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From time to time it's nice to see global markets reject the whackery that emanates from the Retarded Soviet Union of America. Anybody who looked at an intraday Dow chart before the open of the Asian session must have wondered why Wall Street handed control to the passengers on the Special Bus.
Seriously - can you think of anything that changed yesterday at 2 p.m. (NY time) that made the Dow components suddenly become 'must have' investments?
Nah - didn't think so. And yet the Dow rose 700 points in the last two hours of trade.
In the Strayan market, the usual nuffie stampede occurred - stock nuffnuffs with the collective intelligence of a brain-damaged Frenchman, piled in for one reason and one reason only... the US went up strongly.
We all know what happens to people who join in the nuffie orgasm and dive in at the ASX open... they get gutted like fish. And today the trail of gizzards began just before noon, and Crom only knows how the market managed to stay in the green by the end of the day.
It really is quite amusing, if you're not fretting about the impact of the market on your super. If your super is in long-only stock positions, then it's not funny in the slightest. A lot of people will have to revise their retirement expectations downwards as a result of this episode - and as I have said before, this episode is going to last a generation.
Major Market Indices
The broad market - the All Ordinaries (XAO) - rose strongly, registering a gain of 50.4 points (1.34%), finishing at 3805.8 points.
The index hit an intraday high of 3931.3 at 11:36 am, while the low for the day was 3783.3 - set at 3:40 pm Sydney time. And the only thing that made the Ords close above 3800 was chicanery by the charlatans that make up the brokerage community: the odd 20-point hike between 4 p.m. market close and 4:20 settlement was designed to try to print a technical signal - but it failed.
Total volume traded on the ASX was 1.53bn units, 30.3% above its 10-day average. The ASX's daily listing of all stocks included 1204 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 606 issues rose, with volume in rising issues totalling 698.1m units; decliners numbered 369 counters, and between them they traded aggregate declining volume of 516.6m shares.
Of the 494 All Ordinaries components, 263 rose while 151 fell. Volume was tilted in favour of the gainers by a margin of 1.3:1, with 573.49m shares traded in gainers while 452.85m 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 51 points (1.34%), closing out the session at 3845.6 points.
| Name | Close | +/-(%) |
|---|---|---|
| All Ordinaries | 3805.80 | 50.40 (1.3%) |
| ASX 20 | 2339.40 | 42.00 (1.8%) |
| ASX 50 | 3902.70 | 65.40 (1.7%) |
| ASX 100 | 3175.80 | 41.00 (1.3%) |
| ASX 200 | 3845.60 | 51.00 (1.3%) |
| ASX 300 | 3823.20 | 52.40 (1.4%) |
| ASX Mid-Cap 50 | 3442.50 | -55.60 (1.6%) |
| ASX Small Ordinaries | 1722.50 | 39.30 (2.3%) |
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - performed solidly, in moving up 42 points (1.83%), closing out the session at 2339.4 points.
Among the 20 big guns, 16 index components finished to the upside, and of the rest, 5 closed lower for the session. The 21 stocks which make up the index traded a total of 159.18m units; 16 index components rose, with rising volume amounting to 123.07m shares, while the 5 decliners had volume traded totalling 36.11m units. The major percentage gainers within the index were
- Foster's Group (FGL), +$0.34 (6.69%) to $5.42 on volume of 13.7 million shares;
- Newcrest Mining (NCM), +$0.99 (5.59%) to $18.70 on volume of 2.4 million shares;
- Wesfarmers (WES), +$0.75 (4%) to $19.50 on volume of 2.6 million shares;
- CSL (CSL), +$1.38 (3.97%) to $36.18 on volume of 2.2 million shares; and
- QBE Insurance Group (QBE), +$0.95 (3.89%) to $25.40 on volume of 3 million shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- Stockland (SGP), -$0.35 (8.24%) to $3.90 on volume of 12.4 million shares;
- Westfield Group (WDC), -$0.85 (5.9%) to $13.55 on volume of 10.3 million shares;
- St George Bank (SGB), -$0.52 (1.94%) to $26.30 on volume of 1.4 million shares;
- Westpac Banking Corporation (WBC), -$0.24 (1.17%) to $20.26 on volume of 7 million shares; and
- Brambles (BXB), -$0.08 (1.03%) to $7.70 on volume of 5.1 million shares.
The ASX Small Ordinaries (XSO) added 39.3 points (2.33%), closing out the session at 1722.5 points.
Among the stocks that make up the Small Caps index, 129 index components finished to the upside, and of the rest, 58 closed lower for the session.
