BUSINESS

Global Markets Overview – 5/29/14

The S&P pulled back from its record close, with investors exercising some caution and on mild profit taking. There was nothing on the US economic calendar to really drive sentiment and as result investors looked ahead to the GDP reading, which is due out later today. US GDP is expected to be revised to a negative print, with most analysts feeling this is consistent with a handover into Q2, which is then expected to show a bounce-back. Some Fed members anticipate growth of nearly 3% for Q2. Shoul...

Australian Stock Market Report – Morning 5/29/14

In US economic data, the weekly mortgage market index fell by 1.2% with the purchase index down 1.1% and the refinance index down 1.8%. According to Redbook Research, weekly chain store sales fell rose by 3.2% on a year ago, down from the 3.9% annual gain in the previous week. The Dallas Federal Reserve services index eased from +18.5 to +13.1 in May.
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Australian Stock Market Report – Midday 5/28/14

Local stocks benefitted from some US direction overnight with Wall St overnight returning from a long weekend. The broader US market continued to grind higher following better economic readings. This translated to a positive start for local stocks with the ASX 200 trading higher by around 20 points in early trade. As lunch time drew closer the market gave up some its gains, although it remained in the range of positive territory.
Vittorio Hernandez May 28, 2014

Australia to Ship Toxic Waste to France

Australian chemicals company, Orica, announced on Tuesday that it filed an application for toxic waste material to be shipped to France
Athena Yenko May 28, 2014

Global Markets Overview – 5/28/14

US markets returned to trade on a positive note, with the S&P rallying to yet another record of 1,912. Not only did the S&P print a record high, it also closed right at the highs, which is a positive sign and says a lot about momentum. Sentiment was lifted by a string of positive data releases out of the US, including durable goods orders and the Case Shiller house price index. Both indicators were quite positive and confirmed the US continues to bounce back after a tough start to the year. As ...
Vittorio Hernandez May 28, 2014

Australian Stock Market Report – Morning 5/28/14

In US economic data, the 20-city S&P/Case-Shiller Home Price Index lifted by a larger than expected 1.2% in March and was up 12.4% on a year ago. The Conference Board Consumer Confidence index rose by 1.3 points to 83.0 in May. The regional manufacturing indices were mixed, with the Dallas Fed index retreating from +11.7 to +8.0 in May, while the Richmond Fed index remained at +7 in May. US durable goods orders rose by 0.8% in April after an upwardly revised 3.6% in March.
Vittorio Hernandez May 28, 2014

Starbucks Sells 24 Stores in Australia to 7-Eleven Owner, The Withers Group

Coffee giant Starbucks sold its 24 stores in Australia to The Withers Group, which owns the 7-Eleven franchise in the country covering 600 outlets. Prior to the sale, Starbucks, which opened its first store in Sydney in 2000, was wholly owned by Starbucks in the U.S., based in Seattle.
Vittorio Hernandez May 28, 2014

Australian Stock Market Report – Afternoon 5/27/14

The ASX 200 spent the afternoon session consolidating having surrendered a 17 point improvement in early trade. The lack of direction felt from the closure of Wall St overnight remained in place in the 2nd half of the day. Volumes were a feature in that that were unusually low with less than $3.6 bln in shares changing hands. Most sectors were higher at the close of trade although the gains were unspectacular.
Vittorio Hernandez May 27, 2014
A woman looks at the screen of her mobile phone in front of an Apple logo outside its store in downtown Shanghai September 10, 2013.

Apple Inc (AAPL) 'Significantly Underweight' Among Top 100 Holders of Stock

Apple Inc stock has significantly declined in the portfolios of major tech investors compared to stocks of companies like Microsoft and HP in an analysis from Morgan Stanley. According to the report, analysts believe the low portfolio allocation will benefit Apple Inc as it prepares to release new products soon including the iPhone 6 and long-rumoured i-Watch.
Reissa Su May 27, 2014

Global Markets Overview – 5/27/14

With the US and UK closed for bank holidays, attention was solely in Europe where we finally saw sentiment swing positive. The highlight of the session were comments by ECB President Mario Draghi which essentially confirmed that action will be taken at the June 5 policy meeting. Draghi discussed the possibility of negative deposit rates, further LTROs and a broad-based asset purchase programme. He also made it clear that they were concerned about an undesirable tightening of monetary conditions ...
Vittorio Hernandez May 27, 2014

Australian Stock Market Report – Morning 5/27/14

European shares rose on Monday following uneventful European Union elections and a decisive result in presidential elections in Ukraine. Reuters reports ´´Results from around the 28-nation bloc showed pro-European centre-left and centre-right parties will keep control of around 70 percent of the 751-seat EU legislature, but the number of Eurosceptic members will more than double.´´ In Ukraine, Petro Poroshenko, a billionaire chocolate manufacturer, record an emphatic victory in presidential elec...
Vittorio Hernandez May 27, 2014

Australian Stock Market Report – Afternoon 5/26/14

The Australian share market started the trading week in positive territory, following gains on offshore markets on Friday. The All Ordinaries Index (XAO) closed at its highs of the day, up 20.1pts or 0.4 per cent to 5490.4 points, while the ASX 200 (XJO) finished above 5500 points at 5512.
Vittorio Hernandez May 26, 2014

Australian Stock Market Report – Midday 5/26/14

Local stocks saw a flat start to the trading week on Monday. Selling intentions harboured by participants were stymied by the strong finish seen for US stocks at the conclusion of last week which saw the broader US market end at record highs on Friday.
Vittorio Hernandez May 26, 2014
A man looks at an electronic board displaying Japan's Nikkei average (top C) and various countries' stock indices, as passers-by walk past outside a brokerage in Tokyo April 16, 2014.

Global Markets Overview – 5/26/14

Equities managed to get into the weekend on a positive note, but developments out of the weekend remain on the European front. The dominant theme from Friday's session was modest US dollar strength with a solid new home sales reading helping sentiment along. The greenback enjoyed good strength against the yen and the euro, with USD/JPY nudging the 102 level. This puts the Nikkei in a very good position at the open today and we are currently calling it up 0.8% to 14,573.
Vittorio Hernandez May 26, 2014

Australian Stock Market Report – Morning 5/26/14

In US economic data, new home sales rose by 6.4% to a 433,000 annual pace in April, above forecasts centred on result near 425,000. The weekly Economic Cycle Research Institute index eased from 136.3 to 135.1 in the latest week but is up 5.0% on a year ago.
Vittorio Hernandez May 26, 2014

Australian Stock Market Report – Afternoon 5/23/14

After a volatile week ,the ASX 200 has ended in positive territory, albeit by a small margin of 0.25%. The transformative event of the week was the improved reading on Chinese manufacturing on Thursday which provided the mining sector with a timely fillip following the selling seen at the start of the week. Miners ended lower as a group although this came after the strong gains seen on Thursday. Gold miners were one of the weak spots in the resource sector. St Barbara Limited (SBM), an Australia...
Vittorio Hernandez May 23, 2014

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