Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.
Just when you think you've managed to avoid the onset of senile dementia...
For someone so dashing and handsome, your beloved GT is quite the bumbling Inspector Clouseau-type from time to time. (Which reminds me - how do they do the funny accent when the translate the Pink Panther into French?).
Anyhow - as I say... dashing and handsome - check. Idiot - check.
I had to do some running around this morning - last minute frenzied activity in order to fix a screwup in the webhosting arrangement for the new subscription offering, which I am very keen to promulgate before InvestorWeb closes its doors for the last time this Friday.
We decided some time ago to completely forego a French bank account:the banks here are absolute thieves, and the fees are absolute rip-offs... it's cheaper to keep an Australian account and get raped on the exchange rate and a foreign ATM fee.
Anyhow - no Froggish bank account. My errand, then, necessitated using Western Union (the most expensive cash transfer system in the world, except perhaps the mechanism of just handing cash to a stranger and hoping they are going to Australia). The purpose was to wire some Euros to the Ginger Giant in order for him to pay a bill.
Anyhow. So I drop into the post office in the next village along (Cunlhat, which is pronounced "Ki-yah" where the "Ki" is pronounced like pie). There I am told that to do a WU transfer you have to go to Courpiere (20km away, roughly). So off I trot, and I wire the dough to the Ginger Giant, all the better for him to PayPal it to the webhost.
It's all good now, thanks be to Crom and Marduk.
But more important is what happened after I got back to Schloss Rant: see, I left the house just before 8 a.m., hoping to get the transfer done so that the Ginger Giant could have the spondulix in his hot hands before close of business in Straya. Fat chance, as it turned out - thanks largely to the required trip to Courpiere, coupled with a postal operator who was having trouble reading my passport.
Anyway... I got back to hearth, hame and cats - just before 9 a.m.
What happens at (or just before) 9 a.m. French time? Here's a hint... you're reading it. And I am writing it - at noon.
Major Market Indices
The broad market - the All Ordinaries (XAO) - dipped reasonably hard, registering a loss of 99.8 points (1.98%), finishing at 4943.7 points. The index hit an intraday high of 5043.5 at the open (a vestige of the prior close, to be sure), while the low for the day was 4939.8 - set at close-o'clock.
Total volume traded on the ASX was weak at 966.8m units, 12.4% below its 10-day average. The ASX's daily listing of all stocks included 1291 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 295 issues rose, with volume in rising issues totalling 191.1m units; decliners numbered 698 counters, and between them they traded aggregate declining volume of 712.7m shares.
Of the 494 All Ordinaries components, 117 rose while 287 fell. Volume was tilted in favour of the losers by a margin of 4.2:1, with 135.53m shares traded in gainers while 570.32m 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) - dipped pretty savagely,rather savagely, losing 104.2 points (2.09%), closing out the session at 4880.8 points.
| Name | Close | +/-(%) |
|---|---|---|
| All Ordinaries | 4943.70 | -99.80 (2.0%) |
| ASX 20 | 2770.90 | -65.00 (2.3%) |
| ASX 50 | 4793.90 | -110.40 (2.3%) |
| ASX 100 | 3958.10 | -85.50 (2.1%) |
| ASX 200 | 4880.80 | -104.20 (2.1%) |
| ASX 300 | 4874.30 | -103.10 (2.1%) |
| ASX Mid-Cap 50 | 4769.20 | -59.80 (1.2%) |
| ASX Small Ordinaries | 2766.00 | -47.50 (1.7%) |
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - was taken to the woodshed somewhat, sliding 65 points (2.29%), closing out the session at 2770.9 points.
Among the 20 big guns, 3 index components finished to the upside, and of the rest, 17 closed lower for the session. The 20 stocks which make up the index traded a total of 121.48m units; 3 index components rose, with rising volume amounting to 16.55m shares, while the 17 decliners had volume traded totalling 104.92m units. Seems like punters think that the only thing folks will have money left to buy, are food, beer and blood products. That's an odd assortment.
- Woolworths (WOW), +$0.14 (0.52%) to $27.23 on volume of 1.4 million shares;
- Foster's Group (FGL), +$0.02 (0.37%) to $5.38 on volume of 12.3 million shares; and
- CSL (CSL), +$0.01 (0.03%) to $36.51 on volume of 2.9 million shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- AMP (AMP), -$0.31 (4.59%) to $6.44 on volume of 6.6 million shares;
- BHP Billiton (BHP), -$1.51 (3.91%) to $37.09 on volume of 10.7 million shares;
- Macquarie Group (MQG), -$1.96 (3.87%) to $48.66 on volume of 2.7 million shares;
- Rio Tinto (RIO), -$3.77 (3.26%) to $111.93 on volume of 1 million shares; and
- Westfield Group (WDC), -$0.51 (3.12%) to $15.84 on volume of 6.8 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 , while still dropping overall, did significantly better than its large-cap counterpart. The Small Ords registered a loss of 47.5 points (1.69%), closing out the session at 2766 points.
