Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.
The agliness to which the best lay'd plans can aft gang, should never surprise one. {Apologies to those who don't speak The Poet Burns}. But really - you sort of expect that if you stickytape the HTML in the right hole on the internets tubes, that it will pop out where you ought to expect it.
Not so - I plonked the OzRant's juicy fulminations into Blogger's gaping maw, and hit 'Publish'... then for the first time in years, I didn't click "View Blog".
Why? You ask. Good question. Because I had already spell checked it, and read it through thoroughly; I was confident that I hadn't left any grossies there to stick out like a bulldog's danglies.
{Of course that guarantees that such a grossie appears below}
Now you might think that the above doesn't sound like a very plausible reason... so I confess. I really, really needed a poo at 9 a.m. French time... the legacy of having sat up since 5 a.m. eating yesterday's baguette while gnawing on one of those wild boar sausages I mentioned earlier in the week. Delicious, but prone to getting one's gizzards to rumbling.
For those who are interested, yes we are talking about the brown turtle trying to make an appearance from within the chocolate starfish...
What's worse - I lost all the wisdom that usually graces the prefatory paras, so we're left with poo-jokes...
Major Market Indices
The broad market - the All Ordinaries (XAO) - dipped reasonably hard, registering a loss of 62.1 points (1.25%), finishing at 4915.3 points. The index hit an intraday high of 4982.9 at 10:20 am, while the low for the day was 4901.9 - set at 2:38 pm Sydney time.
Total volume traded on the ASX was 1.11 billion units, 25.2% below its 10-day average. The ASX's daily listing of all stocks included 1356 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 473 issues rose, with volume in rising issues totalling 422.4 million units. 619 stocks dropped for the day, with aggregate volume traded of 559 million shares.
Of the 494 All Ordinaries components, 176 rose while 254 fell. Volume was tilted in favour of the losers by a margin of 1.6:1, with 259.46 million shares traded in gainers while 414.56 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) - registered a loss of 60.6 points (1.24%), closing out the session at 4840.4 points.
| Name | Close | +/-(%) |
|---|---|---|
| All Ordinaries | 4915.30 | -62.10 (1.2%) |
| ASX 50 | 4747.10 | -57.20 (1.2%) |
| ASX 200 | 4840.40 | -60.60 (1.2%) |
| ASX 300 | 4837.10 | -61.40 (1.3%) |
| ASX Mid-Cap 50 | 4715.50 | -69.60 (1.5%) |
| ASX Small Ordinaries | 2803.50 | -42.50 (1.5%) |
| ASX 20 | 2728.40 | -27.20 (1.0%) |
| ASX 100 | 3918.70 | -48.70 (1.2%) |
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - slid modestly, falling 27.2 points (0.99%), closing out the session at 2728.4 points.
Among the 20 big guns, 8 index components finished to the upside, and of the rest, 11 closed lower for the session. The 20 stocks which make up the index traded a total of 98.53m units; 8 index components rose, with rising volume amounting to 34.46m shares, while the 11 decliners had volume traded totalling 48.19m units. The major percentage gainers within the index were
- CSL (CSL), +$2.12 (6.06%) to $37.12 on volume of 2.7m shares;
- Stockland (SGP), +$0.20 (4.58%) to $4.57 on volume of 7.5m shares;
- Foster's Group (FGL), +$0.06 (1.3%) to $4.66 on volume of 7.3m shares;
- Woolworths (WOW), +$0.23 (0.92%) to $25.23 on volume of 2.5m shares; and
- Westfield Group (WDC), +$0.12 (0.8%) to $15.18 on volume of 6m shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- Woodside Petroleum (WPL), -$2.89 (4.94%) to $55.61 on volume of 2.4m shares;
- Macquarie Group (MQG), -$1.84 (3.85%) to $45.91 on volume of 2m shares;
- BHP Billiton (BHP), -$0.76 (2.02%) to $36.79 on volume of 12.3m shares;
- Rio Tinto (RIO), -$2 (1.69%) to $116.00 on volume of 1.3m shares; and
- National Australia Bank (NAB), -$0.46 (1.68%) to $26.89 on volume of 5.6m 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 had significantly worse day than its large-cap counterpart. The Small Ords registered a loss of 42.5 points (1.49%), closing out the session at 2803.5 points.
Among the stocks that make up the Small Caps index, 59 index components finished to the upside, and of the rest, 123 closed lower for the session.
