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Markets Live: China property troubles

Date

Patrick Commins, Jens Meyer

The local market managed to keep a seven-day winning streak intact despite a lurch into the red during the afternoon as Chinese sharemarkets were sold off amid property sector jitters.

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That’s it for Markets Live today.

You can read a wrap-up of the action on the markets here.

Thanks for reading and your comments.

See you all again tomorrow morning from 9.

The mostly upbeat tone of domestic company reporting season overcame a shaky lead from the United States and concerns about liquidity in China as local shares edged higher.

The benchmark S&P/ASX 200 Index eked out a gain of 1.5 points, or 0.03 per cent, on Monday to 5440.2, to close higher for the seventh straight session. The broader All Ordinaries Index added less than 1 point to 5450.1.

Local shares had a weak lead from Wall Street, which closed lower on Friday after a National Association of Realtors report showed sales of previously owned homes in the United States fell by 5.1 per cent in January, against expectations for a 4.1 per cent fall.

Falls in major Asian markets applied further pressure on the local index in the afternoon. China's Shanghai Composite Index lost more than 2 per cent following news reports Chinese banks are tightening property lending.

The focus for local equity investors remained firmly on company reporting season. Bluescope Steel climbed 7.3 per cent to $6.30 after chief executive Paul O'Malley said the outlook for the steelmaker was improving.

"Generally speaking, so far reporting season has been slightly better than expected", Dalton Nicol Reid chief investment officer Jamie Nicol said. "We are likely to see some decent earnings growth this year for the first time in a number of years which is a real positive."

Read more.

And.. drumroll please... the best and worst for the day!

Transfield Services is up by a massive 25 per cent on news that the company had won (or was close to winning) a $1.2 billion contract to provide services to the Nauru and Manus island refugee camps.

Beach Energy is up 8.9 per cent on a well-received earnings update, while investors were impressed BlueScope Steel had any earnings at all.

Engineering group Monadelphous showed companies in its sector are not all bad apples after it announced a $680 million contract of its own. Up went the shares by 6.5 per cent.

Worst among the top 200 stocks was Pacific Brands, down a modest 4 per cent.

Spreading the net wider to the All Ords and you find one of the stories of the day, Boart Longyear, which is 15 per cent lower and has called in the consultants after it announced it had lost almost $700 million in 2013.

 

Best and worst performers in the ASX 200.

Best and worst performers in the ASX 200.

Shares have scratched out the barest of gains to keep intact a seven-trading day winning streak, with the ASX 200 closing less than 2 points higher to 5440.2.

The local market followed the lead of Chinese shares and traded lower into the afternoon before a last gasp gain of around 15 points at close.

The biggest drag on the market were some blue-chip names trading ex-dividend; Telstra finished 2.4 per cent lower, Wesfarmers 2.7 per cent, while Woodside and Suncorp were both 3 per cent down.

The impact of these big names on the overall index was apparent in the fact that 106 stocks were up, and 76 were down (18 were even).

Metals and mining was the best performing sector, led higher by BHP, which finished 0.9 per cent higher, and Fortescue, which advanced 2.2 per cent. Gold producers as a group jumped 2.5 per cent, with Newcrest closing up 2.7 per cent.

Financial stocks were up 0.2 per cent, with Westpac, ANZ, and CBA finished a little higher, while NAB eased 0.6 per cent.

China shares have tumbled to their lowest in two weeks, hurting Hong Kong markets, roiled by mainland news reports saying banks have begun tightening property loans.

China Vanke dived more than 6 per cent after the official Shanghai Securities News reported that Industrial Bank may have stopped some types of property-related loans, though several other banks have left property-loan policies unchanged.

"I would get out of interest rate-sensitive sectors. It's very hard to navigate right now with policy risk on the rise," says Hong Hao, Hong Kong-based chief equity strategist at Bank of Communication International. "Property prices in many cities are still rising and that's not a good sign coming ahead of the annual parliamentary meetings that start next week." Those meetings are due to start March 5 in Beijing.

The Shanghai Composite is down 2 per cent, while Hong Kong's Hang Seng has lost 1.3 per cent.

Mainland losses are coming in hefty volumes. Midday Shanghai volumes were at their strongest in two months after official data showed average new home prices rose 9.6 per cent in China's 70 major cities in January from a year earlier.

Mining services provider Boart Longyear has appointed Goldman Sachs to lead a strategic review of the company after it plunged to a $US620 million ($691 million) net loss in 2013 and failed to provide earnings guidance for 2014 due to ongoing industry volatility.

The Utah-based company’s shares fell by 17 per cent in early trading on the ASX before recovering some of those losses to trade 11 per cent down at 37.5¢ in early afternoon trade. Boart shares are down 78 per cent in the last 12 months.

While the company says it remains confident it can manage its business and “associated liquidity risks”, it has asked Goldman Sachs to launch a review to maximise value for Boart stakeholders. The market expects both asset sales and a potential equity raising will be considered as the company fights to stay solvent over the short term.

The review aims to preserve the value of the drilling services and products divisions, ensure the company continues as a going concern while capturing future growth when the market recovers.

The company has again negotiated new financial covenants to cover its debt including minimum cumulative earnings over the last 12 months of $US45 million until March 31, 2015.

The global dividend pool has exceeded $US1 trillion for the first time as companies respond to shareholders’ demands for income, underscoring the seemingly insatiable thirst for dividends triggered by ultra-stimulatory monetary policy.

However, 2013 also represents the slowest growth for dividends in the post-crisis era. Last year, dividends rose 2.8 per cent as US companies began dropping payouts in the fourth quarter. That’s when the US Federal Reserve confirmed it would taper the pace of its bond-buying program in the first step to unwinding more than $US3 trillion of quantitative easing.

Global dividends reached $US1.03 trillion in calendar 2013, a record, representing a 43 per cent increase from 2009, according to research published by Henderson Global Investors. The Asia-Pacific region, where Australia is the dominant source of dividends ahead of Hong Kong, grew 79 per cent over the same period.

On an annual basis the Australia balance ($US40.3 billion) was up 10.2 per cent, ahead of Canada ($US38.5 billion), Germany ($US36.4 billion) and gaining ground on Japan ($US46.4 billion). Since 2009, Australia is up 89 per cent.

Henderson chief executive Andrew Formica predicted the demand for income from equities would endure:

  • The search for income is more than just a response to rock bottom interest rates in recent years. It marks a generational shift as ageing populations must increasingly rely less on state pensions and more on their own savings to provide for retirement.
  • Not only that, but they will need to stay invested in equities much longer than in the past too. This demand for equity income is a trend we see continuing through 2014 and beyond.
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Poker machine manufacturer Ainsworth Game Technology reported tax profit for the December half year surged 62 per cent against the previous corresponding period to $35.7 million, and the company boosted interim dividend of 5 cents a share (unfranked), against 3 cents this time last year.

But investors were largely left unimpressed, and the stock eased 1.1 per cent in afternoon trading.

A 51 per cent jump in before-tax profit to $45.6 million was in line with the company’s guidance it provided in mid-January.

Revenue was up 26 per cent to $121.8 million.

Further investment in research and development, the on-going release of innovative product initiatives and new licensing submissions are expected to further assist in achieving market share gains in all established markets and to provide access to new markets in future periods,” the company said.

“Investment in the group’s Las Vegas operational facility in prior periods has provided the necessary support for the expected growth in international markets.”

James Packer, Robert De Niro and former Qantas chairman Margaret Jackson are behind the US launch last week of a super premium Australian vodka brand, VDKA 6100, which they plan to take global and top $100 million in sales within two years, the AFR is reporting.

Packer has sunk an estimated $10 million into Melbourne-based Artisan Spirit Merchants after Jackson brokered the investment deal – both are former Qantas board directors.

Packer, chairman of Crown Resorts, enlisted De Niro to join the venture as a “co-creator” for the new vodka, which is made in New Zealand from milk whey instead of grains or starches to create a smoother taste. VDKA 6100 “soft launched” in the US last week.

The first major promotional activity will be as the official vodka for the Tribeca Film Festival in New York in April, of which De Niro is a co-founder. The actor is also a co-founder of the upmarket international restaurant and hotel group Nobu.

Read more ($)

Skol! Robert de Niro with James Packer.

Skol! Robert de Niro with James Packer.

It’s the back half of the earnings season and share price momentum is reaching historical highs.

Around 84 per cent of ASX 200 stocks are now trading above their 21-day moving average (MA), points out IG’s chief market strategist, Chris Weston.

The 21-day MA is an indicator of short-term price momentum, and a popular one among day traders.

At the last high in October (when the market was at 5457), 78 per cent of stocks above the 21-day MA.

At the all-time high in late 2007, the proportion was 64 per cent.

What’s more, at the moment there are around 10 per cent of the index’s constituents 10 per cent above that 21-day average.

Too short term? There are also 68 per cent of stocks above the longer term 200-day MA, Weston says.

“I can’t find a time when this has been higher,” he says: last October there were 63 per cent; in Nov 2007 there were 61 per cent.

“This doesn’t mean we are going to see a pullback,” points out Weston, who describes himself as a momentum-style investor who likes to “buy high and sells higher”.

“What it does show is how broad-based the rally has been and that the moves higher have been over a diverse range of sectors.”

Then a bit of technical talk: “I do feel we are becoming overbought, but the oscillators are not at extremes by any means yet. Still, a break on the S&P of 1850 is needed for all markets this week”.

Even international drug traffickers need investment advisers, but it looks like criminals don't like putting their money into stocks.

That was Robert Mazur's experience when he went undercover for the US government in the 1980s and '90s. Posing as a Mob-connected businessman, he helped the Medellin drug cartel launder and invest its suitcases full of cash.

His clients were "the biggest crooks in the world," says Mazur, author of The Infiltrator: My Secret Life Inside the Dirty Banks Behind Pablo Escobar's Medellin Cartel.

Yet they "always told me that they don't gamble", Mazur says. "They don't take risk, which is why the stock market was of absolutely no interest to them."

Wait, criminals don't like risk? Murder, drug trafficking, fraud and bribery - all okay. But propose buying them shares of Twitter or Tesla, and they freak?

Investing, by definition, means trusting others. You must believe chief financial officers aren't cooking the books and rely on people like Mark Zuckerberg to make smart use of the billions at their disposal. For criminals who thrive on taking advantage of trust that's not an easy sell.

Convicted felon Sam Antar says stock-picking - trusting in people and numbers you can't directly verify - sets you up as a mark for the unscrupulous.

Read more

Mobsters are happy to pull the trigger on all kinds of deals, but generally stay well away from the sharemarket.

Mobsters are happy to pull the trigger on all kinds of deals, but generally stay well away from the sharemarket.

Investor reactions are coming in to our report that David Jones is willing to consider Myer’s merger plan.

Two major shareholders in DJs say Australia's No.2 department store firm should reject any takeover from its larger rival unless it tops the company's $1.76 billion market value.

The duo, which together own about 10 per cent of David Jones shares, say the retailer should consider a sale if shareholders benefited but should reject Myer's offer - pitched as a "merger of equals" without a premium.

Myer in October offered to buy David Jones at market value - then about $1.4 billion - to increase their competitiveness amid falling sales as shoppers go online. After Myer repeated its nil-premium offer on February 20, David Jones said it would consider any proposal in its shareholders' interests.

"If they want to acquire it, they have to pay up for it," says Paul Xiradis, chief executive of fund manager Ausbil Dexia, David Jones's second-largest shareholder with a stake of around 5 per cent:

  • In order for it to be compelling for David Jones shareholders it needs to be something which is at a reasonable premium. I don't think a nil (premium) merger discussion is one that should lead to anywhere.


Simon Marais, managing director of Allan Gray Australia, which also has about 5 per cent of David Jones shares, says the company "shouldn't do a deal where all the benefits go to Myer".

David Jones shares have risen 15 per cent since January 30 when it first confirmed it had received and rejected Myer's offer two months earlier. The shares are 0.6 per cent up in a flat overall market. Myer shares are up 1.5 per cent.

Ructions over Santos's unimpressive earnings and poor reserves data released last Friday are continuing, with JPMorgan cutting its target price for Santos shares, while raising question marks over the long term cash generation capacity of Santos's Queensland gas export project.

The bank cut to $13.88 from $14.28 its target price for Santos shares, with a 'neutral' rating, telling clients it prefers Woodside to Santos.

"Yet again, GLNG [the Santos gas project] failed to register meaningful 2P reserve growth and 2C contingent resources were down," the bank told clients. "We view 2P+2C as an indication of ultimate resource recovery.

"We think the reserve report provides more cause for concern over the long term cash flow generation of GLNG and hence the return on capital of the project."

Shares are flat at $13.59.

Rising demand for physical gold in China is seen as one of the reasons behind the recent recovery in the precious metal’s price, which is currently hovering at $US1320 an ounce.

China overtook India last year as the world’s largest buyer of physical gold, according to a report by the World Gold Council. In 2013, Chinese demand for gold bars, coins and jewelry soared 32 per cent to a record high, as China imported 1066 metric tonnes of the precious metal, or more than one third of the 2968 metric tonnes of gold produced globally.

And the strong demand for the precious metal seems to be continuing. The (very bullish) ‘In gold we trust’ blog has posted a few photos of a veritable gold shopping frenzy in China around lunar new year.

‘‘People are buying gold like groceries,’’ the blog quotes a reader. The shopping splurge has ‘‘resulted in an all time Chinese gold demand record in January – which accounted for 246 tonnes,’’ the blog says.

Our Fairfax correspondents in China, Phil Wen and Angus Grigg, say the rush for gold isn’t necessarily a sign consumers don’t trust the banks, as the blog implies. Rather, they say local investors see it as a way of preserving wealth, while property is considered overpriced and the sharemarket has underperformed.

Rush for gold

Rush for gold

This chart shows how Sydney property prices have been highly correlated to US monetary expansion.

It reveals "the power of the Fed balance sheet since 2009 and its impact on asset prices," say analysts Bank of America-Merrill Lynch.

It's one of a number of exhibits from the investment bank's strategists, who in their note warn investors to get ready for the end of the carry trade in emerging markets as QE is pulled back.

