This is not the document you are looking for? Use the search form below to find more!

Report home > World & Business

Morning Wrap 22 May 2012

0.00 (0 votes)
Document Description
morning wrap
File Details
  • Added: May, 21st 2012
  • Reads: 130
  • Downloads: 0
  • File size: 394.75kb
  • Pages: 3
  • Tags: asx, wall street, stocks
  • content preview
Submitter
  • Username: sam8
  • Name: sam8
  • Documents: 1
Embed Code:

Add New Comment




Related Documents

ISEAS Monitor - May 2012 issue

by: Ravi Philemon, 10 pages

ISEAS May 2012 issue. Report of ASEAN region.

MarketReportsOnline.com - Mining Monthly Deal Analysis May 2012 M&A and Investment Trends

by: charlesmartin17, 2 pages

GlobalData''s “Mining Monthly Deal Analysis - May 2012: M&A and Investment Trends” report is an essential source of data and trend analysis on partnerships, licensing, mergers and ...

MILITARY ALOHA PAGEANT MAY 2012 ENTRY FORM

by: AMANDA CAVE, 3 pages

MILITARY ALOHA PAGEANT MAY 2012 ENTRY FORM

Military Aloha Pageant May 2012

by: Amanda Cave, 3 pages

Military Aloha Pageant May 2012

MAY 2012 SPONSORSHIP FORM AND AD FORM

by: Amanda, 2 pages

MAY 2012 SPONSORSHIP FORM AND AD FORM

May 2012 Barnoldswick G&S Programme

by: Patrick, 2 pages

Programme for the May 2012 performance of the Barnoldswick Gilbert & Sullivan Musical Society, a 40th Anniversary Celebration, The Best of Gilbert & Sullivan

elenco gruppi presentazioni 22 giugno 2012

by: alessandro merlotti, 1 pages

elenco gruppi presentazioni 22 giugno 2012

Daily Stock Report Friday Morning, June 22, 2012

by: jamest4x, 16 pages

The short positions are most likely to outperform the longs more than the coming two weeks. Consider some of the shorts on the list beneath, preserve positions little. They could last for a couple of ...

New Church Emails 22 May 2010

by: gnosis, 1 pages

Email correspondence with Swedenborgians.

Content Preview
Morning Market Wrap
22 May 2012
Overnight Summary
%
Australian Indices
Last
Change
Change
Past Month
ASX 200
4,074
27
0.67%
-6.71%
SPI
4,104
32
0.79%
-6.04%
%
Major World Indices
Last
Change
Change
Past Month
Dow
12,504
135
1.09%
-4.03%
S&P500
1,316
21
1.60%
-4.54%
Nasdaq
2,847
68
2.46%
-5.11%
UK
5,304
37
0.70%
-8.10%
Germany
6,331
60
0.95%
-6.21%
France
3,027
19
0.64%
-5.06%
Nikkei
8,634
23
0.26%
-9.70%
Hong Kong
18,922
-30
-0.16%
-9.94%
Korea
1,799
17
0.94%
-8.89%
Taiwan
7,192
41
0.57%
-4.19%
%
Currencies
Last
Change
Change
Past Month
$A / $US
0.9911
0.0067
0.68%
-3.95%
$A / Stg
0.62594
0.0036
0.58%
-2.15%
$A / Euro
0.7733
0.0032
0.42%
-1.41%
DXY (USD Basket)
80.944
-0.35901
-0.44%
2.20%
Yen / $US
79.31
0
0.00%
2.36%
Euro / $US
1.2816
-0.0001
-0.01%
-2.58%
%
Metals (LME) / Energy
Last
Change
Change
Past Month
Gold - spot
1,593.07
-0.25
-0.02%
-3.05
Oil - WTI
92.57
1.09
1.19%
-10.17
Aluminium
92.85
-0.95
-1.02%
-1.68%
Copper
350.67
3.67
1.06%
-5.63%
Nickel
779.50
16.33
2.14%
-3.48%
Zinc
86.43
0.52
0.61%
-5.95%
Uranium
51.88
-0.13
-0.24%
0.73%
Silver - $US/oz
28.45
-0.27
-0.92%
-10.31%
Iron Ore
130.9
-0.40
-0.30%
-11.79%
%
Dual Listed Co's
Last
Change
A$ equiv
Spread
BHP Billiton plc
1,717
0.73%
27.43
17.02%
Rio plc
2,823
1.26%
45.10
24.06%
NewsCorp
19.69
3.82%
19.87
0.32%
BHP ADR
64.47
3.17%
32.52
1.32%
RIO ADR
45.37
3.75%
57.68
27.89%
Cash Rates
Futures
Next
Next + 1

