Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.
Well, there's a fine How d'you do... the US markets are kind enough to rocket skywards by a couple of percent ,and a lousy 0.7% is all the thanks that the Strayan market has to offer. Ingrates.
I hardly think this is the result of an outbreak of sanity amongst the punters - the market is hostage to the technicals atthe moment, as evidenced by its tendency to wander from Pickens to Marchesanis (i.e., to hit resistance and support at multiples of 25).
It's a tad boring; imagine if Bruce Doull wore number 25 (or Jezza was playing centre half back) and the bulk of the game was 'Picken, sends the ball forward... cut off by Doull. Doull now, looking for Maclure... but Picken shuts the gate. Picken ignores the lead from Barham on the wing, favouring the corridor... poorly directed and Doull again takes the safe chest mark. Doull now - trademark headband, looking again for Maclure... PICKEN!!!! What a screamer!... and so on and so forth).
In other words, the market is playing kick to kick, and the two number 25s haven't waxed anybody.
Major Market Indices
The broad market - the All Ordinaries (XAO) - advanced modestly, rising 29.9 points (0.60%), finishing at 4977.4 points (4975-ish). The index hit an intraday high of 5003 (5000-ish, or "200 Pickens and a Magro") at 10:30 am, while the low for the day was 4942.3 - set at 10:02 am Sydney time (yet again, this idiotic relic of the opening process mars the data - the index low once all stocks were trading was about 4975 and occurred at about 10:50 a.m.).
Total volume traded on the ASX was 1.42 billion units, 5.7% below its 10-day average. The ASX's daily listing of all stocks included 1342 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 598 issues rose, with volume in rising issues totalling 882.4 million units. Conversely (or even contrariwise), 452 stocks were dragged below the Plimsoll line, with aggregate volume traded of 383.5 million shares.
Of the 495 All Ordinaries components, 272 rose while 166 fell. Volume was tilted in favour of the gainers by a margin of 2.3:1, with 584.65 million shares traded in gainers while 258.79 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 30.4 points (0.62%), closing out the session at 4901 points.
| Name | Close | +/-(%) |
|---|---|---|
| All Ordinaries | 4977.40 | 29.90 (0.6%) |
| ASX 50 | 4804.30 | 35.00 (0.7%) |
| ASX 200 | 4901.00 | 30.40 (0.6%) |
| ASX 300 | 4898.50 | 30.00 (0.6%) |
| ASX Mid-Cap 50 | 4785.10 | 15.70 (0.3%) |
| ASX Small Ordinaries | 2846.00 | 2.40 (0.1%) |
| ASX 20 | 2755.60 | 19.90 (0.7%) |
| ASX 100 | 3967.40 | 26.70 (0.7%) |
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - advanced by under a percent, adding 19.9 points (0.73%), closing out the session at 2755.6 points.
The 20 stocks which make up the index traded a total of 137.49 million units; 15 index components rose, with rising volume amounting to 89.4 million shares, while the 5 decliners had volume traded totalling 48.09 million units. The major percentage gainers within the index were
- Stockland (SGP), +$0.25 (6.07%) to $4.37 on volume of 14.5 million shares;
- St George Bank Limited (SGB), +$1.31 (5.13%) to $26.85 on volume of 1.6 million shares;
- Westpac Banking Corporation (WBC), +$0.98 (5.04%) to $20.41 on volume of 9.2 million shares;
- Westfield Group (WDC), +$0.68 (4.79%) to $14.89 on volume of 10.6 million shares; and
- AMP Limited (AMP), +$0.28 (4.44%) to $6.58 on volume of 5 million shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- BHP Billiton Limited (BHP), -$1.31 (3.33%) to $37.98 on volume of 14.9 million shares;
- Rio Tinto Limited (RIO), -$3.44 (2.83%) to $118.00 on volume of 1.3 million shares;
- Woodside Petroleum Limited (WPL), -$0.78 (1.31%) to $58.77 on volume of 1.7 million shares;
- Wesfarmers Limited (WES), -$0.32 (0.99%) to $32.10 on volume of 1.6 million shares; and
- Telstra Corporation Limited. (TLS), -$0.01 (0.23%) to $4.26 on volume of 28.5 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 2.4 points (0.08%), closing out the session at 2846 points.
Among the stocks that make up the Small Caps index, 108 index components finished to the upside, and of the rest, 73 closed lower for the session.