"Carry trade" refers to a strategy where investors borrow cheaply in a low-yielding currency, such as the US dollar, to buy a range of high-yielding assets around the world.

London property is another asset that has moved in line with monetary expansion out of the US, although these also reflect "some spillover EM demand" write the analysts.

Other assets that have been highly correlated to QE according to BoA-ML are: US biotech and tech stocks, EM gaming stocks, and EM internet stocks.

Could the party go on? Yes, if for some reason – a significant deterioration in the US labour market, or a deflationary shock from China, or any other surprise that could lead to a cessation of the US tapering could prolong this carry trade," write the analysts.

"This is not the house base case. We believe it is better to start preparing for a post-QE world. As one of our smartest clients told us: ‘The main theme in the past five years was QE; if that is coming to an end, investments and themes that worked in the past five years must therefore be questioned.’ We agree.”

The Fed giveth, and the Fed taketh away: Sydney property prices have been highly correlated with QE

The Fed giveth, and the Fed taketh away: Sydney property prices have been highly correlated with QE

Average new home prices in China's 70 major cities rose 9.6 per cent in January 2014 from a year earlier, easing from the previous month's 9.9 per cent rise, according to Reuters calculations based on official data published today.

In month-on-month terms, prices rose 0.4 per cent in January, unchanged from December's rise of 0.4 per cent.

The National Bureau of Statistics said new home prices in Beijing rose 14.7 per cent in January from a year earlier, compared with December's year-on-year increase of 16 per cent. Shanghai prices were up 17.5 per cent in January from a year ago, versus 18.2 per cent annual growth in December.

China's property market began to show signs of stabilising at the end of 2013, with home price rises easing in some major cities as local governments took further tightening measures.

Reuters started its weighted China home price index in January 2011 when the NBS stopped providing nationwide data, only giving home price changes in each of 70 major cities.

Time to take a tour of the region's sharemarkets:

  • Japan's Nikkei is up 0.5 per cent
  • Hong Kong's Hang Seng is 0.7 per cent lower
  • China's Shanghai Composite index is down 1.2 per cent
  • Taiwan's TAIEX is down 0.1 per cent
  • Korea's KOSPI is 0.2 per cent lower
  • Singapore's Straits Times index is up 0.3 per cent
  • The Kiwi NZX 50 is 0.5 per cent up

Deutsche Bank has put out one of the more bearish notes on the dollar, predicting a ‘‘benign collapse’’ of the currency that could take it into the 60-US cent range by late next year.

In a note this morning, the bank says it expects the RBA to be on hold over 2014, 2015 and in the first half of 2016, but predicts a rate rise in the US around mid-2015, which would help strengthen the greenback.

"The sum of these views presents us with a somewhat dramatic conclusion for AUD/USD. Namely that it could be trading with a ‘6 handle’ – in fact well into the 60’s come end-2015," the bank’s chief economist Adam Boyton notes:

  • Critically, we would view this as a benign ‘collapse’ in the AUD; not one sparked by a domestic or offshore ‘crisis’.
  • Of course that won’t stop people constructing bearish China scenarios, or continuing to claim that Australian  housing is a ‘bubble’. (That latter claim is, we think, now entering its tenth year…)
  • Our point instead is that a much lower AUD should be considered a ‘base  case’ and reflective of a ‘central forecast’; not some ‘tail risk’ event.
  • Indeed, should the world pan out as DB expects, AUD weakness over coming years could ultimately prove to be an important element in managing the headwinds faced by Australia as the mining boom ebbs.
  • While AUD/USD to the mid-60s is a long-term view – and is conditional on DB getting the RBA, the Fed and the USD ‘right’ - this work does suggest that the risks around our current end-2015 AUD/USD forecast of 0.7500 are skewed to the downside.
  • Over the near-term, however, (i.e. over the next few months) we remain of the view that the risks to the AUD are to the upside, with the labour market likely to strengthen.

 

A move by the US Fed to lift rates in mid-2015 could push the Aussie dollar towards 65 US cents.

A move by the US Fed to lift rates in mid-2015 could push the Aussie dollar towards 65 US cents.

Australia’s biggest companies need to start spending their $71.1 billion cash pile on mergers and acquisitions this year or face the wrath of shareholders, a leading economist says.

The cash pile of almost half of ASX 200 companies grew by 44.8 per cent in 2013, as corporations tightened their belts during an election year, according to data compiled by CommSec.

Despite economic conditions still being soft, with unemployment at its highest in a decade, CommSec chief economist Craig James said now was the time for companies to loosen their purse strings.

Mr James said companies had no reason to hold on to their cash, with business confidence and conditions improving since the federal poll last September as well as consumer confidence ‘‘picking up’’.

‘‘While it was a smart move over 2013 to store up the eggs for a rainy day, now businesses have got to be on the look out for opportunities rather than be focus on risk,’’ Mr James said.

Mr James said the cash pile was spread across all sectors on the ASX.

As half-year reporting season enters its final week, Mr James said the improvement in economic conditions was ‘‘clearly evident’’ in the profit results of 98 companies on the ASX 200.

He said about 60 per cent of companies had lifted dividends, while about 25 per cent had left payouts unchanged.

‘‘But in aggregate, dividends have only lifted 3.9 per cent on a year ago.”

Read more.

 

Richard O’Brien, the man who once headed up gold juggernaut Newmont and who now spearheads the Boart Longyear recovery, must think running the world’s biggest gold company was a walk in the park compared with this drilling services business, Michael West comments:

Last year may have been Boart’s annus horribilis, but O’Brien and his team are by no means out of the woods yet. The release of Boart’s 2013 earnings this morning paints a sombre picture. Earnings as measured in EBITDA have all but evaporated, coming in at $107 million.

The split between both the halves is of more concern however: $80 million for the half to June 30 and a paltry $27 million for the six months to December 31.

This is a business that, while highly leveraged to any upturn in the mining sector, particularly exploration, may not be around in its present form by the time the cycle turns.
Its debt load remains far too high.

Management is vying, hand over fist, to continue its cost cutting program but underlying market conditions are yet to stabilise.

A few basics: Boart is carrying about $US600 million in gross debt, its annualised EBITDA run-rate applying the most recent half year is $US54 million.

The group has annualised cash interest commitments of $US52 million and its normalised capex requirements - just to maintain the drill rig fleet alone - run between $US50 million and $US75 million.

Net debt has not blown out in the past six months as Boart has undergone an aggressive working capital release. But the problem is that working capital can only be released once. Implemented cost reductions appear to be helping offset pricing declines in the high single digits.

Read more

Boart stocks are down 8.2 per cent at 39 cents.

One of the key takeaways on the sideline of the G20 meeting this week was comments by the China's central bank governor that the world's second largest economy would continue to expand about 7 to 8 per cent.

As Westpac senior currency strategist Sean Callow notes, the comments by the People's Bank of China (PBoC) governor Zhou Xiaochuan come after last year's comments from Premier Li Keqiang nominated a slower pace of growth - 7 per cent - for this decade.

"If we are looking in terms of news for the Aussie out of [the G20], China sounding pretty confident on growth and downplaying the concerns on shadow banking is a potentially positive for the Aussie," Mr Callow said.

At the same time, despite the reassurances included in the G20 communique that there would constant communicate between global central banks on the developed countries' pace of reducing their monetary stimulus, analysts said the US Federal Reserve would still continue to cut its bond purchases according to its local demands.

“[Fed chair] Yellen must have made it pretty clear that they are not the central bank for the whole world. Even if they impact the whole world, they don't consider it part of their remit," Mr Callow said.

 

Shares in Bluescope are surging on the emerging turnaround at the steel maker, which signalled firming domestic demand, along with buoyancy in North America and selected Asian countries, but with China slowing.

Shares are up 8.1 per cent at $6.415, to trade at their highest level since mid-2011.

Despite the optimism, the group was guarded in its forecast, pointing to little further improvement through the balance of the financial year. The December half net profit stood at $3.7 million, a reversal from the loss of $23.8 million a year earlier.

The underlying net profit stood at $49.1 million up from the loss of $1.6 million a year earlier.

Bluescope said the second half underlying net profit after tax "would be similar to the first half’’, taking into consideration the usual cyclicality of earnings, maintenance shutdowns and assuming the political crisis in Thailand does not materially impact on earnings there.

After several years of steep insurance price rises that hit families’ household budgets, Australians can expect smaller premium increases for their home and motor cover in 2014.

Insurance giant IAG, which owns brands such as NRMA and CGU, flagged premium rate rises of less than 5 per cent for home and motor policies – two of the most common forms of insurance for Australians.

“We’re now looking at low, single-digit price increases, if at all,” IAG managing director Mike Wilkins told The Australian Financial Review.

“It’ll be very low, and that’s a function of the input costs that we have had. If you have low inflation in your claims, you don’t have to pass it on.”

IAG’s rival, Suncorp Group, voiced similar sentiments. The company, which owns brands such as AAMI and GIO, noted price rises will slow down this year after a spate of natural disasters such as the Christchurch earthquakes and Queensland floods in 2011 forced double-digit percentage rises on home policies.

Suncorp chief executive Patrick Snowball flagged that the pressure for premiums to rise was easing, thanks to cheaper re-insurance and fewer natural disasters compared with prior years.

“You’ve got investment markets moving in the right direction, you’ve got lower natural hazard claims and you’ve got lower re-insurance costs – of course your GWP [gross written premium – a key measure of insurers’ revenue] isn’t going to grow as fast,” he said.

 

Here are this morning's roosters and feather dusters.

Shareholders in Transfield Services are crowing as the stock pops 17 per cent after the company announces a lucrative deal with the Department of Immigration to run detention centres on Nauru and Manus Island.

Beach Energy and BlueScope Steel are up strongly, the first on a big earnings boost, the second on a return to profitability.

Fairfax is another strong performer today on another round of speculation that it would sell its Domain business - this time the reports have put a $500 million price tag on the online real estate classifieds business.

Pacific Brands is down the most.

Best and worst performing stocks in the ASX 200.

Best and worst performing stocks in the ASX 200.

Hedge funds are piling into gold and crude oil as prices rally, driving the bullish money wagered by commodity speculators to the highest level since 2011.

Petrol, natural gas and soybeans were other commodities that attracted huge buying during the week that ended February 18, according to the data from the Commodity Futures Trading Commission.

The net-long or bullish money held by hedge funds and other speculators across 22 US commodity markets rose to $US119.5 billion in the February 18 week from $US102 billion during the week to February 11, Reuters calculations of the CFTC data show.

That was the highest in bullish commodity wagers held by such money managers since at least August 2011, according to a Reuters database of the CFTC data.  The gains also coincide with a larger phenomenon evident in commodity markets over the past year.

Major raw material indexes, and the commodities they track, have steadily decoupled from stock markets and foreign exchange rates over the past 12 months, charting an independent course that ends a five-year period of unprecedented correlation that began in the aftermath of the financial crisis.

Australia’s biggest insurance broking network, Steadfast Group, has reported an 8 per cent jump in net profits for the half year to December as the company continues to grow its broker numbers.

Steadfast, which made its public debut on the ASX last year, reported a 6.8 per cent rise in revenue.

“We are very pleased with the strong result from Steadfast Group Limited which shows growth in all key financial metrics from top line sales to bottom line profit,” chief executive Robert Kelly said.

“The growth of the Steadfast Network is also pleasing with the number of brokers increasing to 285 from 279 over the past six months, and offices throughout Australia and New Zealand expanding to 455 from 430.”

One of Steadfast’s growth strategies is expansion through acquisitions.

The company bought 60 per cent of underwriting agency Protecsure last year and repurchased the remaining 12.5 per cent of White Outsourcing.

Steadfast will dish out a 1.8¢ per share dividend for the period.

Beach Energy has posted a 160 per cent per cent jump in first-half underlying net profit to $158.1 million, beating some analysts’ estimates.

Net income more than tripled to $160.5 million on sales that jumped 62 per cent to $559.5 million thanks to record sales volumes for the six months of 5.6 million barrels of oil equivalent.

Beach declared an interim dividend of 1¢ per cent, as well as a fully franked special dividend of a further 1¢ per share.

Beach confirmed it had increased its stake in Cooper Energy, a smaller Cooper Basin exploration specialist, to 18.4 per cent.

It said it expected Australian dollar oil prices to remain “strong” in the second half, while oil production in the key oil fields in the western part of the Cooper Basin should flow at maximum available capacity.

Beach also flagged the flow testing this June half of five wells in its unconventional exploration play in the Nappamerri Trough plan in the Cooper Basin, as well as the completion of a deal to sell a stake in an exploration venture in Lake Tanganyika.

M2 Group has reaffirmed guidance of profit up to $70 million for the 2014 financial year after delivering a 26 per cent increase in profits during the first half.

The formerly named M2 Telecommunications recorded net profit after tax of $30.9 million for the six months to December 2013, up from $24.7 million in the same period in 2012.

The company forecasts net profit for the current financial year will rise by 48 per cent to between $60 million and $70 million, while delivering record revenue of around $1 billion.

M2 also announced a 15 per cent increase in its interim dividend, up to 11.5¢ per share. The dividend will be paid on April 16.

The telecommunications provider has delivered strong growth over the last five years, fueled by more the $500 million in acquisitions, including rivals Dodo in early 2013 and iPrimus in 2012.

The acquisitions have been funded by the expansion of M2’s net debt position, which has now increased to $289.6 million. M2 chief executive Geoff Horth has previously said the company would be moving away from its acquisition strategy to focus on organic growth and pay down debt.

In the June half, M2 added 75,000 services across its fixed line, broadband and energy services, however mobile broadband weighed on the business, down 25,000 services.

 

The McAleese Group, owner of the troubled Cootes Transport, has reported a first-half loss of $38 million after warning last week it would scrap 540 jobs and restructure its fuel haulage business in the wake of a fatal accident last year.

McAleese told investors last week to expect losses after an accident involving its Cootes fuel tankers in Sydney in October, which killed two people.

Monday’s loss included $11.4 million of costs associated with the accident, as well as a $33.3 million impairment on assets after McAleese lost key contracts with long-term customers Shell and BP and its trucks were hauled off the road in NSW and Victoria for safety inspections.

