UK shares up on light trading
ASX Futures down 22 points
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The S&P 500 Index fell 0.3 percent to 2,161.20 at 4 p.m. in New York,
weighed down by technology and consumer-staples shares, while
lackluster growth in manufacturing activity did little to boost optimism
on the economy.
A report overnight showed manufacturing expanded at a modest pace
in September after unexpectedly shrinking a month earlier,
underscoring limited progress for the battered sector. Data on factory
orders and September payrolls are due later this week.
The FTSE 100 rose 1.2 percent to 6,983.52 at the close, just 1.7
percent away from a record reached in April 2015. It fell 0.3 percent on
Friday, trimming its fourth straight monthly gain.
The Stoxx Europe 600 Index gained 0.1 percent, after rising as much
as 0.3 percent and falling that amount. With the German market closed
for a holiday, trading of shares on the gauge was about a fifth lower
than the 30-day average.
S&P 500 Falls; UK Shares Rise amid Light Trading in Europe
YESTERDAY IN THE INTERNATIONAL MARKETS Global Ticker Daily Change
S&P 500 -0.33%
Dow Jones -0.30%
NASDAQ -0.21%
STOXX 600 +0.09%
FTSE 100 +1.22%
DAX30 +0.00%
Crude Oil +0.87%
Gold -0.21%
The ASX fell on Friday weighed down by the big banks while Energy
shares continued to rise. The market concluded a volatile month with a
flat week and essentially finished where it began. Last week the world’s
largest miner BHP Billiton (BHP) reached a 10-month high.
Despite dipping as low as 5,200 points earlier in the month the
S&P/ASX 200 index rose a mere 3 points in September to finish little
changed. The benchmark index finished the month at 5,436 points.
Yesterday the local share market rose 0.8 per cent in a light trading
session amid the Labor Day public holiday in NSW, QLD and SA.
The financials sector fell 1 per cent in September led down by the
banks as negative sentiment encouraged selling. It appears that
investors are concerned about the future of Deutsche Bank as reported
in various media outlets.
Chinese factory activity expanded marginally in September. The
Caixin/Markit Manufacturing Purchasing Managers' index (PMI) rose to
50.1, in line with analysts' forecasts. The 50 mark separates expansion
of activity from contraction on a monthly basis.
ASX Little Changed in September; Banks Fall, Energy Up
THE ASX YESTERDAY IN REVIEW AUS Ticker Change
ASX 200 +0.78%
ALL ORDS +0.72%
CBA +1.52%
BHP +1.65%
ANZ +1.12%
TLS +0.39%
DDR +0.43%
MND +0.11%
HVN +2.12%
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 %
AAA BetaShares Australian High Interest
Cash ETF
04 Oct 2016 19 Oct 2016 0.00 0.00
CAM Clime Capital 04 Oct 2016 21 Oct 2016 1.20 100.00
DNA Donaco International 04 Oct 2016 19 Oct 2016 1.00 0.00
HVST Betashares Australian Dividend
Harvester Fund
04 Oct 2016 19 Oct 2016 0.00 0.00
MYO MYOB Group 04 Oct 2016 20 Oct 2016 5.50 0.00
NCK Nick Scali 04 Oct 2016 26 Oct 2016 17.00 100.00
UMAX Beta S&P500 YieldMax 04 Oct 2016 19 Oct 2016 0.00 0.00
VACF Vanguard Australian Corporate
Fixed Interest Index ETF
04 Oct 2016 19 Oct 2016 33.79 0.00
VAE Vanguard FTSE Asia Ex Japan
Shares Index ETF
04 Oct 2016 19 Oct 2016 67.52 0.00
VAF Vanguard Australian Fixed Interest
Index ETF
04 Oct 2016 19 Oct 2016 38.93 0.00
WHATS HOT?
DATE CODE COMPANY ANNOUNCEMENT
WHATS NOT?
NEA.asx - steaming hot CMW.asx - cooling down
Nearmap has gained 59 per cent year-to-date.
Revenue increased 20 per cent to $31.3 million
while the net loss amounted to $7.1 million.
Nearmap sells high resolution aerial photomaps
to businesses under a Software as a Service
(SaaS) model. Nearmap is experiencing growth
in Australia and builds a foundation in the U.S.
to expand its market shares.
The value of Cromwell Property Group (CMW)
has declined 10.5 per cent since the beginning
of the year, significantly underperforming the
broader market. The stock was trading at a
significant premium to the Net Tangible Assets
which are currently $0.82 and is now
experiencing a ‘correction’. The technical
uptrend was broken as shares are heading
lower.
ECONOMIC NEWS
What to look out for:
DATE CODE COMPANY
Chinese market closed for
holiday
Australian housing data
expected to show a decline
in building approval
The Reserve Bank of
Australia will announce the
monthly interest rate
decision this afternoon. The
market does not expect a
rate cut.
LATEST UPDATE FROM WISE-OWL
Gold Road Resources (GOR)
CODE COMPANY ANNOUNCEMENTGrowth Portfolio Update: Gold Road Resources (GOR)
Wise-owl issued a 'speculative buy' recommendation for Gold Road Resources
(GOR) on 11 February 2016 at $0.43. GOR was last traded at $0.64 and this
position is currently ~49 per cent in profit. GOR is part of our 'Growth Portfolio'
and we recommend to 'hold'.
Gold Road announced today that early works at the Gruyere Gold Project are
expected to commence in December 2016 following the grant of key licenses.
Funding for the early works is in place and negotiations for a 600 person
accommodation village is progressing. Earlier this year Gold Road completed a
$74 million capital raising of which $18 million will be used to commence
construction.
On 1st September Gold Road announced that a 100,000 ounce gold forward
sale facility was established with the Commonwealth Bank of Australia at
A$1,791 per ounce.
With the company progressing towards construction of Gruyere and Feasibility
Study on track for completion in December 2016 quarter we expect takeover
interest to build up and maintain our 'hold' recommendation.
ASX:GOR
LATEST UPDATE FROM WISE-OWL
Cradle Resources Ltd (CXX)
CODE COMPANY ANNOUNCEMENTGrowth Portfolio: Cradle Resources Ltd (CXX)
Cradle Resources Ltd ("Cradle", "the Company") is an Australian minerals
company with operations in Tanzania. Its primary asset is a 50% interest in
the Panda Hill Niobium Project ("Panda Hill"), 680km west of Dar es Salaam.
Cradle has delineated Mineral Resources of 178Mt at 0.50% Nb2O5,
classified as Measured, Indicated and Inferred. A Definitive Feasibility Study
("DFS") into a 1.3Mtpa operation completed in April 2016, estimated capex of
US$196million and post tax Net Present Value ("NPV") of US$400million.
Cradle offers speculative exposure to the niobium mining industry. We are
attracted to the Company's management team, and Panda Hill's status as
the world's most advanced undeveloped niobium deposit. Overcoming entry
barriers imposed by existing producers in the niobium market is the primary
risk. However with the Company trading at a substantial discount to its NPV
share and delivery of the offtake partnerships and project financing
representing major catalysts, we initiate coverage on Cradle as a
'speculative buy'.
Spec Buy | Price $0.25 | Target $0.58 | Stop $0.14 | Outlook 12m+
Click here to view full report
ASX:CXX
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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