Banking stocks tumble

ASX set for sharp fall on the open

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A plunge in banks put a halt to the optimism that lifted European

equities last week, sending them to their biggest slumps since early

July. It appears that last week’s bullishness, triggered by confidence

that central banks will continue to spur growth, is quickly fading amid

growing worries about Europe’s recovery and the state of its lenders.

Benchmark equity gauges of Germany, France and Italy declined more

than 1.5 percent, while Britain’s FTSE 100 Index fell 1.3 percent.

The MSCI All-Country World Index fell 0.9 percent in New York. The

S&P 500 Index slipped 0.9 percent to 2,146.10.

JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co.

led losses in U.S. financial shares, while Deutsche Bank sank 7.5

percent.

A measure of emerging-market stocks slumped 1.3 percent as Turkish

shares led losses among the world’s biggest equity markets.

Global Shares Fall as Lenders Slump

YESTERDAY IN THE INTERNATIONAL MARKETS Global Ticker Daily Change

S&P 500 -0.86%

Dow Jones -0.91%

NASDAQ -0.91%

STOXX 600 -1.55%

FTSE 100 -1.32%

DAX30 -2.19%

Crude Oil +2.56%

Gold +0.01%

Following a 2.5 per cent gain last week, the ASX started the week flat

with a mixed performance amongst the sectors. The Information

Technology sector as well resource stocks and gold producers gained

while shares in Consumer Staples fell. Australia’s largest diversified

retailers Woolworths (WOW) and Wesfarmers (WES) experienced

significant losses.

The S&P/ASX 200 ended the trading day unchanged at 5,431 points,

while the All Ordinaries and Small Ordinaries traded flat as well.

Amid corporate activity, SAI Global soared 29 per cent as the company

is backing a $1 billion takeover from Hong Kong-based Baring Asia

Private Equity. The offers values the company at $4.75 per share. SAI

finished the day at $4.62.

ASX Futures are pointing to a sharp fall on the open after international

markets declined overnight.

ASX Reverse Early Declines to Trade Flat; Staples Down

THE ASX YESTERDAY IN REVIEW AUS Ticker Change

ASX 200 +0.00%

ALL ORDS +0.01%

CBA +0.00%

BHP +0.09%

ANZ +0.04%

WOW -2.14%

MND -1.31%

ADA -0.33%

BKY +5.39%

DAILY PRICE ACTIVITY AUSTRALIA

ASX200 price action yesterday

UPCOMING DIVIDENDS

Courtesy of http://www.morningstar.com.au/Stocks/UpcomingDividends

Tasty dividends & distributions

DATE CODE COMPANY ANNOUNCEMENTCODE COMPANY NAME EX DIVIDEND PAY DATE AMOUNT FRANKING %

JHC Japara Healthcare 27 Sep 2016 31 Oct 2016 5.75 100.00

NST Northern Star Resources 27 Sep 2016 13 Oct 2016 4.00 100.00

SRX Sirtex Medical 27 Sep 2016 19 Oct 2016 30.00 77.67

AIA Auckland Airport 28 Sep 2016 13 Oct 2016 8.52 0.00

APD APN Property 28 Sep 2016 18 Oct 2016 10.50 100.00

BOQPD -- 28 Sep 2016 17 Oct 2016 268.05 100.00

CLH Collection House 28 Sep 2016 21 Oct 2016 3.90 100.00

LNK Link Administration Holdings 28 Sep 2016 10 Oct 2016 8.00 18.70

MBLHB HY 3M PER Q ST 28 Sep 2016 17 Oct 2016 92.25 --

MXI Maxitrans 28 Sep 2016 14 Oct 2016 1.00 100.00

MYR Myer Holdings 28 Sep 2016 10 Nov 2016 3.00 100.00

WHATS HOT?

DATE CODE COMPANY ANNOUNCEMENT

WHATS NOT?

NCC.asx - steaming hot PRO.asx - cooling down

Pre-tax Net Tangible Assets (NTA) of the NAOS

Emerging Opportunities Company (NCC) was

$1.38 as of 31 August 2016 which is a 6 per

cent improvement compared to July. NCC

seeks to provide exposure to undervalued

emerging companies. The investment portfolio

has outperformed the Small Ordinaries Index

since inception and returned over 44 per cent

over the past 12 months.

Shares of Prophecy International Holdings have

lost over 50 per cent since the beginning of the

year and are currently trading at a 52-week low.

While the company experiences positive

revenue and earnings growth, shares have

taken a hit after management downgraded their

guidance. The company blames ‘deferred sales

in the third quarter’ which has resulted in a

weaker than expected performance.

ECONOMIC NEWS

What to look out for:

DATE CODE COMPANY

No economic data for

Australia or any of the

major Asian countries

U.S. services data due

tonight

LATEST UPDATE FROM WISE-OWL

Creso Pharma Limited (CPH)

CODE COMPANY ANNOUNCEMENTFloat Watch: Creso Pharma Limited (CPH)

Creso Pharma Limited ("Creso Pharma", "the Company") is an Australian

biotechnology company focused on cannabis and hemp based medicines.

Creso Pharma's primary focus is to develop and commercialise

pharmaceutical-grade cannabis based products and treatments. The

company was incorporated on 20 November 2015.

Creso Pharma offers speculative exposure to demand for cannabis based

medical products. While early key relationships are attractive, successful

development of delivery products will be the primary share price driver.

Funding requirements, regulation and free float are principal risks. The global

medical cannabis market has experienced rapid growth over the past few

years and while there is no guarantee that Creso Pharma can successfully

commercialise its products, the undemanding valuation mitigates some of the

risks of this start-up.

IPO | Offer Price: $0.20 | Listing: 12th October | Rating: 2/5

Click here to view full report

ASX:CPH

OUR VIEWS AT A GLANCE

Find below a summary of Wise-owl’s current market views

CODE COMPANY ANNOUNCEMENT

We continue to focus on small-mid cap stocks

There are individual opportunities on the ASX 200

We feel comfortable with our exposure to the gold sector

We see little upside for US stocks in the medium-term

A WISE-OWL PUBLICATION

Presented by Simon Herrmann

DATE CODE COMPANY ANNOUNCEMENT

Wise-owl.com

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DATE CODE COMPANY ANNOUNCEMENTDISCLAIMER

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