The group has received infringement notices in NSW for 222 registration breaches and 86 vehicle defects.

McAleese’s oil and gas business, which includes its fuel-tanker contracts, generated a loss of $40.1 million in the six months ended December 31.

Its specialised transport and lifting division reported underlying EBIT of $19.7 million as increased services to Queensland liquefied natural gas projects countered lower demand for its cranes.

The company’s resources division produced EBIT of $14.9 million generated by income received from haulage services provided to iron ore mines.

McAleese reported a 4.9 percent rise in revenue to $389.6 million and did not pay any dividends.

Last week, McAleese announced the resignation of Chris Keast, the former Asciano executive who headed the bulk and liquid transport division.

Power grid owner Spark Infrastructure has forecast a further increase in dividends in 2014 after posting a performance in 2013 in line with guidance.

Statutory net profit after tax fell to $128.4 million from $173.9 million, mostly due to an increase in non-cash income tax expenses. Operating cash flow rose 6.1 per cent to $189.3 million.

Spark, which owns 49 per cent of electricity distributors SA Power Networks in South Australia, and CitiPower and Powercor Australia in Victoria, declared a final distribution of 5.5¢ per share, taking the full-year distribution to shareholders to 11¢ per share, up 4.8 per cent from 2012.

For 2014 Spark directors said distributions should be 11.5¢ per share, and they restated their guidance for 2015 distribution growth of 3-5 per cent a year.

Managing director Rick Frances said the scorecard for Spark was “compelling,” with growth in revenues in the operating companies, declining net debt and continuing growth in distributions, in line with prior guidance.

“Our balance sheet has never been more strongly positioned to support growth in the asset companies,” he said.

The shares are trading flat.

 

UBS has crunched the numbers on the earnings season to date and says that altogether it's mostly in line with expectations, but that earnings growth is improving. Here are the key takeaways:

  • Australian reporting season is around two-thirds complete. In aggregate terms results have been in line with expectations, notwithstanding a fair degree of stock specific share price volatility. Revisions to UBS and consensus EPS estimates have on average been relatively flat.
  • Thematically, big miners, housing-related, discretionary retail and market-linked stocks have performed well, while bank results have been solid and mining services so far have been mixed.
  • Overall we see the standout positive results as being delivered by Boral, Breville Group, Domino Pizza Enterprises, Fairfax Media, REA Group and Seek Limited.
  • Most disappointing/weakest have come from Bradken, Coca-Cola Amatil, Cochlear, Goodman Fielder, Pacific Brands and UGL Limited.
  • In fundamental terms, earnings growth is improving, helped by better revenues (partly due to the lower A$) and moderately higher margins (due in large part to cost cutting).
  • We see minimal risk to FY14 earnings growth in an aggregate sense (+14%y/y for the market and +9%y/y for the market ex resources).

Caltex Australia has reported a 27.5 per cent fall in full-year profit to $332 million, in line with its December forecast of $320 million-$340 million.

Bottom line net income, which includes the impact of changing oil prices on the value of crude oil stockpiles, surged more than nine-fold to $530 million from $57 million the previous year, when Caltex took $309 million of charges connected with the conversion of its Kurnell refinery in Sydney to an import terminal.

Caltex’s underlying earnings were lifted by growth in fuels marketing thanks to rising demand for premium fuels. But the refining business dragged down earnings, posting losses of $171 million and supporting the company’s decision to rationalise its refining business.

“Whilst marketing has delivered another record result, refining and supply losses have been driven by the negative impact of key externalities, including the significant deterioration in the Caltex refiner margin during the second half and a continuing fall in the Australian dollar,” chief executive Julian Segal said.

“This has led to the lower full year result.”

Caltex declared a final dividend of 17¢ per share, taking the full year payout to 34¢ per share. The full-year dividend compares with a total payout of 40¢ per share for 2012 and reflects the company’s decision to reduce the payout ratio while it is investing in the conversion of the Kurnell refinery.

The refinery is on track to be converted into an import terminal by the fourth quarter of this year, Caltex said.

The stock is trading 1.6 per cent higher.

 

Shares in Transfield Services are up 14 per cent this morning after the company announced that is had received a “letter of intent” from the federal government Department of Immigration that it would be awarded a $1.2 billion contract to provide “garrison and welfare services” at the Nauru and Manus detention centres.

The company said in a statement that it had already started the “mobilisation and transition process”, with a formal handover from the beginning of March.

David Jones is preparing to start talks with rival department store chain Myer to better understand a $3 billion merger proposal, in a sign David Jones could be more open to discussions following this month's board purge.

It is believed David Jones will engage with Myer in the next fortnight but remains convinced the original Myer proposal made in October does not properly value the Sydney-based retailer.

Sources close to David Jones said it was not opposed to a deal in principle and had run the numbers on a merger or acquisition of Myer almost every year in recent times as part of its strategic planning and review processes.

But the David Jones board and its advisers are waiting to see evidence from Myer that it is prepared to offer a price they believe reflects DJs' true value.

''The company is not against a merger as long as it's on the right terms - it always comes down to price,'' one Myer insider said.

Read more.

 

Share have opened a tad higher, with the ASX 200 up 2 points in early trading to 5440.7, despite a number of large companies being sold off as they trade ex-dividend.

Telstra is down 3.2 per cent, Wesfarmers 2.2 per cent, Woodside 2.3 per cent, while Suncorp is 3.1 per cent lower.

Pushing the market higher is BHP, which has added 0.6 per cent, with Rio also 0.8 per cent and Fortescue 1.7 per cent higher. Woolworths has added 0.7 per cent. ANZ is the best of the big banks, up 0.8 per cent.

One of the big movers this morning is BlueScope Steel, which announced its return to the black this morning; the stock has jumped 8.2 per cent.

Coal miner New Hope Corp has provided guidance that net profit for the half year ended 31 January is anticipated to be within the range of $21 million to $23 million when the company reports on March 25.

 “The result for the current period has been [affected] by continuing weakness in thermal coal prices and a relatively high Australian dollar,” said the company in a statement.

“Despite the difficult coal market conditions, management remain focused on maximising long term shareholder value by continuing to deliver prudent cost reductions and operational efficiencies,” the company said.

Fairfax Media's $200 million radio merger talks with John Singleton's Macquarie Radio Network have collapsed after it became clear that star Macquarie presenters Alan Jones and Ray Hadley were not prepared to be part of the proposed deal.

It is the second breakdown in two years of talks over a combination of Fairfax's top-rated Melbourne station 3AW with Macquarie Radio's 2GB, the home of Jones and Hadley.

The joint venture would have controlled leading talkback stations in all the mainland capital cities except Adelaide, making it a stronger proposition to sell to advertisers, and would have had earnings of $32 million before interest, tax, depreciation and amortisation.

It is understood that Jones and Hadley - Macquarie's top talent - could not be persuaded to become part of a joint venture controlled by Fairfax.

Read more

In addition to the announcement of a partnership with Origin Energy (see below), Senex has posted a 9 per cent increase in first-half net profit to $25.6 million.

Underlying profit climbed 37 per cent to $31.8 million on revenue that climbed 14 per cent to a record $88.3 million.

Mr Davies said the improved profits stemmed from “solid” production and high Australian-dollar oil prices.

He said production should increase in the second half of fiscal 2014 after successful drilling across its oil fields in the Cooper-Eromanga Basin.

Aspen Group has reported an 8.4 per cent rise in revenue to $15.9 million for the half-year ended December 2013.

But it was a tough six months for the real estate management and development company, which recorded a statutory loss of $70.2 million, compared with 23.5 million in the first half of the year, thanks primarily to impairments and losses on assets sold or held for sale.

The group’s operating profit fell 21.8 per cent to $8.28 million. Net tangible assets per security fell to $1.65, compared with $2.20 in June 2013.

“Our focus since August last year has been on executing a transition of the business to be focused on “value for money” accommodation. Progress on this transition has not been without its challenges,” Aspen chief executive officer Clem Salwin said in a statement.

“In particular, we have experienced the impact of very difficult market conditions arising from the much weaker capital expenditure cycle in the resources sector. This has resulted in recognition of impairments to the carrying value of some of our assets. We have also taken additional impairments as we progress our sales programme of assets.”

NIB has outpaced its health insurance peers to grow its number of members at a faster rate than the industry, contributing to a 9 per cent rise in interim net profit to $39.7 million that has beat analysts expectations.

The company said it was able to fight against competitive pressures and “unhelpful regulatory changes” to grow its policyholder base by 2.6 per cent in the six months ended December 31, compared to an industry-wide growth rate of 1.1 per cent.

Chief executive Mark Fitzgibbon said the company was on track to delivery policyholder growth of 4 per cent over the full year, but warned the company’s underwriting profitability was under pressure.

“With ongoing overall healthcare claims inflation of between 6 per cent to 7 per cent, escalating cost shifting by public hospitals and an increasingly counter productive system of risk equalisation, our underwriting margins continue to be under constant pressure,” Mr Fitzgibbon said in a statement on Monday.

The company declared an interim dividend of 5.25¢, which was 0.25¢ higher than the prior period. The dividend will be paid on April 4.

The company said the government’s approval of a 7.99 per cent premium increase, which was the largest received by any private health insurer and will come into effect on April 1, would help to maintain its net margin within the target range of 5 to 5.5 per cent.

Read more.

Origin Energy has made a significant commitment to join Senex Energy in an unconventional gas exploration program in the Cooper Basin, which will see a total $252 million in investment.

Origin will invest $97 million in exploration in two blocks that will test various unconventional gas plays, including tight sands, shale and deep coal seams. The investment will earn it a 40 per cent stake in one area, and 30 per cent in a second region.

Senex is to remain as operator of both areas, while Origin will take the lead on the technical work program. The larger company would be able to take over as operator after the second stage of work.

The two-stage work program will involve drilling at least 15 wells as well as substantial seismic work.

Senex managing director Ian Davies said Origin was the ideal partner to join it in investigating the Cooper Basin’s significant potential for unconventional gas.

“Origin has built an unrivaled position in the eastern Australian gas market and has access to international markets through its APLNG export facilities in Gladstone,” Mr Davies said in a separate statement.

 

Drilling services firm Boart Longyear has posted a full-year loss for 2013, due to continuing weakness in the global mining industry.

Net loss after tax, excluding one-off charges, was $US94 million for the year ended December 2013, compared with a net profit of $US116 million a year earlier. That compared with the average analyst forecast of a net loss of $US96.34 million.

Also at the G20 meeting, China led developing markets in hitting back at the US as India and South Africa kept up pressure on the Federal Reserve to consider the spillover effects of tapering its bond-buying program.

After Treasury Secretary Jack Lew questioned the pace of China’s economic opening, Chinese Finance Minister Lou Jiwei hit back, saying the US recovery had been buoyed by monetary policy rather than structural changes.

Lou said while developed countries now seem very positive about their growth prospects, “that may not be totally true”.

“Take the US for example: Its recovery is being helped by monetary policy and not much by structural adjustment,” he said. “They have always been saying that China should boost its consumption ratio and the US should boost its investment ratio, but that structural change is not happening in the United States.”

Indian central bank Governor Raghuram Rajan said countries should ensure tightening doesn’t upset the global economy and is done in a measured way.

“The tension is likely to continue,” says Nomura chief economist Tomo Kinoshita. “China is on the side of the emerging economies rather than on the side of the advanced economies.”

 

Engineering group Monadelphous has announced it has been awarded a construction contract worth around $680 million for mechanical works at the Ichthys project onshore LNG facilities in Darwin.

The shares had been placed in a trading halt on Friday afternoon pending the announcement.

Work will commence immediately and is expected to be completed by mid-2016, the company said in this morning’s statement to the ASX.

The Ichthys LNG project is a project to develop the Ichthys gas and condensate field discovered in the Browse Basin approximately 220 kilometres off the north-west coast of Western Australia.

It is a joint venture between INPEX group companies, major partner Total and the Australian subsidiaries of Tokyo Gas, Osaka Gas, Chubu Electric Power and Toho Gas. 

In case you missed it, the G20 central bankers and finance ministers met for a pow-wow in Sydney over the weekend. Strengthening global growth was high on the agenda, as were emerging market worries about the effects of the Fed's cutback in stimulus.

But reporters also used the opportunity to ask the respective central bankers about the problems they face at home, and one of the most pressing ones for Europeans is the threat of deflation in the eurozone.

ECB president Mario Draghi said policy makers are ready to add to stimulus if the outlook for prices deteriorates, but he denied that there are currently signs of deflation in the euro area:

  • We don’t have any evidence of people postponing their expenditure plans with a view to buying the same thing at lower prices, in other words we don’t see what is defined to be deflation.
  • We are aware of the risks. The Governing Council is willing and ready to take any action in case these risks were to gain strength.

Economists are divided over whether the Frankfurt-based ECB will increase stimulus to counter the risk of deflation after euro-area inflation slowed to 0.7 per cent in January, less than half the bank’s 2 per cent target.

Draghi said the council will have “the full set of information needed for deciding whether to act or not” by its next policy meeting on March 6 in Frankfurt, when it will publish a 2016 inflation projection for the first time.

G20 group photograph of the g20 finance delegates

G20 group photograph of the g20 finance delegates Photo: Dominic Lorrimer

Steelmaker BlueScope has forecast little change in second half earnings after it reported profits only slightly better than break even in the December half.

The December half net profit stood at $3.7 million, a reversal from the loss of $23.8 million a year earlier. Underlying net profit stood at $49.1 million, up from a loss of $1.6 million a year earlier.

Bluescope said the second half underlying net profit after tax "would be similar to the first half, taking into consideration the usual cyclicality of earnings, maintenance shutdowns and assuming the political crisis in Thailand does not materially impact on earnings there".

The earnings turnaround in the December partly benefited from higher volumes and improved margins, it said.

Read more.

There are many swirling breezes at present and it may be hard for investors to determine where things are at present, but central banks remain the key, writes Perpetual’s head of investment market research Matt Sherwood.

