FINANCIAL NEWS

Uranium Week: Drifting Away

Uranium prices continue to drift lower on lack of utility interest while the virus continues to add extra uncertainty

11:34 AM


Consolidation Over For Cochlear

Michael Gable of Fairmont Equities suggests that after a period of consolidation, Cochlear is ready to start moving again.

11:07 AM


SPONSORED: ESE Reveals US Expansion Plans With $10M Sales Sourcing Deal

In executing on its expansion plans, eSense-Lab has entered into an exclusive sales agency agreement with Blue Science Solutions LLC for the distribution of its future terpene based sanitiser products in the United States.

11:03 AM


Diversity Bodes Well For Pinnacle

Despite the likelihood of a subdued second half, Pinnacle Investment Management is considered well-placed to take advantage of investors seeking more attractive options offshore.

10:25 AM


Iron Ore: Easing Constraints, Moderating Demand

Increasing downside risks to iron ore prices; headwinds in the form of easing supply-side constraints and moderating demand from China.

10:00 AM


Macquarie rates CCP as Outperform

After analysing comparative US purchase debt ledger data, the broker notes PDL pricing in Australia appears to be adjusting materially when US pricing has been slower to respond, and Wallet Wizard book contraction should be an earnings headwind.

However the broker sees the opportunity for Credit Corp to acquire debt at attractive prices domestically, given competition is constrained due to issues over access to capital, which would be attractive for future earnings. Outperform and $19.30 target retained.

Morgans rates HPI as Hold

Hotel Property has declared a final distributional of 9.7c for FY20, ahead of Morgans' forecast. This brings total distributions to 20c.

Morgans continues to assume FY21 distributions fall to 18.6c, incorporating recent lease renewals and assumptions about lower income because of the pandemic.

The deferment of rent previously announced in May is not expected to materially affect earnings in the forecast period.

The company will report FY20 results on August 18. Morgans retains a Hold rating and raises the target to $3.10 from $2.82.

UBS rates MYX as Neutral

Mayne Pharma has entered into a supply agreement with Chinese base manufacturer Novast Laboratories for 13 US generic oral contraceptive products, including five not previously marketed.

UBS estimates annualised cost savings of around US$ 3-5m per annum and assumes realisation from FY22.

While this comprehensive portfolio positions the company to compete effectively, the broker notes the market for oral contraceptives is very competitive.

Neutral rating maintained. Target rises to $0.44 from $0.42.

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ANALYSIS & DATA

MARKET CONSENSUS FORECAST

To display the stock analysis for a company please enter the company code:

ASX | ASX LIMITED

Abbreviated format - see the full version here


LAST PRICE CHANGE +/- CHANGE % VOLUME

$86.08

07 Jul
2020

-1.310

OPEN

$87.55

-1.50%

HIGH

$87.82

171,136

LOW

$85.90

TARGET
$72.203 -16.1% downside
Franking for last dividend paid out: 100%
MARKET CONSENSUS FORECAST
ASX: 1
Title FY18
Actual
FY19
Actual
FY20
Forecast
FY21
Forecast
EPS (cps) 240.4 254.1 258.9 250.8
DPS (cps) 216.3 228.7 233.0 225.7
EPS Growth 7.1% 5.7% 1.9% - 3.1%
DPS Growth 7.2% 5.7% 1.9% - 3.1%
PE Ratio N/A N/A 33.2 34.3
Dividend Yield N/A N/A 2.7% 2.6%
Div Pay Ratio(%) 90.0% 90.0% 90.0% 90.0%

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DAILY FINANCIAL NEWS

Consolidation Over For Cochlear

Michael Gable of Fairmont Equities suggests that after a period of consolidation, Cochlear is ready to start moving again.

11:07 AM - Technicals


SPONSORED: ESE Reveals US Expansion Plans With $10M Sales Sourcing Deal

In executing on its expansion plans, eSense-Lab has entered into an exclusive sales agency agreement with Blue Science Solutions LLC for the distribution of its future terpene based sanitiser products in the United States.

11:03 AM - FYI


Despite the likelihood of a subdued second half, Pinnacle Investment Management is considered well-placed to take advantage of investors seeking more attractive options offshore.

10:25 AM - Australia


Increasing downside risks to iron ore prices; headwinds in the form of easing supply-side constraints and moderating demand from China.

10:00 AM - Commodities


FY20 will be remembered for the pandemic that changed our lives, the record-breaking highs and lows seen in stock markets and the extraordinary measures taken by governments and central banks across the world

Jul 06 2020 - Australia


Adbri’s longstanding lime supply contract with Alcoa will come to an end next year, heralding a difficult time as imports increasingly erode its business.

