{"id":62071,"date":"2013-06-27T18:15:33","date_gmt":"2013-06-27T08:15:33","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/06\/27\/australian-stocks-what-happened-today-118\/"},"modified":"2013-06-27T18:15:33","modified_gmt":"2013-06-27T08:15:33","slug":"australian-stocks-what-happened-today-118","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/06\/27\/australian-stocks-what-happened-today-118\/","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 79.6 points or 1.68% to 4811.3 today. The market opened strong today with another good lead from global markets, theDow<\/span> Jones rose 149.83 points or 1.02% to 14,910.10. The XJO<\/span> reached a high of 4830.5 at 1:15pm<\/span> and managed to hold a decent gain for the afternoon. Overall consensus for the effect of what has been happening in politics over the past two days was that it would have little to no change on investors views this week. All market sectors were in the positive today, the best being Gold, rising 3.78% followed by Telecommunications, adding 2.81%.<\/p>\n

\n\tKevin Rudd is PM once again! At 9:30 this morning K Rudd was sworn in as PM along with Chris Bowen as treasurer. Furthermore opposition Leader Tony Abbott says he's unlikely to move a motion of no confidence in the new Kevin Rudd government. Abbott says it's up to the people of Australia to choose the prime minister and government.When asked why he had changed his mind on a no-confidence motion, Mr Abbott said he had always argued it was the people's responsibility to choose the prime minister and government. ''All we've had for the last three years are back room deals and back stabbing orchestrated by the faceless men who are not interested in the welfare of the Australian people,'' Abbott said. ''They're not interested in the welfare of all the battlers out there who are struggling with cost of living pressures, who wonder why our borders are in chaos, they're just interested in protecting their own power and prerogatives.'' Mr Abbott said the political execution of Mr Rudd three years ago, and now Ms Gillard, was vindication of what the opposition had said about the Labor government.<\/p>\n

\n\tToll Holdings Limited ((TOL<\/span>)) has announced today that it will book a $200 million write down for its lower performing global forwarding business. The business deals mainly with sea and air freight, and has been a victim of weak market conditions over the past 6 months. That said, TOL<\/span> is still sticking to the reported $420-$430 million in operating earnings.<\/p>\n

\n\tIn Australian economic data, the ABS reports that total job vacancies for the three months to May fell 7.3% to 138,900 in seasonally adjusted terms in the three months to end May. That followed a 10% the previous quarter and left vacancies down 19% on the same period of 2012. Vacancies in the private sector fell 7.9% in the quarter to 127,700, to be down 18.5% on the year.<\/p>\n

\n\tSuncorp<\/span> Group Limited ((SUN)) is paying back customers that did not receive a promoted discount on their insurance policies. The refunds are being paid after an investigation by the corporate regulator into Suncorp's<\/span> IT, documentation and human resources systems. ASIC<\/span> has undertaken a review of Suncorp's<\/span> business after the insurer reported system breaches to the regulator. Suncorp<\/span> had failed to provide promoted discounts to some customers with multiple policies, some senior card holders with home and contents insurance, and some customers who bought contents insurance online. Suncorp<\/span> will pay $23 million to the rightful customers<\/p>\n

\n\tAUD is currently trading at $0.9302, up $0.0026 against the USD.<\/p>\n

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

\n\tSt Barbara Limited ((SBM<\/span>)) up $0.045 or 11.25% to $0.445<\/p>\n

\n\tSenex<\/span> Energy Limited ((SXY<\/span>)) up $0.042 or 8.00% to $0.567<\/p>\n

\n\tNewcrest<\/span> Mining Limited ((NCM<\/span>)) up $0.555 or 5.96% to $9.865<\/p>\n

\n\tJB<\/span> Hifi<\/span> Limited ((JBH<\/span>)) up $0.93 or 5.87% to $16.78<\/p>\n

\n\tAWE Limited ((AWE)) up $0.067 or 5.78% to $1.227<\/p>\n

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

\tAlacer<\/span> Gold Corp ((AQG<\/span>)) down -$0.23 or -10.04% to $2.06<\/p>\n

\n\tDiscovery Metals Limited ((DML<\/span>)) down -$0.01 or -7.69% to $0.12<\/p>\n

\n\tBillabong<\/span> International Limited ((BBG<\/span>)) down -$0.013 or -7.22% to $0.167<\/p>\n

\n\tAusdrill<\/span> Limited ((ASL<\/span>)) down -$0.06 or -6.56% to $0.855<\/p>\n

\n\tIndependence Group NL ((IGO<\/span>)) down -$0.155 or -6.10% to $2.385<\/p>\n

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

\n\tSome really good looking charts here on the banks at the moment after their recent significant correction and look very bullish.<\/p>\n

\tLooking at ANZ you can see price action has have come back to a support level and buying has come in. This happens to be not the first swing high but second. To remain in an uptrend you can break one swing high but not two. Very good sign here for a rally medium term.<\/p>\n

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

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

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

\n\tNovus Capital Limited ("Novus") is holder of Australian Financial Services Licence No 238 168. Novus, 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 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 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 is not obliged to provide you with updated information or advice if circumstances change. Novus, 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 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\/62071"}],"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=62071"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62071\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}