[China's central bank] is reducing liquidity to reduce credit growth and improve poor lending standards; the Bank of Japan is doing the opposite; whereas a couple of US Fed [governors] talking about hiking rates later this year is nothing new.

I think that the first half of this year is likely to be a bit softer in terms of activity growth due to unfavourable trends in the global inventory cycle, global energy prices and the US housing recovery, which has paused due to the US Fed’s monetary adjustment.

Yet global investors seem to be over-emphasising the impact of a US weather and Chinese New Year and rallying even though if the former was the entire cause of the slowdown, earnings growth would still be impinged, at least temporarily.

At this time, investors need to continue their focus and hunt for attractively valued quality companies, in the knowledge that starting valuations are a much more important driver of long-run returns than earnings.

With volatility likely to continue and growth strengthen in the second half of the year, any short-term price decline could be used as a better entry point for investors, yet they need to continue to look for strong balance sheets and robust operating models as they provide downside protection and upside potential.

In a quiet start to the earnings week, here are some of the larger companies reporting today:

  • Beach Energy
  • BlueScope Steel
  • Boart Longyear
  • Caltex Australia
  • M2 Group
  • NIB Holdings
  • Senex Energy
  • Sky Network
  • Spark Infrastructure

The following companies are trading ex-dividend:

  • Suncorp
  • Telstra
  • Wesfarmers
  • Woodside

Local stocks are poised to little changed as investors search for new buy catalysts.

Here's what you need2know:

  • SPI futures down 1 point at 5413 on Monday morning
  • AUD at 89.81 US cents at about 9.10am AEST on Monday
  • On Wall St, S&P 500 -0.19%, Dow -0.19%, Nasdaq -0.1%
  • In Europe, Euro Stoxx 50 +0.32%, FTSE100 +0.37%, CAC +0.59%, DAX +0.4%
  • Spot gold gains $US1.28 to $US1324.25 an ounce at 5pm in New York on Friday
  • Brent oil down 50 US cents to $US109.80 per barrel at 5pm in New York on Friday
  • Iron ore little changed, down US0.54c to $US122.40

Read more.

Good morning and welcome to the Markets Live blog for Monday.

Your editors today are Jens Meyer and Patrick Commins.

This blog is not intended as investment advice.

BusinessDay with wires.

 

Quotes Search

Sort comments by:
  • Cash Converters shares are worth 90 cents surely?

    Commenter
    Durrie Muncher
    Location
    Date and time
    February 24, 2014, 5:02PM
  • "More than $15,000 of taxpayers' money was spent on a second custom-built bookcase to house Attorney-General George Brandis' extensive collection of books and law reports."

    Someone buy this twit an ereader. Oh and it has the added advantage that you can search eg for terms like "dereliction of duty".

    Commenter
    Allan
    Location
    Prahran
    Date and time
    February 24, 2014, 5:00PM
    • and "self-indulgence", "delusions of grandeur" and "abuse of power",

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 5:12PM
  • I took Allanah's advice and checked domain for property prices in the suburbs she suggested, whereupon I have come to the following inescapable conclusion.

    If I (yes I....)...If I cannot afford a 4 bedroom house in Albert Park, Hawthorn or Toorak, it follows logically that prices are at least 40% OVERVALUED and are primed for imminent collapse to at least that value!

    When I can buy a 4 bedroom house close to my favourite hip café prices will then reflect fair value!

    Commenter
    Glass half EMPTY
    Location
    Prahran
    Date and time
    February 24, 2014, 4:39PM
    • All bubbles burst. Try not to be too alarmed.

      Commenter
      Allan
      Location
      Prahran
      Date and time
      February 24, 2014, 4:53PM
  • The evidence is mounting day-by-day http://www.news.com.au/national/breaking-news/more-record-hot-days-in-past-decade-bom/story-e6frfku9-1226836071775 but like the frog in the pot being brought slowly to the boil, will we have the sense to do anything about it. If you bother to read the article you will see that the Libs are in denial, so no hope.

    Commenter
    mitch of ACT
    Location
    Date and time
    February 24, 2014, 4:32PM
  • I'm sure most of you have noticed that right at the end of trade for the last few days the chart has shown a sharp upward kick. Does a trader have a bet going.that that will happen.

    Commenter
    mitch of ACT
    Location
    Date and time
    February 24, 2014, 4:27PM
    • Yes I have been wondering what that is all about

      Commenter
      BoB
      Location
      Franga
      Date and time
      February 24, 2014, 4:37PM
    • Allan moving the market like $oro$

      Commenter
      no banks .. no party!
      Location
      Date and time
      February 24, 2014, 4:42PM
  • "He he that's easy, the bubble can't be inflated anymore. Sydney prices have been flat for a decade because the bubble there was formed before 2003. Simple really.

    FHB's have deserted the market because they won't pay half a million for a house 2hrs from the city that is really only worth $300-350K."

    Hehe! What on Earth is this nonsense I'm reading. I'm speechless. If Sydney prices have indeed been flat for 10 years as you claim, then surely taking into account inflation, 'real prices' have already collapsed over 30%, which begs the question, 'what in heaven's name is your problem?' Speak some sense man!

    Secondly you are being completely disingenuous about prices in the suburbs mentioned where $350K can buy you a 3 bedroom house! If we can't use HONEST figures about this what's the point!

    Commenter
    Allanah
    Location
    Prahran
    Date and time
    February 24, 2014, 4:26PM
  • "The Australian dollar could face a "benign collapse" to US66¢ by the end of next year amid falling commodity prices, declining mining investment and reduced government spending, Deutsche Bank says in one of the most bearish forecasts for the local currency."

    Housing boom!

    Commenter
    Allan
    Location
    Prahran
    Date and time
    February 24, 2014, 4:22PM
    • I don't like the word...collapse; more like...correction, whether it is currency, economy as a whole, real estate etc...they need and will be corrected.

      Commenter
      Correctable
      Location
      Sydney
      Date and time
      February 24, 2014, 4:40PM
  • On ch24, reports of a study by the NRMA that Australia is currently importing 91% of its fuel and that will be 100% in 16 years. We have an ever diminishing capacity to refine our own fuel as highlighted by Caltex's report today. How long will the petrol in your car's tank last in the event of a severe disruption to supply and how much food do you have in your pantry. All it takes is for a regional tension to get hot.

    Commenter
    mtch of ACT
    Location
    Date and time
    February 24, 2014, 4:22PM
  • My gf and I have recently been looking for a nice rental property in Melbourne (the best city in the world in my humble). We have been really blown away by how many cheap nice apartments there are available like this one:

    http://www.realestate.com.au/property-apartment-vic-southbank-412473703

    So for $550 a week we can live in luxury at Southbank within walking distance of the CBD with city views, pool, gym, secure parking etc.

    Commenter
    Renters Paradise
    Location
    Date and time
    February 24, 2014, 4:19PM
  • Will Boart Longyear raise capital at a price higher or lower than Billabong's 28 cents a share?

    Commenter
    Ding Dong
    Location
    Date and time
    February 24, 2014, 4:03PM
  • First day trade. Given their excellent results - couldn't resist BPT at open at $1.52. Sold at $1.69131. I've missed a few profit taking opportunities lately (eg. LEI at >$18) so decided to grab this one.

    Commenter
    Yin or yang
    Location
    Date and time
    February 24, 2014, 3:58PM
    • yeah...a what value to you give a LEI share?...what's a fair price?

      Commenter
      no banks .. no party!
      Location
      Date and time
      February 24, 2014, 4:09PM
  • Robert De Niro and James Paker...

    Featuring in..."Of mice and Men". A real story based on James' memoires.

    Commenter
    Mr Goldman
    Location
    Hollywood
    Date and time
    February 24, 2014, 3:42PM
  • A cow for her milk. A hen for her eggs, And a stock, by heck, for her dividends.

    An orchard for fruit. Bees for their honey, And stocks, besides, for their dividends

    too easy.

    http://www.smh.com.au/business/markets/global-dividends-surpass-us1-trillion-for-first-time-20140224-33ccs.html

    Commenter
    no banks .. no party!
    Location
    too easy
    Date and time
    February 24, 2014, 3:40PM
    • This story really implies that the person in the (dividend) question is not making much money in dividends; otherwise, she could simply bank the dividends and go to Coles or the like to purchase her every need. Why would she keep all these animals to provide her necessities?...because the dividends are crap. Back to the cow, the chicken and the farm...

      Commenter
      No banks...No Farm
      Location
      Sydney
      Date and time
      February 24, 2014, 4:03PM
    • lol...ok.

      Commenter
      no banks .. no party!
      Location
      its not that hard
      Date and time
      February 24, 2014, 4:38PM
  • Buy at your own peril before the close, the US is going to have a down session tonight, well overdue.

    Then buy on the dip tomorrow, too easy mate!

    Commenter
    Liberace
    Location
    Prahran
    Date and time
    February 24, 2014, 3:39PM
    • hope so.

      Commenter
      no banks .. no party!
      Location
      Date and time
      February 24, 2014, 3:53PM
    • Is that YOU behind the calendarbra?

      Commenter
      Joe the POM
      Location
      Geelong
      Date and time
      February 24, 2014, 4:08PM
    • Not all is well in the US. Wal-Mart sales are down and so is pre-market trading by 42.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 4:19PM
  • From a purely selfish point of view I hope the gold price remains at current levels until I go to Thailand for my vacation, going to spoil the missus with a few new shiny items.

    After that it can kick the living daylights of the shorters, best of both worlds..

    Commenter
    Gold Balls
    Location
    Date and time
    February 24, 2014, 3:36PM
    • Thailand, don't forget your bullet-proof vests.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 3:59PM
  • If criminals don't like risk and don't invest in the stock markets, what do they invest in? Perhaps they prefer something tangible, real, a storage of value and hopefully even generating a regular weekly income...Real Estate? no, it couldn't be.

    Commenter
    Agent
    Location
    Sydney
    Date and time
    February 24, 2014, 3:23PM
  • Is it time we put Boart Longyear Ltd. (BLY) out of its misery?

    Commenter
    Ferocious Shorter
    Location
    Date and time
    February 24, 2014, 3:11PM
  • Why would anybody be interested in a merger between DJS & MYR. 2 dinosaurs fighting to preserve their last little bit of territory in the face of relentless competition from all of the menaces of the 21st century way of doing things. No cash between to make the offer appealing altho DJS does have $600m in property assets and I think that is the main prize being sought in order to strip the cash value of that property out then leave those dinosoaurs to their fate as the meteor strikes.

    Commenter
    mitch of ACT
    Location
    Date and time
    February 24, 2014, 3:05PM
  • AZV and CAJ both up 7.5% today! Stops set, locked and loaded for big profits. Sadly I will probably get stopped out tommorrow :(

    Commenter
    Navy
    Location
    Navy
    Date and time
    February 24, 2014, 2:58PM
  • "Average new home prices in China's 70 major cities rose 9.6 per cent in January 2014 from a year earlier, easing from the previous month's 9.9 per cent rise, according to Reuters calculations based on official data published today"

    http://www.bloomberg.com/news/2014-02-24/china-s-stock-index-futures-drop-on-property-financing-concerns.html

    Commenter
    NSMR
    Location
    Date and time
    February 24, 2014, 2:55PM
  • Can anyone advise on what they think is the best way to onvest in the asx20 through commsec. ILC?

    Commenter
    Ryan
    Location
    Date and time
    February 24, 2014, 2:40PM
    • ymax mebbe?

      Commenter
      mushy
      Location
      Date and time
      February 24, 2014, 3:29PM
  • "Ructions over Santos's unimpressive earnings and poor reserves data released last Friday are continuing"

    $14 in 2007 now $13 in 2014 LMFAO! What an absolute NOTHING stock!

    Commenter
    Don't tell the perma bulls
    Location
    you know how angry they get
    Date and time
    February 24, 2014, 2:28PM
    • News Flash! Who cares Walter Cronkite? Of the 25 reading this thread who would own this rubbish? You have a habbit of commenting on rubbish stocks Walter.

      Commenter
      I love Walter
      Location
      Croncite
      Date and time
      February 24, 2014, 3:26PM
    • You seem to live in the past a lot cobber, 2007, who really cares, what I am concerned about is how much I am making in this bull run in the last 3 weeks, not to mention the juicy divs...certainly more relevant!

      Commenter
      Ellen
      Location
      Prahran
      Date and time
      February 24, 2014, 3:47PM
  • "Australia's biggest companies need to start spending their $71.1 billion cash pile on mergers and acquisitions this year or face the wrath of shareholders, a leading economist says." http://www.smh.com.au/business/markets/big-business-urged-to-unlock-711-billion-cash-stash-20140224-33bpb.html Why spend all of that cash on mergers & acquisitions. Is that the best that they can come up. with M&A's do little to foster growth but reduce competition and increase unemployment as synergies between merged businesses usually mean that those whose jobs are duplicated in a merged enterprise get the sack. Haven't they heard about building and developing their own businesses or is that a tacit admission that there is no incentive offered by the weak Australian economy to expand other than by taking over someone else's business.

    Commenter
    mitch of ACT
    Location
    Date and time
    February 24, 2014, 2:21PM
    • @mitch
      We only have to:
      Buy and sell businesses...
      Buy and sell properties...
      Generate Fees...
      All else is vanity...

      Creating "new jobs"...LOL
      That's very unAustralian indeed.

      Commenter
      Broker
      Location
      Sydney
      Date and time
      February 24, 2014, 2:37PM
    • Because M&As are business for bankers..... Mitch get with the program champ...
      Further your should probably take the shpeil with a grain of salt... Craig James.... meh.