The 195 stocks which make up the index traded a total of 219.01 million units: volume in the gainers was 128.25 million shares, with trade totalling 74.57 million units in the index's declining components. The major percentage gainers within the index were- Galileo Japan Trust (GJT), +$0.06 (22.64%) to $0.33 on volume of 255.4 thousand shares;
- Australian Wealth Mgt (AUW), +$0.14 (11.64%) to $1.30 on volume of 1.6 million shares;
- Babcock & Brown Power (BBP), +$0.07 (10.83%) to $0.67 on volume of 3.2 million shares;
- APN/UKA European Retail Property Group (AEZ), +$0.03 (10.64%) to $0.26 on volume of 926.9 thousand shares; and
- Boom Logistics Limited (BOL), +$0.07 (10.16%) to $0.71 on volume of 472.4 thousand shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Record Realty (RRT), -$0 (7.27%) to $0.05 on volume of 165.1 thousand shares;
- Aquarius Platinum Limited (AQP), -$1.06 (7.19%) to $13.69 on volume of 510.8 thousand shares;
- Credit Corp Group Limited (CCP), -$0.06 (7.06%) to $0.79 on volume of 160.5 thousand shares;
- Kagara Zinc Limited (KZL), -$0.24 (6.94%) to $3.22 on volume of 1.5 million shares; and
- Minara Resources Limited (MRE), -$0.14 (6.48%) to $2.02 on volume of 4.5 million shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 4977.4 | 29.9 | 0.6 | 883.9m |
| XFL | ASX 50 | 4804.3 | 35 | 0.73 | 339.7m |
| XJO | ASX 200 | 4901 | 30.4 | 0.62 | 744.8m |
| XKO | ASX 300 | 4898.5 | 30 | 0.62 | 795.1m |
| XMD | ASX Mid-Cap 50 | 4785.1 | 15.7 | 0.33 | 236.4m |
| XSO | ASX Small Ordinaries | 2846 | 2.4 | 0.08 | 219m |
| XTL | ASX 20 | 2755.6 | 19.9 | 0.73 | 137.5m |
| XTO | ASX 100 | 3967.4 | 26.7 | 0.68 | 576.1m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 15 | 69 | 127 | 272 | 108 | 598 |
| Declines | 5 | 30 | 66 | 166 | 73 | 452 |
| Advancing Volume | 89.4m | 413.9m | 515.1m | 584.7m | 128.3m | 882.4 million |
| Declining Volume | 48.1m | 149.2m | 204.6m | 258.8m | 74.6m | 383.5 million |
GICS Industry Indices
Among the 11 industry indices, 7 registered an advance for the session, the remaining 4 lost ground.
The best performing index was Property Trusts (XPJ), which added 66.8 points (5.67%) to 1244.1 points. The 21 stocks which make up the index traded a total of 257.52 million units; 21 index components rose, with rising volume amounting to 257.52 million shares, while sole declining stock traded 0 million units. The major percentage gainers within the index were
- APN/UKA European Retail Property Group (AEZ), +$0.03 (10.64%) to $0.26 on volume of 926.9 thousand shares;
- ING Office Fund (IOF), +$0.10 (9.17%) to $1.19 on volume of 3 million shares;
- Valad Property Group (VPG), +$0.05 (8.91%) to $0.55 on volume of 36.8 million shares;
- GPT Group (GPT), +$0.11 (7.91%) to $1.50 on volume of 33.7 million shares; and
- Mirvac Group (MGR), +$0.14 (6.64%) to $2.25 on volume of 10.6 million shares.
Second in the index leadership stakes was Financials ex Property Trusts (XXJ), which gained 165.9 points (3.51%) to 4894.3 points. The 30 stocks which make up the index traded a total of 84.89 million units; 27 index components rose, with rising volume amounting to 83.33 million shares, while the 2 decliners had volume traded totalling 1.56 million units. The major percentage gainers within the index were
- Australian Wealth Mgt (AUW), +$0.14 (11.64%) to $1.30 on volume of 1.6 million shares;
- Allco Finance Group Limited (AFG), +$0.03 (5.95%) to $0.45 on volume of 5.4 million shares;
- Henderson Group PLC (HGI), +$0.12 (5.58%) to $2.27 on volume of 1.8 million shares;
- Bank Of Queensland Limited. (BOQ), +$0.68 (5.14%) to $13.92 on volume of 355 thousand shares; and
- St George Bank Limited (SGB), +$1.31 (5.13%) to $26.85 on volume of 1.6 million shares.
The bronze medal for today goes to Healthcare (XHJ), which climbed 200 points (2.48%) to 8272.1 points. The 8 stocks which make up the index traded a total of 10.58 million units; 5 index components rose, with rising volume amounting to 4.07 million shares, while the 3 decliners had volume traded totalling 6.51 million units. The major percentage gainers within the index were
- Healthscope Limited (HSP), +$0.25 (6.01%) to $4.41 on volume of 702.5 thousand shares;
- Cochlear Limited (COH), +$1.70 (3.85%) to $45.90 on volume of 371.6 thousand shares;
- CSL Limited (CSL), +$1.23 (3.64%) to $35.00 on volume of 1.7 million shares;
- Ramsay Health Care Limited (RHC), +$0.11 (1.23%) to $9.07 on volume of 493.4 thousand shares; and
- Ansell Limited (ANN), +$0.03 (0.32%) to $9.50 on volume of 819.9 thousand shares.
