Australian Stocks: What Happened Today?

Array
(
    [0] => Array
        (
            [0] => ((NAB))
            [1] => ((WBC))
            [2] => ((SBM))
            [3] => ((SLR))
            [4] => ((LYC))
            [5] => ((KCN))
            [6] => ((RSG))
            [7] => ((SDL))
            [8] => ((DOW))
            [9] => ((MSB))
            [10] => ((SCP))
        )

    [1] => Array
        (
            [0] => NAB
            [1] => WBC
            [2] => SBM
            [3] => SLR
            [4] => LYC
            [5] => KCN
            [6] => RSG
            [7] => SDL
            [8] => DOW
            [9] => MSB
            [10] => SCP
        )

)

This story features NATIONAL AUSTRALIA BANK LIMITED, and other companies.
For more info SHARE ANALYSIS: NAB
The company is included in ASX20, ASX50, ASX100, ASX200, ASX300 and ALL-ORDS

By Stephen Hogan, Senior Private Client Adviser, Equities/Derivatives

Australian Market

The Australian market (XJO) closed down -1.4 points or 0.03% to 5198.4 today. The market was very directionless today, it moved above and below opening price for the morning only to slip lower in the afternoon and close flat. The Gold sector had a great day rising 3.84%, Health Care sector was the only other sector to make over 1% with a 1.21% gain. 

Billabong ((BBG)) has moved from a trading halt to a voluntary suspension this morning while bid negotiations continue. National Bank ((NAB)) released earnings today which failed to impress the way that ANZ Bank ((ANZ)) and Westpac ((WBC)) did last week, NAB's earnings were very close to analyst's estimates posting a $2.92 billion half year profit. Caltex Australia Limited ((CTX)) has released a first quarter profit jump of almost 80% but, the company says, refiners' margins are likely to be squeezed as capacity in Asia and the Middle East grows. The oil refiner and distributor today said net profit in the first quarter of 2013 to March was $190 million, up from $106 million in the same period the previous year.

Official figures released earlier today show Australia's unemployment rate has fallen 0.1% to 5.5% in April. Total employment was up by more than 50,000 to 11.663 million in the month, according to seasonally adjusted figures released by the Bureau of Statistics. The estimate was for total employment to be up 11,000 in April with the unemployment rate at 5.6%. Full-time employment rose 34,500 to 8.16 million in April and part-time employment was up 15,600 to 3.504 million. The AUD moved about half a cent higher on the release of the news.

AUD is currently trading at $1.0242, up -$0.0074 against the USD.

Top Performers
 

St Barbara Limited ((SBM)) up $0.135 or 23.68% to $0.705

Silver Lake Resources Limited ((SLR)) up $0.11 or 10.63% to $1.145

Lynas Corporation Limited ((LYC)) up $0.055 or 9.24% to $0.65

Kingsgate Consolidated Limited ((KCN)) up $0.17 or 8.99% to $2.06

Resolute Mining Limited ((RSG)) up $0.07 or 8.28% to $0.915

Bottom Performers

Sundance Resources Limited ((SDL)) down -$0.005 or -4.76% to $0.10

Downer EDI Limited ((DOW)) down -$0.22 or -4.38% to $4.80

Mesoblast Limited ((MSB)) down -$0.21 or -3.53% to $5.74

Australia and New Zealand Banking Group Limited down -$0.94 or -2.99% to $30.52

Shopping Centres Australasia Property Group ((SCP)) down -$0.048 or -2.62% to $1.782

Our Comments

Today is one of those days I hope you all were not sitting in front of your computer screens watching the market. Pretty non eventful and a nothing day really.

We saw the NAB half yearly numbers come in and depending on who you spoke too today they were slightly ahead of expectations. Chinese inflation came in just above expectations at 2.4% which was a bit of a letdown considering there was talk of policy makers loosening policy. The big surprise today came in the form of local employment figures – the market expected only 11,000 jobs created and the unemployment rate steady at 5.6%. The official numbers came in with 50,000 jobs created and unemployment one tick lower at 5.5%.

Will be interesting to see if we can get back above 5200 tomorrow.
 

(For a comprehensive summary of last night’s market action see FNArena’s Overnight Report.)

Re-published with permission. Views expressed are not by association FNArena's (see our disclaimer).

Stephen Hogan is an Authorised Representative of Novus Capital. Authorised Representative No.345411 – http://www.stephenhogan.com.au

Novus 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.

Novus 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.

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