      Commenter
      Bye Bye Fiat Money
      Location
      Date and time
      February 24, 2014, 2:50PM
    • Tacit admission Mitch
      Zero sum game. Cant grow w/o hurting similar Co's.
      eg: FGE kaboom

      Commenter
      mushroom
      Location
      Date and time
      February 24, 2014, 2:51PM
    • @Mitch, I agree M&A is an easy out for an industry player to drum up business to pull fees in the advisory services. Investing this money to start-ups (some innovation) and infra (jobs) would be far better for everyone

      Commenter
      Wwwish Lion
      Location
      Melbourne
      Date and time
      February 24, 2014, 3:15PM
  • "...Rising demand for physical gold in China is seen as one of the reasons behind the recent recovery in the precious metal’s price"

    My prediction is coming to fruition....i.e. The Chinese will start purchasing Australian Real Estate with solid gold, one bracelet...2bdr unit in Hurstville; one necklace...a studio in Sydney CBD; gold ring & diamond...4bdr house in Burwood...
    any other...different houses in North Sydney. I love it. I won't accept AUD any longer...I want to get paid in Gold. The mighty Dragon is coming...and I love it.

    Commenter
    Dragon Servant
    Location
    Sydney
    Date and time
    February 24, 2014, 2:14PM
  • Oh for Heaven's sake do some of your own research. Log into domain.com.au and pop the following suburbs: Epping, Lalor, Melton, Cranbourne, Hoppers Crossing, Point Cook etc, etc, etc.... There before your very eyes you will see Melbourne property prices are still indeed very reasonably priced. Unfortunately peoples' expectations and demands aren't!

    I'm not saying trendy inner city homes haven't been bid up. However, again basic maths. 4.3 million people. Far, far, far fewer inner city homes. What do you think will happen to prices??? It has been thus, it is thus and will always be thus. Can we please move on from this incessant whinging and moaning about high property prices.

    Also my friend Allan still hasn't answered the apparent paradoxical tautology of how prices can possibly be in a 'bubble', if 'real prices' have not moved in 10 years!!!!????????

    Commenter
    Allanah
    Location
    Prahran
    Date and time
    February 24, 2014, 1:38PM
    • Compare it to average wages......it should be 4x not 7-8x

      Commenter
      linux
      Location
      Date and time
      February 24, 2014, 1:46PM
    • Ha, ha, where all the highly paid unionised manufacturing workers live.

      Boom!

      Commenter
      Jim
      Location
      Date and time
      February 24, 2014, 1:53PM
    • I normally ignore all content on this blog re housing but I must say your last point is spot on.

      Commenter
      Yin or yang
      Location
      Date and time
      February 24, 2014, 2:02PM
    • He he that's easy, the bubble can't be inflated anymore. Sydney prices have been flat for a decade because the bubble there was formed before 2003. Simple really.

      FHB's have deserted the market because they won't pay half a million for a house 2hrs from the city that is really only worth $300-350K.

      Commenter
      Allan
      Location
      Prahran
      Date and time
      February 24, 2014, 2:05PM
    • In Perth there is no more talk of a tight rental market, no more talk of low vacancy rates, no more talk of rising rents.
      As it is no longer true.
      In fact the silence is deafening.
      Wouldn't want to spook people.
      REIWA lists 5009 properties to rent in Perth as of now, most are empty and available NOW!

      Commenter
      Perth Girl
      Location
      It's in Australia too
      Date and time
      February 24, 2014, 2:09PM
    • I can attest to that. A year ago I was looking at renting a room in outer 'burbs for $160+, now people are asking $120, even $110 negotiable. Looking at domain's map view of properties for sale brings up entire suburbs covered in red markers. Makes me wonder if anyone actually lives there, if everyone's trying to sell up!

      Commenter
      panda
      Location
      perth
      Date and time
      February 24, 2014, 3:12PM
    • "Makes me wonder if anyone actually lives there, if everyone's trying to sell up!"

      Hahahahaha

      Commenter
      Head Patter
      Location
      Date and time
      February 24, 2014, 4:06PM
  • would have been a while since you have seen a divi old mate!

    Commenter
    Gordon Bleu
    Location
    Broadbeach
    Date and time
    February 24, 2014, 1:36PM
  • 1.22 billion to run both offshore detention centres

    That's a whopping payout to mates so they can demonise asylum seekers.

    Oh and Scott, they are not illegal arrivals. It is not illegal to seek asylum. It is illegal though to unlawfully kill an asylum seeker in your care.

    Commenter
    Allan
    Location
    Prahran
    Date and time
    February 24, 2014, 1:33PM
    • Allan, we're very Liberal with the country's money and we're surely very Liberal with our force...it's just the way we like things, very...Liberal.

      Commenter
      Liberal Member
      Location
      Sydney
      Date and time
      February 24, 2014, 2:51PM
    • Hardly a boasting point that you're running Tony Abbott's concentration camps.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 3:24PM
    • 1.22 billion?? I wonder how much that equates to per detainee.

      Commenter
      Bo
      Location
      Date and time
      February 24, 2014, 5:07PM
  • Any thoughts on DTL? Has had a rough run lately.

    Commenter
    Gumly
    Location
    Mackay
    Date and time
    February 24, 2014, 1:29PM
  • "2013 also represents the slowest growth for dividends in the post-crisis era."

    Housing boom!

    Commenter
    Allan
    Location
    Prahran
    Date and time
    February 24, 2014, 1:12PM
    • I love my dividends..

      Commenter
      Ellen
      Location
      Prahran
      Date and time
      February 24, 2014, 1:20PM
    • Seems more relevant to our patch...

      "The Asia-Pacific region, where Australia is the dominant source of dividends ahead of Hong Kong, grew 79 per cent over the same period."

      Read more: http://www.smh.com.au/business/markets-live/markets-live-bluescope-bounces-back-20140224-33b6q.html#ixzz2uCcKS7fh

      Commenter
      BearShapedBull
      Location
      MugPunters Lounge
      Date and time
      February 24, 2014, 1:26PM
    • yep...it's the end of the world!

      Commenter
      shorter stalker
      Location
      Date and time
      February 24, 2014, 1:44PM
  • I think you guys are a bit harsh and maybe don't appreciate the process that is gone through in releasing announcements to the market. It is not as simple as just saying release things when they are known.
    In a world where litigation firms are foaming at the mouth to sue over one wrong word, it is the practice that all directors and often the company's lawyers, auditors and advisors need to sign off on announcements that have generally been crafted overnight. Trying to get sign off from maybe 15 people can be difficult because invariably some are on the phone and some are travelling. Then, when someone wants something changed, the process has to start again, and invariably people who thought the matter was finished have moved onto other things.
    If companies sometimes do release a bit later than ideal, it is not due to laziness or mischief, but simply the process that the system requires companies to go through.

    Commenter
    pass the red
    Location
    Date and time
    February 24, 2014, 1:11PM
    • Then call a Trading Halt until they have it all sorted out. The longer delays go on, the more likely it is that sensitive information leaks out and traded accordingly to the disadvantage of the uninformed market.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 1:21PM
    • gotta have time to call those "in the know" to sync...ok all ready hit the "sell" "buy"
      increased volumes traded in the hours leading up to the announcement...nah thats just the market for you.

      Commenter
      BearShapedBull
      Location
      MugPunters Lounge
      Date and time
      February 24, 2014, 2:01PM
    • I understand what you are saying but not a good enough excuse - there's lots of money at stake. I agree with MItch (often do) - if company X needs more time - call a trading halt. Good example was MND late Friday.

      Commenter
      Yin or yang
      Location
      Date and time
      February 24, 2014, 2:05PM
    • You do realise Mitch that you can't just "call a trading halt"? There is a process of application that has to be gone through, that would take longer than finishing what you are working on in the first place. The ASX has to approve trading halts, and its predisposition is to reject them, because its job is to facilitate trading, not to stop it.

      Commenter
      pass the red
      Location
      Date and time
      February 24, 2014, 2:08PM
    • @pass the red, not often I say this but that's rot. If a company's officer notifies the ASX that it has sensitive information but is not in a position to immediately lodge a formal announcement a Trading Halt can be called there and then. It is common to see a company kept in pre-open well past the opening bell or to go into pre-open during trading hours with no formal notice lodged. A Trading Halt notice may be lodged and/or the company opens when the market sensitive information is released. The ASX has a legal responsibility to ensure that there is a market AND that market operates within the rules.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 2:43PM
    • Sorry, Mitch, but it's not 'rot" at all. I was a senior company exec for over 25 years and have personally made announcements numbering into the hundreds. And I've called for more than a few trading halts in my time. A company would only ask for a trading halt if it felt there had been a security breach and some external sections of the market had learned something that others hadn't. The mere fact that it is 10.20 Sydney time and approval of a release is imminent from two final parties is not a reason to have stopped trading as long as the market is on a level playing field.

      Commenter
      pass the red
      Location
      Date and time
      February 24, 2014, 3:45PM
    • @pass the red, those habits sound like an easy cop-out for insider trading to take place. My understanding from what I was told by the ASX when I brought several instances to their attention are that the rules are a lot tighter now and rely on not allowing any trading to take place if there is a chance of an "uninformed market":

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 4:14PM
  • "Shanghai Composite down 2%"

    "Chinese property stocks being absolutely thumped"

    LMAO!

    Commenter
    Gordon Akman
    Location
    Broadbeach
    Date and time
    February 24, 2014, 1:08PM
  • Rug got pulled eds 'turnaround turned around"

    Commenter
    BearShapedBull
    Location
    MugPunters Lounge
    Date and time
    February 24, 2014, 1:07PM
  • Hey guys I was just perusing the BRW Rich List and none of the people on it listed their primary source of wealth as "Buying houses with debt and renting them out". Why is that do you think?

    Commenter
    My life >
    Location
    your life
    Date and time
    February 24, 2014, 1:06PM
    • Whom is this post directed at? What is the point of this post? Property troll you have the wrong thread..... here we predict the great stock market depression, not property.... move along... smartly! yes quick quick shoo shoo!

      Commenter
      This is....
      Location
      .... Markets Live?
      Date and time
      February 24, 2014, 1:21PM
    • You mean property developers? Makes up at least 1/2 of the rich list. You dont get rich doing it with one house, only with 200 at a time

      Commenter
      asdf
      Location
      Date and time
      February 24, 2014, 3:10PM
    • @asdf thanks for clarifying. Here I was thinking property developers made their money from selling residential properties not buying them... LOL

      Enjoy!

      Commenter
      Pulling wings off flies
      Location
      Date and time
      February 24, 2014, 3:25PM
  • @1211 duetsche bank,thanks for that,how bout fixing your own backyard before looking over our fence,we've got our own "jawboners" doing their best to talk it down,so leave it up to the hedge funds and speculators to find the real value.....daily.not 2 years ahead thats just thrusting knifes into darkness. Alot can happen at any given period which could change everything either way,so are you going to short our currency with a lazy 3 trillion to make sure it happens,oh thats right we havent started printing free money yet have we.

    Commenter
    BearShapedBull
    Location
    MugPunters Lounge
    Date and time
    February 24, 2014, 1:05PM
  • See the photo posted @9.32 on this blog...apparently they were shown a spreadsheet of Allans shorts this year.

    Commenter
    no banks .. no party!
    Location
    Date and time
    February 24, 2014, 12:46PM
  • FMG going from strength to strength!

    Shorters must be in a lot of pain! I like it!

    Commenter
    Pig Iron Bob
    Location
    Pilbara, WA
    Date and time
    February 24, 2014, 12:45PM
    • It was $6 six years ago. Massive new supply and falling demand will fix it right up. LOL.

      Commenter
      Charlie Aithen
      Location
      Date and time
      February 24, 2014, 2:07PM
  • Where are the next big profits to the banks coming from? The super accounts of the gullible.

    Adviser rules to change to pretty much become sellers of the biggest commission AND bank products. There was a reason this stuff was changed. Many retired lost everything. Banks and Insurance have pressured the morally bankrupt LNP into reversing possibly the only good policy Labor ever made.

    Commenter
    JohnBB
    Location
    Date and time
    February 24, 2014, 12:34PM
    • Yes Johnbb, more Liberal damage for Labor to undo.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 1:31PM
  • Total QAN dividend year 2000, .48, then drops way off the following year.

    what an idiotic company and business...why would anyone ever go long...

    Commenter
    no banks .. no party!
    Location
    Date and time
    February 24, 2014, 12:30PM
  • The market will crash exactly when G-d wants it to. If you hav't already you may want to check out what happens when Nations have tried to divide Israel, like will be attempted in April this year.

    Commenter
    Ryan
    Location
    Date and time
    February 24, 2014, 12:21PM
    • Israel? Do they still believe in the God El?

      that's weird, perhaps they should go for the brother...Ea.

      Commenter
      Ancient
      Location
      Luxor
      Date and time
      February 24, 2014, 12:49PM
    • I said earlier in these pages that I had graphed the AllOrds for the years 9/10 to 12/13 inclusive on top of each other. The composite graph shows a consistent downturn occurring from mid-April for all of the years. By then the ex-div effect of the February reporting period has well and truly been factored in and there's probably an early sell-off starting from the "sell in May and go away" movement. The composite graph is quite stunning in that the significant rises and falls for all of the years occur at the same times. So far 13/14 is well ahead of the other years but they were all rising at this time in the reporting period so there is no reason to expect that 13/14 will not fall from mid-April as all of the other years did.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 12:59PM
    • @mitch,thanks for the insight.
      Still alot of water to flow and i'm guessing your charting the ASX200?
      I hold alot of midcaps/smallcaps which are relatively immune to the big boys trends,they each remain sensitive to their own destinys and market favour.Weighting into the factors of shorters and day traders theres alot in the mix,but i take your point that the chart doesnt lie and trends are trends. Historically it could all be undone by some overseas crash [china/us/japan] also we could break new ground either way so its always a longshot trying to predict.

      Commenter
      BearShapedBull
      Location
      MugPunters Lounge
      Date and time
      February 24, 2014, 1:23PM
    • No BSB, I'm charting the AllOrds. The chart is an eye-opener, particularly when charts for several years all converge on the same point. Now because 13/14 is well above the earlier years it probably won't touch those common points, unless there is a crash of some kind, but I would expect it to move towards those points yet stay 200 points or so ahead.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 1:55PM
  • "In a note this morning, the bank (Deutsche Bank) says it expects the RBA to be on hold over 2014, 2015 and in the first half of 2016, but predicts a rate rise in the US around mid-2015, which would help strengthen the greenback."

    I disagree. US rates will start rising before the end of this year. Australian rates will start rising before the middle of next year.

