Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.
The birth pangs of the new site continue, to use Rumsfeldian language. Continuing the midwifery metaphor, the mother is pushing for all she's worth, and doing that silly breathing that some Yank invented back when they decided that pregnancy and birth were medical conditions that required tens of thousands of dollars of ante- and post-natal interference (which opened the door to eventual State interference in pregnancy (do you know it is illegal in France to be pregnant and fail to attend your monthly appointments with a State functionary?).
Anyway... the mother (that would be me... guuuuhhh, what an awful mental picture) has her (his) feet in the stirrups, and the one thing that was impeding the delivery of the mentat version of the Kwisatz Haderach is within an hour of being resolved (so I am told by PayPal). At that point, the only thing left to accomplish in order to truly dominate the investment research battle space, is to get Mav on board.
Major Market Indices
The broad market - the All Ordinaries (XAO) - rose strongly, registering a gain of 56.5 points (1.11%), finishing at 5144.3 points. The index hit an intraday high of 5160.9 at 11:08 am, while the low for the day was 5087.8 - set at 'open o'clock'. The 11:18 a.m. high was just a single point above the level set just before10:45 - in other words, the entire day's range was pretty much set in the first 45 minutes.
Total volume traded on the ASX was 1.18bn units, 10.1% above its 10-day average. The ASX's daily listing of all stocks included 1288 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 568 issues rose, with volume in rising issues totalling 641.2m units; decliners numbered 431 counters, and between them they traded aggregate declining volume of 421.2m shares.
A couple of readers have asked why I point out the number of stocks that had non-zero trade volume. It's because there is a qualitative difference between a stock that trades and finishes unchanged vis à vis a stock that sits there doing nothing at all for the entire session. The former indicates tension between buyers and sellers - the latter indicates a complete lack of interest from all concerned. So it matters to those who study market depth to be able to distinguish between the two groups.
Of the 493 All Ordinaries components, 254 rose while 158 fell. Volume was tilted in favour of the gainers by a margin of 1.5:1, with 502.53m shares traded in gainers while 335.47m 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 56.2 points (1.12%), closing out the session at 5067.4 points.
| Name | Close | +/-(%) |
|---|---|---|
| All Ordinaries | 5144.30 | 56.50 (1.1%) |
| ASX 20 | 2873.00 | 42.10 (1.5%) |
| ASX 50 | 4960.40 | 59.40 (1.2%) |
| ASX 100 | 4108.80 | 48.80 (1.2%) |
| ASX 200 | 5067.40 | 56.20 (1.1%) |
| ASX 300 | 5061.60 | 56.40 (1.1%) |
| ASX Mid-Cap 50 | 5049.90 | 56.70 (1.1%) |
| ASX Small Ordinaries | 2881.30 | 13.20 (0.5%) |
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - performed solidly, in moving up 42.1 points (1.49%), closing out the session at 2873 points. Fifteen of the 20 index components finished to the upside, and the rest fell (i.e., none were unchanged). Total volume in the index was 156.04m units; rising volume was 83.13m shares, while the 5 decliners had volume traded totalling 72.91m units. The major percentage gainers within the index were
- Westfield Group (WDC), +$1.03 (6.4%) to $17.13 on volume of 7.4 million shares;
- AMP (AMP), +$0.37 (5.77%) to $6.78 on volume of 8.2 million shares;
- Stockland (SGP), +$0.25 (5.08%) to $5.17 on volume of 7.4 million shares;
- Woodside Petroleum (WPL), +$2.63 (4.5%) to $61.05 on volume of 3.2 million shares; and
- Woolworths (WOW), +$0.66 (2.41%) to $28.07 on volume of 3.2 million shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- Telstra Corporation (TLS), -$0.07 (1.63%) to $4.23 on volume of 43.4 million shares;
- Commonwealth Bank Of Australia (CBA), -$0.51 (1.23%) to $41.12 on volume of 5.2 million shares;
- Suncorp-Metway (SUN), -$0.11 (0.93%) to $11.78 on volume of 3.8 million shares;
- Foster's Group (FGL), -$0.05 (0.9%) to $5.53 on volume of 17.7 million shares; and
- Wesfarmers (WES), -$0.09 (0.28%) to $31.56 on volume of 2.8 million shares.
At the other end of the market-cap index spectrum - within the ASX Small Ordinaries (XSO). The small end of the market significantly underperformed its large-cap counterpart. The Small Ords advanced by just under half a percent, adding 13.2 points (0.46%), closing out the session at 2881.3 points. 100 index components finished to the upside, and of the rest, 68 closed lower for the session.