The 208 stocks which make up the index traded a total of 363.14m units: volume in the 129 gainers totalling 205.06m shares, with trade totalling 97.03m units in the index's 58 declining components. The major percentage gainers within the index were- Albidon (ALB), +$0.08 (29.63%) to $0.35 on volume of 1.4 million shares;
- Roc Oil Company (ROC), +$0.09 (18.48%) to $0.55 on volume of 3.7 million shares;
- Compass Resources (CMR), +$0.05 (17.65%) to $0.30 on volume of 563.4 thousand shares;
- Minara Resources (MRE), +$0.06 (17.65%) to $0.40 on volume of 9.8 million shares; and
- Cockatoo Coal (COK), +$0.04 (16.67%) to $0.25 on volume of 2.4 million shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Macquarie Media Group (MMG), -$0.28 (23.53%) to $0.91 on volume of 701.6 thousand shares;
- Babcock and Brown Capital (BCM), -$0.36 (18.16%) to $1.60 on volume of 436.3 thousand shares;
- OceanaGold Corporation (OGC), -$0.06 (18.03%) to $0.25 on volume of 196.7 thousand shares;
- Apex Minerals NL (AXM), -$0.05 (17.86%) to $0.23 on volume of 910.8 thousand shares; and
- City Pacific (CIY), -$0.02 (15.38%) to $0.11 on volume of 154.4 thousand shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 3805.8 | 50.4 | 1.34 | 1261.6m |
| XFL | ASX 50 | 3902.7 | 65.4 | 1.7 | 403.9m |
| XJO | ASX 200 | 3845.6 | 51 | 1.34 | 1042.6m |
| XKO | ASX 300 | 3823.2 | 52.4 | 1.39 | 1162.3m |
| XMD | ASX Mid-Cap 50 | 3442.5 | -55.6 | -1.59 | 406.1m |
| XSO | ASX Small Ordinaries | 1722.5 | 39.3 | 2.33 | 352.3m |
| XTL | ASX 20 | 2339.4 | 42 | 1.83 | 146.8m |
| XTO | ASX 100 | 3175.8 | 41 | 1.31 | 810m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 16 | 55 | 115 | 263 | 129 | 606 |
| Declines | 5 | 42 | 81 | 151 | 58 | 369 |
| Advancing Volume | 123.1m | 334.2m | 456.2m | 573.5m | 205.1m | 698.1m |
| Declining Volume | 36.1m | 318.1m | 400.3m | 452.9m | 97m | 516.6m |
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 Materials (XMJ), which added 313.1 points (3.93%) to 8289.1 points. The 45 stocks which make up the index traded a total of 244.9m units; 35 index components rose, with rising volume amounting to 170.74m shares, while the 6 decliners had volume traded totalling 21.26m units. The major percentage gainers within the index were
- Minara Resources (MRE), +$0.06 (17.65%) to $0.40 on volume of 9.8 million shares;
- Sino Gold Mining (SGX), +$0.36 (13.33%) to $3.06 on volume of 1.3 million shares;
- Lynas Corporation (LYC), +$0.03 (13.04%) to $0.26 on volume of 2.8 million shares;
- Kagara Zinc (KZL), +$0.07 (12.5%) to $0.59 on volume of 2.3 million shares; and
- Straits Resources (SRL), +$0.12 (11.68%) to $1.10 on volume of 3 million shares.
Second in the index leadership stakes was Energy (XEJ), which gained 449.1 points (3.86%) to 12073.4 points. The 19 stocks which make up the index traded a total of 188.25m units; 18 index components rose, with rising volume amounting to 49.95m shares, while sole declining stock traded 0m units. The major percentage gainers within the index were
- Roc Oil Company (ROC), +$0.09 (18.48%) to $0.55 on volume of 3.7 million shares;
- Riversdale Mining (RIV), +$0.31 (13.72%) to $2.57 on volume of 531 thousand shares;
- Gloucester Coal (GCL), +$0.49 (13.65%) to $4.08 on volume of 1 million shares;
- Centennial Coal Company (CEY), +$0.35 (13.06%) to $3.03 on volume of 3.9 million shares; and
- Felix Resources (FLX), +$1.15 (12.17%) to $10.60 on volume of 823.5 thousand shares.
The bronze medal for today goes to Consumer Staples (XSJ), which climbed 141.1 points (2.31%) to 6257.5 points. The 13 stocks which make up the index traded a total of 37.54m units; 8 index components rose, with rising volume amounting to 30.64m shares, while the 5 decliners had volume traded totalling 6.9m units. The major percentage gainers within the index were
- AWB (AWB), +$0.17 (6.77%) to $2.68 on volume of 672.4 thousand shares;
- Foster's Group (FGL), +$0.34 (6.69%) to $5.42 on volume of 13.7 million shares;
- Goodman Fielder (GFF), +$0.07 (4.3%) to $1.58 on volume of 8.2 million shares;
- Wesfarmers (WES), +$0.75 (4%) to $19.50 on volume of 2.6 million shares; and
- Lion Nathan (LNN), +$0.20 (2.38%) to $8.60 on volume of 1.2 million shares.
