FINANCIAL NEWS

Bendigo & Adelaide Bank Adapts To Economic Slowdown

Bendigo & Adelaide Bank has outlined an increase in provisioning related to the pandemic and brokers welcome the extra buffer in a deteriorating economic environment.

1:42 PM


Weekly Top Ten News Stories – 29 May 2020

Our top ten news stories from 21 May 2020 to 28 May 2020

12:02 PM


FNArena Corporate Results Monitor – 29-05-2020

FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.

10:52 AM


Next Week At A Glance – 1-4 June 2020

A brief look at important company events and economic data releases next week.

10:49 AM


What’s The New Deal For A-REITs?

As the economy re-opens defensive Australian A-REITs are expected to perform, with an increasing focus on industrial themes, while there are some significant risks facing the retail segment.

10:31 AM


UBS rates ALX as Neutral

The company has announced a $420m placement to be used for repayment of the corporate debt facility, which UBS assesses removes some risk and simplifies the holding structure for the 31% stake in APRR.

The broker increases the assumed recovery in traffic on the motorway and also lowers the cost of equity assumptions. Updated disclosure and traffic trade shows a significant recovery through May.

Despite the first half being profitable, no dividend is assumed for this period. Neutral maintained. Target is raised to $6.35 from $5.55.

Macquarie rates STO as Outperform

Santos has completed its US$1.5bn acquisition of the northern Australia/Timor-Leste assets. Macquarie notes some improvement in the settlement terms.

The stock provides exposure to the ongoing recovery in oil prices and the broker is more confident in the Barossa/Darwin LNG proceeding to construction compared with the Western Australian projects.

Outperform rating maintained. Target is $5.95.

Credit Suisse rates WEB as Downgrade to Neutral from Outperform

Credit Suisse eventually expects upside to the FY19 earnings base, primarily driven by the B2B division. However, with this division exposed to onerous travel restrictions in the northern hemisphere, the broker tempers expectations and will look to get upbeat again once intra-regional leisure travel improves.

Meanwhile, the B2C division, which is two thirds domestic travel, is looking increasingly attractive with the opening up of Australia, and potentially New Zealand. Rating is downgraded to Neutral from Outperform. Target is $4.50.

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ANALYSIS & DATA

MARKET CONSENSUS FORECAST

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ALX | ATLAS ARTERIA

Abbreviated format - see the full version here


LAST PRICE CHANGE +/- CHANGE % VOLUME

$6.58

29 May
2020

-0.120

OPEN

$6.62

-1.79%

HIGH

$6.93

4,303,617

LOW

$6.43

TARGET
$6.710 2.0% upside
MARKET CONSENSUS FORECAST
ALX: 1
Title FY18
Actual
FY19
Actual
FY20
Forecast
FY21
Forecast
EPS (cps) 11.3 2.5 19.2 50.8
DPS (cps) 27.0 15.0 5.0 32.2
EPS Growth - 85.5% - 77.9% 100.0% 100.0%
DPS Growth 35.0% - 44.4% - 66.7% 100.0%
PE Ratio N/A N/A 34.3 13.0
Dividend Yield N/A N/A 0.8% 4.9%
Div Pay Ratio(%) 238.3% 600.0% 26.0% 63.4%

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DAILY FINANCIAL NEWS

Bendigo & Adelaide Bank Adapts To Economic Slowdown

Bendigo & Adelaide Bank has outlined an increase in provisioning related to the pandemic and brokers welcome the extra buffer in a deteriorating economic environment.

1:42 PM - Australia


FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.

10:52 AM - Australia


As the economy re-opens defensive Australian A-REITs are expected to perform, with an increasing focus on industrial themes, while there are some significant risks facing the retail segment.

10:31 AM - Australia


ALS Ltd has acted quickly to manage the economic downturn but a robust recovery in sample flows and testing is expected as lockdowns measures are unwound.

May 28 2020 - Australia


Service Stream has been hampered by the pandemic, having to add costs to ensure the safe delivery of field-based operations. On the positive side, the company is confident it will maintain its progressive dividend policy.

May 28 2020 - Australia


Uncertainty regarding where the next “gold rush” is coming from has put pressure on Newcrest Mining but several brokers believe the answer may be closer than generally believed.

