FINANCIAL NEWS
2020 Outlook: Global
Recession or recovery? The global economy is on a knife edge heading into 2020, due to ongoing uncertainties meeting renewed central bank support. How should investors greet the New Year?
Dec 06 2019
Weekly Top Ten News Stories – 6 December 2019
Our top ten news stories from 28 November 2019 to 05 December 2019
Dec 06 2019
FNArena Corporate Results Monitor – 06-12-2019
FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.
Dec 06 2019
Next Week At A Glance – 9-13 Dec 2019
A brief look at important company events and economic data releases next week.
Dec 06 2019
The Wrap: Consumers & Financial Advisers
Weekly Broker Wrap: cash rate; housing; consumer; port volumes; health insurance; and financial advisers.
Dec 06 2019
UBS rates APT as Sell
Pursuant to yesterday note, in which the broker reiterated its Sell rating for Afterpay Touch based on a perceived high credit risk for the BNPL sector, and higher still for Afterpay individually, the broker has increased its sales forecasts following yesterday's update from management. Both the US and UK customer bases are tracking at a higher rate than anticipated, highlighting, the broker suggests, strong execution.
But this does not detract from a valuation call based on said risk rather than discounted cash flow methodology. Sell and $17.60 target retained.
Credit Suisse rates FSF as Neutral
Credit Suisse observes the company has made a solid start to FY20, although an increasing milk price could put pressure on earnings, which remains subject to volatility.
The broker observes, having largely dealt with the balance sheet issues, the investment case for Fonterra Shareholders Fund centres on what the business will look like in the future and how it will position with regards to its capital structure and relevance as a processor of choice in the NZ milk pool.
The broker expects further progress over the next 12 months on an exit of Brazil, a strategic decision on China Farms and potentially some product and market rationalisation.
Neutral rating maintained. Target is NZ$3.85.
Morgan Stanley rates WHC as Overweight
Morgan Stanley considers the regional skills shortage at Maules Creek is of concern as contract labour costs could affect costs into FY21.
Maules Creek run-of-mine production has been downgraded to 10-11mt because of stoppages from dust events, because of water shortages, and labour shortages.
Meanwhile, the Vickery regulatory decision is delayed, which does not affect fundamentals in the broker's view. Morgan Stanley downgrades FY20 estimates for earnings per share by -20%.
Overweight rating, Attractive industry view and $4.80 target maintained.
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ANALYSIS & DATA
MARKET CONSENSUS FORECAST
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CTX | CALTEX AUSTRALIA LIMITED
Abbreviated format - see the full version here
| LAST PRICE | CHANGE +/- | CHANGE % | VOLUME |
|---|---|---|---|
|
$34.51 06 Dec |
OPEN $34.35 |
HIGH $34.71 |
696,575 LOW $34.28 |
0.130| TARGET | |||
| $34.750 0.7% upside | |||
| Franking for last dividend paid out: 100% |
| Title | FY17 Actual |
FY18 Actual |
FY19 Forecast |
FY20 Forecast |
|---|---|---|---|---|
| EPS (cps) | 237.4 | 214.9 | 132.6 | 204.7 |
| DPS (cps) | 121.0 | 118.0 | 80.7 | 124.0 |
| EPS Growth | 19.3% | - 9.5% | - 38.3% | 54.3% |
| DPS Growth | 18.6% | - 2.5% | - 31.6% | 53.7% |
| PE Ratio | N/A | N/A | 26.0 | 16.9 |
| Dividend Yield | N/A | N/A | 2.3% | 3.6% |
| Div Pay Ratio(%) | 51.0% | 54.9% | 60.8% | 60.6% |
DAILY FINANCIAL NEWS
FNArena Corporate Results Monitor – 06-12-2019
FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.
Dec 06 2019 - Australia
Adairs has expanded its range of home furnishings with the acquisition of NZ-based furniture and homewares business, Mocka.
Dec 05 2019 - Small Caps
A glance through the latest expert views and predictions about commodities. Oil; LNG; aluminium; and nickel.
Dec 04 2019 - Commodities
Ahead of the Herd’s Rick Mills examines how the growth of artificial intelligence is set to change the world.
Dec 04 2019 - FYI
Select Harvests has used strong cash flow over FY19 to pay down all debt and underpin production growth for the future.
Dec 04 2019 - Australia
The KFC Australia franchise performed strongly for Collins Foods in the first half, while Taco Bell offers a future expansion opportunity.
Dec 04 2019 - Australia
RUDI'S VIEWS
Rudi’s View: Osteopore, Whitehaven Coal and Telstra
Dear time-poor reader: a lifesciences conference, a stern warning, secular growth stocks and Conviction Calls In this Rudi's View update: -Lots Of Chutzpah…
Dec 06 2019
DAILY MARKET REPORTS
The Overnight Report: Nothing New
Wall Street fell and rallied back on trade news last night that was not news at all. Dow up 28.
