{"id":61861,"date":"2013-05-20T17:32:49","date_gmt":"2013-05-20T07:32:49","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/05\/20\/australian-stocks-what-happened-today-98\/"},"modified":"2013-05-20T17:32:49","modified_gmt":"2013-05-20T07:32:49","slug":"australian-stocks-what-happened-today-98","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/05\/20\/australian-stocks-what-happened-today-98\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"

\n\tBy Stephen Hogan, Senior Private Client Adviser, Equities\/Derivatives<\/p>\n

\tAustralian Market<\/strong><\/p>\n

\n

\n\t\tThe Australian market (XJO<\/span>) closed <\/span>up <\/span>28.2 points or 0.54% to 5209.0 <\/strong>today. Another strong open for the market with 5 year highs broken on the XJO<\/span> in the morning. There was a daily high of 5246.9 at around 12:20<\/span><\/span> before dropping lower all afternoon til<\/span> close. All ASX<\/span> sectors managed to stay green today except for the gold sector, dropping -2.15%, and Health Care just falling by 0.01%. CommBank<\/span> ((CBA<\/span>)) created another all time high of $74.18. Last Friday night in the U.S. the Dow Jones rose 121.18 points or 0.80% to 15,354.40.<\/span><\/span><\/p>\n

\n\t\t <\/span><\/span><\/p>\n

\n

\n\t\t\tThe price of iron ore has been on a longer, slower down trend<\/span>. On Friday<\/span><\/span>, it slipped to U.S. $123.10, down U.S. $1.90 from the previous close. The drop off started in early January but got serious from mid February.<\/span><\/span><\/p>\n

\n\t\t\t <\/span><\/span><\/p>\n

\n\t\t\tMacquarie Group's ((MQG<\/span>)) recent hybrid share offer was originally to raise $400 million, but had received such "strong support" that brokers and institutional investors have brought together $580 million worth of firm commitments. Macquarie has lifted its offer size up to $600 million. Hybrid shares <\/span>have been a hit with investors because of their more predictable returns.<\/span><\/span><\/p>\n

\n\t\t\t <\/span><\/span><\/p>\n

\n\t\t\tConstruction Company L<\/span>eighton Holdings ((LEI)) held it's AGM<\/span> today, informing share holders it will appoint up to five new directors before the end of June. The company has also reiterated its full year profit guidance of $520-$560 million.<\/span><\/span><\/p>\n

\n\t\t\t <\/span><\/span><\/p>\n

\n\t\t\tAUD is currently trading at $0.9764, up $0.0045<\/strong><\/span> against the USD.<\/span><\/span><\/p>\n<\/p><\/div>\n<\/div>\n

\n\t
\n\tTop Performers<\/strong><\/p>\n

\n

\n\t\tEnergy World Corporation Limited ((EWC<\/span>)) up $0.035 or 8.43% to $0.45
\n\t\tMirabela<\/span> Nickel Limited ((MBN<\/span>)) up $0.01 or 6.45% to $0.165
\n\t\tBluescope<\/span> Steel Limited ((BSL<\/span>)) up $0.25 or 4.88% to $5.37
\n\t\tLeighton Holdings Limited ((LEI)) up $0.65 or 3.61% to $18.66
\n\t\tInvocare<\/span> Limited ((IVC<\/span>)) up $0.39 or 3.28% to $12.27<\/span><\/span>
\n\t\t 
\n\t\tBottom Performers<\/strong><\/p>\n

\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n

\n\t\t\t\t\t\t\t\t\t\t\t\t\tSilver Lake Resources Limited ((SLR<\/span>)) down -$0.11 or -13.33% to $0.715<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

\n\t\t\t\t\t\t\t\t\t\t\t\t\tEvolution Mining Limited ((EVN<\/span>)) down -$0.085 or -9.66% to $0.795<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

\n\t\t\t\t\t\t\t\t\t\t\t\t\tNorthern Star Resources Limited ((NST)) down -$0.068 or -9.25% to $0.667<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

\n\t\t\t\t\t\t\t\t\t\t\t\t\tPerseus<\/span> Mining Limited ((PRU<\/span>)) down -$0.085 or -7.46% to $1.055<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

\n\t\t\t\t\t\t\t\t\t\t\t\t\tMedusa Mining Limited ((MML<\/span>)) down -$0.155 or -6.60% to $2.195<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n

\n\t\tOur Comments<\/strong><\/p>\n<\/div>\n

\n\tAfter such a great start to the day we finished quite poorly and gave away a lot of gains. We continue to really like the energy sector here and STO<\/span> traded well today and has since our recent note on the stock. Will do some research on this new listing Sino<\/span>, which is an oil and gas services play based in China and get back to everyone soon.<\/p>\n

\t(For a more comprehensive summary of last night’s market action see FNArena’s<\/span><\/a> Overnight Report.)
\n\t <\/p>\n

\n\tRe-published with permission. Views expressed are not by association FNArena's<\/span> (see our disclaimer).<\/em><\/p>\n

\n\tStephen Hogan is an Authorised<\/span> Representative of Novus<\/span> Capital. Authorised<\/span> Representative No.345411 – http:\/\/www.stephenhogan.com.au<\/a><\/em><\/p>\n

\n\tNovus<\/span> Capital Limited ("Novus<\/span>") is holder of Australian Financial Services Licence<\/span> No 238 168. Novus<\/span>, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and\/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this e-mail or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised<\/span> and also may change without notice to you, particularly if based on past performance or relate to a future matter.<\/em><\/p>\n

\n\tNovus<\/span> believes that any information or advice (including any financial product recommendation) contained in this document is accurate when issued but do not warrant its accuracy or reliability. Novus<\/span> is not obliged to provide you with updated information or advice if circumstances change. Novus<\/span>, its directors, officers, associates and employees exclude to the full extent permitted by law, all liability of any kind whether in negligence, contract, under a fiduciary duty or otherwise, for any loss or damage, whether direct, indirect, consequential or otherwise, whether foreseeable or not, arising from or in connection with this e-mail or an attached document.<\/em><\/p>\n

\n\tFind out why FNArena<\/span> subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A wrap of the day’s activity on the Australian stock market.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/61861"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=61861"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/61861\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=61861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=61861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=61861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}