Jul 06 2020 - Australia


RUDI'S VIEWS

Lessons Learned From 5.5 Years Of All-Weather Portfolio

Lessons Learned From 5.5 Years All-Weather Portfolio By Rudi Filapek-Vandyck, Editor FNArena Excluding any unforeseen calamities with the June 30…

Jul 02 2020

DAILY MARKET REPORTS

The Overnight Report: Accentuate The Positive

Accelerating US case count? No worries. Dow up 459. (Available for non-subscribers after 10am)

8:54 AM


Today’s Financial Calendar – 07-07-2020

Significant Scheduled Events For 07 July, 2020

8:15 AM


The Monday Report – 06 July 2020

Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.

Jul 06 2020


Today’s Financial Calendar – 06-07-2020

Significant Scheduled Events For 06 July, 2020

Jul 06 2020


The Overnight Report: Ongoing Conflict

The US posted record jobs growth in June while Florida posted a record increase in cases on Wednesday. Wall Street up, Wall Street down, with the Dow closing up 92. (Available for non-subscribers after 10am)

Jul 03 2020


Today’s Financial Calendar – 03-07-2020

Significant Scheduled Events For 03 July, 2020

Jul 03 2020


The Overnight Report: Conflicting Drivers

A myriad of positives and negatives had Wall Street all over the shop last night, with the Nasdaq hitting a new high as the Dow fell -77. (Available for non-subscribers after 10am)

Jul 02 2020


WEEKLY REPORTS

Uranium Week: Drifting Away

Uranium prices continue to drift lower on lack of utility interest while the virus continues to add extra uncertainty

11:34 AM

Short Term Pain, Long Term Gain For Battery Metals

The New Criterion’s Tim Boreham assesses the issues facing producers of lithium, graphite and cobalt, highlighting two small Australian miners.

Jul 06 2020

Weekly Ratings, Targets, Forecast Changes – 03-07-20

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

Jul 06 2020


Weekly Top Ten News Stories – 3 July 2020

Our top ten news stories from 25 June 2020 to 02 July 2020

Jul 03 2020

Next Week At A Glance – 6-10 Jul 2020

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

Jul 03 2020

The Wrap: Consumer Survey, TPG Merger And Supermarkets

Weekly Broker Wrap: Lingering aftereffects of the pandemic; The merged TPG Corp to have strong growth prospects; Managing margins will define FY21 for supermarkets

Jul 03 2020


The Short Report – 02 Jul 2020

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

Jul 02 2020

Australian Corporate Bond Price Tables – 02-07-20

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

Jul 02 2020

Uranium Week: Issues Of Supply And Demand

Global uranium production is significantly curtailed while utilities have been running down inventories due to uncertainty. Something soon has to give.

Jun 30 2020


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THE MARKETS

    Click item/line to change chart

  • Australia

    07 July 2020   Updated : 12:12   AEDT

    SPI Overnight (Sep)