The 195 stocks which make up the index traded a total of 212.76m units: volume in the 59 gainers totalling 57.29m shares, with trade totalling 148.47m units in the index's 123 declining components. The major percentage gainers within the index were- Paperlinx Limited (PPX), +$0.24 (14.11%) to $1.90 on volume of 3.6m shares;
- Challenger Diversified Property Group (CDI), +$0.07 (12.38%) to $0.59 on volume of 528.2 thousand shares;
- Record Realty (RRT), +$0.01 (9.8%) to $0.06 on volume of 252.8 thousand shares;
- Redflex Holdings Limited (RDF), +$0.19 (9.5%) to $2.19 on volume of 248.2 thousand shares; and
- Australand Property Group (ALZ), +$0.07 (7.87%) to $0.96 on volume of 1.1m shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Credit Corp Group Limited (CCP), -$0.11 (14.1%) to $0.67 on volume of 345.6k shares;
- Albidon Limited (ALB), -$0.4 (13.33%) to $2.60 on volume of 564.8k shares;
- Kagara Zinc Limited (KZL), -$0.39 (12.19%) to $2.81 on volume of 2.1m shares;
- Lynas Corporation Limited (LYC), -$0.14 (11.07%) to $1.09 on volume of 6.2m shares; and
- Sylvania Resources Limited (SLV), -$0.2 (10.53%) to $1.70 on volume of 14.1k shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 4915.3 | -62.1 | -1.25 | 731.5m |
| XFL | ASX 50 | 4747.1 | -57.2 | -1.19 | 262.5m |
| XJO | ASX 200 | 4840.4 | -60.6 | -1.24 | 608m |
| XKO | ASX 300 | 4837.1 | -61.4 | -1.25 | 668m |
| XMD | ASX Mid-Cap 50 | 4715.5 | -69.6 | -1.45 | 192.8m |
| XSO | ASX Small Ordinaries | 2803.5 | -42.5 | -1.49 | 212.8m |
| XTL | ASX 20 | 2728.4 | -27.2 | -0.99 | 98.5m |
| XTO | ASX 100 | 3918.7 | -48.7 | -1.23 | 455.3m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 8 | 38 | 70 | 176 | 59 | 473 |
| Declines | 11 | 55 | 119 | 254 | 123 | 619 |
| Advancing Volume | 34.5m | 169.4m | 215.1m | 259.5m | 57.3m | 422.4m |
| Declining Volume | 48.2m | 237.3m | 342.3m | 414.6m | 148.5m | 559m |
GICS Industry Indices
Among the 11 industry indices, 4 registered an advance for the session, the remaining 7 lost ground.
The best performing index was Healthcare (XHJ), which added 250.1 points (3.02%) to 8522.2 points. Think of it today as 'CSL and the minnows'; you can do the sums as to CSL's dominace of the market cap of the index, by seeing that its 6% rise combine wit hsome very ordinary other moves and still resulted in a 3% rise.
The 8 stocks which make up the index traded a total of 10.12m units; 3 index components rose, with rising volume amounting to 5.21m shares, while the 5 decliners had volume traded totalling 4.91m units. The major percentage gainers within the index were
- CSL Limited (CSL), +$2.12 (6.06%) to $37.12 on volume of 2.7m shares;
- Ansell Limited (ANN), +$0.10 (1.05%) to $9.62 on volume of 367.2 thousand shares; and
- ResMed Inc. (RMD), +$0.02 (0.56%) to $3.61 on volume of 2.1m shares.
Second in the index leadership stakes was Information Technology (XIJ), which gained 5.8 points (1.19%) to 494 points. There are only twostocks in the index and they traded a total of 920 thousand units.
The lone rising index component was Computershare Limited (CPU), +$0.11 (1.29%) to $8.63 on volume of 618.9 thousand shares.
The bronze medal for today goes to Property Trusts (XPJ), which climbed 13.2 points (1.06%) to 1257.3 points. The 21 stocks which make up the index traded a total of 138.75m units; 11 index components rose, with rising volume amounting to 106.43m shares, while the 7 decliners had volume traded totalling 23.39m units. The major percentage gainers within the index were
- Macquarie Countrywide Trust (MCW), +$0.07 (8.86%) to $0.86 on volume of 24.9m shares;
- Dexus Property Group (DXS), +$0.07 (5.79%) to $1.28 on volume of 6.5m shares;
- Stockland (SGP), +$0.20 (4.58%) to $4.57 on volume of 7.5m shares;
- GPT Group (GPT), +$0.06 (3.65%) to $1.56 on volume of 20.5m shares; and
- Macquarie DDR Trust (MDT), +$0.01 (3.45%) to $0.30 on volume of 7.5m shares.
The worst-performed index for the session was Energy (XEJ), which dipped 744.5 points (4.18%) to 17070.3 points as Crude Oil continues to claw the eyes out of latecomers.
