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The US markets did next to nothing (or more to the point, they tried to rally but gave up almsot exactly halfway). Crude touched $100 again - getting as high as $100.05 - and it would not surprise me one iota if the next move was an absolute slaughter of small-position longs. I would not ever advocate shorting Crude (same with Gold) but any longs ought to stay well aware of the tendency of the crude futures market to crucify weak hands.
The fact that oil has not already retreated two or three dollars from its $100 print, has made oil-stock bulls (especially those who arrived on the scene in the last six weeks of 2007) a little complacent, methinks.
The US media is awash with raw sewage at the moment - the press is desperately tryig to make a story out of the Iowa Caucuses, despite the fact that only two Presidential candidates in history have won the Iowa poll... Jimmy Carter and George W Bush.
Why the US media has decided that Iowa is imortant is beyond me... anything to prevent having to report on the war, I guess. You know, the one where they are - yet again - getting their arses kicked.
The supposed 'might' of the New Rome is such that they are only any good if they turn up after half time when the other teams have been at each other for several years... like their "wins" in the war of 1917-18 and 1941-45... line them up against fresh Koreans, Vietnamese, Afghans or Iraqis and whoops... next thing they are calling for NATO. They managed to take Grenada, though.
Speaking of moral cowardice, CNN listed what they thought were the geopolitical goings-on which are affecting the oil market: the violence in Kenya, and the tension between Turkey and Kurdish Northern Iraq... the presence of 160,000 US troops and 135,000 US paid mercenaries did not figure on CNNs White House approved list. Brown tongues galore in the New Romania.
Major Market Indices
The broad market - the All Ordinaries (XAO) - managed to hold a gain by the close, after a choppy session. Th eclosing gain was 12.8 points (0.20%), with a closing print at 6385.4 points. The index hit an intraday high of 6420.4 at 11:05 am, before sliding as low as 6355 - a 65-point move downwards - with the low registering just before :30 pm.
Total volume traded on the ASX was 1.59 billion units, 12% above the 10-day average. The ASX's daily listing of all stocks included 1405 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 596 issues rose, with volume in rising issues totalling 1.04 billion units. Conversely (or even contrariwise), 506 stocks were dragged to losses, with aggregate downside volume traded of 448.1 million shares.
Of the 480 All Ordinaries components, 217 rose while 190 fell. Volume was tilted in favour of the gainers by a margin of 2.5:1, with 394.67 million shares traded in gainers while 160.33 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 16.1 points (0.26%), closing out the session at 6306.8 points.
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - advanced by less than half a percent, adding 10.5 points (0.30%), closing out the session at 3466.4 points.
Among the majors, 9 index components finished to the upside, and of the rest, 12 closed lower for the session. The 21 stocks which make up the index traded a total of 66.67 million units; 9 index components rose, with rising volume amounting to 24.2 million shares, while the 12 decliners had volume traded totalling 42.47 million units. The major percentage gainers within the index were
- BHP Billiton Limited (BHP), +$0.69 (1.72%) to $40.79 on volume of 7.7 million shares;
- Brambles Limited (BXB), +$0.16 (1.43%) to $11.37 on volume of 2.6 million shares;
- National Australia Bank Limited (NAB), +$0.35 (0.95%) to $37.30 on volume of 2.9 million shares;
- Woodside Petroleum Limited (WPL), +$0.32 (0.62%) to $52.08 on volume of 1.4 million shares; and
- Rio Tinto Limited (RIO), +$0.79 (0.6%) to $132.40 on volume of 697.8 thousand shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- CSL Limited (CSL), -$1.1 (3.01%) to $35.40 on volume of 777.2 thousand shares;
- Westfield Group (WDC), -$0.43 (2.13%) to $19.72 on volume of 5.4 million shares;
- Qbe Insurance Group Limited (QBE), -$0.5 (1.53%) to $32.10 on volume of 1.3 million shares;
- Wesfarmers Limited (WES), -$0.3 (0.73%) to $40.65 on volume of 597.9 thousand shares; and
- Stockland (SGP), -$0.05 (0.6%) to $8.30 on volume of 4 million shares.
At the other end of the market-cap spectrum lie the denizens of the ASX Small Ordinaries (XSO). The small end of the market moved pretty mcu h in line with its large-cap counterpart - in fact clightly better in percentage terms. The Small Ords advanced by 15 points (0.39%), closing out the session at 3845 points.
Among the stocks that make up the Small Caps index, 94 index components finished to the upside, and of the rest, 81 closed lower for the session.