The 195 stocks which make up the index traded a total of 255.27m units: volume in the 39 gainers added up to 48.32m shares, with trade totalling 192.03m units in the index's 126 declining components. The major percentage gainers within the index were- Oakton (OKN), +$0.37 (11.08%) to $3.71 on volume of 342.9 thousand shares;
- Imdex (IMD), +$0.13 (7.44%) to $1.81 on volume of 554.2 thousand shares;
- Citigold Corporation (CTO), +$0.01 (5.88%) to $0.18 on volume of 763.1 thousand shares;
- St Barbara (SBM), +$0.01 (5.13%) to $0.21 on volume of 7.9 million shares; and
- OceanaGold Corporation (OGC), +$0.03 (4.92%) to $0.64 on volume of 121.4 thousand shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Babcock & Brown Power (BBP), -$0.07 (28%) to $0.18 on volume of 57.1 million shares;
- Becton Property Group (BEC), -$0.18 (17.86%) to $0.81 on volume of 899.8 thousand shares;
- Admiralty Resources NL (ADY), -$0.02 (12%) to $0.11 on volume of 20.9 million shares;
- Babcock&Brown Japan Property Trust (BJT), -$0.09 (10.53%) to $0.77 on volume of 3.8 million shares; and
- Centro Retail (CER), -$0.04 (10.53%) to $0.34 on volume of 1.9 million shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 4943.7 | -99.8 | -1.98 | 730m |
| XFL | ASX 50 | 4793.9 | -110.4 | -2.25 | 262.3m |
| XJO | ASX 200 | 4880.8 | -104.2 | -2.09 | 624.9m |
| XKO | ASX 300 | 4874.3 | -103.1 | -2.07 | 689.1m |
| XMD | ASX Mid-Cap 50 | 4769.2 | -59.8 | -1.24 | 171.5m |
| XSO | ASX Small Ordinaries | 2766 | -47.5 | -1.69 | 255.3m |
| XTL | ASX 20 | 2770.9 | -65 | -2.29 | 121.5m |
| XTO | ASX 100 | 3958.1 | -85.5 | -2.11 | 433.8m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 3 | 23 | 46 | 117 | 39 | 295 |
| Declines | 17 | 76 | 148 | 287 | 126 | 698 |
| Advancing Volume | 16.6m | 75.2m | 119.6m | 135.5m | 48.3m | 191.1m |
| Declining Volume | 104.9m | 357.9m | 499.5m | 570.3m | 192m | 712.7m |
GICS Industry Indices
Among the 11 industry indices, 3 registered an advance for the session, the remaining 8 lost ground.
The best performing index was Information Technology (XIJ), which added 6.7 points (1.32%) to 515 points. As we've noted, this index is really "CPU plus IRE" with CPU holding the lion's share of the market cap (it's about 3.2 times the size of IRE). CPU rose, and had volume amounting to 2.41m shares, while IRE fell and traded 0.72m units.
- Computershare (CPU), +$0.15 (1.69%) to $9.04 on volume of 2.4 million shares.
Second in the index leadership stakes was Healthcare (XHJ), which gained 70.3 points (0.8%) to 8881.7 points. The 8 stocks which make up the index traded a total of 12.47m units; 8 index components rose, with rising volume amounting to 12.47m shares, while sole declining stock traded 0m units. The major percentage gainers within the index were
- Sigma Pharmaceuticals Ltd (SIP), +$0.04 (3.54%) to $1.17 on volume of 3.9 million shares;
- ResMed Inc. (RMD), +$0.17 (3.39%) to $5.18 on volume of 3.1 million shares;
- Sonic Healthcare (SHL), +$0.30 (2.17%) to $14.10 on volume of 1.1 million shares;
- Ansell (ANN), +$0.20 (1.75%) to $11.60 on volume of 839.3 thousand shares; and
- Cochlear (COH), +$0.75 (1.5%) to $50.85 on volume of 405.6 thousand shares.
The bronze medal for today goes to Consumer Staples (XSJ), which climbed 2.9 points (0.04%) to 7414.6 points. The 11 stocks which make up the index traded a total of 21.4m units; 4 index components rose, with rising volume amounting to 15.01m shares, while the 6 decliners had volume traded totalling 5.69m units. The major percentage gainers within the index were
- Coca-Cola Amatil (CCL), +$0.09 (1.13%) to $8.06 on volume of 1.1 million shares;
- Timbercorp (TIM), +$0.01 (0.56%) to $0.89 on volume of 233.3 thousand shares;
- Woolworths (WOW), +$0.14 (0.52%) to $27.23 on volume of 1.4 million shares; and
- Foster's Group (FGL), +$0.02 (0.37%) to $5.38 on volume of 12.3 million shares.
The worst-performed index for the session was Utilities (XUJ), which dipped 244.6 points (4.62%) to 5047 points as anything Babcocky-Browny got absolutely tennelled.