Australia
3.75
3.39
3.01

US
0.25
0.17
0.17

Euro
1.00
0.66
0.74

Important Note: This note has been prepared by the Sales, Trading and Investment Advisory department and not by a Research
department. Companies featured in this research note should be considered speculative in nature and carry a high degree of invest-
ment risk. Please consider if investments in these types of companies are appropriate for your personal circumstances.
Perth Office
Hong Kong Office
New York Office
Los Angeles Office
50 Derby Street
Room 8 Office 1006-07
10 East 63rd Street
421 N. Rodeo Drive
Subiaco WA 6008
Level 10 Tower 2
Suite B Garden Level
Silvercard Building
New York NY
Beverly Hills CA 90210
Australia
30 Canton Road
USA
USA
T: +618 9380 6556
Tsim Sha Tsui, Hong Kong
T: +1 917 348 4000
T: +1 877 284 3976
T: +852 249 66016

Mac Equity Partners
www.macequity.com.au
AFSL 338731

Morning Wrap
22 May 2012
Wall Street's best session in two months coupled with rebounds in oil and copper have given the Austral-
ian share market a strong platform for a second day of gains.

The June SPI 200 futures contract ended the night session 33 points or 0.8% stronger at 4105 as Chi-
na's pledge to promote growth encouraged bargain-hunters to snap up resource stocks, industrials and
tech stocks in Europe and the US.

The S&P 500 rebounded from its worst week of the year with its best rally since March, rising 1.6% and
closing at its high for the session. The Dow put on 135 points or 1.09% and the Nasdaq surged 2.46%
despite an 11% plunge in Facebook.

"We're in need of some rally after the recent pul back," the chief investment officer at First Citizens
Bancshares in the US told Bloomberg. "China's comments were encouraging as it stands ready to pro-
vide stimulus. That's important for global economy."

Chinese Premier Wen Jiabao said over the weekend that China's priority was to promote growth, in-
creasing the prospects for further monetary stimulus in the months ahead. G-8 leaders also stressed
growth at a weekend meeting and German Finance Minister Wolfgang Schaeuble said Germany was
open to ideas on bolstering growth in the euro-zone.

Investors were also encouraged by take-over activity in the US, where manufacturer Eaton announced a
bid for Irish electrical equipment maker Cooper Industries. Commentators said the recent plunge in stock
valuations could encourage a rush of mergers and acquisitions.

"Eaton right now is saying you investors are pricing stocks incorrectly, and we think Cooper is worth a lot
more," the chairman of ICON Advisers in the US told MarketWatch.

The major European markets rallied overnight but peripheral markets remained under pressure as the
cloudy outlook for Spain and Greece encourage rotation into safer havens. Germany's DAX rallied
0.95%, France's CAC 0.64% and Britain's FTSE 0.7%, while Spain's IBEX 35 lost 0.65% and the Athens
General Index fell 1.01%.

Oil and copper ral ied for the first session in six as a decline in the US dol ar flagged a modest pick-up in
risk appetite. West Texas crude for June delivery put on $1.22 or 1.3 at US$92.70 a barrel.

Copper was boosted by the prospect of stimulus measures in China, but other metals wal owed near
multi-month lows. In London, copper added 1.4%, nickel 2.05% and zinc 0.8%. Aluminium dropped 1%,
lead 0.7% and tin 1.2%. US copper for July delivery was recently up seven cents or 1.9% at $3.54 a
pound.

Gold was little changed after two positive sessions. Gold for June delivery was lately ahead $1 or less
than 0.1% at US$1,592.60 an ounce.






Perth Office
Hong Kong Office
New York Office
Los Angeles Office
50 Derby Street
Room 8 Office 1006-07
10 East 63rd Street
421 N. Rodeo Drive
Subiaco WA 6008
Level 10 Tower 2
Suite B Garden Level
Silvercard Building
New York NY
Beverly Hills CA 90210
Australia
30 Canton Road
USA
USA
T: +618 9380 6556
Tsim Sha Tsui, Hong Kong
T: +1 917 348 4000
T: +1 877 284 3976

T: +852 249 66016
Mac Equity Partners Pty Ltd ABN 32 126 369 640
www.macequity.com.au
AFSL 338731

TRADING THEMES TODAY

REBOUND UNDERWAY: At last, blessed relief for Australia's bloodied investors. How much strength this
rebound will have remains open to question, but let's enjoy it while we can. We'll have a better idea by the
close of business if the bounce has legs - some of the shorts are likely to cover early, but it takes genuine
buyers to sustain a rally. The first evidence of take-over activity last night in the US should encourage val-
ue investors to start to dip their toes. Having fallen hardest over the last month, resource stocks should be
a happy hunting ground.