    Commenter
    Gordon Akman
    Location
    Broadbeach
    Date and time
    February 24, 2014, 12:18PM
    • And I'm of the opinion that Australian rates will be falling as the RBA cuts to desperately try and stimulate spending that will have been decimated by budget cuts impacting on disposable income and rising unemployment caused by that reduced spending.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 1:25PM
    • @mitch you predict further cuts to the already cut "Emergency Level" interest rates. Is the Australian emergency getting worse?

      Commenter
      Gordon Akman
      Location
      Broadbeach
      Date and time
      February 24, 2014, 2:24PM
    • Don't the Libs boast that interest rates will always be lower with a Liberal gov't. They are going to make good on that boast but for all of the wrong reasons.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 2:46PM
    • We couldn't raise rates if we wanted to. We'll see a 60c AUD before we see this property bubble burst.

      Commenter
      Pete
      Location
      Perth
      Date and time
      February 24, 2014, 3:41PM
  • The Gold short squeeze is on, hang on to your hats shorters...love it!

    Commenter
    Gold Balls
    Location
    Date and time
    February 24, 2014, 11:59AM
    • We both want it to happen but I cant see the evidence.

      Commenter
      Yin or yang
      Location
      Date and time
      February 24, 2014, 12:20PM
  • "Hedge funds are piling into gold and crude oil as prices rally"

    mop up the gold shares, SBM AQG set to rocket.

    Commenter
    repoman
    Location
    Dorrigo NSW
    Date and time
    February 24, 2014, 11:55AM
    • Gold chart looks like i might make some retracement maybe even as far as 1270.

      Commenter
      J.
      Location
      Syd.
      Date and time
      February 24, 2014, 12:08PM
  • sold out TLS @ 5.11
    churned 1/2 back into SKI for divd,cant get those SIV ....yet.

    Commenter
    BearShapedBull
    Location
    MugPunters Lounge
    Date and time
    February 24, 2014, 11:34AM
    • @BSB
      Pretty quick on your feet for a BSB!!! Smooth moves. Cheers
      MOC announces on Wednesday. It has been moving up nicely. Eying its recent high of about $3.30. In at 2.71, 2.85 and 2.94 and more.

      Commenter
      IT's All About Making Money
      Location
      Lennox Head
      Date and time
      February 24, 2014, 11:47AM
  • "Hedge funds are piling into gold and crude oil as prices rally, driving the bullish money wagered by commodity speculators to the highest level since 2011."

    But isn't the best investment to buy Australian property with debt and rent it out? Doesn't that produce the best returns?

    Commenter
    Fresh Investor
    Location
    Date and time
    February 24, 2014, 11:32AM
    • Is that you Allan.

      Commenter
      Allan spotter
      Location
      Prahran
      Date and time
      February 24, 2014, 11:42AM
    • Oh, come on...what else can we do?

      We lost manufacturing
      We are very uncompetitive around the world in everything
      We lack initiative
      We lack innovation
      We lack motivation
      We lack good education
      We lack job creation
      We love fishing all day long
      We love beer and clubs all day long
      We brought in immigrants to do the hard work for us but they got smarter and now have the good jobs
      We only have REAL ESTATE...give us a break.

      Commenter
      Landlord
      Location
      Sydney
      Date and time
      February 24, 2014, 11:48AM
    • As a Future Home Buyer I have to ask: why the obsession with home owners. With a lousy 8% return if rented, obnoxious tenants who don't pay the rent maintenance etc, the list goes on. Why not aim for an easy 15% off the ASX.

      Commenter
      FHB
      Location
      Date and time
      February 24, 2014, 12:49PM
    • LOL 8%. try < 2% before tax.

      Commenter
      Allan
      Location
      Prahan
      Date and time
      February 24, 2014, 1:07PM
  • "Mr Neilson's windfall interim dividend comes as the fund manager reported a 68 per cent increase in net profit to $105 million for the six months ended December 31"

    I'm interested to know what Kerr Neilson invests in? Does he buy houses with debt and rent them out? Is that how he got rich?

    Commenter
    Keen investor
    Location
    Date and time
    February 24, 2014, 11:29AM
  • Glad I didnt short FMG and SEK last week

    Commenter
    Wwwish Lion
    Location
    Melbourne
    Date and time
    February 24, 2014, 11:27AM
    • oh no he didn't?? cue.... the greatest shorter in history.....

      Commenter
      can of...
      Location
      worms/denial
      Date and time
      February 24, 2014, 11:46AM
    • How come finance experts don't know the difference between salaries and wages?

      Commenter
      Buffet
      Location
      In pajamas
      Date and time
      February 24, 2014, 2:46PM
    • Who is a finance expert?

      Commenter
      Wwwish Lion
      Location
      Melbourne
      Date and time
      February 24, 2014, 4:46PM
  • On overseas markets overnight, the Australian Cricket index has crashed.

    Commenter
    Joe the Pom
    Location
    Geelong
    Date and time
    February 24, 2014, 11:25AM
    • Australian Cricket futures have been described as having reached 'popped bubble' territory with the trade weighted average having declined over 90%.
      Traders described it as 'no one wants a punt on the Aussies anymore, seems they've all but blown up and sentiment is in the toilet'.

      Commenter
      Joe the Pom
      Location
      Geelong
      Date and time
      February 24, 2014, 11:37AM
    • South Africa's first eleven obviously is a better team and has more nurries than their second eleven that sort of turned up in Oz this summer...

      ps - not to mention doctoring the pitch

      Commenter
      Aussie Al
      Location
      Adelaide
      Date and time
      February 24, 2014, 11:39AM
    • I keep getting the wrong blog site...isn't this the cricket site?

      Commenter
      Joe the Confused Pom
      Location
      Geeshort
      Date and time
      February 24, 2014, 11:50AM
    • Nothing personal @Joe, but i used to respect Pom's because of my Ancestry but after the last ashes series and the cowardice comments I got from my Pome acquaintances I have joined the Tiger O'Reilly breed of Aussie and say was '5 nil good enough for you son'. Poms tend to be be great when they are winning but very sore losers. Having said that I am sure you are a great bloke!

      Commenter
      Aussie Al
      Location
      Adelaide
      Date and time
      February 24, 2014, 11:57AM
    • PPS Not to mention praying on winning the toss

      Commenter
      NSMR
      Location
      Date and time
      February 24, 2014, 12:04PM
    • Al,

      Not sore losers ... Seriously .. We accept defeat because to us our EGO isn't crushed by every defeat which is why it is so easy to stir an Aussie into action when they do lose.

      Look at the lack of sledging opportunities post defeat compared with gloating opportunities post win (in the media) as proof.

      England were not good enough to compete in Australian conditions and barely managed the feat at home previously.

      They had been in slow decline for 2 years, but hey, at least we weren't as bad as Australia were.

      Just a false dawn winning at home against a weakened and declining side.

      As for being a "a great bloke", no .... I'm a pomie B@$t@rd and proud. lol.

      Commenter
      Joe the POM
      Location
      Geelong
      Date and time
      February 24, 2014, 12:20PM
    • Have to admit the great bloke bit was tongue in cheek lol, I have divorced all my pome 'mates'

      Commenter
      Aussie Al
      Location
      Adelaide
      Date and time
      February 24, 2014, 12:33PM
    • Aussie Al,

      Ancestry who from Pommy Land? Everybody old enough knows that South Australians are descended from Germans. In WWI they had to Anglicise the names of the towns in the Barrossa Valley in a great hurry and switch to speaking English. Bit like the haus Sachsen-Coburg und Gotha suddenly becoming the House of Windsor..

      Commenter
      Jim
      Location
      Date and time
      February 24, 2014, 4:03PM
  • Govt lifeline to TSE pah! what a job,if they can make it work good luck with it.

    Commenter
    BearShapedBull
    Location
    MugPunters Lounge
    Date and time
    February 24, 2014, 11:24AM
    • TSE's results later this week will be the acid test. I'm still tipping a disappointing set of numbers for them although the announcement today will obviously sweeten the pill a bit. I wouldn't touch them with a barge pole myself.

      Commenter
      Grinch
      Location
      Date and time
      February 24, 2014, 12:07PM
  • Woodside. SO lets get crazy.

    Commenter
    Sullys Foot is Down
    Location
    South Freo
    Date and time
    February 24, 2014, 11:23AM
  • SIV swinging around like a loose gate....low 5.83 high 6.12 and its only first trading hour.
    missed my qued buy back in @ 5.80 still.

    Commenter
    BearShapedBull
    Location
    MugPunters Lounge
    Date and time
    February 24, 2014, 11:11AM
  • "The survey found South Australians were struggling the most, with 60% considered to be in mortgage stress, compared to 54% in Western Australia, 52% in both Victoria and Queensland and 50% in New South Wales."

    Commenter
    Know your role
    Location
    in the financial food chain
    Date and time
    February 24, 2014, 11:02AM
  • I need to go and make coffee more often. Down .1 when I left, up .34 when I arrive back. Somebody hit the buy button in my absence. :D

    Commenter
    Dave
    Location
    Brisvegas
    Date and time
    February 24, 2014, 10:59AM
  • I see late June to July this year as the coming of the Great Collapse...does anyone have different dates? is it earlier?

    Commenter
    Visionaire
    Location
    Sydney
    Date and time
    February 24, 2014, 10:55AM
    • May / June. IN TA terms the "broadening wedge" (from dot com onwards), combined with that 1929 chart is looking interesting.

      Commenter
      Ryan
      Location
      Date and time
      February 24, 2014, 11:59AM
    • can't wait for blood on the streets. ah ah ah ...but first ill close out all my long positions at 10% below eh eh eh ( wouldn't want to forget to lock in all my profits), then i'll swoop again when prices are low ah ah ah. prey on misery i love it eh eh eh.

      Commenter
      dracula
      Location
      transylvania
      Date and time
      February 24, 2014, 12:18PM
  • rents are up, property prices are up ...where does that leave the Gen Y nfi's?
    he he

    Commenter
    the big fat rich landlord
    Location
    Date and time
    February 24, 2014, 10:52AM
    • ...at the mercy of the incoming Chinese...and they know it.

      Commenter
      Angel
      Location
      Sydney
      Date and time
      February 24, 2014, 11:18AM
    • So are holding costs

      Commenter
      linux
      Location
      Date and time
      February 24, 2014, 11:18AM
    • Knocking on mum and dads door probably.

      Commenter
      Grinch
      Location
      Date and time
      February 24, 2014, 11:21AM
    • Hope they like rice

      Commenter
      Sullys Foot is Down
      Location
      South Freo
      Date and time
      February 24, 2014, 11:57AM
    • Rents are falling in perth.
      For lease signs are becoming obvious, there are three on one road I pass driving to school.
      I'm talking about a sort after area with highly regarded schools, in fact it's a easy stroll to the local high school and two of the primary's. Also the major shopping centre.

      Commenter
      Kerry
      Location
      Date and time
      February 24, 2014, 12:12PM
    • Seriously... some people!? Rent's are falling in Perth!? Well rents are not falling in the Warneroo area. $360 in 2010, $400 now. Didn't put rent up on us because of our property inspections. Before some dim wited soul tells me to rent else where I'd say to you, come and attend a rental inspection and count the feet your up against. Seriously you can't put property all in the same basket, much as the same you can'y put all stocks in the same basket, or commodities for that matter. Please this thread is for people taking or giving advice (helpful), Not some one eyed... Pauline Hanson thought processed sound byte.

      Commenter
      what
      Location
      rents? where exactly?
      Date and time
      February 24, 2014, 1:00PM
    • We moved out of Willetton because only dumps were available. Asking rents circa September 2012 were $650/$750.
      We now live in Leeming, it is closer to WillettonSHS and shopping centre.
      Weekly rents in Willetton now for similar properties $500/$550.
      This is a reality I am experiencing.
      We stood up to our agent. We were offered a new lease four months early, rent increase $25. Declined the offered, turns out owners wanted us to stay and wanted NO rent increase.
      The agent now has no power over us. In fact when wrongly issued a none payment of rent before Christmas ( including eviction notice ) the owner called to see if we were okay.

      Commenter
      Have deposit
      Location
      But see NO value
      Date and time
      February 24, 2014, 2:02PM
    • Australians are sheep and the RE sector knows it, but lets not confuse market conditions with a RE scam. Open your eyes - there are for lease signs everywhere. Rents ARE falling with demand. The mining boom is unwinding and the eastern state worker exodus has already begun. If you pay one penny more in rent in Perth in the next 5 years you only have your own meek self to blame. Haggle lower or move.

      Commenter
      Pete
      Location
      Perth
      Date and time
      February 24, 2014, 3:01PM
    • @big fat rich landlord - if you're highly leveraged, that would make it even better wouldn't it.

      Property owners aren't aware of how much they overpaid until after the event.

      Clue 1: a unit was 'in the news' this past week, for the wrong reason, twice. 1st was a tragic death, 2nd it's reported to be on the market for $1.3-$1.4M and last changed hands in 2009 for $1.85M. That's bad enough so I hope there was no reno in that period too.

      Clue 2. Aussie & Chinese property up in line with US money printing. Problem is our share market isn't back to it's 2007 high. Property has a long way to fall or shares have a long way to rise. Take your pick, USA is tapering....

      Commenter
      nolongerconfused
      Location
      Date and time
      February 24, 2014, 3:46PM
  • SKI tick tock tick,yeildseekers getting the message?jump out of exdiv into another...

    Commenter
    BearShapedBull
    Location
    MugPunters Lounge
    Date and time
    February 24, 2014, 10:52AM
  • Treasurer Joe Hockey looking more like the Senior Statesman of the Finance World as each day passes...

    Commenter
    Ellen
    Location
    Prahran
    Date and time
    February 24, 2014, 10:40AM
    • Wee he does have half-a-trillion dollars (of debt) to boost his stature.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 11:14AM
    • And did you notice in that photo that there was only one woman in the group of G20 Finance Ministers and that she was the most influential person there.

      Commenter
      miutch of ACT
      Location
      Date and time
      February 24, 2014, 11:33AM
    • "...Treasurer Joe Hockey looking more like the Senior Statesman of the Finance World as each day passes."