May 27 2020 - Australia


RUDI'S VIEWS

Two Poles Apart

Dear time-poor investor: the share market remains split in two opposing baskets In this week's Weekly Insights: -Two Poles Apart-REITs in…

May 28 2020

DAILY MARKET REPORTS

The Overnight Report: Getting Nervous

Increasing US-China tensions have begun to rattle Wall Street. Dow down -147. (Available for non-subscribers after 10am)

9:08 AM


Today’s Financial Calendar – 29-05-2020

Significant Scheduled Events For 29 May, 2020

8:15 AM


The Overnight Report: Rinse And Repeat

The new theme of buying economic cyclicals at the expense of stay-at-home stocks provided a repeat performance last night on Wall Street as momentum builds. Dow up 553. (Available for non-subscribers after 10am)

May 28 2020


Today’s Financial Calendar – 28-05-2020

Significant Scheduled Events For 28 May, 2020

May 28 2020


The Overnight Report: Out Of Home

Wall Street saw a distinct rotation out of stay-at home and into get-out-of-home last night on further re-openings and more vaccine optimism. Dow up 529. (Available for non-subscribers after 10am)

May 27 2020


Today’s Financial Calendar – 27-05-2020

Significant Scheduled Events For 27 May, 2020

May 27 2020


The Overnight Report: Around The Globe

Wall Street was closed last night but news of more restrictions being lifted in more countries is exciting investors. (Available for non-subscribers after 10am)

May 26 2020


WEEKLY REPORTS

Weekly Top Ten News Stories – 29 May 2020

Our top ten news stories from 21 May 2020 to 28 May 2020

12:02 PM

Next Week At A Glance – 1-4 June 2020

A brief look at important company events and economic data releases next week.

10:49 AM

The Wrap: Employment Shocks, Consumer Sentiment And Housing

Weekly Broker Wrap: Employment Shocks, Consumer Sentiment And Housing.

10:00 AM


The Short Report – 28 May 2020

FNArena’s weekly update on short positions in the Australian share market.

May 28 2020

Australian Corporate Bond Price Tables – 28-05-20

FNArena provides a weekly update of Australian listed corporate bond issues, current pricing and yield data.

May 28 2020

Uranium Week: Production Reduction

A report of significant reduction in US uranium production over 2019 and into 2020 had uranium spot prices back on the move again last week.

May 26 2020


Are The Listed Travel Agencies A Turnaround Investment?

The New Criterion’s Tim Boreham debates whether a lifting of restrictions will see travel agencies return to normal.

May 26 2020

Australian Listed Real Estate Tables

FNArena provides a weekly update of Australian listed real estate trusts (REIT) and property developers, current pricing yield and valuation data.

May 25 2020

Weekly Ratings, Targets, Forecast Changes – 22-05-20

Weekly update on stockbroker recommendation, target price, and earnings forecast changes.

May 25 2020


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THE MARKETS

    Click item/line to change chart

  • Australia

    29 May 2020   Updated : 14:12   AEDT

    SPI Overnight (Jun)