The index components traded a total of 289.24m units: volume in the 100 gainers totalling 162.28m shares, with trade totalling 98.67m units in the index's 68 declining components. The major percentage gainers within the index were- Babcock & Brown Communities Group (BBC), +$0.10 (27.54%) to $0.44 on volume of 4.7 million shares;
- Centro Properties Group (CNP), +$0.03 (18.75%) to $0.19 on volume of 29.3 million shares;
- Resolute Mining (RSG), +$0.17 (11.91%) to $1.55 on volume of 281.6 thousand shares;
- Independence Group NL (IGO), +$0.27 (9.03%) to $3.26 on volume of 710.9 thousand shares; and
- Stw Communications Group (SGN), +$0.11 (9.02%) to $1.33 on volume of 104.5 thousand shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- GRD (GRD), -$0.09 (11.54%) to $0.69 on volume of 1.1 million shares;
- Mineral Deposits (MDL), -$0.06 (11.32%) to $0.47 on volume of 1.3 million shares;
- Macarthur Coal (MCC), -$1.65 (11.3%) to $12.95 on volume of 3.8 million shares;
- Sundance Resources (SDL), -$0.03 (9.26%) to $0.25 on volume of 23.3 million shares; and
- IOOF Holdings (IFL), -$0.48 (8.18%) to $5.39 on volume of 175.1 thousand shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 5144.3 | 56.5 | 1.11 | 898.7m |
| XFL | ASX 50 | 4960.4 | 59.4 | 1.21 | 317.9m |
| XJO | ASX 200 | 5067.4 | 56.2 | 1.12 | 701m |
| XKO | ASX 300 | 5061.6 | 56.4 | 1.13 | 799.5m |
| XMD | ASX Mid-Cap 50 | 5049.9 | 56.7 | 1.14 | 192.3m |
| XSO | ASX Small Ordinaries | 2881.3 | 13.2 | 0.46 | 289.2m |
| XTL | ASX 20 | 2873 | 42.1 | 1.49 | 156m |
| XTO | ASX 100 | 4108.8 | 48.8 | 1.2 | 510.3m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 15 | 64 | 115 | 254 | 100 | 568 |
| Declines | 5 | 32 | 71 | 158 | 68 | 431 |
| Advancing Volume | 83.1m | 314.6m | 406.3m | 502.5m | 162.3m | 641.2m |
| Declining Volume | 72.9m | 218.3m | 303.5m | 335.5m | 98.7m | 421.2m |
GICS Industry Indices
Among the 11 industry indices, 8 registered an advance for the session, the remaining 3 lost ground.
The best performing index was Property Trusts (XPJ), which added 45 points (3.24%) to 1435.4 points. The 21 stocks which make up the index traded a total of 145.04m units; 12 index components rose, with rising volume amounting to 82.16m shares, while the 7 decliners had volume traded totalling 50.38m units. The major percentage gainers within the index were
- Centro Properties Group (CNP), +$0.03 (18.75%) to $0.19 on volume of 29.3 million shares;
- Westfield Group (WDC), +$1.03 (6.4%) to $17.13 on volume of 7.4 million shares;
- APN/UKA European Retail Property Group (AEZ), +$0.02 (5.77%) to $0.28 on volume of 730.4 thousand shares;
- Valad Property Group (VPG), +$0.03 (5.32%) to $0.50 on volume of 9.5 million shares; and
- Stockland (SGP), +$0.25 (5.08%) to $5.17 on volume of 7.4 million shares.
Second in the index leadership stakes was Energy (XEJ), which gained 515.9 points (2.89%) to 18392.3 points. The 17 stocks which make up the index traded a total of 38.04m units; 12 index components rose, with rising volume amounting to 26.13m shares, while the 4 decliners had volume traded totalling 10.28m units. The major percentage gainers within the index were
- Paladin Energy (PDN), +$0.34 (6.39%) to $5.66 on volume of 4.7 million shares;
- Woodside Petroleum (WPL), +$2.63 (4.5%) to $61.05 on volume of 3.2 million shares;
- Santos (STO), +$0.87 (4.48%) to $20.27 on volume of 2.6 million shares;
- Worleyparsons (WOR), +$1.40 (3.91%) to $37.20 on volume of 611.6 thousand shares; and
- Roc Oil Company (ROC), +$0.04 (3.15%) to $1.15 on volume of 965.9 thousand shares.
The bronze medal for today goes to Utilities (XUJ), which climbed 119.2 points (2.29%) to 5317.5 points. The 10 stocks which make up the index traded a total of 31.09m units; 4 index components rose, with rising volume amounting to 19.13m shares, while the 3 decliners had volume traded totalling 5.54m units. The major percentage gainers within the index were
- AGL Energy (AGK), +$0.73 (5.07%) to $15.13 on volume of 1.5 million shares;
- APA Group (APA), +$0.16 (4.64%) to $3.61 on volume of 944.2 thousand shares;
- Babcock & Brown Infrastructure Group (BBI), +$0.02 (2.63%) to $0.59 on volume of 14.6 million shares; and
- Sp Ausnet (SPN), +$0.01 (0.44%) to $1.15 on volume of 2.1 million shares.