The 10 stocks which make up the index traded a total of 120.52m units; The 8 decliners had volume traded totalling 103.8m units, and volume in the lone rising index component was 13.36m shares, The major percentage decliners within the index were
- Babcock & Brown Power (BBP), -$0.07 (28%) to $0.18 on volume of 57.1 million shares;
- Babcock & Brown Infrastructure Group (BBI), -$0.19 (27.94%) to $0.49 on volume of 39.6 million shares;
- APA Group (APA), -$0.24 (7.08%) to $3.15 on volume of 347.5 thousand shares;
- Babcock & Brown Wind Partners Group (BBW), -$0.06 (4.14%) to $1.39 on volume of 4.3 million shares; and
- Hastings Diversified Utilities Fund (HDF), -$0.06 (2.51%) to $2.33 on volume of 178.8 thousand shares.
Just missing out on the wooden spoon was Property Trusts (XPJ), which slid 44.6 points (3.18%) to 1356.1 points. The Babcock-Brown effect was in evidence here too - B&B doesn't mean "bed and breakfast", it means "battered and bleeding"... and not in a fun way, either.
The 21 stocks which make up the index traded a total of 111.38m units; The 18 decliners had volume traded totalling 102.9m units, and 3 index components rose, with rising volume amounting to 8.47m shares, The major percentage decliners within the index were
- Babcock&Brown Japan Property Trust (BJT), -$0.09 (10.53%) to $0.77 on volume of 3.8 million shares;
- Centro Retail (CER), -$0.04 (10.53%) to $0.34 on volume of 1.9 million shares;
- Macquarie Office Trust (MOF), -$0.06 (6.04%) to $0.86 on volume of 6.3 million shares;
- GPT Group (GPT), -$0.11 (5.97%) to $1.66 on volume of 21 million shares; and
- Commonwealth Property Office Fund (CPA), -$0.08 (5.36%) to $1.33 on volume of 4.7 million shares.
Third-to-last amongst the sector indices was Materials (XMJ), which slid 393.7 points (3%) to 12734.7 points. The 42 stocks which make up the index traded a total of 124.01m units; The 32 decliners had volume traded totalling 88.06m units, and 9 index components rose, with rising volume amounting to 35.88m shares, The major percentage decliners within the index were
- PanAust Ltd (PNA), -$0.06 (8.28%) to $0.67 on volume of 4.9 million shares;
- Panoramic Resources (PAN), -$0.16 (7.48%) to $1.98 on volume of 999 thousand shares;
- James Hardie Industries N.V. (JHX), -$0.36 (7.32%) to $4.56 on volume of 1.6 million shares;
- Gunns (GNS), -$0.13 (6.49%) to $1.80 on volume of 7.1 million shares; and
- Mount Gibson Iron (MGX), -$0.14 (6.03%) to $2.18 on volume of 2.7 million shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XIJ | Information Technology | 515 | 6.7 | 1.32 | 3m |
| XHJ | Healthcare | 8881.7 | 70.3 | 0.8 | 12m |
| XSJ | Consumer Staples | 7414.6 | 2.9 | 0.04 | 21m |
| XTJ | Telecommunications | 1494.8 | -3.6 | -0.24 | 33m |
| XDJ | Consumer Discretionary | 1632.3 | -15.7 | -0.95 | 33m |
| XNJ | Industrials | 4808.3 | -52.9 | -1.09 | 62m |
| XXJ | Financials ex Property Trusts | 4877.8 | -124.5 | -2.49 | 76m |
| XEJ | Energy | 16686.2 | -444.1 | -2.59 | 28m |
| XMJ | Materials | 12734.7 | -393.7 | -3 | 124m |
| XPJ | Property Trusts | 1356.1 | -44.6 | -3.18 | 111m |
| XUJ | Utilities | 5047 | -244.6 | -4.62 | 121m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| BBP | Babcock & Brown Power | 0.18 | -0.07 | -28 | 57.1m |
| BBI | Babcock & Brown Infrastructure Group | 0.49 | -0.19 | -27.94 | 39.6m |
| TLS | Telstra Corporation | 4.37 | -0.01 | -0.23 | 27.6m |
| GPT | GPT Group | 1.66 | -0.11 | -5.97 | 21m |
| ADY | Admiralty Resources NL | 0.11 | -0.02 | -12 | 20.9m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| OKN | Oakton | 3.71 | 0.37 | 11.08 | 342.9k |
| CNT | Centamin Egypt | 1.00 | 0.09 | 9.94 | 78.3k |
| CDD | Cardno | 4.75 | 0.34 | 7.71 | 79.6k |
| IMD | Imdex | 1.81 | 0.13 | 7.44 | 554.2k |
| OST | Onesteel | 6.22 | 0.43 | 7.43 | 13.9m |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| SAV | Savcor Group | 0.81 | -0.39 | -32.5 | 48.9k |
| BBP | Babcock & Brown Power | 0.18 | -0.07 | -28 | 57.1m |
| BBI | Babcock & Brown Infrastructure Group | 0.49 | -0.19 | -27.94 | 39.6m |
| VBA | Virgin Blue Holdings | 0.84 | -0.33 | -27.9 | 3.6m |
| BNB | Babcock & Brown | 3.57 | -0.94 | -20.84 | 8.5m |
