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
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ASX | ASX LIMITED
Abbreviated format - see the full version here
| LAST PRICE | CHANGE +/- | CHANGE % | VOLUME |
|---|---|---|---|
|
$86.08 07 Jul |
OPEN $87.55 |
HIGH $87.82 |
171,136 LOW $85.90 |
-1.310| TARGET | |||
| $72.203 -16.1% downside | |||
| Franking for last dividend paid out: 100% |
| 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% |
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
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
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
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
THE MARKETS
-
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%
-
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%
-
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%
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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
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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