The 17 stocks which make up the index traded a total of 44.13m units; The 14 decliners had volume traded totalling 37.85m units, and 3 index components rose, with rising volume amounting to 6.29m shares, The major percentage decliners within the index were
- Oil Search Limited (OSH), -$0.44 (8.09%) to $5.00 on volume of 7.3m shares;
- Paladin Energy Limited (PDN), -$0.47 (8.09%) to $5.34 on volume of 7.1m shares;
- Santos Limited (STO), -$1.25 (6.51%) to $17.95 on volume of 2.4m shares;
- Queensland Gas Company Limited (QGC), -$0.27 (5.97%) to $4.25 on volume of 2m shares; and
- Beach Petroleum Limited (BPT), -$0.07 (5.42%) to $1.14 on volume of 4.2m shares.
Just missing out on the wooden spoon was Materials (XMJ), which slid 351.6 points (2.56%) to 13374.6 points. The 42 stocks which make up the index traded a total of 161.4m units; The 34 decliners had volume traded totalling 144.16m units, and 8 index components rose, with rising volume amounting to 17.24m shares, The major percentage decliners within the index were
- Kagara Zinc Limited (KZL), -$0.39 (12.19%) to $2.81 on volume of 2.1m shares;
- Lynas Corporation Limited (LYC), -$0.14 (11.07%) to $1.09 on volume of 6.2m shares;
- PanAust Ltd (PNA), -$0.09 (9.84%) to $0.83 on volume of 8.4m shares;
- Platinum Australia Limited (PLA), -$0.23 (8.75%) to $2.40 on volume of 929.6 thousand shares; and
- Macarthur Coal Limited (MCC), -$1.39 (8.32%) to $15.31 on volume of 1.9m shares.
Third-to-last amongst the sector indices was Financials ex Property Trusts (XXJ), which slid 47.9 points (0.98%) to 4846.4 points. The 30 stocks which make up the index traded a total of 61.41m units; The 18 decliners had volume traded totalling 41.39m units, and 11 index components rose, with rising volume amounting to 20.02m shares, The major percentage decliners within the index were
- Tower Australia Group Limited (TAL), -$0.14 (5%) to $2.66 on volume of 201.3 thousand shares;
- Bank Of Queensland Limited. (BOQ), -$0.58 (4.16%) to $13.36 on volume of 276.2 thousand shares;
- Babcock & Brown Limited (BNB), -$0.27 (4.11%) to $6.30 on volume of 2.8m shares;
- Macquarie Group Limited (MQG), -$1.84 (3.85%) to $45.91 on volume of 2m shares; and
- ASX Limited (ASX), -$0.88 (2.82%) to $30.31 on volume of 493.7 thousand shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XHJ | Healthcare | 8522.2 | 250.1 | 3.02 | 10m |
| XIJ | Information Technology | 494 | 5.8 | 1.19 | 1m |
| XPJ | Property Trusts | 1257.3 | 13.2 | 1.06 | 139m |
| XSJ | Consumer Staples | 6828.1 | 29.9 | 0.44 | 25m |
| XTJ | Telecommunications | 1459.1 | -2.9 | -0.2 | 20m |
| XDJ | Consumer Discretionary | 1577.1 | -5.9 | -0.37 | 32m |
| XUJ | Utilities | 5290.2 | -25.8 | -0.49 | 23m |
| XNJ | Industrials | 4413.3 | -39.6 | -0.89 | 90m |
| XXJ | Financials ex Property Trusts | 4846.4 | -47.9 | -0.98 | 61m |
| XMJ | Materials | 13374.6 | -351.6 | -2.56 | 161m |
| XEJ | Energy | 17070.3 | -744.5 | -4.18 | 44m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| OXR | Oxiana Limited | 1.96 | -0.09 | -4.39 | 31.6m |
| MCW | Macquarie Countrywide Trust | 0.86 | 0.07 | 8.86 | 24.9m |
| MAP | Macquarie Airports | 2.45 | -0.17 | -6.49 | 22.6m |
| GPT | GPT Group | 1.56 | 0.06 | 3.65 | 20.5m |
| LGL | Lihir Gold Limited | 3.02 | -0.14 | -4.43 | 19.9m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| UOS | United Overseas Australia Limited | 0.23 | 0.05 | 24.32 | 5k |
| VRL | Village Roadshow Limited | 1.90 | 0.30 | 18.75 | 0.7k |
| AIO | Asciano Group | 3.38 | 0.48 | 16.55 | 6.3m |
| AXQ | Allco Max Securities And Mortgage Trust | 0.15 | 0.02 | 15.38 | 226.9k |
| PPX | Paperlinx Limited | 1.90 | 0.24 | 14.11 | 3.6m |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| CCP | Credit Corp Group Limited | 0.67 | -0.11 | -14.1 | 345.6k |
| ALB | Albidon Limited | 2.60 | -0.40 | -13.33 | 564.8k |
| MLX | Metals X Limited | 0.31 | -0.05 | -12.86 | 2.7m |
| KZL | Kagara Zinc Limited | 2.81 | -0.39 | -12.19 | 2.1m |
| LYC | Lynas Corporation Limited | 1.09 | -0.14 | -11.07 | 6.2m |