The worst-performed index for the session was Telecommunications (XTJ), which dipped 22 points (1.49%) to 1451.4 points. The 3 stocks which make up the index traded a total of 51.23m units; all of them declined -
- Telstra Corporation (TLS), -$0.07 (1.63%) to $4.23 on volume of 43.4 million shares;
- Singapore Telecommunications (SGT), -$0.03 (1.05%) to $2.84 on volume of 1.2 million shares; and
- Telecom Corporation Of New Zealand (TEL), -$0.01 (0.38%) to $2.59 on volume of 6.7 million shares.
Just missing out on the wooden spoon was Industrials (XNJ), which slid 28.4 points (0.59%) to 4784.9 points. The 32 stocks which make up the index traded a total of 151.61m units; The 12 decliners had volume traded totalling 45.46m units, and 19 index components rose, with rising volume amounting to 105.94m shares, The major percentage decliners within the index were
- Qantas Airways (QAN), -$0.29 (7.82%) to $3.42 on volume of 11.2 million shares;
- Toll Holdings (TOL), -$0.27 (3.75%) to $6.93 on volume of 5.4 million shares;
- Transurban Group (TCL), -$0.13 (2.43%) to $5.23 on volume of 4.3 million shares;
- Boart Longyear (BLY), -$0.05 (2.25%) to $1.96 on volume of 3.3 million shares; and
- Hills Industries (HIL), -$0.07 (1.65%) to $4.16 on volume of 214.5 thousand shares.
Third-to-last amongst the sector indices was Information Technology (XIJ), which slid 1.1 points (0.21%) to 514.3 points. The 2 stocks which make up the index traded a total of 1.5m units; CPU fell, and traded 1.03m units, and volume in IRE (which rose) was 0.47m shares,
- Computershare (CPU), -$0.04 (0.44%) to $8.97 on volume of 1 million shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XPJ | Property Trusts | 1435.4 | 45 | 3.24 | 145m |
| XEJ | Energy | 18392.3 | 515.9 | 2.89 | 38m |
| XUJ | Utilities | 5317.5 | 119.2 | 2.29 | 31m |
| XMJ | Materials | 14011.9 | 214 | 1.55 | 146m |
| XHJ | Healthcare | 9365.1 | 111 | 1.2 | 10m |
| XSJ | Consumer Staples | 7330.1 | 67.8 | 0.93 | 43m |
| XXJ | Financials ex Property Trusts | 4860.2 | 34.6 | 0.72 | 83m |
| XDJ | Consumer Discretionary | 1686.9 | 3 | 0.18 | 51m |
| XIJ | Information Technology | 514.3 | -1.1 | -0.21 | 1m |
| XNJ | Industrials | 4784.9 | -28.4 | -0.59 | 152m |
| XTJ | Telecommunications | 1451.4 | -22 | -1.49 | 51m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| VBA | Virgin Blue Holdings Limited | 0.55 | 0.05 | 9 | 51.3m |
| TLS | Telstra Corporation Limited. | 4.23 | -0.07 | -1.63 | 43.4m |
| CNP | Centro Properties Group | 0.19 | 0.03 | 18.75 | 29.3m |
| MIG | Macquarie Infrastructure Group | 2.13 | 0.01 | 0.47 | 25.5m |
| ILF | ING Real Estate Community Living Group | 0.37 | 0.01 | 1.37 | 25.2m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| BBC | Babcock & Brown Communities Group | 0.44 | 0.10 | 27.54 | 4.7m |
| CNP | Centro Properties Group | 0.19 | 0.03 | 18.75 | 29.3m |
| OAK | Oaks Hotels & Resorts Limited | 1.00 | 0.15 | 17.65 | 63.5k |
| ARH | Australasian Resources Limited | 1.38 | 0.17 | 13.58 | 170.3k |
| RSG | Resolute Mining Limited | 1.55 | 0.17 | 11.91 | 281.6k |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| ARR | Arasor International Limited | 0.11 | -0.02 | -12.5 | 879.1k |
| VRLPA | Village Roadshow (PA) | 1.45 | -0.20 | -12.12 | 1.3m |
| GRD | GRD Limited | 0.69 | -0.09 | -11.54 | 1.1m |
| CFU | Ceramic Fuel Cells Limited | 0.43 | -0.06 | -11.34 | 144.4k |
| MDL | Mineral Deposits Limited | 0.47 | -0.06 | -11.32 | 1.3m |
