 302.7 thousand shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Centro Retail (CER), -$0.07 (8.43%) to $0.76 on volume of 16.1 million shares;
- Industrea Limited (IDL), -$0.05 (6.87%) to $0.61 on volume of 7 million shares;
- Compass Resources NL (CMR), -$0.17 (6.54%) to $2.43 on volume of 879.2 thousand shares;
- Albidon Limited (ALB), -$0.23 (6.41%) to $3.36 on volume of 259.9 thousand shares; and
- Galileo Japan Trust (GJT), -$0.05 (6.25%) to $0.75 on volume of 176.9 thousand shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 6159.5 | -46.2 | -0.74 | 723m |
| XTL | ASX 20 | 3344.4 | -23 | -0.68 | 130.8m |
| XFL | ASX 50 | 5904 | -29.3 | -0.49 | 270.7m |
| XTO | ASX 100 | 4920.7 | -29.9 | -0.6 | 467.4m |
| XJO | ASX 200 | 6087.7 | -40.4 | -0.66 | 609.8m |
| XKO | ASX 300 | 6104.4 | -40.6 | -0.66 | 674.5m |
| XMD | ASX Mid-Cap 50 | 6273 | -76.8 | -1.21 | 196.6m |
| XSO | ASX Small Ordinaries | 3698.2 | -41.9 | -1.12 | 207.1m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 4 | 24 | 24 | 110 | 53 | 333 |
| Declines | 17 | 71 | 72 | 312 | 127 | 821 |
| Advancing Volume | 23.2m | 145m | 145m | 211.7m | 55.4m | 551.3 million |
| Declining Volume | 107.7m | 314.4m | 316.9m | 475.9m | 129.8m | 911.8 million |
GICS Industry Indices
Among the 11 industry indices, today's market action was dominated by sectoral declines - only one sector managed a gain for the day.
The sole index to rgister a gain was Materials (XMJ), which added 105.4 points (0.72%) to 14780.9 points. The 43 stocks which make up the index traded a total of 135.42 million units; 17 index components rose, with rising volume amounting to 86.31 million shares, while the 23 decliners had volume traded totalling 32.95 million units. The major percentage gainers within the index were
- Lihir Gold Limited (LGL), +$0.24 (6.5%) to $3.93 on volume of 20.6 million shares;
- Newcrest Mining Limited (NCM), +$2.31 (6.27%) to $39.15 on volume of 2.8 million shares;
- Sino Gold Mining Limited (SGX), +$0.41 (5.62%) to $7.70 on volume of 1.4 million shares;
- Coeur d'Alene Mines Corporation (CXC), +$0.28 (5.6%) to $5.28 on volume of 402 thousand shares; and
- Mount Gibson Iron (MGX), +$0.12 (4.44%) to $2.82 on volume of 3.3 million shares.
The worst-performed index for the session was Consumer Staples (XSJ), which dipped 149.5 points (1.71%) to 8599.9 points. The 10 stocks which make up the index traded a total of 21.09 million units; The 9 decliners had volume traded totalling 18.76 million units, and volume in the lone rising index component was 2.33 million shares, The major percentage decliners within the index were
- AWB Limited (AWB), -$0.14 (4.56%) to $2.93 on volume of 919.9 thousand shares;
- Woolworths Limited (WOW), -$0.73 (2.21%) to $32.30 on volume of 3.8 million shares;
- Wesfarmers Limited (WES), -$0.87 (2.18%) to $39.11 on volume of 1.2 million shares;
- ABB Grain Limited (ABB), -$0.15 (1.66%) to $8.86 on volume of 689.4 thousand shares; and
- Goodman Fielder Limited (GFF), -$0.03 (1.35%) to $1.83 on volume of 2.4 million shares.