    6019.00

    +31.00

    0.52%

    All Ordinaries

    6137.70

    +11.80

    0.19%

    S&P ASX 200

    6021.90

    +7.30

    0.12%

    S&P ASX 300

    5985.20

    +6.60

    0.11%

    Consumer Discretionary

    2493.40

    +4.40

    0.18%

    Consumer Staples

    12775.10

    +4.70

    0.04%

    Energy

    7441.30

    -85.70

    -1.14%

    Financials

    4919.60

    -8.90

    -0.18%

    Health Care

    42659.80

    -190.30

    -0.44%

    Industrials

    5715.00

    -2.50

    -0.04%

    Info Technology

    1682.40

    +13.60

    0.81%

    Materials

    13520.20

    +181.00

    1.36%

    Telecommunication

    1239.40

    +6.30

    0.51%

    Utilities

    7661.10

    -126.70

    -1.63%

  • Asia

    07 July 2020   Updated : 12:12   AEDT

    NZ50

    9214.870

    -42.310

    -0.460%

    Nikkei 225

    22577.98

    -136.46

    -0.60%

    Hang Seng

    26383.29

    +44.13

    0.17%

    Click item/line to change chart

  • Australasia

    07 July 2020   Updated : 12:12   AEDT

    AUD/USD

    0.6972

    +0.00

    0.13%

    AUD/NZD

    1.0629

    0.00

    -0.21%

    NZD/USD

    0.6561

    +0.00

    0.38%

    AUD/JPY

    74.83

    -0.06

    -0.08%

    SGD/AUD

    1.03

    0.00

    -0.14%

    AUD/EUR

    0.6161

    0.00

    -0.05%

    AUD/GBP

    0.5575

    +0.00

    0.04%

    AUDCAD

    0.9445

    +0.00

    0.14%

  • World

    07 July 2020   Updated : 12:12   AEDT

    CAD/USD

    0.7383

    +0.00

    0.03%

    EUR/JPY

    121.50

    +0.01

    0.01%

    EUR/USD

    1.1316

    +0.00

    0.17%

    GBP/USD

    1.2501

    +0.00

    0.05%

    USD/JPY

    107.38

    -0.19

    -0.18%

    Click item/line to change chart

  • World

    07 July 2020   Updated : 12:12   AEDT

    FTSE100

    6285.94

    +128.64

    2.09%

    DAX30

    12733.45

    +205.27

    1.64%

    DJIA

    26287.03

    +459.67

    1.78%

    S&P500

    3179.72

    +49.71

    1.59%

    Nasdaq Comp

    10433.65

    +226.02

    2.21%

    S&P500 VIX

    27.94

    +0.26

    0.94%

    US 10-year yield

    0.684

    +0.015

    2.240%

    USD Index

    96.78

    -0.39

    -0.40%

  • Aus Stocks

    07 July 2020   Updated : 12:12   AEDT

    BHP (UK)

    1665.20

    +28.80

    1.76%

    Rio (UK)

    4550.00

    +91.50

    2.05%

    BHP (US)

    50.43

    +0.33

    0.66%

    Rio (US)

    56.95

    +0.65

    1.15%

    ResMed (US)

    193.62

    +1.14

    0.59%

    South32 (UK)

    117.00

    +0.06

    0.05%

    James Hardie (US)

    19.25

    -0.29

    -1.48%

    Telstra (US)

    11.82

    +0.60

    5.35%

    Westpac (US)

    12.89

    0.00

    0.00%

    Click item/line to change chart

  • Spot Metals & Minerals

    07 July 2020   Updated : 10:12   AEDT

    Gold (oz)

    1785.10

    +10.70

    0.60%

    Silver (oz)

    18.26

    +0.24

    1.33%

    Copper (lb)

    2.7587

    +0.05

    1.96%

    Aluminium (lb)

    0.7214

    +0.00

    0.57%

    Lead (lb)

    0.8053

    +0.01

    0.64%

    Nickel (lb)

    5.9856

    +0.17

    3.01%

    Zinc (lb)

    0.9243

    +0.01

    1.07%

    Copper (t)

    6082.00

    +117.00

    1.96%

    Aluminium (t)

    1590.00

    +9.00

    0.57%

    Lead (t)

    1775.00

    +11.00

    0.62%

    Nickel (t)

    13196.00

    +386.00

    3.01%

    Zinc (t)

    2038.00

    +22.00

    1.09%

    Uranium (lb) weekly

    33.00

    -0.20

    -0.60%

  • Commodities Futures

    07 July 2020   Updated : 07:33   AEDT

    West Texas Crude

    40.59

    +0.27

    0.67%

    Brent Crude

    43.10

    +0.30

    0.70%

    Iron Ore (t) futures

    100.45

    0.00

    0.00%

CALENDAR

Tuesday, 7 July 2020
AU RBA policy meeting
EZ Germany industrial production, May
MTS ex-div 6.5c (100%)
Wednesday, 8 July 2020
NZ CPI & PPI, Jun
Thursday, 9 July 2020
NZ business confidence, Jul
AU housing finance, May
CH CPI & PPI, Jun
CQR EGM
Friday, 10 July 2020
JP PPI, Jun
US PPI, Jun

ALL WEATHER STOCKS

Code Company Price
COL COLES GROUP LIMITED

$17.21

CSL CSL LIMITED

$288.45

REA REA GROUP LIMITED

$108.05

RMD RESMED INC

$27.43

TNE TECHNOLOGYONE LIMITED

$8.96

WEEKLY PDF

Stories To Read From FNArena


WEEK 27

WEEK 26

WEEK 25

WEEK 24

WEEK 23

FNARENA TALKS

FNARENA WINDOWS

Window on URANIUM

Uranium Week: Drifting Away

Uranium prices continue to drift lower on lack of utility interest while the virus continues to add extra uncertainty

11:34 AM


Window on MEDICAL EQUIPMENT & DEVICES

Consolidation Over For Cochlear

Michael Gable of Fairmont Equities suggests that after a period of consolidation, Cochlear is ready to start moving again.

11:07 AM


Window on WEALTH MANAGEMENT & INVESTMENTS

Diversity Bodes Well For Pinnacle

Despite the likelihood of a subdued second half, Pinnacle Investment Management is considered well-placed to take advantage of investors seeking more attractive options offshore.

10:25 AM


SMSFUNDAMENTALS

SMSFundamentals: Australians Largely Uninformed About Their Super

Australian super accounts have taken massive hits throughout the coronavirus pandemic highlighting the lack of knowledge the average Australian has about how their super fund works.

Jun 23 2020


FEATURE STORIES

Life After Covid, Part II

Central banks have now exhibited just what extent of tools they have available. Fiscal spending means deficits for a long time. Rates will not just be lower for longer, but zero. Big Tech and China are virus winners.

Jun 10 2020