China hopes spark rebound
The market rallied for a second straight day on hopes that China will undertake measures to stimulate its slowing economy and on positive overnight leads from the US and Europe as fears about euro zone debt contagion took a back seat.
$A higher on optimism over EU meeting
The Australian dollar consolidated its small rebound on Tuesday, ahead of a meeting of European Union leaders set for Wednesday night Australian time.
Brent steady ahead of EU summit, Iran talks
Brent crude held steady near $US109 on Tuesday, awaiting the results of two meetings to tackle Europe's debt crisis and Iran's nuclear programme, which could determine the future of global oil demand and supply.
China looks good for second half, says Xstrata
China’s demand for copper should improve in the second half of the year despite “problematic” economic conditions globally, says Xstrata’s Charlie Sartain.
Thorn’s outlook solid despite slowdown
Thorn Group is facing a sharp slowdown in earnings for the current financial year, but that shouldn’t stop the stock from enjoying a positive re-rating. Its rent-try-buy model for essential household goods targeting lower socio-economic consumers is the business model for the times.
Not everyone gloomy about QBE
QBE is hit by falling government bond yields as it recovers from last year’s natural disasters. Still, one research house upgraded the insurer ‘outperform’.
Latest dividend announcements
| WSH | 22/05/12 | Dividend details - Class A Notes |
| UOS | 22/05/12 | Dividend Reinvestment Plan - Issue Price |
| PPK | 22/05/12 |
Interim Dividend
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| TGA | 22/05/12 |
Preliminary Final Report
|
| RHL | 22/05/12 |
Half Yearly Report and Accounts
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| GNC | 22/05/12 |
Appendix 4D and Interim Financial Report
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| WSN | 21/05/12 | Dividend Details - Class A notes |
| WSJ | 21/05/12 | Dividend details - Class A notes |
| INB | 21/05/12 | IMS 2006-2G Bond Factor 29 May 2012 |
| WSC | 21/05/12 | Dividend Details - Class A notes |
Latest letters to shareholders
| ANQ | 22/05/12 | Expiry of 31 May 2012 options |
| NAN | 22/05/12 | Shareholder Report - May 2012 |
| PNE | 21/05/12 | Letter to Option Holders |
| KTE | 21/05/12 | SPP Offer and Acceptance Form |
| FLS | 21/05/12 | Letter sent to 2010 Convertible Noteholders |
| AEF | 18/05/12 | Letter to Shareholders |
| SPN | 18/05/12 | Letter to Ineligible Retail Securityholders |
| SCR | 18/05/12 |
Hannans - Extension of Off-Market Takeover Offer Period
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| COM | 18/05/12 | Newsletter |
| MEU | 18/05/12 | Rights Issue - Letter to Shareholders |
Taking Stock
PanAust (PAN)
Copper producer PanAust has lost about a quarter of its value since the start of February as concerns about a slowdown in China and the European crisis weigh on commodity prices.
Toll Holdings (TOL)
Toll Holdings’ investors have been brought back to earth with a thud after the logistics group slashed its full-year profits guidance, citing weak global markets, and said it would consider selling some of its businesses.
Broker Watch
James Hardie Industries (JHX)
RBS Morgans has cut its price target on James Hardie Industries to $7.53 from $7.66 a share following its disappointing fourth-quarter result but kept its “hold” recommendation on the stock.
Southern Cross Media Group (SXL)
Morgan Stanley has issued a tactical recommendation on Southern Cross Media Group as it believes the stock has a 70 per cent to 80 per cent chance of falling in absolute terms over the next 30 days.
Columnists
Bonds, shares buck trend and rise together
There’s a growing disconnect between shares and government bonds. Usually when bond prices rise, share prices fall. This time around however, both bond prices and share prices are rising in concert.
Is the US Fed softening us up for something?
It was just the strangest of comments. Atlanta Fed president Dennis Lockhart had just finished explaining why markets shouldn’t expect a further round of large scale asset purchases unless we saw a severe drop-off in economic performance.
