{"id":62025,"date":"2013-06-19T16:55:19","date_gmt":"2013-06-19T06:55:19","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/06\/19\/australian-stocks-what-happened-today-114\/"},"modified":"2013-06-19T16:55:19","modified_gmt":"2013-06-19T06:55:19","slug":"australian-stocks-what-happened-today-114","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/06\/19\/australian-stocks-what-happened-today-114\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"

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

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

\n\tThe Australian market (XJO<\/span>) closed up 47 points or 0.98% to 4861.4 today. The market started the day strong and had managed to keep moving higher throughout the day closing near the day's high. Taking a lead from overseas last night the Dow Jones rose 138.38 points or 0.91% to 15,318.20. All of the market sectors were up today with the Industrials sector gaining the most with 2.07% followed by Consumer Discretionary adding 1.94%. Confidence is high going into Federal Chairman Ben Bernanke's press conference during the U.S. session tonight.<\/p>\n

\tWhitehaven<\/span> Coal Limited ((WHC<\/span>)) has had large shareholder change with Nathan Tinkler<\/span> selling around half of his holdings in the company (101 million shares) to U.S. investment firm Farallon<\/span> Funds for $2.96 each. The shares closed yesterday at $2.11. The other half of Tinkler's<\/span> holdings in WHC<\/span> are expected to be sold by the end of today to various funds and investors.<\/p>\n

\tNews Corporation ((NWS)) has had its first day trading separately from newly listed New NewsCorp<\/span> Inc (NNC<\/span>). NNC<\/span> is taking over the digital and print with some aspects of pay TV Foxtel<\/span> and will be backstopped by a $US500<\/span> million buyback which will provide support. NWS is to become 21st<\/span> Century Fox and take over control of the TV and Movie assets.<\/p>\n

\tLehman Brothers Australia's creditors have failed to reach an agreement on a proposal to return $210 million to clients and local councils. The investment bank's U.S. counterpart has stated that is will oppose the deal. The liquidators had previously agreed to a deal that made sure that councils were given back 50 cents for every dollar. The lawyers for the U.S. arm have taken up rights to the debt on the weekend, giving them the chance to vote against the proposal.<\/p>\n

\tTransfield<\/span> Services Limited ((TSE<\/span>)) work on the NBN<\/span> has been extended for another two years, worth $366 million. TSE<\/span> was working with the NBN<\/span> to roll out fibre<\/span> optic cable in Sydney and now has also been given a separate two year contract to do the construction of the connection devices outside of the homes worth $66 million.<\/p>\n

\tOur international merchandise imports numbers are in for May, rising with increases in consumption goods and oil offset a fall in capital imports. The ABS today reported imports on a seasonally adjusted balance of payments basis increased by 2% in May to $20.44 billion. The imports of consumer goods rose 7% or $357 million, while imports of intermediate goods, like fuel, rose 4%, or $351 million. Imports of capital goods fell 5%, or $290 million.<\/p>\n

\n\tWorleyParsons<\/span> Limited ((WOR<\/span>)) has been given a U.S. $100 million offshore oil and gas contract in Nigeria by South Korean company Samsung Heavy Industries. The contract is a design and engineering contract for a floating production, storage and offloading<\/span> vessel, which will operate at an offshore deepwater<\/span> oil field in Nigeria. WorleyParsons<\/span> chief executive Andrew Wood said ''a strong development of our ability to locally support the offshore oil and gas business in West Africa''.<\/p>\n

\n\tRio Tinto Limited ((RIO)) has cut around 50 people from their Western Australian Iron Ore division. The division has been reported as the most profitable business within Australia's most lucrative export industry. It is also Rio's flagship division, contributing close to 80% of earnings in recent years. Some of the workers are expected to be redeployed<\/span> within Rio Tinto's global business, but the majority are expected to depart the company after being made redundant.<\/p>\n

\tAUD is currently trading at $0.9498, up $0.0012against the USD.<\/p>\n

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

\n\tBoart<\/span> Longyear<\/span> Limited ((BLY<\/span>)) up $0.065 or 9.70% to $0.735
\n\tMirabela<\/span> Nickel Limited ((MBN<\/span>)) up $0.01 or 8.33% to $0.13
\n\tImdex<\/span> Limited ((IMD<\/span>)) up $0.055 or 8.21% to $0.725
\n\tBradken<\/span> Limited ((BKN<\/span>)) up $0.35 or 8.18% to $4.63
\n\tFKP<\/span> Property Group Limited ((FKP<\/span>)) up $0.085 or 7.91% to $1.16<\/p>\n

\tBottom Performers<\/strong><\/p>\n

\tNews Corporation ((NWS)) down -$2.39 or -7.29% to $30.40
\n\tPerseus<\/span> Mining Limited ((PRU<\/span>)) down -$0.065 or -7.18% to $0.84
\n\tBillabong<\/span> International Limited ((BBG<\/span>)) down -$0.01 or -6.25% to $0.15
\n\tMaverick Drilling and Exploration Limited ((MAD)) down -$0.01 or -2.70% to $0.36
\n\tVirgin Australia Holdings Limited ((VAH<\/span>)) down -$0.01 or -2.22% to $0.44<\/p>\n

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

\n\tNice day on the market today. Still seeing good buying opportunities around. We have added some TOL<\/span> and SVW<\/span> to the model portfolio today, which can be viewed in the member section of www.stephenhogan.com.au<\/p>\n

\tAll eyes are on Ben Bernanke's speech, we should see the U.S. markets rally on the back of his expected decision to keep the stimulus package in place for at least the short term.<\/p>\n

\n\t
\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":8,"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\/62025"}],"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\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=62025"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62025\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}