The 193 stocks which make up the index traded a total of 166.55 million units: volume in the 94 gainers totalling 108.39 million shares, with trade totalling 49.14 million units in the index's 81 declining components. The major percentage gainers within the index were- Alliance Resources Limited (AGS), +$0.16 (11.9%) to $1.51 on volume of 1.1 million shares;
- Lynas Corporation Limited (LYC), +$0.11 (10.5%) to $1.11 on volume of 3 million shares;
- Albidon Limited (ALB), +$0.30 (9.49%) to $3.46 on volume of 528.6 thousand shares;
- Australian Agricultural Company Limited. (AAC), +$0.21 (6.6%) to $3.39 on volume of 136.8 thousand shares; and
- Aquarius Platinum Limited (AQP), +$0.84 (6.43%) to $13.90 on volume of 199.1 thousand shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Gloucester Coal Limited (GCL), -$0.46 (6.97%) to $6.14 on volume of 685.6 thousand shares;
- Austal Limited (ASB), -$0.19 (6.57%) to $2.70 on volume of 121.4 thousand shares;
- APN News & Media Limited (APN), -$0.33 (5.79%) to $5.37 on volume of 677 thousand shares;
- Customers Limited (CUS), -$0.01 (5.71%) to $0.17 on volume of 702.4 thousand shares; and
- Pacific Brands Limited (PBG), -$0.17 (5.3%) to $3.04 on volume of 1.6 million shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 6385.4 | 12.8 | 0.2 | 580m |
| XTL | ASX 20 | 3466.4 | 10.5 | 0.3 | 66.7m |
| XFL | ASX 50 | 6101.5 | 19.8 | 0.33 | 204.7m |
| XTO | ASX 100 | 5095.1 | 12.8 | 0.25 | 336.1m |
| XJO | ASX 200 | 6306.8 | 16.1 | 0.26 | 459.4m |
| XKO | ASX 300 | 6323.6 | 16.8 | 0.27 | 502.6m |
| XMD | ASX Mid-Cap 50 | 6564 | -10.3 | -0.16 | 131.3m |
| XSO | ASX Small Ordinaries | 3845 | 15 | 0.39 | 166.6m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 9 | 47 | 47 | 217 | 94 | 596 |
| Declines | 12 | 47 | 48 | 190 | 81 | 506 |
| Advancing Volume | 24.2m | 217.3m | 217.3m | 394.7m | 108.4m | 1.04 billion |
| Declining Volume | 42.5m | 106.4m | 108.1m | 160.3m | 49.1m | 448.1 million |
GICS Industry Indices
Among the 11 industry indices, it was pretty much even stevens, with a very slight lead to the duds... the 5 that had an "up" day were just shaded by the remaining 6 which didn't.
The best performing index was Materials (XMJ), which added 160.6 points (1.06%) to 15264.3 points. The 43 stocks which make up the index traded a total of 87.09 million units; 23 index components rose, with rising volume amounting to 62.43 million shares, while the 17 decliners had volume traded totalling 23.73 million units. The major percentage gainers within the index were
- Lynas Corporation Limited (LYC), +$0.11 (10.5%) to $1.11 on volume of 3 million shares;
- Aquarius Platinum Limited (AQP), +$0.84 (6.43%) to $13.90 on volume of 199.1 thousand shares;
- Nufarm Limited (NUF), +$0.60 (4.08%) to $15.30 on volume of 1.8 million shares;
- Oxiana Limited (OXR), +$0.13 (3.62%) to $3.72 on volume of 12.6 million shares; and
- Incitec Pivot Limited (IPL), +$4.34 (3.59%) to $125.30 on volume of 301.7 thousand shares.
Second in the index leadership stakes was Energy (XEJ), which gained 95.4 points (0.6%) to 15980 points. The 17 stocks which make up the index traded a total of 30.19 million units; 9 index components rose, with rising volume amounting to 20.74 million shares, while the 6 decliners had volume traded totalling 7.97 million units. The major percentage gainers within the index were
- Paladin Energy Limited (PDN), +$0.17 (2.48%) to $7.02 on volume of 1.6 million shares;
- Australian Worldwide Exploration Limited (AWE), +$0.08 (2.34%) to $3.50 on volume of 2.1 million shares;
- Beach Petroleum Limited (BPT), +$0.04 (2.17%) to $1.65 on volume of 6.4 million shares;
- Roc Oil Company Limited (ROC), +$0.05 (1.58%) to $3.21 on volume of 755.3 thousand shares; and
- Worleyparsons Limited (WOR), +$0.60 (1.19%) to $51.06 on volume of 237.2 thousand shares.
The bronze medal for today goes to ASX200 Financials ex Property Trusts (XXJ), which climbed 12.2 points (0.17%) to 7040.1 points. The 28 stocks which make up the index traded a total of 33.12 million units; 9 index components rose, with rising volume amounting to 12.56 million shares, while the 17 decliners had volume traded totalling 20.07 million units. The major percentage gainers within the index were
- IOOF Holdings Limited (IFL), +$0.23 (2.8%) to $8.43 on volume of 60 thousand shares;
- ASX Limited (ASX), +$0.79 (1.36%) to $58.94 on volume of 591.3 thousand shares;
- Lend Lease Corporation Limited (LLC), +$0.17 (1.02%) to $16.85 on volume of 1.5 million shares;
- National Australia Bank Limited (NAB), +$0.35 (0.95%) to $37.30 on volume of 2.9 million shares; and
- Perpetual Limited (PPT), +$0.49 (0.75%) to $65.60 on volume of 62.1 thousand shares.