CHINESE OUTLOOK: The Conference Board's leading index of economic indicators for China may com-
mand more attention than usual this morning after the Chinese Premier's call for growth-promoting poli-
cies on the weekend. The index is due at noon EST and has held steady at +0.8% for the last two months,
following a brief dip into negative territory in December. Normally any deterioration would be a negative,
but we may be in one of those looking-glass periods when bad economic news is seen as a plus because
it encourages policy-makers to cut rates and/or bank reserve requirements to promote growth.

ECONOMIC NEWS: China's leading index is due at noon EST (see above). Europe has consumer confi-
dence data due tonight. The highlights in the US are existing home sales and the Richmond Manufactur-
ing Index.
DISCLAIMER
Mac Equity Partners Pty Ltd (ABN 32 126 369 640) ("Mac Equity Partners" or "MEP") is an Australian Financial Services Licence Holder (AFSL 338731). This research is for Mac
Equity Partners' clients only. Mac Equity Partners' directors, officers, representatives, authorised representatives, members and agents believe the information contained in this
document is correct and that any estimates, opinions or recommendations in this document are reasonably held at the time of compilation, but may change without notice. No
guarantee or warranty is given, or representation made, as to accuracy or completeness. Past investment or trading performance is not a reliable indicator of future performance.
To the extent permitted by law, Mac Equity Partners disclaims all liability and responsibility for any direct or indirect loss or damage which may be suffered by any recipient
through relying on anything in or omitted from this document. Advice included in this document is general advice, based solel y on consideration of the investment or trading
merits of the securities alone without taking into account the investment objectives, financial situation and particular needs (i.e. financial circumstances) of any particular person.
You should not act on any recommendation issued by Mac Equity Partners without first consulting your investment advisor in order to ascertain whether the recommendation (if
any) is appropriate having regard to your investment objectives, financial situation and particular needs.
DISCLOSURE
Mac Equity Partners Pty Ltd (ABN 32 126 369 640), its directors, officers, representatives, authorised representatives, members and agents declares that they deal in financial
products as part of their business and consequently they may have a relevant interest in the financial products recommended. Mac Equity Partners received brokerage or other
benefits from dealing in financial products and its authorised representatives, or introducers of business, may directly share in the brokerage or benefits. Mac Equity Partners, its
authorised representatives and their respective associates may have positions in the financial products mentioned, which my change.
COPYRIGHT AND DISTRIBUTION
This document and any information included within is Copyright and the property of Mac Equity Partners Pty Ltd. All informati on should be viewed as confidential. If you are not
the intended recipient of this document, you should destroy all copies and contact the sender or Mac Equity Partners' office.
Perth Office
Hong Kong Office
New York Office
Los Angeles Office
50 Derby Street
Room 8 Office 1006-07
10 East 63rd Street
421 N. Rodeo Drive
Subiaco WA 6008
Level 10 Tower 2
Suite B Garden Level
Silvercard Building
New York NY
Beverly Hills CA 90210
Australia
30 Canton Road
USA
USA
T: +618 9380 6556
Tsim Sha Tsui, Hong Kong
T: +1 917 348 4000
T: +1 877 284 3976

T: +852 249 66016
Mac Equity Partners Pty Ltd ABN 32 126 369 640
www.macequity.com.au
AFSL 338731

Download
Morning Wrap 22 May 2012

 

 

Your download will begin in a moment.
If it doesn't, click here to try again.

Share Morning Wrap 22 May 2012 to:

Insert your wordpress URL:

example:

http://myblog.wordpress.com/
or
http://myblog.com/

Share Morning Wrap 22 May 2012 as:

From:

To:

Share Morning Wrap 22 May 2012.

Enter two words as shown below. If you cannot read the words, click the refresh icon.

loading

Share Morning Wrap 22 May 2012 as:

Copy html code above and paste to your web page.

loading