Just missing out on the wooden spoon was Consumer Discretionary (XDJ), which slid 40.2 points (1.54%) to 2571.4 points. The 27 stocks which make up the index traded a total of 46.05 million units; The 18 decliners had volume traded totalling 40.29 million units, and 6 index components rose, with rising volume amounting to 4.46 million shares, The major percentage decliners within the index were
- Harvey Norman Holdings Limited (HVN), -$0.33 (5.08%) to $6.16 on volume of 8.5 million shares;
- Just Group Limited (JST), -$0.21 (4.33%) to $4.64 on volume of 790.9 thousand shares;
- Consolidated Media Holdings Limited (CMJ), -$0.16 (3.86%) to $3.98 on volume of 4.3 million shares;
- ABC Learning Centres Limited (ABS), -$0.14 (2.93%) to $4.64 on volume of 2.6 million shares; and
- Ten Network Holdings Limited (TEN), -$0.08 (2.93%) to $2.65 on volume of 543.6 thousand shares.
Third-to-last amongst the sector indices was Information Technology (XIJ), which slid 7.8 points (1.44%) to 533.9 points. As I've mentioned before, this index only has two components. Today those 2 stocks traded a total of 1.46 million units; all to the downside. The index components lined up as follows -
- Iress Market Technology Limited (IRE), -$0.21 (2.69%) to $7.61 on volume of 370.6 thousand shares; and
- Computershare Limited (CPU), -$0.13 (1.41%) to $9.09 on volume of 1.1 million shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XMJ | Materials | 14780.9 | 105.4 | 0.72 | 135m |
| XEJ | Energy | 15583.6 | -16.6 | -0.11 | 29m |
| XPJ | Property Trusts | 1949.1 | -4.5 | -0.23 | 153m |
| XHJ | Healthcare | 9334.4 | -49.7 | -0.53 | 7m |
| XTJ | Telecommunications | 1625.6 | -9.1 | -0.56 | 53m |
| XUJ | Utilities | 6422.3 | -54.4 | -0.84 | 19m |
| XNJ | Industrials | 6222.6 | -76.7 | -1.22 | 71m |
| XXJ | ASX200 Financials ex Property Trusts | 6768.9 | -92.2 | -1.34 | 74m |
| XIJ | Information Technology | 533.9 | -7.8 | -1.44 | 1m |
| XDJ | Consumer Discretionary | 2571.4 | -40.2 | -1.54 | 46m |
| XSJ | Consumer Staples | 8599.9 | -149.5 | -1.71 | 21m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| TLS | Telstra Corporation Limited. | 4.56 | -0.04 | -0.87 | 25.5m |
| TLSCA | Telstra (Installment Receipts) | 3.02 | -0.04 | -1.31 | 23.9m |
| LGL | Lihir Gold Limited | 3.93 | 0.24 | 6.5 | 20.6m |
| CNP | Centro Properties Group | 1.13 | -0.04 | -3.02 | 20.4m |
| MCW | Macquarie Countrywide Trust | 1.51 | -0.02 | -0.99 | 20.1m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| CUV | Clinuvel Pharmaceuticals Limited | 0.50 | 0.15 | 42.86 | 2.3m |
| MSB | Mesoblast Limited | 1.26 | 0.11 | 9.13 | 53.5k |
| EQI | Equigold NL | 4.07 | 0.31 | 8.24 | 481.2k |
| MPY | MFS Living and Leisure Group | 0.70 | 0.05 | 7.69 | 59k |
| LGL | Lihir Gold Limited | 3.93 | 0.24 | 6.5 | 20.6m |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| LFE | Life Therapeutics Limited | 0.26 | -0.03 | -10.53 | 408.2k |
| TCQ | Trinity Consolidated Group | 1.92 | -0.19 | -9 | 52.4k |
| MLX | Metals X Limited | 0.32 | -0.03 | -8.57 | 333.4k |
| CER | Centro Retail | 0.76 | -0.07 | -8.43 | 16.1m |
| AEP | Allco Equity Partners Limited. | 3.21 | -0.29 | -8.29 | 58.8k |