The worst-performed index for the session was Information Technology (XIJ), which dipped 11 points (1.9%) to 567 points. The index only has two stocks in it - they both rose, with the movements as follows -
- Iress Market Technology Limited (IRE), -$0.29 (3.5%) to $8.00 on volume of 162.3 thousand shares; and
- Computershare Limited (CPU), -$0.13 (1.32%) to $9.72 on volume of 641.8 thousand shares.
Just missing out on the wooden spoon was Healthcare (XHJ), which slid 138.4 points (1.44%) to 9486.4 points. The 9 stocks which make up the index traded a total of 9.55 million units; The 5 decliners had volume traded totalling 5.75 million units, and 4 index components rose, with rising volume amounting to 3.8 million shares, The major percentage decliners within the index were
- CSL Limited (CSL), -$1.1 (3.01%) to $35.40 on volume of 777.2 thousand shares;
- Sigma Pharmaceuticals Ltd (SIP), -$0.02 (0.94%) to $1.59 on volume of 1.6 million shares;
- Ansell Limited (ANN), -$0.11 (0.92%) to $11.89 on volume of 716 thousand shares;
- Ramsay Health Care Limited (RHC), -$0.04 (0.37%) to $10.90 on volume of 106.2 thousand shares; and
- Symbion Health Limited (SYB), -$0.01 (0.25%) to $3.97 on volume of 2.6 million shares.
Third-to-last amongst the sector indices was Utilities (XUJ), which slid 46.5 points (0.7%) to 6573.6 points. The 11 stocks which make up the index traded a total of 9.68 million units; The 6 decliners had volume traded totalling 5.39 million units, and 3 index components rose, with rising volume amounting to 2.21 million shares, The major percentage decliners within the index were
- Sp Ausnet (SPN), -$0.03 (2.41%) to $1.22 on volume of 1.8 million shares;
- Spark Infrastructure Group (SKI), -$0.05 (2.27%) to $1.94 on volume of 335.2 thousand shares;
- Duet Group (DUE), -$0.04 (1.36%) to $2.90 on volume of 1 million shares;
- Hastings Diversified Utilities Fund (HDF), -$0.03 (0.98%) to $3.03 on volume of 190.2 thousand shares; and
- AGL Energy Limited (AGK), -$0.11 (0.82%) to $13.36 on volume of 360.8 thousand shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XMJ | Materials | 15264.3 | 160.6 | 1.06 | 87m |
| XEJ | Energy | 15980 | 95.4 | 0.6 | 30m |
| XXJ | ASX200 Financials ex Property Trusts | 7040.1 | 12.2 | 0.17 | 33m |
| XNJ | Industrials | 6466.3 | 6.6 | 0.1 | 43m |
| XDJ | Consumer Discretionary | 2677.7 | 2.3 | 0.09 | 29m |
| XSJ | Consumer Staples | 8876.4 | -10.3 | -0.12 | 10m |
| XPJ | Property Trusts | 2043.1 | -3.4 | -0.17 | 179m |
| XTJ | Telecommunications | 1669.5 | -7.2 | -0.43 | 28m |
| XUJ | Utilities | 6573.6 | -46.5 | -0.7 | 10m |
| XHJ | Healthcare | 9486.4 | -138.4 | -1.44 | 10m |
| XIJ | Information Technology | 567 | -11 | -1.9 | 1m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| CNP | Centro Properties Group | 1.29 | 0.17 | 14.73 | 71.3m |
| CER | Centro Retail | 0.97 | 0.01 | 1.05 | 33.1m |
| PSV | Perseverance Corporation Limited | 0.20 | 0.01 | 2.63 | 19.3m |
| EMP | Emperor Mines Limited | 0.08 | 0.00 | 4 | 17.2m |
| TLS | Telstra Corporation Limited. | 4.70 | -0.01 | -0.21 | 13.9m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| AIM | Aim Resources Limited | 0.16 | 0.03 | 18.52 | 12.1m |
| BDG | Bendigo Mining Limited | 0.43 | 0.06 | 16.22 | 8.7m |
| CNP | Centro Properties Group | 1.29 | 0.17 | 14.73 | 71.3m |
| AGS | Alliance Resources Limited | 1.51 | 0.16 | 11.9 | 1.1m |
| SEN | SENETAS CORPORATION | 0.09 | 0.01 | 10.71 | 1.6m |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| IRN | Indophil Resources NL | 0.88 | -0.08 | -7.85 | 519.9k |
| GCL | Gloucester Coal Limited | 6.14 | -0.46 | -6.97 | 685.6k |
| PFG | Prime Financial Group Limited | 0.70 | -0.05 | -6.67 | 22.5k |
| ASB | Austal Limited | 2.70 | -0.19 | -6.57 | 121.4k |
| LEP | ALE Property Group | 3.61 | -0.25 | -6.48 | 42.2k |