      That really implies that not long ago he must have been a rather mediocre minister..
      It implies that we have elected a rather mediocre minister that is really learning on the job...an apprentice minister.
      Furthermore it also implies he's part of a mediocre Gov't
      It implies we're in deep s....as each day passes...

      Commenter
      Realist
      Location
      Sydney
      Date and time
      February 24, 2014, 11:41AM
    • yes weve never seen such a sincere mature noble individual in the Treasurer's role, and then theres that trick he does with the Baloney wand...pure magic....end of age of entitlement, gifts for farmers, rich girls subsidies for babies, free money for chocolate...how does he manage to marry so many competing theories? its magic! thats why we know him as Joe Baloney with his magic Baloney wand!

      Commenter
      repoman
      Location
      Dorrigo NSW
      Date and time
      February 24, 2014, 11:43AM
  • Bio's scan reveals
    AHZ green light from FDA for selling product into US market,only boosted 1c,wheres my rocketship triple bagger!
    AZR favourable 1/2 yearly NPAT up 283% shares only 7.9% up
    IVX rights issue more dilution...ggrrr
    missed the IMC right posting error so 185000 shortfall from moi.
    BNO onwards and upwards to 80c soon...

    Commenter
    BearShapedBull
    Location
    MugPunters Lounge
    Date and time
    February 24, 2014, 10:38AM
  • jones hadley gina and singleton were almost in charge of Fairfax radio, and its only monday !

    Commenter
    lunatix in charge
    Location
    of the asylum
    Date and time
    February 24, 2014, 10:38AM
    • Who? In charge of What? Never heard of them...

      Commenter
      Anti-Mediocrity
      Location
      Sydney
      Date and time
      February 24, 2014, 11:13AM
  • "Apple’s tax liability fell to $36 million in Australia during its 2013 reporting year despite banking record revenues of $6.1 billion for its local operations"

    Where's the fairness?

    Commenter
    Small Business
    Location
    Date and time
    February 24, 2014, 10:38AM
  • Guess I sold Bluescope too early. Still, can't complain about a profit, but I can only shake my head at the price people are paying for it...

    Commenter
    Dave
    Location
    Brisvegas
    Date and time
    February 24, 2014, 10:31AM
    • Yea you would think that some reward offered to shareholders for endurng through the turnaround,no divd announced,i'd be glad to have sold out with profits as well,boo to the directors,you are wrong not to spread the butter around.

      Commenter
      BearShapedBull
      Location
      MugPunters Lounge
      Date and time
      February 24, 2014, 10:58AM
  • Ok thanks for reply on CAJ guys sorry i missed the first one. Was thinking of locking in profits today but its up another 2.94%, just wondering if anyone could nut out a rough price target on this? has a high pe ratio but keeps suprising on growth. Another one Im holding AZV, its up almost 8% today anyone have any views on these stocks? cheers guys

    Commenter
    Navy
    Location
    Navy
    Date and time
    February 24, 2014, 10:27AM
    • I hold AZV will keep holding as good result,sell 1/2 if you need to take profits,i trigger at ^20% then dish some.Growth stock and looking good for coming year.
      CAJ this is a good price i have held but dumped them 2013,in at 0.36 out at 0.47,still a reasonable stock,so sell 1/2,will drift abit but follow the market trend in healthcare should see upside,full value around 50c,and expansion has reached its limit for them so where to from here...i dont know.

      Commenter
      BearShapedBull
      Location
      MugPunters Lounge
      Date and time
      February 24, 2014, 11:04AM
    • Thanks Bull. CAJ up again 4.9% might see how she goes with a stop loss around 50c. Anyone that brought and held these a year ago would be laughing all the way to the bank.

      Commenter
      Navy
      Location
      Navy
      Date and time
      February 24, 2014, 12:36PM
  • @pass the red..The irony's not lost on me. What did you want me to do? I have such integrity, I tried to tell everyone we are killing our country at the same time as making money. Not so much in housing though. I had no idea our politicians were that crooked and my fellow Australians that dumb. So, naive might be a better label. In hindsight, it was all there to see....@repoman. You need to open your eyes mate.

    Commenter
    JohnBB
    Location
    Date and time
    February 24, 2014, 10:25AM
    • I suspect that Pass the Red and JohnBB are two personalities of the same schizophrenic individual. Hence this neverending boring exchange.

      Commenter
      Grinch
      Location
      Date and time
      February 24, 2014, 10:58AM
    • Ground Control to Major Tom
      Take your protein pills and put your helmet on
      Ground Control to Major Tom
      Commencing countdown, engines on
      Check ignition and may God’s love be with you...
      Ground Control to Major Tom
      Your circuit’s dead, there’s something wrong
      Can you hear me, Major Tom?
      (Apologies to David)

      Commenter
      repoman
      Location
      Dorrigo NSW
      Date and time
      February 24, 2014, 11:04AM
    • @repoman. You need to open your eyes...AND try and make sense. It's "solid gold".

      Commenter
      JohnBB
      Location
      Date and time
      February 24, 2014, 12:00PM
    • "@repoman. You need to open your eyes...AND try and make sense. It's "solid gold".

      @ Johnno BB. It beggars belief that you insist on others 'opening their eyes' when you somehow believe that 23 million people on a landmass this size is somehow overpopulation. You must live in a heavenly fairyland. You also claim to be mid forties and 'semi retired' & 'filthy rich' yet as another poster pointed out last week you probably got that way due to the massive population increase over the course of your lifetime. So whereas it's ok for you to prosper, now you want to keep an entire continent for yourself, locking all the other inhabitants of this planet out. This is not irony, it is sheer hypocrisy! Along with this you claim in previous posts that you are somehow the most generous, caring humanitarian on the planet. STAGGERING!

      Commenter
      Allanah
      Location
      Prahran
      Date and time
      February 24, 2014, 12:31PM
    • Not much point in dropping 50 million people into a desert like Australia. Australia has a carrying capacity relative to the water supply.

      Commenter
      FHB
      Location
      Date and time
      February 24, 2014, 12:54PM
    • @Allanah...Interesting post Allanah.

      I think you miss a few extremely important aspects. Ecologically speaking Australia is way over populated. Reflected LEAST of all with the sad tag of biggest killer of species on the planet. Your problem is you can't see what's going on, like most naive "kind" people. There are 90 million EXTRA people on the planet every year. Do you think us taking another 20 million makes a speck of difference to that? This is not about me Allanah as I'm often accused. It's about my kids and their kids. Even your kids and their kids..AND.. the environment (remember we used to talk about that?)...It's not going to implode next decade (despite me having hyperboled that). I'll get out okay, as will you. If we fill Australia with more people we lose the ability to feed anyone but ourselves (we will soon be net importers of food). Not everything's as simple as first seems hey? The world is horrifically over populated, Australia is terribly over populated. I have a degree in science and learned very quickly, if we do nothing about population, we may as well do nothing to help the doomed environment.

      Commenter
      JohnBB
      Location
      Date and time
      February 24, 2014, 1:00PM
  • Hadley & Jones part of the Fairfax group, what are you trying to do Fairfax, lose subscribers by the bucket load. Thank God the egos of those two caused the deal to fall over. Now go take a long cold shower Fairfax and come to your senses. With those 2 on board you would be no different to the Murdoch pollution.

    Commenter
    mitch of ACT
    Location
    Date and time
    February 24, 2014, 10:25AM
    • Hadley & Jones...Dumb & Dumber.

      Commenter
      Radio Zoo
      Location
      Date and time
      February 24, 2014, 11:15AM
    • Im pretty sure JohnBB is a big fan of Hadley & Jones et al; they specialize in scaring the bjesus out of the old and sick, but the actual audience is quite low, around 300k, even though they are supposedly #1. It would be interesting to survey the rate of depression in their audience, as we have seen here.

      Commenter
      repoman
      Location
      Dorrigo NSW
      Date and time
      February 24, 2014, 11:22AM
    • Yeah, "rock solid rolled gold" repoman.

      Never listened to them even once. I think for myself, you should try that.

      Commenter
      JohnBB
      Location
      Date and time
      February 24, 2014, 11:58AM
    • You don't have to listen to them. They are quoted often enough on Media Watch highlighting their distortion of events for their political mates.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 1:28PM
  • A new 12 month intraday high on the XAO today, 5463.80. Nice gradual uptick. We need a closing 12 month high as well for the market to get on with it.

    Commenter
    It's All About Making Money
    Location
    Lennox Head
    Date and time
    February 24, 2014, 10:24AM
  • Interesting to see over the coming months how the iron ore derivatives market impacts on the fe price. Daily volumes now average the equivalent of 2 million tonnes of fe. Major raw materials such as oil and copper have had these derivatives for decades and we have seen the prices manipulated and warehousing of Cu from time to time. Could this be the reason for record inventory levels of 100mllion tonnes of Fe at China ports in the face of falling steel prices due to oversupply?

    Commenter
    Seb Gonzo
    Location
    New Farm
    Date and time
    February 24, 2014, 10:20AM
  • ACR finding some favour back to square 1 for me...but that divd is attractive.

    Commenter
    BearShapedBull
    Location
    MugPunters Lounge
    Date and time
    February 24, 2014, 10:17AM
    • LOL @ fools', ignorant paradise....

      "Over the past two years, yields have not changed substantially for houses in Melbourne with a change from 3.5 per cent 3.4 per cent recorded. "

      http://blog.rpdata.com/2014/01/victoria-market-moderate-increases-rental-costs-last-year/

      But don't let facts get in the way of your rant.

      Commenter
      Allan
      Location
      Prahran
      Date and time
      February 24, 2014, 10:31AM
    • How is this related to above post? Please explain... in writing... immediately, front and center and all that.

      Commenter
      Um...
      Location
      wtf... over?
      Date and time
      February 24, 2014, 10:54AM
    • I'm sure you'll figure it out.

      Commenter
      Allan
      Location
      Prahran
      Date and time
      February 24, 2014, 11:15AM
    • Que pasa?

      Commenter
      BearShapedBull
      Location
      MugPunters Lounge
      Date and time
      February 24, 2014, 11:17AM
    • Don't get mad white ant. A little more care when you post please. Your making the thread untidy.

      Commenter
      um...?
      Location
      sorry?
      Date and time
      February 24, 2014, 11:43AM
    • just hit 2.26...hover
      ok put a sell @ 2.35 that'll cover it

      Commenter
      BearShapedBull
      Location
      MugPunters Lounge
      Date and time
      February 24, 2014, 12:49PM
    • have a look...
      http://www.aussiebulls.com/SignalPage.aspx?lang=en&Ticker=ACR.AX

      Commenter
      BearShapedBull
      Location
      MugPunters Lounge
      Date and time
      February 24, 2014, 1:39PM
  • "Melbourne renters face harsh home truths as gentrification creeps north".

    "Renters are being priced out of working-class suburbia as gentrification creeps further north."

    "In Preston, once blue-collar heartland, the average rent for a one-bedroom flat surged 25 per cent to $290 a week in the 12 months to last September."

    "Robert Larocca, of property analysts RP Data, said 25 per cent rises in rents in Thornbury and Coburg were well above the city average of 17 per cent. Rent rises were an unavoidable consequence of changing demographics."

    I'm DEFINITELY not crowing about the above. I genuinely think it places increased pressures on people which is never good. But the simple fact is that it IS REALITY!
    It PROVES that our mates Allan & Gordo are living in the planet of denial, not on Earth. They are living in a fools', ignorant paradise and anyone taking financial advice from them will live to rue the day they did a few years down the track. As we speak they are praying for financial Armageddon in Australia so they can line their own pockets and just so they can feel vindicated in their bleak outlooks.

    Do some basic maths: there are 4.3 million people in this city. All want to live close to amenities, entertainment etc etc. Very few want to live in Point Cook or Cranbourne. There are far far fewer than 4.3 Million dwellings within a 10 km radius of the city. BASIC MATHS! Do your own sums and come to your own conclusions....Melbourne's population will continue to grow!

    Read more: http://www.theage.com.au/victoria/melbourne-renters-face-harsh-home-truths-as-gentrification-creeps-north-20140223-33akr.html#ixzz2uBoNlmUU

    Commenter
    Remedial Maths Teacher
    Location
    Taylor's Lakes Primary School
    Date and time
    February 24, 2014, 10:17AM
    • Sorry. We don't want to buy your investment property. Good luck.

      Commenter
      Gen Y
      Location
      Date and time
      February 24, 2014, 10:24AM
    • Um.... I just off loaded mine easy enough, 8 interested in first two weeks of going on domain. Two serious buyers, sold to investor as couples weren't willing to wait untill tenants were out. Sold at small profit (nothing to write home about lol), wasnt happy with yields as perth property is yielding at 10%.
      Property was in west Melbourne out near Terrible Werribe.
      Happy investing everybody ;)

      Commenter
      some one
      Location
      brought mine
      Date and time
      February 24, 2014, 10:32AM
    • Do the maths...and leave this place. Go to Europe for Haven's sake, get yourself a decent life, a great affordable accommodation, a nice car up there...how long will you suffer down under? What Karma do you have to pay? Leave Now!

      Commenter
      Did the Maths!
      Location
      Sydney
      Date and time
      February 24, 2014, 10:48AM
    • Yes indeed do the maths. Where will the money come from to pay for ever increasing rent? Unless you pack more people into each dwelling, rents are going nowhere. If anything, backwards as the economy implodes as a result of the inactivity going on EVERYWHERE. Sadly, an economy doesn't run on lattes.

      Commenter
      JohnBB
      Location
      Date and time
      February 24, 2014, 10:49AM
    • LOL @ fools', ignorant paradise....

      "Over the past two years, yields have not changed substantially for houses in Melbourne with a change from 3.5 per cent 3.4 per cent recorded. "

      http://blog.rpdata.com/2014/01/victoria-market-moderate-increases-rental-costs-last-year/

      But don't let facts get in the way of your rant.

      Commenter
      Allan
      Location
      Prahran
      Date and time
      February 24, 2014, 10:58AM
    • re JohnBB S comment
      "the economy implodes as a result of the inactivity going on EVERYWHERE. Sadly, an economy doesn't run on lattes."