The worst-performed index for the session was Property Trusts (XPJ), which dipped 64.5 points (6.58%) to 915.4 points. The 21 stocks which make up the index traded a total of 283.81m units; The 19 decliners had volume traded totalling 263.46m units, and 2 index components rose, with rising volume amounting to 20.34m shares, The major percentage decliners within the index were
- ING Industrial Fund (IIF), -$0.12 (28.4%) to $0.29 on volume of 12.8 million shares;
- Mirvac Group (MGR), -$0.3 (23.35%) to $0.99 on volume of 12.3 million shares;
- Macquarie Countrywide Trust (MCW), -$0.07 (21.31%) to $0.24 on volume of 15.2 million shares;
- Valad Property Group (VPG), -$0.01 (14.44%) to $0.08 on volume of 30.7 million shares; and
- Tishman Speyer Office Fund (TSO), -$0.05 (14.06%) to $0.28 on volume of 1.4 million shares.
Just missing out on the wooden spoon was Utilities (XUJ), which slid 108.3 points (2.46%) to 4289.6 points. The 10 stocks which make up the index traded a total of 26.07m units; The 6 decliners had volume traded totalling 9.05m units, and 3 index components rose, with rising volume amounting to 12.78m shares, The major percentage decliners within the index were
- Duet Group (DUE), -$0.13 (5.22%) to $2.36 on volume of 813.6 thousand shares;
- AGL Energy (AGK), -$0.63 (4.38%) to $13.75 on volume of 2.3 million shares;
- Spark Infrastructure Group (SKI), -$0.05 (3.57%) to $1.35 on volume of 2.9 million shares;
- APA Group (APA), -$0.04 (1.49%) to $2.65 on volume of 677.7 thousand shares; and
- Hastings Diversified Utilities Fund (HDF), -$0.03 (1.31%) to $2.26 on volume of 826.1 thousand shares.
Third-to-last amongst the sector indices was Industrials (XNJ), which slid 41.2 points (1.16%) to 3507.1 points. The 32 stocks which make up the index traded a total of 81.87m units; The 19 decliners had volume traded totalling 53.97m units, and 12 index components rose, with rising volume amounting to 27.45m shares, The major percentage decliners within the index were
- Boart Longyear (BLY), -$0.05 (8.74%) to $0.47 on volume of 9.8 million shares;
- Corporate Express Australia (CXP), -$0.38 (7.76%) to $4.52 on volume of 168.3 thousand shares;
- Ausenco (AAX), -$0.25 (6.7%) to $3.48 on volume of 345.1 thousand shares;
- Macmahon Holdings (MAH), -$0.05 (6.49%) to $0.72 on volume of 2.5 million shares; and
- Emeco Holdings Ltd (EHL), -$0.04 (6.25%) to $0.53 on volume of 2.5 million shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XMJ | Materials | 8289.1 | 313.1 | 3.93 | 245m |
| XEJ | Energy | 12073.4 | 449.1 | 3.86 | 188m |
| XSJ | Consumer Staples | 6257.5 | 141.1 | 2.31 | 38m |
| XHJ | Healthcare | 8802.2 | 189.2 | 2.2 | 11m |
| XIJ | Information Technology | 471.9 | 8.2 | 1.77 | 1m |
| XTJ | Telecommunications | 1351.6 | 21.3 | 1.6 | 43m |
| XXJ | Financials ex Property Trusts | 4431.7 | 53.7 | 1.23 | 93m |
| XDJ | Consumer Discretionary | 1240.1 | -7.6 | -0.61 | 51m |
| XNJ | Industrials | 3507.1 | -41.2 | -1.16 | 82m |
| XUJ | Utilities | 4289.6 | -108.3 | -2.46 | 26m |
| XPJ | Property Trusts | 915.4 | -64.5 | -6.58 | 284m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| QGC | Queensland Gas Company Limited | 5.75 | 0.00 | 0 | 138.3m |
| GPT | GPT Group | 0.85 | -0.01 | -1.16 | 51.6m |
| GMG | Goodman Group | 0.93 | -0.07 | -7 | 35.7m |
| TLS | Telstra Corporation Limited. | 4.03 | 0.08 | 2.03 | 34m |
| OZL | OZ Minerals Limited | 0.96 | 0.06 | 6.7 | 33.8m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| SPH | Sphere Investments Limited | 0.67 | 0.20 | 42.55 | 2m |
| ALB | Albidon Limited | 0.35 | 0.08 | 29.63 | 1.4m |
| AND | Andean Resources Limited | 0.71 | 0.16 | 28.18 | 325.1k |
| NFK | Norfolk Group Limited | 0.40 | 0.08 | 25 | 176.2k |
| CMV | CMA Corporation Limited | 0.20 | 0.04 | 21.88 | 245.5k |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| AXQ | Allco Max Securities And Mortgage Trust | 0.01 | 0.00 | -30 | 431.5k |
| IIF | ING Industrial Fund | 0.29 | -0.12 | -28.4 | 12.8m |
| ALL | Aristocrat Leisure Limited | 3.96 | -1.54 | -28 | 6.6m |
| MMG | Macquarie Media Group | 0.91 | -0.28 | -23.53 | 701.6k |
| MGR | Mirvac Group | 0.99 | -0.30 | -23.35 | 12.3m |