Dec 06 2019
Today’s Financial Calendar – 06-12-2019
Significant Scheduled Events For 06 December, 2019
Dec 06 2019
Australian Broker Call *Extra* Edition – Dec 05, 2019
Extra Edition of the Broker Call Report
Dec 05 2019
The Overnight Report: Deal Or No Deal?
A trade deal will be signed before December 15, apparently, despite what the president said on Tuesday night. Dow up 150.
Dec 05 2019
Today’s Financial Calendar – 05-12-2019
Significant Scheduled Events For 05 December, 2019
Dec 05 2019
The Overnight Report: Trade Tantrum
The Australian and US stock markets have fallen heavily as Trump ramps up the threats in the face of trade deal stagnation. Dow down -290.
Dec 04 2019
Today’s Financial Calendar – 04-12-2019
Significant Scheduled Events For 04 December, 2019
Dec 04 2019
WEEKLY REPORTS
Weekly Top Ten News Stories – 6 December 2019
Our top ten news stories from 28 November 2019 to 05 December 2019
Dec 06 2019
Next Week At A Glance – 9-13 Dec 2019
A brief look at important company events and economic data releases next week.
Dec 06 2019
The Wrap: Consumers & Financial Advisers
Weekly Broker Wrap: cash rate; housing; consumer; port volumes; health insurance; and financial advisers.
Dec 06 2019
The Short Report – 05 Dec 2019
FNArena’s weekly update on short positions in the Australian share market.
Dec 05 2019
Australian Corporate Bond Price Tables – 05-12-19
FNArena provides a weekly update of Australian listed corporate bond issues, current pricing and yield data.
Dec 05 2019
Share Buybacks – Who’s Doing It? – 04-12-2019
Weekly Update on ASX-listed companies buying in their own stock.
Dec 04 2019
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.
Dec 03 2019
Uranium Week: Everyone Wants In
Volumes in uranium markets surged in November as buyers from all corners jumped on the bandwagon.
Dec 03 2019
Four Small Cap Recovery Stocks
The New Criterion’s Tim Boreham outlines four smaller companies that have struggled but may now be on the mend.
Dec 02 2019
THE MARKETS
-
Asia
08 December 2019 Updated : 11:42 AEDT
NZ50
9214.870
-42.310
-0.460%
Nikkei 225
23354.40
+54.31
0.23%
Hang Seng
26498.37
+281.33
1.07%
-
World
08 December 2019 Updated : 11:42 AEDT
CAD/USD
0.7544
0.00
-0.62%
EUR/JPY
120.10
-0.50
-0.42%
EUR/USD
1.1059
0.00
-0.42%
GBP/USD
1.3140
+0.00
0.11%
USD/JPY
108.58
-0.01
-0.01%
-
Aus Stocks
08 December 2019 Updated : 11:42 AEDT
BHP (UK)
1703.80
+42.20
2.54%
Rio (UK)
4206.95
+77.45
1.88%
BHP (US)
51.75
+0.67
1.31%
Rio (US)
55.37
+0.76
1.39%
ResMed (US)
150.59
+0.41
0.27%
South32 (UK)
133.10
-1.40
-1.04%
James Hardie (US)
19.90
+0.19
0.96%
Telstra (US)
12.68
+0.03
0.24%
Westpac (US)
16.61
+0.09
0.54%
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CALENDAR
Monday, 9 December 2019
JP GDP, Q3 (revision) CIE ex-div 1c (100%) Tuesday, 10 December 2019
AU house prices, Q3 AU NAB business confidence, Nov AU RBA governor speaks CH CPI & PPI, Nov EZ ZEW investor sentiment, Dec UK industrial production, Nov BOQ AGM IFL investor day KKT ex-div 5c (100%) Wednesday, 11 December 2019
ALL WEATHER STOCKS
Code Company Price AMC AMCOR LIMITED 
$15.01
ARB ARB CORPORATION LIMITED
$18.85
CSL CSL LIMITED
$281.00
REA REA GROUP LIMITED
$104.15
RMD RESMED INC
$22.07
WEEKLY PDF
Stories To Read From FNArena
WEEK 49
WEEK 48
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WEEK 46
WEEK 45
FNARENA TALKS
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FNARENA WINDOWS
Window on FURNITURE & RENOVATION
Mocka Brings More Furniture To Adairs
Adairs has expanded its range of home furnishings with the acquisition of NZ-based furniture and homewares business, Mocka.
Dec 05 2019
Window on COMMODITIES
Material Matters: Energy, Aluminium & Nickel
A glance through the latest expert views and predictions about commodities. Oil; LNG; aluminium; and nickel.
Dec 04 2019
Window on TECHNOLOGY
The Promise Of AI
Ahead of the Herd’s Rick Mills examines how the growth of artificial intelligence is set to change the world.
Dec 04 2019
SMSFUNDAMENTALS
SMSFundamentals: ETF Flight To Safety
October saw strong demand for Australian fixed income ETFs, while in the US, investment in passive equity ETFs has outstripped that in active ETFs for the first time.
Nov 18 2019