      Good rational reasoned argument, wouldn't miss it for quids.

      Commenter
      repoman
      Location
      Dorrigo NSW
      Date and time
      February 24, 2014, 11:34AM
    • Yes, having done the maths, as a remedial maths teacher I calculate you can neither afford to buy or rent on your salary unless you'd like to move to Broken Hill where remedial maths teachers are in demand and the wage will afford you a roof over your head as well as food on the table.

      Commenter
      Joe the Pom
      Location
      Geelong
      Date and time
      February 24, 2014, 11:51AM
    • "wouldn't miss it for quids.".....that's a "pure gold" comment.

      I think it's very reasoned repoman. I think your wisdom will kick in with hindsight......or....perhaps you could look overseas and see what's happened over there. That's exactly what we're doing here; but much worse.

      Commenter
      JohnBB
      Location
      Date and time
      February 24, 2014, 12:08PM
    • @Did the maths! Would love to leave this country, but how does one get a job in an economy with high youth unemployment like Europe's? Also how hard is it to get a Visa/PR? Genuine questions here from a Gen Y, cheers

      Commenter
      panda
      Location
      perth
      Date and time
      February 24, 2014, 1:28PM
  • "Indian Pacific passengers struck down with gastro"

    Commenter
    George Roper
    Location
    Date and time
    February 24, 2014, 10:16AM
  • ACR just announced they are now selling their main product in the 2nd biggest testosterone market (Germany) and also getting special div (5.5 - 6%) tomorrow. Nice!

    The clouds are parting! :)

    Commenter
    GS
    Location
    Date and time
    February 24, 2014, 10:16AM
  • MND won the Ichthys contract,boosted 7% and will probably pick up the scraps from all the Forge contracts still incomplete,could be a good year for them,also Whetstone yet to pick their suitor.....more to come

    Commenter
    BearShapedBull
    Location
    MugPunters Lounge
    Date and time
    February 24, 2014, 10:14AM
    • Glimmers of hope for sure. I have been long in the stock for many years, bought at $20.25, so a run up would be well received!

      Commenter
      Irish Phil
      Location
      Date and time
      February 24, 2014, 10:31AM
    • But will MND be struck down by the same disease that has plagued other construction companies recently, underbidding to secure contracts against fierce competition for a diminishing number of projects then cost overruns. These companies are in my high-risk basket.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 10:32AM
    • MND is a different kettle, they are very savvy at pricing and legal contracts,cost over runs footed by clients through variations,then once onsite they seem to be able to pull all the other work away from competitors.I would say they are well on the way to another good year,but their biggest problems is"getting to big to fast" which has been the demise of other construction giants in the past.

      Commenter
      BearShapedBull
      Location
      MugPunters Lounge
      Date and time
      February 24, 2014, 10:45AM
    • Agree with BSB,,,MND has been the proverbial baby thrown out with the bathwater.Gradually the market will realise this and MND will be priced more correctly.

      Commenter
      Chumlee
      Location
      Date and time
      February 24, 2014, 11:13AM
  • where the f..k are the bears?
    MIA..that's where.

    Commenter
    no banks .. no party!
    Location
    MIA
    Date and time
    February 24, 2014, 10:13AM
    • Considering market is at 2006 levels probably out having a champagne breakfast.

      Commenter
      Get you hand of it
      Location
      Too much makes you blind
      Date and time
      February 24, 2014, 11:31AM
    • sure you are allan...sure you are.

      Commenter
      no banks .. no party!
      Location
      Date and time
      February 24, 2014, 12:15PM
  • News reports in the weekend AFR say the big banks report Australian farmers have all time low default rates and are NOT in any trouble. Why does this Govt pander to the NP propaganda about poor farmers? Why don't they apply the "end of age of entitlement" theory to this business sector so that we are all on a level playing field? Bank shareholders are not happy Toney!

    Commenter
    REPOMAN
    Location
    Dorrigo NSW
    Date and time
    February 24, 2014, 10:10AM
    • Uhhhmmm. Because they are large proportion of the electorate maybe and should be represented?

      Commenter
      JohnBB
      Location
      Date and time
      February 24, 2014, 10:44AM
    • ****sigh******

      Commenter
      repoman
      Location
      Dorrigo NSW
      Date and time
      February 24, 2014, 11:48AM
  • So now that Sochi is over, how long before Russian tanks roll into Western Ukraine to "restore order". That should shake markets up a bit.

    Commenter
    mitch of ACT
    Location
    Date and time
    February 24, 2014, 10:01AM
    • Actually, you do not jest
      I have lived in Ua and for a bit in Ru
      I have friends my age who remember them rolling into CZ, they refuse, my friends to speak Russian, which they had to lean at school
      But Eu should never let Ua into Eu, it,ll never happen, any aid will just vanish into the pockets of the Politicians
      Poohtin, does not have to do anything much, just close the gas off
      But yes it is the next big worry for sure Mitch

      Commenter
      stu
      Location
      Date and time
      February 24, 2014, 11:25AM
    • Not joking, deadly serious. 50% of Ukraine is very pro-Russian. Putin wouldn't want any other member of the fragile Russian republic getting the idea that they can split away. Chechnya's bad enough. And remember that there was Hungary in '56 before the Czechs in '68.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 12:56PM
    • Mitch, I Even Poohtin, would not risk this, it would lead to WW3 and this is a fact
      But then again I think he is getting crazier, year by year,
      If it were Stalin, then they would be down there now
      Ua has been through hell over the centuries
      Nothing stands still, regimes come , go, Romans Ottomans, Nazis , Russians and before long, USA,

      Commenter
      stu
      Location
      Date and time
      February 24, 2014, 1:09PM
    • And of course by now those in western Ukraine will have stripped their armouries of anti-tank weapons and anti-aircraft missiles. Charlie Wilson's War. The West won't get involved, no stomach for it.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 4:03PM
  • BPT results! Pretty good - shame about their stingy dividend policy.

    Commenter
    Yin or yang
    Location
    Date and time
    February 24, 2014, 9:55AM
  • So Scott Morrison's totally incompetent after all. What a surprise.

    Commenter
    Allan
    Location
    Prahran
    Date and time
    February 24, 2014, 9:52AM
    • 9 years in opposition should be about right big Al - lol

      Commenter
      Scott Who?
      Location
      Prahran
      Date and time
      February 24, 2014, 10:21AM
    • Really? His breif was to stop people floating over to australia and asking for asylum. its been over 65 days since that occured...Sounds more like he is good at his job, you just dont like him, his party or how he achieved it. But the message is definately out there, dont come now wait for another labor gov...

      Commenter
      Wwwish Lion
      Location
      Melbourne
      Date and time
      February 24, 2014, 10:24AM
    • Who cares? Labor are worse.

      Commenter
      Allan
      Location
      Prahran
      Date and time
      February 24, 2014, 10:29AM
    • Yes ... He's stopped the boats by asking the Australian Navy to break international law. Hmmm. I reckon I could do that quite easily as Immigration Minister.
      A far more easier, less time consuming, and more successful strategy would be to build an arsenal of 20 nukes and take out every known point of origin for said 'people floating over to Australia'.
      No people, no boats. No boats .... JOB DONE.

      Does being Scott Morrison always gift the excuse of any means to meet chosen ends.

      Commenter
      Joe the Pom
      Location
      Geelong
      Date and time
      February 24, 2014, 11:41AM
    • our boats went into indo waters?? so what? the whole point is that their boats are trying to come into our waters yet you say thats ok for them to but not us....perhaps our patrol boats were trying to get to indo to claim asylum then its ok/

      Commenter
      Wwwish Lion
      Location
      Melbourne
      Date and time
      February 24, 2014, 2:50PM
    • Wwwish Lion it is illegal to enter another nations' territorial water without permission. It is also illegal to stop a boat in international waters and remove the occupants of the vessel.

      Were the Australian navy doing it in Australian water then perhaps you'd have a point but since they are not, you don't.

      I was always taught that two wrong don't make a right but then I would argue, it appears I am more moral than you.

      Equally for one to declare themselves a righteous Christian as our PM does, he didn't learn much when his church was teaching young Tony his doctrine, especially the lesson on the Good Samaritan now did he.

      Commenter
      Joe the POM
      Location
      Geelong
      Date and time
      February 24, 2014, 4:07PM
    • Careful Joe if you keep going on you will bleed to death.
      How about Indonesia adopt the UN Refugee convention and accept these people so they dont get in a dangerous boat to come here?

      Commenter
      Wwwish Lion
      Location
      Melbourne
      Date and time
      February 24, 2014, 4:48PM
  • ASX - if you're listening. Why not consider some rules about when market sensitive announcements can be made? Much better if they were announced at least 30 minutes before the market opens, rather than on the fly or at 9:59. Maybe there are rules and they could be improved. Retail investors need some time to digest what it all means.

    Commenter
    Yin or yang
    Location
    Date and time
    February 24, 2014, 9:51AM
    • If the ASX member happens to be 1 of the 15 people on average that view this page, sader still one of the 15 that actually stops to read this thread...I wouldn't hold your breath.

      Commenter
      ASX
      Location
      in the house
      Date and time
      February 24, 2014, 10:10AM
    • Have you noticed how many times a stock is allowed to open and trade, sometimes actively, then around 10:20am a market sensitive announcement is made and the stock price leaps or plunges when trading resumes. If the announcement is released shortly after open then the information hat led to that announcement being made was more than likely known well before then and the stock should have placed in a trading halt. A requirement ignored more often than observed.

      Commenter
      mitch of ACT
      Location
      Date and time
      February 24, 2014, 10:10AM
    • @mitch yea well 20mins is long enough for those "in the know" to take their position. so it makes sense to please all those "savvy insiders err investors".
      @yinyang nice thought but they dont care bout us,ps nah no stalking just coincidence on the MGX,LEI trades,thing is i did offload LEI thursday and brought into MGX @ 0,975 friday...good move,only time and market forces will tell.Holding lots of stocks...well around 30-34 most of the time,happy trading.

      Commenter
      BearShapedBull
      Location
      MugPunters Lounge
      Date and time
      February 24, 2014, 12:46PM
    • @BSB. That's a lot of companies to keep up with - announcements, SP trends etc. Hope it's your full-time job.

      Commenter
      Yin or yang
      Location
      Date and time
      February 24, 2014, 2:39PM
  • "alleged billionaire kingpin Liu Han, whose company, Hanlong Group, was given the all-clear by the Foreign Investment Review Board to take over Australian iron ore miner Sundance Resources in 2012"

    The FIRB should be renamed FIOHB - "The Flog It Off To The Highest Bidder" board.

    Commenter
    Allan
    Location
    Prahran
    Date and time
    February 24, 2014, 9:47AM
    • I just call it FIB. I'm sure the foreign kleptocrats are comfortable with that.

      Commenter
      Jim
      Location
      Date and time
      February 24, 2014, 1:08PM
  • "Energy sector privatisation in Australia has been a “failure” which has produced “no benefits” for consumers, but has resulted in “large fiscal losses” to taxpayers, a new report has found."

    http://www.brisbanetimes.com.au/queensland/energy-asset-privatisation-fails-taxpayers-economist-20140219-3316n.html

    Large essential monopolistic infrastructure should never be privatised. Corporations cannot be trusted to act in the wider public interest and there snouts crowd out the trough.

    Commenter
    Allan
    Location
    Prahran
    Date and time
    February 24, 2014, 9:44AM
  • New theory that Gold is rising because Bitcoin values are plummeting; investors seeking alternatives to paper currency. Where will Gold shares go today?

    Commenter
    repoman
    Location
    Dorrigo NSW
    Date and time
    February 24, 2014, 9:44AM
    • Alas, I predict, a little flurry upwards and then back down again.

      Commenter
      Yin or yang
      Location
      Date and time
      February 24, 2014, 10:06AM
  • "Over the past two years, yields have not changed substantially for houses in Melbourne with a change from 3.5 per cent 3.4 per cent recorded. "

    http://blog.rpdata.com/2014/01/victoria-market-moderate-increases-rental-costs-last-year/

    ie over two years -1.5% in real terms.

    Not what overleveraged littlelandlords want to hear.

    Oh dear.

    Commenter
    Allan
    Location
    Prahran
    Date and time
    February 24, 2014, 9:41AM
    • How about big landlords?

      Commenter
      always with
      Location
      the little guys
      Date and time
      February 24, 2014, 10:05AM
    • completely different of course in the Emerald City, where rivers of gold flow through landlords fingers.

      Commenter
      repoman
      Location
      Dorrigo NSW
      Date and time
      February 24, 2014, 10:23AM
    • those land lords would want to keep a very close eye on that market because when she goes, she goes.

      Commenter
      you gotta
      Location
      know when to.....
      Date and time
      February 24, 2014, 10:42AM
  • has the housing bubble burst yet ?

    Commenter
    Hugo
    Location
    Date and time
    February 24, 2014, 9:20AM
    • Moe, new suburb of the virtual trader is safe.

      Commenter
      no banks .. no party!
      Location
      POP!
      Date and time
      February 24, 2014, 9:32AM
    • @Hugo, its bound to happen the doomsayers here keep telling me it is so, but they are to dim to know when.....even after all these years of predicting they are no closer to saying when it will happen, but they will do the i told you so dance if it ever does

      Commenter
      Wwwish Lion
      Location
      Melbourne
      Date and time
      February 24, 2014, 9:57AM
    • No, and will not collapse but rather it be transferred to the two hundred million refugees coming to our shore in the very near future...Rejoice and praise the Lord.

      Commenter
      Padre
      Location
      Sydney
      Date and time
      February 24, 2014, 9:59AM
    • Rising unemployment at the current rate of late will certainly sort out over priced assets..........re residential housing

      Commenter
      linux
      Location
      Date and time
      February 24, 2014, 11:01AM
    • Next Tuesday

      Commenter
      MrSteve
      Location
      Date and time
      February 24, 2014, 2:35PM
    • Daily question from the Pit staring at the Pendulum.

      Commenter
      Pete
      Location
      Perth
      Date and time
      February 24, 2014, 3:14PM
Comments are now closed