The worst-performed index for the session was Materials (XMJ) - with Crude down again and metals also modestly weaker. XMJ dipped 435.3 points (3.07%) to 13726.2 points. The 42 stocks which make up the index traded a total of 133.31 million units; The 25 decliners had volume traded totalling 77.63 million units, and 15 index components rose, with rising volume amounting to 33.01 million shares, The major percentage decliners within the index were
- Aquarius Platinum Limited (AQP), -$1.06 (7.19%) to $13.69 on volume of 510.8 thousand shares;
- Kagara Zinc Limited (KZL), -$0.24 (6.94%) to $3.22 on volume of 1.5 million shares;
- Minara Resources Limited (MRE), -$0.14 (6.48%) to $2.02 on volume of 4.5 million shares;
- Mincor Resources NL (MCR), -$0.13 (5.96%) to $2.05 on volume of 1.2 million shares; and
- Western Areas NL (WSA), -$0.43 (5.12%) to $7.97 on volume of 1.1 million shares.
Just missing out on the wooden spoon was Energy (XEJ), which slid 284.7 points (1.57%) to 17814.8 points. The 17 stocks which make up the index traded a total of 39.14 million units; The 14 decliners had volume traded totalling 29.74 million units, and 2 index components rose, with rising volume amounting to 8.5 million shares, The major percentage decliners within the index were
- Paladin Energy Limited (PDN), -$0.52 (8.19%) to $5.83 on volume of 5.8 million shares;
- Queensland Gas Company Limited (QGC), -$0.31 (6.42%) to $4.52 on volume of 2.1 million shares;
- Australian Worldwide Exploration Limited (AWE), -$0.18 (4.58%) to $3.75 on volume of 953 thousand shares;
- Nexus Energy Limited (NXS), -$0.06 (4.14%) to $1.27 on volume of 2.8 million shares; and
- Centennial Coal Company Limited (CEY), -$0.22 (4.13%) to $5.11 on volume of 2.7 million shares.
Third-to-last amongst the sector indices was Information Technology (XIJ), which slid 2.6 points (0.53%) to 488.2 points. There are only 2 stocks in this index, which is absolutely dominated - marlet cap wise - by Computershare (which is really a Financial, if you ask me). The index traded a total of 1.63 million units; IRE traded 0.29 million shares, while the index gainer was
- Computershare Limited (CPU), -$0.07 (0.81%) to $8.53 on volume of 1.3 million shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XPJ | Property Trusts | 1244.1 | 66.8 | 5.67 | 258m |
| XXJ | Financials ex Property Trusts | 4894.3 | 165.9 | 3.51 | 85m |
| XHJ | Healthcare | 8272.1 | 200 | 2.48 | 11m |
| XDJ | Consumer Discretionary | 1583 | 24.8 | 1.59 | 47m |
| XNJ | Industrials | 4452.9 | 62.8 | 1.43 | 85m |
| XUJ | Utilities | 5316 | 75 | 1.43 | 20m |
| XSJ | Consumer Staples | 6798.2 | 81.7 | 1.22 | 33m |
| XTJ | Telecommunications | 1462 | -1.9 | -0.13 | 33m |
| XIJ | Information Technology | 488.2 | -2.6 | -0.53 | 2m |
| XEJ | Energy | 17814.8 | -284.7 | -1.57 | 39m |
| XMJ | Materials | 13726.2 | -435.3 | -3.07 | 133m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| VPG | Valad Property Group | 0.55 | 0.05 | 8.91 | 36.8m |
| GPT | GPT Group | 1.50 | 0.11 | 7.91 | 33.7m |
| TLS | Telstra Corporation Limited. | 4.26 | -0.01 | -0.23 | 28.5m |
| AIM | Aim Resources Limited | 0.03 | -0.02 | -31.25 | 25.1m |
| GMG | Goodman Group | 2.54 | 0.07 | 2.83 | 23.8m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| GJT | Galileo Japan Trust | 0.33 | 0.06 | 22.64 | 255.4k |
| MCU | Mitchell Communication Group Limited | 0.56 | 0.10 | 21.74 | 217.6k |
| GPM | GEO Property Group | 0.23 | 0.04 | 21.05 | 458.2k |
| MRZ | Mirvac Real Estate Investment Trust | 0.49 | 0.06 | 14.12 | 154.3k |
| MMS | McMillan Shakespeare Limited | 2.40 | 0.29 | 13.74 | 9.5k |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| AIM | Aim Resources Limited | 0.03 | -0.02 | -31.25 | 25.1m |
| VRL | Village Roadshow Limited | 1.60 | -0.30 | -15.79 | 1.4m |
| APD | APN Property Group Limited | 0.42 | -0.05 | -10.64 | 355.9k |
| AEP | Allco Equity Partners Limited. | 1.60 | -0.19 | -10.61 | 11.3k |
| HLG | Hedley Leisure and Gaming Property Fund | 0.49 | -0.06 | -10.09 | 6.1k |
