Michael Gable Managing Director and founder of Fairmont Equities brings the latest stock tips for August 22, 2016. Featured stocks include Woodside Petroleum, LendLease Group, SAI Global and Telstra Corporation.
Australian Market Report of September 10, includes; Diploma Group LLC (ASX:DGX) signs a contract for AED$60 million to construct a new government office building in the United Arab Emirates, Breakaway Resources Limited (ASX:BRW) completes four diamond drill hole as part of a joint venture with BHP Billiton (ASX:BHP), Cockatoo Coal Limited (ASX:COK) has entered into an Exclusivity Agreement with Mitsui & Co. Ltd (TYO:8031) (NASDAQ:MITSY)and Lend Lease (ASX:LLC) has entered into an Implementation Agreement with Sekisui House Australia Holdings Pty Ltd, a subsidiary of Sekisui House Limited (TYO:1928).
The Australian stocks market ended with a two-week low on Friday due to uncertain domestic and overseas factors, including the weak US housing data and Europe fiscal health, and more importantly, Australia's proposed mining tax. The benchmark S&P/ASX200 index fell 66.7 points, or 1.5 per cent, to 4413, bringing this week's losses to 3.2 per cent. The broader All Ordinaries index plunged 64.7 points, or 1.4 per cent, to 4439.4.
Australian real estate company Lend Lease Group (ASX:LLC) has become the highest bidder among the six bidders for the Jurong Gateway Road site, a 1.9-hectare mixed-use development in the Jurong Lake district in Singapore.
The Australian sharemarket closed slightly higher on Wednesday. Most of the early gains boosted by BHP Billiton's report of strong half-year production were offset by the losses after news that some Chinese banks have received verbal orders to stop lending for the rest of this month. At the close, the benchmark S&P/ASX200 index added 7 points, or 0.1 per cent, at 4868.2, while the broader All Ordinaries index gained 5.5 points, or 0.1 per cent, to 4895.1.
The Australian sharemarket ended slightly lower on Monday after a positive start driven by a resources sector buoyed by higher commodity prices. The pullback was led by major banks, and consumer staples. At close, the benchmark S&P/ASX200 index was down 6.4 points, or 0.14 per cent, to 4644.1, while the broader All Ordinaries gave up 6.1 points, or 0.13 per cent, at 4665.8.
The Australian sharemarket gave up early gains on Wednesday after the GDP figures released by Australian Bureau of Statistics showed a disappointing result in economy growth. At the close, the benchmark S&P/ASX200 index was 11.6 points lower, or 0.2 per cent, at 4661.9, while the broader All Ordinaries slashed 11.7 points, or 0.2 per cent, at 4676.1
US shares fell on Thursday as the services sector index declined unexpectedly in November. The contraction also hurt sentiment ahead of the release of unemployment figure.
US market was closed for Thanksgiving Day holiday, but the overseas markets were strongly hit by fears of a debt default by Dubai World, Dubai government's key holding company. Dubai World, which owns strategic global assets, has asked bondholders for a standstill on about US$60 billion in debt until May.
Wall Street maintained its positive run on Wednesday session as the Federal Reserve officials tipped that the central bank could keep interest rate at historical low level. The Chinese economic data released yesterday also added confidence to global recovery hopes. European markets also rallied on low interest rate expectations.