    5836.00

    -20.00

    -0.34%

    All Ordinaries

    5904.40

    -53.40

    -0.90%

    S&P ASX 200

    5794.30

    -56.80

    -0.97%

    S&P ASX 300

    5763.60

    -55.00

    -0.95%

    Consumer Discretionary

    2328.20

    -22.10

    -0.94%

    Consumer Staples

    11861.60

    +41.00

    0.35%

    Energy

    7705.30

    -61.90

    -0.80%

    Financials

    4631.00

    -129.30

    -2.72%

    Health Care

    41736.60

    -125.50

    -0.30%

    Industrials

    5825.40

    -72.90

    -1.24%

    Info Technology

    1480.40

    +1.20

    0.08%

    Materials

    13069.40

    +39.80

    0.31%

    Telecommunication

    1183.80

    +3.20

    0.27%

    Utilities

    7733.40

    +15.10

    0.20%

  • Asia

    29 May 2020   Updated : 14:12   AEDT

    NZ50

    9214.870

    -42.310

    -0.460%

    Nikkei 225

    21842.24

    -74.07

    -0.34%

    Hang Seng

    22968.41

    -164.35

    -0.71%

    Click item/line to change chart

  • Australasia

    29 May 2020   Updated : 14:12   AEDT

    AUD/USD

    0.6644

    +0.00

    0.47%

    AUD/NZD

    1.0707

    +0.00

    0.14%

    NZD/USD

    0.6206

    +0.00

    0.34%

    AUD/JPY

    71.35

    +0.12

    0.17%

    SGD/AUD

    1.06

    0.00

    -0.05%

    AUD/EUR

    0.5988

    0.00

    -0.35%

    AUD/GBP

    0.5388

    0.00

    -0.24%

    AUDCAD

    0.9150

    +0.00

    0.48%

  • World

    29 May 2020   Updated : 14:12   AEDT

    CAD/USD

    0.7262

    +0.00

    0.01%

    EUR/JPY

    119.13

    +0.54

    0.45%

    EUR/USD

    1.1095

    +0.01

    0.81%

    GBP/USD

    1.2331

    +0.01

    0.72%

    USD/JPY

    107.38

    -0.38

    -0.35%

    Click item/line to change chart

  • World

    29 May 2020   Updated : 14:12   AEDT

    FTSE100

    6218.79

    +74.54

    1.21%

    DAX30

    11781.13

    +123.44

    1.06%

    DJIA

    25400.64

    -147.63

    -0.58%

    S&P500

    3029.73

    -6.40

    -0.21%

    Nasdaq Comp

    9368.99

    -43.37

    -0.46%

    S&P500 VIX

    28.59

    +0.97

    3.51%

    US 10-year yield

    0.705

    +0.025

    3.680%

    USD Index

    98.50

    -0.46

    -0.46%

  • Aus Stocks

    29 May 2020   Updated : 14:12   AEDT

    BHP (UK)

    1589.80

    +18.00

    1.15%

    Rio (UK)

    4288.50

    +29.50

    0.69%

    BHP (US)

    46.70

    +0.49

    1.06%

    Rio (US)

    52.51

    +0.17

    0.32%

    ResMed (US)

    158.82

    +5.11

    3.32%

    South32 (UK)

    105.92

    -2.04

    -1.89%

    James Hardie (US)

    17.77

    -0.01

    -0.06%

    Telstra (US)

    10.74

    +0.27

    2.58%

    Westpac (US)

    12.04

    +0.15

    1.26%

    Click item/line to change chart

  • Spot Metals & Minerals

    29 May 2020   Updated : 07:29   AEDT

    Gold (oz)

    1719.00

    +9.30

    0.54%

    Silver (oz)

    17.34

    +0.10

    0.58%

    Copper (lb)

    2.3960

    +0.02

    0.92%

    Aluminium (lb)

    0.6824

    +0.00

    0.46%

    Lead (lb)

    0.7346

    0.00

    -0.39%

    Nickel (lb)

    5.5296

    +0.05

    0.94%

    Zinc (lb)

    0.8729

    +0.00

    0.07%

    Copper (t)

    5282.00

    +48.00

    0.92%

    Aluminium (t)

    1504.00

    +7.00

    0.47%

    Lead (t)

    1620.00

    -6.00

    -0.37%

    Nickel (t)

    12191.00

    +113.00

    0.94%

    Zinc (t)

    1924.00

    +1.00

    0.05%

    Uranium (lb) weekly

    34.25

    +0.55

    1.63%

  • Commodities Futures

    29 May 2020   Updated : 08:39   AEDT

    West Texas Crude

    33.66

    +1.44

    4.47%

    Brent Crude

    35.28

    +1.09

    3.19%

    Iron Ore (t) futures

    96.40

    +1.30

    1.37%

CALENDAR

Friday, 29 May 2020
NZ consumer confidence, May
AU private sector credit, Apr
JP industrial production, Apr
JP retail sales, Apr
JP unemployment, Apr
CH manufacturing PMI, May (Sunday)
CH services PMI, May (Sunday)
EZ flash CPI, May
US PCE inflation, Apr
US pending home sales, Apr
US retail sales, Apr
US UMich consumer sentiment, May (final)
APX AGM

ALL WEATHER STOCKS

Code Company Price
COL COLES GROUP LIMITED

$15.23

CSL CSL LIMITED

$285.90

REA REA GROUP LIMITED

$101.24

RMD RESMED INC

$23.93

TNE TECHNOLOGYONE LIMITED

$9.08

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Stories To Read From FNArena


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WEEK 18

FNARENA TALKS

FNARENA WINDOWS

Window on BANKS

Bendigo & Adelaide Bank Adapts To Economic Slowdown

Bendigo & Adelaide Bank has outlined an increase in provisioning related to the pandemic and brokers welcome the extra buffer in a deteriorating economic environment.

1:42 PM


Window on INFRA & PROPERTY DEVELOPERS

What’s The New Deal For A-REITs?

As the economy re-opens defensive Australian A-REITs are expected to perform, with an increasing focus on industrial themes, while there are some significant risks facing the retail segment.

10:31 AM


Window on INDUSTRIAL SECTOR CONTRACTORS & ENGINEERS

ALS Poised For Recovery

ALS Ltd has acted quickly to manage the economic downturn but a robust recovery in sample flows and testing is expected as lockdowns measures are unwound.

May 28 2020


FEATURE STORIES

Australian Banks: All Down To The Economy

The focus of recent bank earnings reports was not that of earnings, but of capital positions and bad debt provisions in the face of a recession only just now manifesting.

May 25 2020