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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